Globex Mining Enterprises Inc. (TSX: GMX, OTCQX: GLBXF, Frankfurt: G1MN) shareholders received positive updates on metallurgical test work from two of the company’s royalty properties. The results indicate favorable processing options for both gold and lithium projects.
Radisson Mining Resources reported initial milling test results for their O’Brien Gold Project, which includes properties on which Globex holds royalties. Gold recoveries ranged from 86% to 96% across various flow sheet options compatible with the nearby Doyon-Westwood mill. These results suggest minimal additional capital would be required to process O’Brien ore at the existing facility.
The O’Brien Project encompasses the Kewagama Gold Mine, where Globex maintains a 2% Net Smelter Royalty (NSR), and the New Alger Gold Mine, subject to a 1% NSR held by Globex. Radisson’s findings support the feasibility of using the Doyon-Westwood mill as a processing option for the project.
Meanwhile, Brunswick Exploration announced encouraging metallurgical results from its Mirage Project, located on Globex’s Lac Escale claims. Globex holds a 3% Gross Metal Royalty on this property. Preliminary testing indicates the potential for a simplified and cost-effective processing flow sheet.
Brunswick’s tests have revealed several promising results for their lithium processing operations. The company has identified a potential flow sheet that involves crushing followed by dense media separation, eliminating the need for flotation. Preliminary heavy liquid separation tests achieved impressive recoveries of 76%, producing a 5.5% Li2O concentrate. Further dense media separation testing yielded a 68.4% recovery rate with a slightly higher 5.7% Li2O concentrate. Notably, the concentrates exhibited low iron content, indicating high-quality spodumene with minimal impurities. These findings suggest that Brunswick’s processing method could be both efficient and effective in producing high-grade lithium concentrates.
The results point to the possibility of lower milling operating costs compared to projects requiring more complex processing. Brunswick plans to conduct further metallurgical work in 2025 to optimize these initial findings.
These developments are significant for Globex, as positive metallurgical results can enhance the economic viability of projects on which the company holds royalties. Improved processing efficiencies and recoveries typically lead to increased production and potentially higher royalty revenues for Globex in the future.
As exploration and development activities continue on these properties, Globex shareholders will undoubtedly be watching closely for updates that could impact the value of the company’s diverse royalty portfolio. The mining sector’s growing focus on critical minerals like lithium, combined with the enduring appeal of gold projects, positions Globex to potentially benefit from advancements across multiple commodities.