Globex Mining Enterprises Inc said that exploration drilling is underway on the Eagle Gold Mine property, which is subject to an option agreement with Maple Gold.
Phase one of eight drill holes has been completed and a phase 2 drilling program is being permitted, Globex said.
Maple said in a release that it has completed 3D modelling, targeting and permitting and subsequently commenced a 4,200 metre Phase I drill campaign, which includes eight drill holes to test a possible secondary shoot of mineralization adjacent to the main shoot.
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The area was historically mined starting in the 1970s during a significantly lower gold price environment, according to Maple. An additional deeper hole of up to 960 metre is now being drilled and three additional deeper sites up to 1,350 metres are currently being permitted.
“Initial drill core observations are encouraging, with multiple drill holes intersecting semi-massive-pyrite iron-carbonate as well as other styles of mineralization known to carry gold,” Maple said in a statement.
Phase 2 will include deeper drill holes of up to 1,400 metres to test the main mine trend at depth below the historical mine workings.
Globex signed the option agreement with Maple in July 2021.
The Eagle property is located in Quebec.
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