Globex Mining Enterprises Inc. (TSX: GMX, OTCQX: GLBXF) has announced significant advancements in its drilling program at the Ironwood gold project, located in Cadillac Township, Quebec. This project, which is entirely owned by Globex, is situated approximately 2.6 kilometers east of Cadillac and has shown promising results from recent infill drilling efforts.
The latest assay results reveal substantial gold mineralization within a pyrite, pyrrhotite, and arsenopyrite sulphide replacement zone at various depths, ranging from 9 meters to around 225 meters vertically. These findings build on previous reports and indicate that the mineralized envelope is not only widening with depth but also toward the core of the orebody. Notably, drill hole SIW 24-03 returned an impressive 16.63 grams per tonne (g/t) of gold over a true width of 11.08 meters at a vertical depth of 165 meters. This is complemented by results from hole SIW 24-01, which yielded 21.78 g/t Au over 2.62 meters at a depth of 142 meters.
The latest drilling efforts have produced several notable results:
Globex has completed a total of 18 drill holes, with seven primarily focused on establishing the boundaries of the mineralized zones near the surface.
The Ironwood gold deposit is part of Globex’s Central Cadillac-Wood Gold Mines property, which includes historical mining sites with previously documented resources and extensive geological data that have been digitized for further analysis and exploration planning.
Globex’s strategy involves leveraging this historical data to identify gold trends and potential drill targets, particularly along the Cadillac Break—a well-known mineralized structure in the region that hosts several significant deposits.
As the drilling program progresses, Globex aims to confirm and upgrade the existing inferred resources while exploring for potential extensions beyond the currently defined boundaries of the deposit. The company has mobilized two drilling rigs for this phase of exploration, which consists of at least 17 planned holes targeting both infill and boundary delineation.
The samples collected during this drilling phase were processed by MSALABS in Val-d’Or, Quebec and Jack Stoch, P. Geo., President and CEO of Globex was the Qualified Person (Q.P.) under NI 43-101 reviewing the results, with technical input from Pierre Riopel, P. Geo.
With these promising results from the Ironwood project, Globex Mining is poised to enhance its position in Quebec’s competitive gold mining sector while potentially unlocking further value through continued exploration and development efforts in this historically rich mining region.
