Globex Acquires Three Lithium Properties in Quebec

May 2, 2016

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Globex Mining Enterprises (TSX: GMX) has announced that it has acquired three lithium projects located in Quebec in between the towns of Amos and Val D’Or.

As quoted in the press release:

The projects called the Chubb, Bouvier and McNeely properties all have recorded spodumene (lithium mineral) occurrences in surface showings, trenches and drill holes. In all properties, multiple spodumene bearing pegmatite dykes are reported with spodumene content of up to 20% reported in some dykes.

Globex acquired 100% interest in the properties in exchange for undertaking the renewal of certain claims and reserving a one percent (1%) Net Smelter Royalty (NSR) for the vendor which may be purchased by Globex at any time for $200,000.

Chubb Property, LaCorne Township

  • Spodumene bearing pegmatite dykes varying from 1.6 to 6 m width
  • Spodumene content varying up to 15% and tested to a depth of 100 m and length of 300 m
  • Most recent drill holes 1.68 Li02 wt % over 3.72 m and 1.25 Li02 wt % over 2.38 m

Bouvier Property, Figuery Township

  • Spodumene bearing pegmatite dykes varying from 5 to 14 m width
  • Spodumene content varying up to 25% and tested along a strike length of 183 m by drilling and trenching

Source: Technical Report and Recommendations on three Li-Mo properties associated with the Preissac-Lacorne Batholith in the Abitibi Sub-province, Quebec, Canada: The Chubb, International and Athona properties” written on February 5, 2010.

McNeely Property, LaCorne & Landrienne Townships

  • Spodumene bearing pegmatite dykes
  • Drill holes up to 1.0% Li over 2.44 m
  • Geological similarity to the Quebec Lithium Mine

Source: Sigéom Examine Quebec government Internet Site 32C/05-0018

Click here for the full press release.

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Category: Energy