Globex Mining Acquires Copper-Nickel-PGMs-Cobalt Project in Quebec

Globex Mining Enterprises Inc. (TSX:GMX) announced that it has acquired six cells covering 350 hectares in Quebec’s Blondeau Township. The cells cover the Kelly Lake copper-nickel-platinum-palladium-cobalt project.
As quoted in the press release:

Work by previous companies and compiled for Loubel Exploration Inc. reports a historical Indicated Mineral Resources of 1,400,000 tonnes grading 0.7% Ni and 0.7% Cu with potential Pt and Pd grades of 0.7 g/t and 0.6 g/t respectively to a depth of 335 metres and open to depth.

The release also states:

In 1968, a composite sample of 4 HQ drill holes weighing 2,800 kg (6,200 lbs) representing 206m (676 feet) of drill core was drilled for metallurgical testing purposes and assayed 0.77% Ni, 0.63% Cu, 4.10 g/t Ag, 0.10 g/t Au and 0.99 g/t Pt and Pd combined. Metallurgical tests on this composite sample also indicated 0.05% Co and 0.03 g/t rhodium content.
In 2002 seven BQ drill holes were completed on the Kelly zone by Tom Exploration and Loubel Exploration after the Charlton report. Individual drill hole element assays of up to 1.80 Ni, 2.87 % Cu, 0.08% Co, 1.12 g/t Pt, 0.67 g/t Pd, 11.0 g/t Ag and 0.38 g/t Au were reported as in drill holes K‐02‐117 and 122. Earlier holes such as HQ hole K‐3H‐69 drilled in 1969 for metallurgical studies reported up to 4.83 g/t PGM’s over 2.25m. Much more work is required on the Ag, Au, PGM, Co and Rh elements as much of the historical work was focused toward the Ni and Cu content and there were few assays for Co, Ag, Au, Rh and platinum group metals other than in the most recent drilling and in metallurgical test work.
Historical work on the property consisted of mapping, stripping, geophysics, drilling and several types of metallurgical studies including bacterial oxidation and several feasibility studies.

Click here to read the full Globex Mining Enterprises Inc. (TSX:GMX) press release.

Source: www.stockwatch.com