Globex Mining hires Novatem for survey of its large Opinaca River gold property in Canada

Globex Mining hires Novatem for survey of its large Opinaca River gold property in Canada

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Globex Mining Enterprises Inc (TSE:GMX) (OCTMKTS:GLBXF) told investors on Tuesday that it had hired Novatem to undertake a survey of its large Opinaca River gold property, in Canada. The Canadian exploration, royalty and property portfolio company said Novatem will carry out the detailed, 25-metre spacing aeromagnetic survey over its Opinaca River gold property located on strike to the southwest of Azimut's gold discovery. The property covers 13 kilometers of the rock units that house the Elmer gold discovery and totals 65 claims including four separate claims to the north. The 3,431-hectare property adjoins both the south and northwest Dios K2 gold target which has completed drilling. In other quick updates, Globex said it has acquired a permitted Silica Quarry in Wyse township, Ontario near the Quebec border and is waiting on court approval. The purchase includes an array of stackers, two 43-foot house trailers, a large hydraulic shovel, a generator and equipment. The property has a large historical resource of high-grade silica grading in the range of more than 98% SiO2. READ: Globex Mining says more work warranted at Laguerre-Knutson-Raven River gold project in Ontaro following drill results Separately, Globex said it has optioned the Lac Suzanne Nord nickel, copper, cobalt property to Enertourbe Inc. The property has three claim packages totaling 23 claims spread over 1,278 hectares. Numerous showings of nickel, copper and cobalt in sulphides occur on all the claim packages, said the company. “We have also signed a number of CA's wherein companies are undertaking due diligence on a number of Globex's properties. Data has been made available to the various parties and studies are ongoing,” said the company. Globex told investors the price of metals has been “rising steadily” especially gold, copper and zinc. “The rising zinc price is reflected in rising royalty payments from Nyrstar's operations at our Mid-Tennessee royalty property,” said the company. Significantly, payments have shot up to over $100,000 per month, and are expected to rise as zinc prices continue to climb. In a positive, Globex said it has “strong” cash and share positions in other companies, “no debt,” and owns all it's 190 assets and has only 55 million shares issued and outstanding. “Revenue from options continues,” said the company. For instance, Tres-Or has confirmed that the $200,000 option payment on the Fontana gold property will be made by January 11, 2021. The exploration, royalty and property giant said O3 is working on its Nordeau East and West royalty property located east of Val-d'Or, in Quebec. Similarly, Tres-Or and Kiboko are working on the optioned Fontana gold property, while Renforth Resources is completing a first phase 7,000-metre drill program of a 15,000-meter program on its Parbec gold royalty property. In the meantime, Radisson Mining is drilling on adjoining claims on gold zones that plunge into the group’s Kewagama Gold Mine royalty asset, while Excellon Resources is completing over 14 drill holes on the group’s Silver City option in Saxony, Germany. “We have been focused on understanding the potential of our advanced assets and have completed 3D models of a number of our advanced properties, including the Francoeur Gold Mine, Vauze polymetallic mine, Ramp Gold Mine, Wrightbar Gold Mine, Tarmac Gold Zones, Standard Gold Mine, Lac Fortune Gold Mine, Blackcliff Gold Mine (in partnership with Altai Resources) among others,” said the company. Globex has flown aeromagnetic surveys over its Francoeur/Arntfield/Lac Fortune gold property, Silidor/New Marlon Gold Mine property, Standard Gold Mine property, Blackcliff Gold Mine property, Laguerre/Knutson gold property, and its Courville, Venus, Randall and Napping Dwarf properties and its McNeely lithium project. Novatem has been roped in to run aerial surveys over several Globex properties in 2021, added the company. Contact the author Uttara Choudhury at uttara@proactiveinvestors.com Follow her on Twitter: @UttaraProactive

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