History

Exploration in this extensively overburden covered property dates back to the late 1960’s when Anaconda outlined a zone of precious metal bearing volcanogenic disseminated and stringer sulphide mineralization referred to as the Anaconda zone as a result of follow up drilling of airborne/ground geophysical anomalies.  Assessment records for core assays are incomplete.  The best single base metal assay of massive sulphides reported, graded 4.03% Cu, 9.13% Zn, 585.7 gpt Ag and 26.4 gpt  Au/ 0.3.m (hole 615), along with other gold/silver sulphide intercepts of 1.4 gpt Au, 86 gpt Ag/ 3 m and 1.4 gpt Au, 10 gpt Ag/ 1.5 m and elsewhere, near the east shore of St. Vincent Lake  where a historic sulphide gold intercept of 27.0 gpt Au/ 0.62 m (hole 614) is reported in the same area where a boulder of black chlorite with chalcopyrite stringers is also reported to have been found.  Lynx-Canada Explorations Ltd conducted systematic exploration work on the property in the early 1980’s.  Blanket ground magnetometer/VLF surveys at 120 metre line spacing, extended 15 km from Lake Des Pins in the West, to Lake Tavernier in the East.  Follow up humus and basal till sampling was done over selected magnetic/VLF anomalies and subsequently investigated with IP and HEM geophysical coverage over the highest priority anomalies for drill target selection.  The drilling which followed led to the discovery of the precious metal bearing Lynx volcanogenic stringer sulphide zone (2.6 gpt Au, 48.4 gpt Ag, 0.7% Zn/7.3 m; 1.0 gpt Au, 14.2 gpt Ag, 0.2% Zn/ 2.9 m; 1.3 gpt Au, 75.8 gpt Ag/4.9 m; 2.1 gpt Au,1.2% Zn/0.95 m; 1.4 gpt Au, 48.8 gpt Ag/3.3 m and 7.2 gpt Au, 70.6 gpt Ag, 1.3% Zn/ 0.4 m ) located 1.5 km east-north east of the Anaconda zone, on a separate time horizon.

Further exploration work by a number of junior companies during the mid and late 1980’s including Resource Onyx, Exploration Omega and Exploration Oz failed to encounter any significant base or precious metal mineralization in their drilling. 

In 1990, Teck Exploration Ltd drilled eight holes totaling approximately 1,200 metres, testing primarily the area in the vicinity of the Lynx stringer Zone and the Anaconda sulphide Zone.  Drilling was guided by the location of historic drilling and geophysical results from Teck’s surface and down hole EM surveys. This work led to the discovery of the “Central Zone”, a small stringer zone of Py/Po & Sp located  between the Anaconda and Lynx Zones, all of which together define a general east to south-east trending area approximately 1.5 km in length which encompass several, likely distinct or possibly structurally related, volcanic hosted  sulphide mineralized zones.

In 2001, Géola Ltée carried out limited IP and ground magnetometer survey work several kilometers west of the Anaconda zone. One of the IP anomalies was drilled tested with a single hole and found to be caused by several zones of disseminated barren Po/Py mineralization in dacitic volcanics.

Western, Gold Portion of the Property

This portion of the property is underlain by the large syntectonic Pascalis –Tiblemont granodiorite Batholith which hosts numerous quartz lode gold showings where historic exploration has focused. In the late 1980’s junior company Maufort Resources Inc completed a considerable amount of shallow exploring drilling (in efforts to outline preliminary gold resource estimates) at five principal locations (Main Zone, Zones 14, 15, 16, & 19) dispersed along a 2.5 km long NNE trending corridor within the intrusion east of Fish Lake as well as in another structure 2 km east of the former referred to as the Pine Lake occurrence. A total of 76 holes are reported and non 43-101 compliant historic resources of 87,000 t grading 5.8 gpt Au (Main Zone) and respectively 6,670 t at 16.8 gpt Au and 1,260 t at 33.7 gpt Au for the Pine Lake zones, are reported.  Of the 45 drill holes within the Main Zone which was drilled to a vertical depth of 125 metres, 23 of the holes contained visible gold. The  better gold  intercepts from this zone returned: 15.8 gpt Au/ 3.0 m, 5.9 gpt Au/ 7.5 m, 3.8 gpt Au/ 5.9 m, 5.3 gpt Au/ 9.5 m and 3.5 gpt Au/ 7.5 .

Geological Setting and Mineralization

The reader is referred to the 2011 Annual Information Form for further details regarding the regional and local geologic settings of the project area as well as more detailed descriptions of the mineralization reported from the historic work.

Exploration

The majority of the claims in Tavernier Township were acquired by staking by Globex in 2005 and the land position was expanded during 2010, 2011 and 2012 into Tiblemont Township to constitute the holdings as previously described.  In 2005, Globex commissioned a 311 ln-km helicopter-borne magnetic /electromagnetic survey at 100 metre line spacing, over the Tavernier portion of the property.  

During the period 2009 to 2011, this was followed up with prospecting/mapping and systematic IP coverage totaling 191 ln-km which included both frequency domain survey work (east end of claims) and continued with wide array time domain IP in the central portion of the property.  Selective ground magnetic and horizontal loop EM survey work in areas of known mineralization was also included to compliment the large ground survey database.

In 2012, an overall compilation and interpretation of the historic geological and geophysical data was completed by Globex.  In October, a total of 551 ln-km of close spaced, high-resolution aeromagnetics/ VLF surveying (in two blocks with different flight directions) were completed by contracted Terraquest Ltd over the central and western portions of the property to compliment the airborne coverage from Globex’s 2005 eastern airborne survey.  These data have assisted in the selection and prioritization of an initial eight drill targets, which were inspected in the field for outcrop exposure.  Although the complete drill selection process is not complete, the aforementioned sites were permitted prior to year-end 2012, for eventual drilling.  Detailed mapping and sampling of a number of the gold zones (Maufort Zones, Pine Lake, Realore Zones and others) were carried out by Globex during the summer, confirming the gold mineralization where the best of 27 grab samples returned respectively 13.5 gpt Au; 4.9 gpt Au, 0.14% Cu (Realore showing) and 13.3 gpt Au; 36.4 gpt Au, 14 gpt Ag (Pine Lake) while gathering firsthand information on the style of vein systems associated with these historic showings.  A small, but important residual portion of in-fill geophysical ground coverage was identified for completion during the winter of 2013. 

Exploration and Development

In the first Quarter of 2013, the residual in-fill ground geophysics (magnetic & electromagnetic surveys) over Lake St. Vincent were completed and the interpretation/final imaging of Terraquest’s airborne magnetic and VLF information (completed by senior consulting geophysicist) were presented to Globex thus permitting the finalization of Globex’s drill target selection.

Gold:  The quality of the 2012 airborne data has been found to significantly enhance the structural interpretation particularly in the context of the new gold targets being developed within the intrusion complex in the western portion of the Property. This new, detailed airborne magnetic/VLF information has identified new areas for follow up prospecting and geological mapping and anticipated drilling in 2013.

Base and Precious metals VMS:  In the central and western portion of the Property, the potential for encountering new mineralized zones in the vicinity of known precious metal rich volcanogenic sulphide occurrences as exemplified by the Anaconda Zone (4.0% Cu, 9.1% Zn, 585.6 gpt Ag and 26.4 gpt Au/0.62.m) and 3.5 km further west, the St. Vincent Lake volcanic hosted Py/Po mineralization (27.1 gpt Au/0.60 m), is regarded as unequivocally attractive.  Previously undrilled ground conductors identified from Globex’s airborne and ground geophysical surveys are scheduled to be drill tested when ground access conditions permit.