Globex Mining Enterprises Inc. (TSX:GMX, OTCQX:GLBXF) told shareholders that Excellon Resources (TSX:TSX:EXN) Inc. has announced the drill results from its 24 drill hole program on the Silver City (Bräunsdorf) project in Germany under option from Globex.
Excellon on February 9, 2022, reported that 23 out of 24 drill holes (8,360 meters) completed to date intersected the target structures, according to a statement from Globex.
“The results from our 2021 drill program confirmed the continuity of the structures intersected in the initial drilling at Silver City,” said Jorge Ortega, Execellon’s vice president of exploration.
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“Drilling at Grauer Wolf and Peter Vein returned high-grade results over a strike of 170 and 300 metres, respectively, with up to eight-metre-wide zones of hydrothermal alteration and stockwork. These are clear indicators of the potential of the system to host economic mineralization and our continuing goal is to identify broader zones of mineralization at the high grades we have encountered to date. We are also continuing to review the historical exploration and mining data and collect surface geochemical data ahead of our 2022 exploration drill program,” Ortega added.
Step-out drilling intersected significant silver mineralization at four targets, with results including:
- 1,633 grams per ton (g/t) silver equivalent (AgEq) over 0.35m (1,470 g/t Ag, 0.2 g/t gold (Au), 2.9% lead (Pb) and 2.1% zinc (Zn)) within 257 g/t AgEq over 2.90m (232 g/t Ag, 0.4% Pb and 0.3% Zn) in SC21GVB020 at Peter Vein;
- 1,296 g/t AgEq over 0.35m (1,260 g/t Ag, 0.2 g/t Au, 0.6% Pb and 0.3% Zn) within 592 g/t AgEq over 1.05m (508 g/t Ag, 0.1 g/t Au, 1.4% Pb and 1.2% Zn) in SC21GWO033 at Grauer Wolf;
- 266 g/t AgEq over 0.65m (228 g/t Ag, 0.1 g/t Au, 0.7% Pb and 0.5 % Zn) within 169 g/t AgEq over 1.93m (137 g/t AgEq, 0.3% Pb and 0.6% Zn) in SC21GWO030 at Grauer Wolf; and
- 383 g/t AgEq over 0.38m (7.0 g/t Ag and 5.0 g/t Au) in SC21REI027 at Reichenbach
- 24 diamond drill holes totaling 8,360m completed on the program to date, with 23 holes intersecting target structures, assays pending on four holes and an additional three holes to be drilled at Grauer Wolf in the first quarter of 2022 to complete the 2021 program
Globex said historical data review, structural and geological modelling, and soil sampling and prospecting are in progress on the Bräunsdorf license, with additional soil lines planned for the Oederan, Mohorn, and Frauenstein licenses to be used to refine drill targets for the 2022 drilling program.
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