Richmont Mines Inc. terminated the option on three Globex claims tying onto the east side of their Wasamac property, west of Rouyn-Noranda, Quebec. As well, they suspended exploration on the Wasamac Mine Property and closed the nearby Francoeur Mine. To date Richmont has reported drilling in the Wasamac-Globex property boundary area (Zone 3). Also, we have not received news of any drilling on a strategic Globex royalty claim sold to Richmont and located in the Shaft # 1 area of the Francoeur Mine property.
Lincoln Mining Corp. purchased the contractual right of Laurion Mineral Exploration to acquire Globex's Bell Mountain Property in Nevada. Previously, Laurion filed a NI 43-101 compliant resource estimate on the property prepared by Telesto Nevada Inc. and dated May 3, 2011. The Telesto historical resource estimate reported combined Measured and Indicated resources of 165,018 oz of gold and 5,533,907 oz of silver in 9,761,000 metric tonnes of mineralized rock grading 0.526 g/t Au and 17.63 g/t Ag. Inferred resources were reported as 29,550 oz gold and 827,411 oz silver in 2,046,000 metric tonnes of rock grading 0.449 g/t Au and 13.26 g/t Ag. "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". Lincoln reports on their website that "Lincoln plans to file an updated NI 43-101 compliant technical report on the Bell Mountain property and advance the project to production".
Tres-Or Resources Ltd. and Aurizon Mines Ltd. announced on January 14th, 2013 the start of a 14 hole, 4,350 metre drill program on Globex's Fontana Gold Property. The first holes will be a series of one-kilometre-long drill fences to test gold bearing mineralized structures. In preparation for the drill program, 10,000 mineralized intervals from historical drill holes were compiled and integrated into a proprietary database. A combined airborne magnetic and electromagnetic survey was flown over the property in January 2012. A ground magnetic survey was completed recently.
NQ Exploration Inc. terminated their option on Globex's Shortt Lake Gold Mine Property after a limited drill program.
On January 25, 2013, Rocmec Mining Inc. announced the results of a surface exploration program on the Russian Kid (Rocmec 1) Property. The work consisted of a surface magnetometer survey and re-interpretation of previous exploration results in relation to interpreted and re-compiled geological observations.
NSGold Corp. announced on October 22, 2012 the start of a shallow, targeted, 10 hole drill program in order to test the potential for open pit mining the Mooseland West Gold Zone. Previous drilling tested the gold zone along a 1,000 metre strike length but always below a 75 metre depth. The West Zone contains 57% (259,000 oz Au) of the inferred mineral resource at the Mooseland Property which is now estimated at 454,000 oz Au as follows:
---------------------------------------------------------------------------- Historical Non-diluted Inferred Mineral Resource Estimate----------------------------------------------------------------------------Zone Tonnage Grade (g/t Au) Contained Ounces Au----------------------------------------------------------------------------West Zone 1,460,000 5.52 259,000----------------------------------------------------------------------------East Zone 1,060,000 5.72 195,000----------------------------------------------------------------------------Total 2,520,000 5.60 454,000----------------------------------------------------------------------------
