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Globex Mining Enterprises' partner Chibougamau ends current drill program at Bateman Bay

The drill has now been moved to the Copper Cliff property, said Chibougamau

Globex Mining -
The C-3 copper and gold property is part of Chibougamau's Bateman Bay property, in which Globex has a 3% gross metal royalty

Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) partner Chibougamau Independent Mines Inc (CVE:CBG) said Tuesday that it had ended the current drill program at its C-3 copper/gold discovery on the Bateman Bay property in Quebec but will resume again in the winter.

Core from the last holes will soon be moved to the coreshack where final logging and core splitting will take place and samples sent for analysis.  

READ: Globex Mining partner Chibougamau reports two additional sets of assays from drill hole BJ-19-22 at Bateman Bay

The drill has now been moved to the Copper Cliff property to test a perceived plunge direction of historical gold mineralization. 

The C-3 copper and gold property is part of Chibougamau's wholly owned Bateman Bay property, and results along with drilling to date show the zone is open in various directions.

Globex, an exploration, royalty and property bank, holds a 3% gross metal royalty (GMR) on the Bateman Bay and Grandroy Mine properties.

"It is our intention to return to the C-3 zone this winter in order to test the southeastern strike of the zone from the ice as drilling from a barge would be very costly," said Chibougamau in the statement.

"In addition, several other target areas have been outlined where shallow historical drilling in numerous holes has indicated one or more copper/gold zones that are open to depth on strike of the C-3 zone. Similarly, if the Copper Cliff drill hole returns good assays, additional drilling will be planned."

Shares nudged up 1.47% in Toronto to C$0.39 each

---Updates share price---

Contact the author at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

Quick facts: Globex Mining Enterprises Inc.

Price: 0.77 CAD

Market: TSX
Market Cap: $42.07 m

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