Read the story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Globex Mining options former Eagle gold mine in Quebec to Maple Gold Mines

% of readers think this story is Fact. Add your two cents.

Globex Mining Enterprises Inc (TSE:GMX) (OTCQX:GLBXF) (FRA:G1MN) said it has optioned the 77-hectare, past-producing Eagle gold mine property in Quebec to Maple Gold Mines Ltd (CVE:MGM).

Under the agreement, Maple Gold Mines has the option to pay C$1.2 million, half in cash and half in shares, over a five-year period to Globex and undertake C$1.2 million in exploration over four years in order to earn a 100% interest in the Eagle property.

As well, Globex will retain a 2.5% Gross Metal Royalty (GMR) of which a 1% GMR may be purchased by Maple Gold Mines for C$1.5 million before commercial production begins.

READ: Globex Mining Enterprises to sell Québec project to major Yamana Gold in deal worth over C$15M

Globex noted the Eagle gold mine adjoins the historic Telbel gold mine, which together have produced 6,168,773 tonnes grading 6.57 grams per tonne (g/t) gold.

The company said historical resources at the Eagle mine property are estimated at 277,710 tonnes grading 5.83 g/t gold.

Globex said it continues to hold a large package of claims in Quebec’s Joutel and adjoining Valrennes townships including the historic copper/zinc Poirier mine, which has reported production of 4,670,000 tonnes grading 2.22% copper and 748,000 tonnes grading 5.58% zinc.

The company also owns the Joutel copper mine, which produced 1,167,000 tonnes grading 2.16% copper between 1967 and 1975 and 372,400 tonnes grading 8.88% zinc from 1972 and 1975.  

Globex Mining Enterprises is an exploration, royalty, and property bank company with a diversified portfolio of mid-stage exploration, development, and royalty properties in Canada, Germany, and the US.

Contact Sean at [email protected]

Story by ProactiveInvestors


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.