Globex’s Talc‐Magnesite Project Moves to Next Stage of Development
Thursday, 17 March 2011 12:05
Globex Mining Enterprises Inc. informed shareholders that it has signed contracts with Micon International Limited and Jacobs Engineering Group Inc. (formerly Aker Solutions Canada Inc.) to produce a NI 43‐101 conformable prefeasibility study on Globex’s 90% owned (10% Drinkard Metalox Inc.) and managed Timmins area talcmagnesite project in Ontario.
The independent prefeasibility study is expected to be completed by September 2011 and will provide details to enable Globex to evaluate the costs and economics of an open pit mine and a processing facility to produce magnesium and talc products. The study will provide a base case evaluation including capital and operating costs and the technical design upon which a final feasibility study will be constructed.
To date, Globex has completed extensive laboratory metallurgical tests, a mini pilot plant study and an internal Scoping Study. Diamond drilling, assaying and mineralogical studies were undertaken which outlined a large body of talc‐magnesite mineralization. Environmental baseline studies are ongoing including water testing from a series of drill holes done for this express purpose. Consultations with various groups implicated in the permitting of the property for production have been initiated and additional mineral claims were acquired.
