Globex Mining Enterprises Inc. is pleased to announce the successful completion of two separate drill programs by Scandium Canada Ltd. at their Crater Lake Scandium Project. Located 200 km ENE of Schefferville, Quebec, the project has shown promising results.
The first objective of the drilling campaign was to determine the optimal angles of the slopes for a proposed open pit design. A total of 6 geo-mechanical holes, spanning 1,669 m, were drilled for this purpose. The second objective was to confirm the potential extension of the TG Zone for an additional 250 meters. This involved drilling 7 holes, covering a distance of 1,185 m. Scandium Canada Ltd. reported that mineralization was present in all the holes, indicating the project’s potential.
Globex Mining Enterprises Inc. is delighted to see Scandium Canada Ltd. making progress with this logistically remote project. The Crater Lake Scandium Project is situated within a circular magnetic structure, with the northern half owned by Scandium Canada Ltd. and the southern half by Globex. The presence of numerous occurrences of scandium and rare earths on Globex’s property further enhances its value and potential.
To better define the ore-bearing structure on its property, Globex conducted a Terraquest Fixed-Wing, High Resolution Horizontal Aeromagnetic Gradient and Matrix-Plus VLF-EM Survey. As Scandium Canada Ltd. advances their project, the intrinsic value of Globex’s property is expected to increase. Globex now faces the decision of whether to advance the property independently or seek a qualified partner.
Jack Stoch, President & CEO of Globex, expressed his satisfaction with the progress made by Scandium Canada Ltd. He stated, ‘We are pleased to see the successful completion of the drill programs at the Crater Lake Scandium Project. The presence of mineralization in all the holes is a positive sign, and we believe that this project holds significant potential. As our neighbor progresses, we are excited about the enhanced value and prospects of our own property.’
For more information, please contact Jack Stoch, President & CEO of Globex Mining Enterprises Inc., at 819.797.5242 or via email at info@globexmining.com.