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Viking Gold Exploration Inc. has completed an initial 13 hole drill program on seven claims optioned from Globex located in Guyenne Township, Quebec.
Two areas were drilled which returned assays of economic interest. The best results in areas #1 and #2 are:
----------------------------------------------------------------------------Hole # Area From (m) To (m) Width (m) Au (g/t)----------------------------------------------------------------------------4 #1 32 35 3 5.27----------------------------------------------------------------------------10 #1 52 53 1 11.30 -------------------------------------------------------- 73 74 1 13.36----------------------------------------------------------------------------06 #2 79 80 1 3.29----------------------------------------------------------------------------
(See Viking press release dated February 11, 2013).
In addition to the 7 claims optioned to Viking, Globex retains 100% interest in a large package of claims that completely surround the 7 claims and include several areas of gold and base metal mineralization.
On January 22 and 24, 2013, Glen Eagle Resources Inc. released "key data, resulting from the preliminary economic assessment" by SGS Canada Inc. on their Authier Lithium Deposit. The study shows an IRR of 28.7%, a two year payback and a ten year life as currently configured. The deposit was tested to a depth of 175 metres and is open to depth. It was also reported in a press release dated December 19, 2011 as having a NI 43-101 compliant resource of 7,383,000 tonnes grading 0.97% LiO2 in the Measured and Indicated Resource categories and an additional 572,000 tonnes grading 0.98% LiO2 in the Inferred Resource category. (Maxime Dupere, P.Geo and Gilles Laverdiere, P.Geo, SGS Canada Inc. effective date October 26, 2012). "A qualified person has not done sufficient work to classify the historical estimate as current mineral resource or mineral reserve and Globex is not treating the historical estimate as current mineral resources or mineral reserves". Globex retains a 2% Gross Metal Royalty on 12 claims making up part of the Authier property. It is estimated that 50% or more of the ore body occurs on Globex royalty claims.
Mag Copper Limited has been going through a number of internal changes at the board level. Globex is awaiting word on their plan going forward. On March 30, 2012, Mag Copper announced an updated NI 43-101 compliant resource estimate on the Magusi River Deposit by Bernard Salmon, Ing and Holger Krutzelmann, P.Eng. of Roscoe Postle Associates Inc. dated March 12, 2012. The following is the reported resource estimate. "A qualified person has not done sufficient work to classify the historical estimate as current mineral resource or mineral reserve and Globex is not treating the historical estimate as current mineral resources or mineral reserves".
----------------------------------------------------------------------------Area Tonnes Cu% Zn% Au (g/t) Ag (g/t)----------------------------------------------------------------------------High Grade Copper 729,000 3.26 0.58 0.41 43.4----------------------------------------------------------------------------High Grade Zinc 580,000 0.39 8.57 2.34 42.1----------------------------------------------------------------------------Total Indicated 1,309,000 1.99 4.12 1.27 42.8----------------------------------------------------------------------------Inferred 355,000 3.41 0.39 0.26 24.2----------------------------------------------------------------------------
