Globex Mining Enterprises Inc said drilling by its partner Starr Peak Mining Ltd at the company’s NewMétal property in the Abitibi Greenstone Belt of Québec, which has produced copper and zinc intercepts, highlights the potential for further new discoveries.
The ongoing drill program is targeting the Normetmar orebody deep zone, directly below the Normetmar high-grade zinc deposit and approximately one kilometre west of the historic Normétal Mine.
Highlights from the drill results include a high-grade copper interval of over 15% of the copper mineral chalcopyrite over 3.7 metres (m) and 5.03% zinc equivalent over 12.5m, which includes 1.01% copper.
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A new volcanogenic massive sulphide horizon was also discovered in the northern half of the property.
In a statement, Starr Peak CEO Johnathan More said deep drilling of the Normetmar deep zone continued to return economic intervals.
“In the Northern part of the NewMétal property, a newly discovered volcanogenic massive sulphide horizon highlights the potential of Starr Peak’s ground for new discoveries and project value creation and enhancements,” More said. “The discovery also reinforces the exploration strategy our technical team is following.”
Globex retains a 2.5% gross metal royalty on the Normetmar zone and retains more than one million Starr Peak shares.
Globex Mining Enterprises is a Toronto Stock Exchange, Frankfurt and OTCQX-listed corporation with a diversified North American portfolio of mid-stage exploration, development and royalty properties containing: precious metals, base metals, specialty metals and minerals and industrial minerals and compounds.
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