- Globex Mining Enterprises Inc. (GMX) and Cartier Resources Inc. (ECR) sign a letter of intent to acquire the East Cadillac property in Quebec, from O3 Mining Inc. (OII)
- The East Cadillac property covers 29,754 hectares
- It has an indicated resource of 684,000 ounces of gold and 1.35 million ounces of gold in the inferred resource category
- Globex Mining Enterprises Inc. (GMX) is down 4.51 per cent trading at $1.27 per share as of 12:26 p.m. EST
- Cartier Resources Inc. (ECR) is down 3.45 per cent trading at $0.14 per share as of 12:27 p.m. EST
- O3 Mining Inc. (OIII) is unchanged trading at $2.33 at 12:34 p.m. EST.
Globex Mining (GMX) and Cartier Resources (ECR) have signed a letter of intent to acquire the East Cadillac property in Quebec, from O3 Mining Inc.
The East Cadillac property covers 29,754 hectares, including Cartier’s original Chimo Mine property, with an indicated resource of 684,000 ounces of gold and 1.35 million ounces of gold in the inferred resource category.
There are 54 claims within the property totalling 1,454 hectares on which Globex holds a three per cent gross metal royalty consisting of the Nordeau East and West properties and the Bateman claims.
In addition to the reported resource, the property has intersected numerous areas of gold mineralization during drilling.
Globex is satisfied with Cartier’s move to consolidate the gold potential of the area and looks forward to Cartier’s further advancement of exploration on Globex’s gold royalty asset.
In other news, Globex has received the first $100,000 cash payment from Infini Resources Pty Ltd. as a part of an initial payment to acquire Globex’s des Herbiers uranium property in Quebec.
Globex Mining Enterprises Inc. (GMX) is down 4.51 per cent trading at $1.27 per share as of 12:26 p.m. EST.
Cartier Resources Inc. (ECR) is down 3.45 per cent trading at $0.14 per share as of 12:27 p.m. EST.
O3 Mining Inc. (OIII) is unchanged trading at $2.33 at 12:34 p.m. EST.
