Globex options former Eagle Gold Mine to Maple Gold

GLOBEX MINING ENTERPRISES INC. has optioned the 77-hectare, Eagle Gold Mine property located in Joutel township, Quebec to Maple Gold Mines Ltd.

Under the agreement, Maple has the option to pay $1,200,000, half in cash and half in shares, over a 5-year period to Globex and undertake $1,200,000 in exploration over 4 years in order to earn 100% interest in the Eagle Gold Mine property. 

Globex will retain a 2.5% Gross Metal Royalty (GMR) of which 1% GMR may be purchased by Maple prior to commercial production for $1,500,000.

The Eagle Gold Mine adjoins the historic Telbel Gold Mine which together are reported to have produced 6,168,773 t grading 6.57 g/t Au. Historical resources at the Eagle Mine property are estimated at 277,710 t grading 5.83 g/t Au. (Source: SIGÉOM –Cogite number: 32E/08-0005).

Globex continues to hold a large package of claims in Joutel and adjoining Valrennes townships including the historic copper/zinc Poirier Mine which has reported production of 4,670,000 T grading 2.22% Cu and 748,000 T grading 5.58% Zn. A historical resource of 1,400,863 T grading 1.24% Cu and 9.77% Zn in the West and Q Zones, 300,000 T grading 8.05% Zn in the East lens and 534,000 T grading 2.5% Cu in the Main Zone are reported in a 1990 report by Bharti Engineering Associates Inc.

In addition, Globex owns the Joutel Copper Mine which produced 1,167,000 t grading 2.16% Cu between 1967 and 1975 and 372,400 t grading 8.88% Zn from 1972 and 1975 (Source: Dubé, 1993 – ET-90-12). In 1994, Aur Resources Inc. estimated a historic resource of 242,800 t grading 10.37% Zn (Source: Martin and Britt, 1994 – internal report, project # 16706). Globex also owns the Eagle Northwest property consisting of 11 kilometres of the Eagle /Telbel gold localizing horizon extending northwest from just beyond the Eagle Mine, and the historic Gagné mineralized area, located south of the Eagle Northwest property, where trench samples are reported to have returned 0.79 oz./t Au over 5 feet (27.09 g/t Au over 1.52 m), 0.44 oz./t Au over 5 feet (15.09 g/t Au over 1.52 m) and 0.52 oz./t Au over 5 feet (15.09 g/t Au over 1.52 m) (Source: Parent, 1981 – GM37949), and finally the Joutel P5 mineral occurrence where drill hole KR-96-08 returned a 2.21 metre intersection grading 7.86% Cu, 72.2 g/t Ag and 0.31 g/t Au (Source: Caillé, 1996 – GM54483).

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