Globex Unveils Promising First Four Infill Ironwood Drill Holes

Globex Mining Enterprises Inc. (GMX) has announced the assay results from the first four infill drill holes on its 100% owned Ironwood gold deposit, located in Cadillac Township, Quebec. The results showcase consistent gold presence, with grades ranging from 3.14 to 21.78 g/t Au, providing valuable insights into the deposit's shape, extent, and economic potential.

The current drill program, consisting of at least 17 holes, aims to upgrade the deposit's resource estimate and inform mining decisions. The initial four infill drill holes have intersected the Ironwood Gold Zone in every hole, indicating potential for increased resource confidence. These holes have helped refine the deposit's geometry and grade, allowing for consideration of various mining methods once the accurate grade and overall shape of the body are determined.

Globex's Ironwood gold deposit presents as a narrow, high-grade zone, with grades up to 21.78 g/t Au over true widths of up to 15.1 meters. This suggests that selective mining methods, such as cut-and-fill or longhole mining, could be most suitable for efficient extraction of the orebody while minimizing waste. These methods allow for the extraction of narrow, high-grade orebodies and have been successfully employed in similar underground mining operations.

The high-grade gold intersections in the first four holes, with grades ranging from 11.08 to 21.78 g/t Au, suggest that the Ironwood deposit may contain richer gold zones than previously thought. This could potentially increase the resource potential of the deposit, given that these intersections were found at various depths and widths. However, further drilling is needed to confirm the extent and continuity of these zones.

The success of the initial four infill drill holes at the Ironwood project indicates high-grade gold mineralization, with grades up to 21.78 g/t Au. This positive result could accelerate the exploration timeline and potentially reduce the budget by identifying high-priority areas for further drilling. As Globex has intersected the Ironwood Gold Zone in every hole so far, the company may consider optimizing the drill plan to focus on these high-grade zones, thus reducing the number of required holes and lowering costs.

In conclusion, the first four infill drill holes at Globex's Ironwood gold deposit have provided valuable insights into the deposit's shape, extent, and economic potential. The consistent intersection of the Ironwood Gold Zone in every hole suggests potential for increased resource confidence and the consideration of various mining methods. The high-grade gold intersections found in these holes indicate the potential for richer gold zones than previously thought, and further drilling is needed to confirm the extent and continuity of these zones.