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Globex Mining Enterprises Inc. and Queenston Mining Inc. updated shareholders on the results of a five hole, 2,405 meter drill program undertaken on the 50%‐50% Wood Pandora joint venture property, located near Cadillac, Quebec.
Four of the holes were completed to follow up the drilling results from twelve previous holes announced earlier this year. The drilling targeted the Cadillac Break in the area of the No. 3 Shaft Zone that historically produced, from 1939‐42 approximately 13,000 oz. of gold from 178,231 tonnes grading 4.7 grams per tonne Au. New holes W‐11‐89 to ‐92 all intersected gold values within or adjacent to the Cadillac Break. One of the deepest holes of the program, W‐11‐92, intersected a 4.9 m interval assaying 28.86 g/t gold including 121.70 g/t gold over 1.1 m at approximately 350 m below surface. A fifth drill hole, W‐11‐88, targeted an interpreted structural feature near the Amm Shaft on the southern portion of the joint venture property. This drill hole returned no significant mineralization. Gold mineralization occurs across the full width of the Cadillac Break with the greatest concentrations both within the break and in the adjacent Cadillac sediments to the north. The mineralization consists of free gold in quartz with associated gold‐bearing arsenopyrite and other sulphides commonly controlled by near‐vertical shear structures and subsidiary horizontal tension fractures. Previous operator, Camflo Mines, commenced a surface drilling program in 1979 outlining a drill indicated mineral resource to a depth of 200 m at the No. 3 Shaft Zone. Subsequent underground exploration was inconclusive in defining a shallow mineable deposit at the prevailing gold price at the time. The Wood‐Pandora property is adjacent to the Lapa Mine operated by Agnico‐Eagle Mines Inc. On the JV property there exist an historic mineral resource of 1.43 million t grading 5.3 g/t Au in two deposits, Wood and Central Cadillac. The historic resource was calculated prior to NI 43‐101 standards and should not be relied upon as they have not been verified by a Qualified Person under the current regulations. In 2008, the JV announced a NI 43‐101 inferred mineral resource on a new gold discovery, the Ironwood Zone, amounting to 243,200 t grading 17.3 g/t Au. More information, click here. |
