- Globex (GMX) provided an update on drilling by Maple Gold Mines (MGM) on the Eagle Mine property
- The new drill results support earlier interpretations that gold mineralization occurs over multiple sub-parallel horizons over a stratigraphic thickness of more than 100 metres
- The team identified a potential southern splay of the main mine horizon, northwest of the past-producing Eagle mine in an area targeted for follow-up drilling
- Globex (GMX) is currently trading at $0.81 per share
- Maple Gold Mines (MGM) is up 2.27 per cent, trading at $0.225 per share, as of 10:05 am ET
Globex (GMX) provided an update on drilling by Maple Gold Mines (MGM) on the Eagle Mine property.
Under option from Globex, Maple announced the final results from five follow-up holes from the project, located in Québec.
The new drill results support earlier interpretations that gold mineralization occurs over multiple sub-parallel horizons over a stratigraphic thickness of more than 100 metres. The team identified a potential southern splay of the main mine horizon, northwest of the past-producing Eagle mine in an area targeted for follow-up drilling.
Highlights:
- Drill hole EM-22-015 intersected 10.3 g/t gold (Au) over 7.8 metres, including 41.1 g/t Au over 1.0 metre in the North Mine Horizon
- Further up-hole, EM-22-015 intersected 4.3 g/t Au over 3.9 metres, including 6.6 g/t Au over 2.0 metres, leading the team to believe that the North Mine Horizon is wider than what was previously interpreted
- The EM-22-015 intercepts are located down-plunge from historical high-grade, near-surface drill results from a geologically similar hole (E-19: 19.6 g/t Au over 7.9 metres, as well as 17.5 g/t Au over 5.6 metres further up-hole) in an area with limited drilling that remains open further down-plunge
- EM-22-015 has now returned seven separate intercepts over a 120-metre interval starting from 142.5 metres downhole
Maple Gold’s CEO, Matthew Hornor, stated that drill results continue to support the company’s view that multiple sub-parallel gold horizons exist beyond what was historically mined at Eagle and have expanded our target areas along a broader mineralized corridor over a stratigraphic thickness that now exceeds 100 metres in width.
“There is an apparent concentration of more than 10 g/t gold starting near surface and extending down-plunge to the EM-22-015 intercepts along the North Mine Horizon in an area with limited drilling that remains open further down-plunge. This represents just one of several compelling follow-up targets that we are excited to pursue in 2023.”
Globex Mining Enterprises is engaged in the acquisition, development, and exploration of mineral properties in North America.
Globex (GMX) is currently trading at $0.81 per share.
Maple Gold Mines (MGM) is up 2.27 per cent, trading at $0.225 per share, as of 10:05 am ET.