Orford Mining Provides Update on Optioned Globex Joutel Property
06 Abril 2022 - 8:00AM
GLOBEX MINING ENTERPRISES INC. (GMX –
Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin,
Munich, Tradegate, Lang & Schwarz, LS
Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock
Exchanges and GLBXF – OTCQX
International in the US) is pleased to inform shareholders
that below, you will find the portions of Orford Mining Corp’s
(ORM-TSXV) press release dated today April 6, 2022 dealing with the
Joutel Eagle Gold Project optioned
from Globex Mining Enterprises Inc. (see
Globex press release dated November 30, 2021 ).
David Christie, President and CEO of Orford,
commented, “Orford believes its South Gold Zone at Joutel
Eagle currently being drilled has great
potential…………….”
Joutel Eagle Gold Project
Orford is currently in the middle of its
first drilling program at its Joutel Eagle project in the Joutel
district of the Abitibi Province of Quebec. On November 30,
2021 Orford announced that had entered an option to acquire 100% of
the 50 square kilometre Joutel Eagle Project from Globex Mining
Enterprises Inc. (TSX: GMX) (OTCQX International: GLBXF)
(Frankfurt: G1MM). The drilling program follows a
digital compilation of the historic work that had been completed on
the project. The focus of the current 1,500 metre drill
program is the “South Gold Zone” which contains a steeply dipping
gold bearing veins with grades of up to 6.4 g/t over 2.7[1] metres
in historic drilling that is open at depth. A diamond
drilling program was to start at the end of February but was
delayed by a couple weeks until mid-March due to drill
availability. Two holes have been drilled to date, and we are
currently drilling the third hole of a 6 -7 hole
plan. The first two drill holes intersected variably
mineralized sections with variable amounts of quartz veining and
sulphides within sheared lapilli to ash volcaniclastics
comparable to those mineralized intervals described by the
historic drilling. The historical technical information
presented in this release relating to Joutel-Eagle was obtained
from historical work reports filed with the Quebec Ministry of
Energy and Natural Resources and has not been independently
verified by a Qualified Person as defined by NI 43- 101
The “South Gold Zone” has a strike length of
approximately 700 metres and is partially tested to a depth of 500
metres below surface. The South Gold Zone is comprised of two
mineralized zones, a steeply dipping vein zone with grades of up to
6.4 g/t over 2.7 metres (hole 89-A-02)[2], and a lower grade zone
associated with the regional Harricana Fault which seems to be
plunging to the southeast. The best grade intersection of
the vein zone was also the deepest leaving high grade
mineralization open at depth. The long section in Figure 2
shows how widely spaced the drilling has been both at shallow and
deeper levels. In addition, Figure 2 shows holes in the compilation
where mineralization and alteration similar to high grade zones in
nearby holes were intersected (quartz veining, silica flooding with
up to 70% pyrite), but assay results are not available as they were
redacted from the drill logs by the operating company at the time
upon reporting to the public database. The current drilling program
aims to confirm historical results and delineate the full extent of
mineralization to determine if a resource can be defined at the
South Gold Zone. The first two drill holes intersected
considerably more sulphide mineralization and Quartz veining than
we were expected based on historical information and as a
result the holes continued beyond the planned depth. 2022 Drill
hole summaries for these two holes are below (assays are
pending):
Drill hole 22-JE-001, was planned to confirm the
historical results intersected in drill hole 82-01 which reported
6.2 metres grading 3.0 g/t (including 2.7 metres grading 6.5 g/t)
[3] (figure 2). 22-JE-001 intersected altered volcaniclastics with
variable amounts of silica and alteration and quartz veining
consistent with the historical 82-01 which ended at 180m. Variable
Pyrite and pyrrhotite was observed throughout the hole as
disseminated and banded to semi massive sulphides. A 33.9
metre interval from 213.1 to 247 metres reported up to 35% quartz
and 15% Po-Py locally over 40 centimetres with an average of 5%
disseminated and banded sulphides throughout the almost 34 metre
interval. Measurements collected via portable X-ray fluorescence
(pXRF) suggests some of the sulphides are gold bearing however due
to the nature of pXRF readings, they cannot be consisted
representative. Core will be prepared for laboratory
analysis. Observations made in 22-JE-001 are consistent with
the historical 82-01, in addition, hole 22-JE-001 continued
beyond the original planned depth of 82-01 and encountered new and
previously unknown mineralization after 180 metres including
sulphides and veining to the end of the hole at 246
metres.
Drill hole 22-JE-002, intended to confirm
results encountered in the historical diamond drill hole 82-02
which was reported to return 14.4 metres grading 1.6 g/t (including
2.6 metres grading 5.3 g/t) [4] (figure 2). 22-JE-002 encountered
the similar altered pyroclastic units with variable deformation and
amounts of pyrite and pyrrhotite throughout. 82-02 Ended in a
massive graphitic unit at 206m. Hole 22-JE-002 encountered a
similar unit at approximately 200m which contained sulphide
nodules. Hole 22-JE-002 continued into a dacitic quartz-feldspar
porphyritic unit between 200 and 213 metres containing up
to 35% quartz veining with moderate potassic alteration, and 1%
disseminated very fine to medium grained cubic pyrite. The
remainder of the hole alternates between altered pyroclastic and
graphite schists with local quartz alteration and several
places where semi massive to massive sulphides are observed.
Measurements collected via portable X-ray fluorescence (pXRF)
suggests some of the sulphides are gold bearing however due to the
nature of pXRF readings, they cannot be considered
representative. Core will be prepared for laboratory
analysis. Observations made in 22-JE-002 are consistent with
the historical 82-02, in addition, hole 22-JE-002 continued beyond
the original planned depth of 82-02 and the first massive graphite
marker horizon and encountered new and previously unknown
sulphide mineralization and veining after 206m.
Table 1: Joutel Eagle: South Gold Zone Frist Two
Drill Hole Co-Ordinates
Azimuth |
Dip |
Easting |
Northing |
Length (m) |
Target Depth |
Purpose |
Hole ID |
30 |
-65 |
684280 |
5490444 |
247 |
74-75m, 111-114m, 128-141m, 156-165m, 174-178m |
Twin hole 82-01 |
22-JE-ORM-001 |
30 |
-70 |
684213 |
5490488 |
246 |
144-148m, 154-195m |
Twin hole 82-02 |
22-JE-ORM-002 |
30 |
-50 |
684262 |
5490480 |
In progress planned: 150 |
96-99m, 51-55m, 88-94m, 118-124m |
Twin hole 80-19 |
22-JE-ORM-003 |
Total Drilled to Date (m) |
643 |
|
|
|
Figure 2: Long Section through the South Gold
Zone Showing Historical Compilation Results and Drill Target Areas
(Holes where assays are not available because they were redacted
from reported drill logs are shown as
“N/A”).https://www.globenewswire.com/NewsRoom/AttachmentNg/337cb4fa-af76-4f80-a027-43d8b08ed18e
The historical technical shown in this image was
obtained from historical work reports filed with the Quebec
Ministry of Energy and Natural Resources and has not been
independently verified by a Qualified Person as defined by NI 43-
101. All drilling intervals are down-hole lengths. True thicknesses
cannot be estimated with available information.”
Globex is very pleased with the rapid work
program being undertaken by Orford and the positive visuals from
the core as reported by Orford.
This press release was written by Jack Stoch,
Geo., President and CEO of Globex in his capacity as a Qualified
Person (Q.P.) under NI 43-101.
We Seek Safe Harbour. |
Foreign Private Issuer 12g3 – 2(b) |
|
CUSIP Number 379900 50 9 |
|
LEI 529900XYUKGG3LF9PY95 |
For further information, contact: |
Jack Stoch, P.Geo., Acc.Dir. |
|
President & CEO |
Tel.: 819.797.5242 |
Globex Mining Enterprises Inc. |
Fax: 819.797.1470 |
86, 14thStreet |
info@globexmining.com |
Rouyn-Noranda, Quebec Canada J9X 2J1 |
www.globexmining.com |
Forward Looking Statements:
Except for historical information, this news release may contain
certain “forward looking statements”. These statements may
involve a number of known and unknown risks and uncertainties and
other factors that may cause the actual results, level of activity
and performance to be materially different from the expectations
and projections of Globex Mining Enterprises Inc. (“Globex”).
No assurance can be given that any events anticipated by the
forward-looking information will transpire or occur, or if any of
them do so, what benefits Globex will derive therefrom.
A more detailed discussion of the risks is available in the “Annual
Information Form” filed by Globex on SEDAR at www.sedar.com.
[1] 1 Système d'information géominière of Québec
“SIGEOM”, Quebec Ministry of Energy and Natural Resources. April
20,2020 DV93-01[2] 1 Système d'information géominière of Québec
“SIGEOM”, Quebec Ministry of Energy and Natural Resources. April
20,2020 DV93-01[3] Système d'information géominière of Québec
“SIGEOM”, Quebec Ministry of Energy and Natural Resources. GM
39763: JOURNAL DE SONDAGES, PROJET VALRENNES A, 1982[4] Système
d'information géominière of Québec “SIGEOM”, Quebec Ministry of
Energy and Natural Resources. GM 39763: JOURNAL DE SONDAGES, PROJET
VALRENNES A, 1982
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