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Lyndhurst Mine - Partial JV on Mining Concession - Polymetallic Property Description and Location The Lyndhurst property consists of 107 claims and one mining concession (443) totaling 2,674 hectares and is located 35 km north of Rouyn-Noranda, Quebec immediately east of Highway 101 which connects Rouyn-Noranda with La Sarre (Figure 5). These claims are wholly owned by Globex and are not subject to any underlying royalties or third party interest except for a portion of the Lyndhurst mining concession which is jointed ventured with local entrepreneur Agregat R-N Inc. The property saw limited mineral production in the mid 1950`s when 148,000 t of massive and stringer sulphides grading 1.93% Cu, were extracted from underground workings to a maximum depth of 205 metres. Waste rock and mineralized material surround the former mine site where the head frame and mine buildings have been removed, the area secured and is being reclaimed.
Access, Climate, Local Resources, Infrastructure and Physiography The Lyndhurst property is accessible via Highway 101 which connects with the mining town of Rouyn-Noranda, 45 km south of the property. Access directly onto the property is possible via two respectively east and southeast trending secondary dirt roads originating from Highway 101 in Range IX, Destor Twp. The area is characterized by low relief with slow running streams and small lakes and ponds. The ground cover consists of a mixture of muskeg swamp with peripheral zones of tag alders and elsewhere, large patches of second/third generation trees including poplar, birch, balsam fir and black spruce. The average annual precipitation is about 900 mm of which two thirds falls as snow and one third as rain. This general area has a long history of mining and resource extraction and consequently enjoys a good source of power, water and mining personnel.
History The Lyndhurst property hosts have been explored intermittently by various exploration companies since the late 1920’s. In 1955, Lyndhurst Mining Co. Ltd. sank a 215 metre shaft, carried out some development on five levels and proceeded with limited mineral production after completing an underground exploration diamond drill program which indicated a non NI 43-101 compliant historic resource of 347,000 t grading 1.95% Cu from two sulphide lenses. It is reported that 148,000 t of material grading 1.93% Cu was extracted between 1956 and 1957 following which surface exploration including trenching and mostly shallow drilling was carried out by various companies until 1988. Exploration efforts by major companies included Minnova in 1988 which completed an airborne EM (INPUT) survey and follow up work including DEEP-EM ground electromagnetic surveys, geological and lithogeochemical sampling, stripping and some diamond drilling. From 1991 to 1993, Noranda Exploration carried out geological mapping, outcrop stripping, induced polarization and horizontal-loop electromagnetic surveys, and diamond drilling without encountering any significant new VMS mineralization. Geological Setting The reader is referred to Globex`s 2011 Annual Information Form document for full details on the regional and local geology of the Lyndhurst Property Exploration The property remained dormant for several years and was subsequently optioned by Vancouver junior Amblin Resources Inc. in 1997 who completed, under the operatorship of Globex, an airborne magnetic/electromagnetic survey and follow up ground gravity surveying. This ground geophysics outlined three gravity anomalies located within highly altered felsic volcanics 1,500 metres west and along strike of the original Lyndhurst copper deposit as well as 500 metres north of the Lyndhurst deposit. The gravity anomaly west of the Lyndhurst deposit was drilled at a shallow depth in 1998 and complimentary borehole geophysics identified further anomalies warranting more drilling. Six additional drill holes lead to the discovery of the deep seated (1,150 metres from surface) volcanogenic massive sulphide Moses Zone in 1998 which intersected interesting but generally narrow Cu/Zn/Ag mineralization including 3.6% Cu, 58.3 gpt Ag/ 1.2 m, 3.7% Zn/ 1.9 m and 5.7% Zn/3.6 m (discovery hole LY-98-05); 3.6% Cu, 2.9% Zn, 159.3 gpt Ag/ 2.6.m(hole LY-98-05A, a 110m undercut to hole LY-98-05) and two other deeper massive sulphide intercepts grading respectively 3.9% Cu, 34.9 gpt Ag/6.4 m and 2.6% Zn, 13.7 gpt Ag/ 8.4.m(hole LY-98-06, a 90 metre undercut to hole LY-98-05A) suggesting improvement in thickness of the sulphide lenses with depth. In 2000, Globex limited additional drilling in the Moses Zone area where hole L00-8B a 100 metre east step out from LY98-05 intersected 2 narrow zones of massive sulphides including 6.8% Zn,33.0 gpt Ag/ 0.5 m and 5.2% Zn,35.6 gpt Ag/2.9 m. Limited additional, mostly shallow drilling in 2001 and 2004 by Globex in the Moses Zone and No.1 (250 metres east of the original Lyndhurst deposit), intersected mostly narrow Cu/Zn/Ag/Au values with the better widths in the No.1 Zone including 1.36% Cu, 26.5 g/t Ag/ 7.38 m at a vertical depth of 35 metres in a brecciated high silica sulphide stringer flood zone hosted in rhyolite within a larger envelope of mineralization grading 0.825% Cu, 16.42 gpt Ag/ 17.2 m. In 2007, twenty-one shallow holes totaling 2,000 metres were drilled and assayed to assess the merits of a potential small open pit operation of the #1 Copper-Silica Zone (located 250 metres east of the main Lyndhurst deposit) in joint venture partnership with Agregat R-N Inc. Results did not prove sufficiently encouraging to move forward on this concept. From 2008 to 2010, further deep penetrating geophysical orientation tests were undertaken including IP, magnetotellurics, an airborne gravity survey in the vicinity of the Lyndhurst deposit, the #1 Copper –Silica Zone and Moses Zone, all of which culminated with an eight (8) hole relatively shallow drill program of 2,942 metres without encountering any significant new VMS mineralization. In 2011, a 56.5 ln-km dipole-dipole IP survey at 100 metre line separating was completed over the western half of the property covering a strike length of approximately 4.5 km extending westward immediately along strike from the known Lyndhurst/Moses Zone VMS occurrences. This survey work was successful in tracing several known mineralized trends including the historic Beattie zinc stringer zone where selective historic grab samples assayed best values of 31.6% Zn, 3.0% Pb, 200 gpt Ag; 8.8% Zn, 33 gpt Ag and 6.6% Zn, 31 gpt Ag. The wide array IP in this area suggested geophysical continuation to depth (>200m) of the disseminated and stringers sulphides found at surface at both the main Beattie Zinc showing and Beattie North zinc stinger zone, thus identifying a priority drill target. In 2012, from November 26 to December 9, a single deep, 997 metre long drill hole (Lyn-12-01) was completed to test for the presence of volcanogenic massive sulphides down dip from the surface rhyolite hosted disseminated and stringer sphalerite zones referred to as the Beattie Zinc Showing and Beattie North Stringers at vertical depths of respectively 325 metres and 650 metres from surface. No significant zones of copper/zinc bearing massive sulphides were encountered although intermittent and wide (75-100 metre core length) haloes of weak chalcopyrite or sphalerite, pyrite-quartz stringers, with local intense black chlorite alteration were intersected at both anticipated down dip projections of the surface sulphide occurrences within the thick sequence of hydrothermally altered quartz phyric rhyolite flows and pyroclastic units. A subsequent borehole survey in Lyn-12-01, while responding to the multiple narrow Cpy stringers, confirmed the absence of any significantly sized conductive massive sulphide lens within an estimated 100 metre of the drill hole. Exploration and Development The deepest exploration drilling to date on the property including the western Beattie Zinc sector (tested in 2012) and the central Moses Zones (tested from 1998 to 2004) and as supported by results of the deeper penetrating geophysical tests, indicate the remaining exploration potential for blind VMS deposits within the hydrothermally and extensively strongly altered Lyndhurst felsic volcanic complex lies at depth below approximately 800 metres. In the light of these findings, ongoing compilation/interpretation in 2013 of the historic and more recent exploration data will look to determine whether the yet untested gravity/magnetic anomaly 500 metres northeast of the Lyndhurst deposit as well as the geophysically inferred depth extensions of the Lyndhurst deposit itself, constitute viable exploration drill targets to locate yet undiscovered large, deep seated high grade VMS Cu/Zn/Ag/Au deposits in this attractive volcanogenic setting.
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