The Prospector News

Globex Options Kachiwiss Uranium Area Properties

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Globex Options Kachiwiss Uranium Area Properties

 

 

 

 

GLOBEX MINING ENTERPRISES INC. (TSX:GMX) (FRA:G1MN) (OTCQX:GLBXF)  is pleased to announce that it has entered into an option agreement wherein Victory Battery Metals Corp. (CSE:VR) (OTC Pink:VRCFF) (FRA:VR6) may earn 100% interest in four Globex claim groupings in the Sept Iles region of Quebec.

 

The claims cover the Kachiwiss Uranium deposit with a reported historical, non-Ni 43-101, possible resource of 16,598,000 tonnes grading 0.016% U3O8 within a pegmatic dyke oriented NW45o. The zone, as currently defined, measures 975 metres long by 610 metres to 760 metres wide and is open. Metallurgical test work suggests recoveries of up to 92.9% can be achieved. (Source: Quebec Government files in Sigeom)

 

In addition to the Kachiwiss deposit, the option includes a large package of claims covering lake bottom sediment sample uranium anomalies farther to the north. In total, 156 mining claims make up the package with Globex retaining a 10-kilometre area of mutual interest surrounding the current claim blocks. Under the agreement, Globex will receive $400,000 in cash and 1,500,000 Victory shares over 3 years with Victory undertaking $3,000,000 of work on the claims over a 4-year period. Globex also retains a 3% Gross Metal Royalty on all metals, minerals, elements or compounds including but not limited to uranium, thorium or any other marketable product from the claims. Victory may, at anytime, purchase 1% GMR from Globex for a single cash payment of $1,000,000.

 

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person under NI 43-101.

 

Posted April 18, 2024

Share this news article

MORE or "UNCATEGORIZED"


Fortuna intersects 31.3 g/t gold over 12.0 meters from the Karakara Prospect at the Diamba Sud Gold Project

Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to provide... READ MORE

June 25, 2024

Patriot Drills 124.9 m at 1.72% Li2O and 35.6 m at 3.78% Li2O in Final Batch of CV5 Assays Ahead of Q3 Resource Update

Highlights Continued strong lithium mineralization over wide int... READ MORE

June 25, 2024

Imperial Announces Amendment of $34.47 Million of Non-Convertible Debentures

Imperial Metals Corporation (TSX:III) announces that it has amend... READ MORE

June 25, 2024

Madison Metals Drilling Confirms High-Grade Uranium at Khan Project in Namibia, Africa

Madison Metals Inc. (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is ple... READ MORE

June 25, 2024

NorthWest Copper Reports Positive Metallurgical Recoveries of 94% Copper, 71% Gold and 92% Silver at the Lorraine Deposit

NorthWest Copper (TSX-V: NWST) is pleased to report that  positi... READ MORE

June 24, 2024

Copyright 2024 The Prospector News