Proactive Investors - Run By Investors For Investors

Globex Mining says drilling kicks off at Bateman Bay property in Quebec

Chibougamau Independent Mines has received its drill permit for the C-3 copper/gold zone in Quebec
Chibougamau
Globex holds a 3% gross metal royalty on the property, located in Quebec

Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) and Chibougamau Independent Mines Inc (CVE:CBG) released promising news Wednesday announcing Chibougamau Independent Mines has received its drill permit for the C-3 copper/gold zone in Quebec. 

Drilling has kicked off at the property, and Chibougamau is planning around 3,400 metres of drilling at the wholly owned C-3 copper/gold zone in Quebec.

C-3 is part of the Bateman Bay property. Globex, an exploration, royalty and property bank, holds a 3% Gross Metal Royalty (GMR) on the Bateman Bay and Grandroy Mine properties. Its assets include over 40 former mines.

READ: Globex Mining Enterprises shares nudge up as more drilling is expected at Quebec property

The other month, Chibougamau announced intersections from two holes, which showed 4.33% copper, 3.69 g/t gold and 19.62 g/t silver, over a 22 metre core length.

The other hit 7.70% copper, 3.58 g/t gold and 33.25 g/t silver, over a 9.2 metre core length.

Combined with previous Chibougamau drilling, the C-3 Zone has been intersected from surface to a  depth of 450 metres.

Globex Mining shares added nearly 3% today in Toronto  to $0.37.

Contact Katie Lewis at [email protected]

View full GMX profile View Profile

Globex Mining Timeline

Related Articles

Z-1 zeolite quarry
June 27 2019
According to the firm, zeolite's properties make it a critical material for a greener, cleaner 21st century
gold
March 29 2019
Latest forecast is for 2019 production to rise to between 80-84,000oz
goldplat
May 31 2019
Interim chief executive Werner Klingenberg said management’s continued priority will be to “maintain the established momentum of the recovery operation and improve the reliability of sourcing material”.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use