Hunters Point Gold Uranium Showing

Atwater Township, Quebec

NTS 31L/15

Property

The Hunters Point property consists of 386 claims totalling approximately 24,984 hectares spread across Atwater, Bellefeuille, Booth, Couturier, Gaulin, McLachlin, Pommeroy, Reclus and Villedieu townships, Quebec.  In early 2005, an additional 5 properties were staked to cover areas of known uranium mineralization. They are as folllows:

Ownership

Globex owns 100% of the property

Access

The claims may be reached by road from St. Place de Bearn, 35 miles to the northwest or by float plane from Kipawa, 17 miles to the southwest.

History

The original showing was discovered in 1957 by Garfield Jones of Kipawa who subsequently optioned the ground to Belleterre Quebec Mines Limited.  Belleterre Quebec Mines Limited initially drill 12 short holes in the showing area and drove a tunnel into the showing going southward at an angle of 25 degrees for a length of seventy-five feet.  Subsequently, a second discovery was made about 2 mile southwest of the original showing.  This led to a total of 12,062 feet of shallow drilling as well as some stripping and surface sampling being undertaken on both showing areas and the enveloping band of quartzite.

In 1967, Multi Minerals Limited acquired the property and drilled 17 holes totalling 5,043 feet principally in the main showing and southwest showing area.  In 1969, Gunnar Mining Ltd., engaged Canadian Aero-Mineral Surveys to fly an airborne Gamma Ray Spectrometer survey over a wide belt of rocks including the showing area.  The Hunters Point showing was recorded as a strong anomaly.  Many other anomalous conditions were also located.

In 1980, the area was staked by Géoconseils Jack Stoch Ltée., which optioned the property to Canadian Occidental Petroleum Limited.  Occidental flew an airborne spectrometer survey over the claim area as well as the strike extension of the gold-uranium bearing quartzite.  Subsequently, they performed mapping and humus and rock geochemistry on the claim group along with limited scintillometer work.  No follow-up diamond drilling was performed.

Globex acquired the property in 2005 and subsequently optioned it to Noront in 2006.  An airborne radiometric and magnetometer survey was completed in 2006 by GPR International.  This airborne survey was followed up by InnovExplo who carried out a geology, scintillometer and Beep Mat survey on behalf of Noront in 2007.  This work lead to the discovery of the Coconut Club showing, a uranium-thorium and rare earth element (lanthanum and cerium) showing located on the Main Hunter’s Point property.  Noront later dropped its option that year.

Geology

General Geology

The property falls within Precambrian Grenville type rocks consisting of formations of parageneiss, quartzite, granite gneiss and garnet gneiss.  The property in a regional sense is on the western outer edge of a large basinal structure which may be a synclinorium.

Local Geology

The main showing and south showing are confined to a band of normally pale grey sericitic quartzite which has an average width of 200 feet but which widens to the northeast (up to 300 feet).  Sericite makes up from 5 to 25 percent of the rock unit.  The quartzite is sandwiched between biotite and hornblende paragneisses.

Rock units in the showing area strike roughly N45^"E and dip southeast at from 55 to 80 degrees.  Vertical joints striking N45 to 55^"W are common.

Economic Geology

In the main showing area, high uranium oxide and gold values were obtained.  The uranium occurs in the following forms - pichblende, uranophane, soddyite and cupriferous sklowdowskite.  Significant gold assays are recorded but no free gold was observed nor is there any record of its provinance of form. 

Values of lead, silver and minor copper are noted and the following sulphides were recorded in one ore sample, pyrite, chalcopyrite, pyrrhotite, bornite, covellite, galena and tetrahedrite.

Two grab samples from the mineralized zone returned the following:

At the main showing, uranium values seem to be confined principally along beds of biotite-garnet schist within the quartzite.  Three such beds were located in the main showing area with garnets attaining dimensions of up to 2 inches.

The main showing was channel sampled principally within the adit and assayed 1.14% U₃O₈ and 0.294 oz/ton Au over a strike length of 75 feet and an average width of one foot or 0.775% U₃O₈ and 0.212 oz/ton Au over a strike length of 120 feet and an average width of one foot. 

Other showings within the main showing area are indicated particularly over the 1000 foot strike length to the northeast where outcrop is exposed.

In the south showing area, radioactivity was located over a strike length of 2000 feet over varying widths (up to 11 feet) on an extension of the quartzite band southwestward from the main showing.  Values were found to generally correspond with red mica quartzite in the vicinity of garnet gneiss.  Yellow staining is visible.  Grab samples assayed 0.54% and 0.15% U₃O₈ .                   

Grab samples taken by various parties during 1981 returned the following assays:

In 2008 Globex drilled 6 holes totalling 624 m on the Coconut Club showing as a follow up to InnovExplo’s work in 2007, the drilling intersected up to 1170 ppm La and 2390 ppm Ce over 0.9 m.

Globex also carried out some surface prospecting at the Turner Falls showing in autumn of 2009 and found anomalous rare earth (both heavy and light) grab samples.  Of these, sample 12375 assayed 1550 ppm U, 3105 ppm Th and 41,600 ppm Zr and sample 29469 assayed 12,800 ppm Ce and 6770 ppm La (see Globex press release dated February 1^st, 2010 for full details).

Recently received results from five surface samples at the Coconut Club showing assayed up to 7.10% La and 13.40% Ce, with the total average Light Rare Earths for the five samples being 15.33% (see Globex press release dated March 4^th, 2010 for full details).