Globex Mining Enterprises Inc revealed that it has expanded its royalty interests in Quebec on a large and prospective claims package.
The resource company said it has acquired a 0.5% gross metal royalty (GMR) on the claims through a deal with First Energy Metals Ltd and a group of prospectors.
Under the terms of the deal, Globex sold 18 claims to First Energy for $30,000 and 375,000 shares.
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The claims include the former Preissac molybdenite mine and the Moly Hill molybdenite deposit, as well as claims directly adjoining the Authier lithium deposit at the east and several isolated small claim blocks, both to the east and west. Globex has retained a 1% GMR on the 18 claims.
Another 417 claims in the area that are also prospective for lithium and several other elements are part of the agreement with a group of prospectors, that sees Globex retaining a 0.5% GMR on all 417 claims. The total claims package equals 12,769 hectares.
The deal is in addition to 66 claims previously sold to First Energy on strikes and west of the North American lithium deposit and mill, Globex noted. It retains a 3% GMR on these 66 claims, which include occurrences of lithium both in surface showings and in drill holes.
“These two transactions position Globex to have GMR interests in 501 claims held by First Energy in addition to a retained royalty of 0.5% GMR on the center of the Sayona Authier Lithium deposit which, on March 1, 2022, Sayona announced a JORC conformable resource of 17,136,000 tonnes grading 1.01% lithium oxide,” Globex said in a statement.
The company added that it was “happy” with its expanded Quebec holding in the lithium space.
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