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Mohave County
May 2024
Volume 24 Issue 3
COMPLIMENTARY

Apr 2024 | April 2024, Journal | 0 comments

Globex Mining expands its holdings in Mohave County

April 2024, Journal | 0 comments

April 2024

MOHAVE — Globex Mining Enterprises Inc., headquartered in Rouyn-Noranda, Quebec, has officially announced its acquisition of a new gold exploration property in Mohave County, Arizona. This move comes as a significant expansion for Globex, underscoring its strategic efforts to delve into historically rich mining districts within the United States. Named the Salt Spring project, the property spans 24 unpatented lode claims covering a total area of 200.67 hectares (495.84 acres), marking a new chapter in the company’s exploration endeavors.

The Salt Spring project is strategically located in the Gold Basin Mining District, a region with a storied history of gold production dating back to the early 1870s. This district, renowned for its significant gold yields, has been the focus of mining activities through to 1932, with the El Dorado, Excelsior, Golden Rule, and Cyclopic mines being some of the most productive sites during the gold rush era. Globex’s acquisition aims to revitalize exploration in this district, leveraging both the historical data available and modern exploration techniques to uncover new gold deposits.

The initial exploration efforts conducted by Globex on the Salt Spring project have been promising, indicating the presence of numerous gold-bearing quartz veins, small historic mine workings, and several prospects with untapped potential. To date, the company has identified 14 small mine workings and at least 15 prospects within the property, setting the stage for a robust exploration program. Preliminary field observations and assay results have revealed three distinct gold mineralization assemblages across the property: Gold-only (Au), Gold-copper (Au-Cu), and Gold-copper-lead-silver (Au-Cu-Pb-Ag). These findings highlight the diverse mineralization present within the Salt Spring project and suggest a complex geological setting conducive to significant gold deposits.

Among the high-grade assay results that underscore the property’s potential are samples yielding 17.8 g/t Au and 0.13% Cu, 16.2 g/t Au and 0.36% Cu, and 18 g/t Au and 0.09% Cu, among others. These results from vein and stockwork mineralization not only validate the historical significance of the Gold Basin Mining District but also point to the considerable exploration and development potential that the Salt Spring project holds. Globex’s exploration program, which has commenced with geological mapping and rock sampling, is aimed at comprehensively assessing this potential and advancing the project towards development.

Jack Stoch, President and CEO of Globex, expressed enthusiasm about the acquisition, stating, “The acquisition of the Salt Spring project marks a significant milestone in our strategic expansion into the United States. The historic Gold Basin Mining District offers an exciting opportunity for exploration, and the initial results from the Salt Spring project are highly encouraging. We are committed to a thorough exploration program that will unlock the full potential of this property.” Globex’s approach reflects its dedication to exploring historically significant mining districts, leveraging the latest in geological science and exploration technology to discover and develop valuable mineral resources.

Globex Mining Enterprises Inc. is well-positioned to lead the exploration and potential development of the Salt Spring project, with a diverse portfolio of properties across North America focused on precious metals, base metals, specialty metals, and industrial minerals. The company’s strategic focus on regions with historic mining significance and untapped potential underscores its role as a key player in the mining industry, driving forward exploration initiatives that promise to contribute to the sector’s growth and sustainability.


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