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Globex Properties

Fontana - Gold Optioned
Duverny Township, Quebec (NTS 32C/12)

Updated May 2015

Ownership
Globex acquired a 75% interest in the 16 claims of the Fontana Project in 2001.  Globex later acquired a further 6 claims.

On November 15th, 2011 Globex and Tres-Or Resources Ltd. (Tres-Or) announced that a definitive agreement for the acquisition of the Fontana Project. Tres‐Or was granted an option to acquire the interests of Globex, being a 75% interest in 16 claims and a 100% interest in the remaining 6 claims.  Globex retains a 3% Gross Metals Royalty on all claims and the 75% interest in the 16 claims optioned by Globex is also subject to a 15% Net Profits Interest.

In order to exercise the Option, Tres‐Or is required to pay Globex $300,000 and is required to purchase the NPI from Globex for a total of $1,200,000 payable in increments over 84 months.

In September 2014, Globex and Tres-Or agreed to amend the terms of the Option Agreement to extend certain payment obligations.

On April 30, 2015 Tres-Or announced the acquisition from Merrex Gold Inc. of Merrex’s 25% interest in 16 claims for a consideration of $125,000.

Recently Globex acquired 3 additional claims by staking which are not currently part of the Tres-Or agreement.

Location
The Fontana gold property consists of 25 claims comprised of the 22 claims under agreement with Tres-or and 3 additional claims currently owned 100% by Globex, totalling 943 ha in Duverny Township, Quebec.  The claims are approximately 16 km northeast of the town of Amos and can be easily reached by all-weather gravel roads including one road which crosses the property on the Range 5 and 6 boundary line and leads to the Fontana mine shaft.

Fontana and Duvay Properties - Globex

History
The property has been sporadically worked since 1934 when the "C vein" was discovered in the Fontana Fault.

 1934-936

 Prospecting, trenching, exploration pitting.

1937

Twelve (12) prospect pits, 610 m of trenching, sinking a 92 m shaft with 2 levels (53 m and 83 m), 242 m of drifting, erratic gold noted.

1945-1946

Fontana Mines Ltd. incorporated; conducted stripping, bulk sampling on Bunkhouse and Fontana Zones, 8,863 m of drilling on gold zones, geological mapping.

1981-1982

Surface sampling.

1986-1989

Joint Venture agreement between Jilbey Industries and Bay Resources and Services Inc.  
58 km of magnetometer and induced polarization surveys, stripping and a 46 t bulk
sample taken from the Bunkhouse zone, 50 DDH's totalling 7,917 m.

Sept. 1987 -
Feb. 1988

Stripping of Toughie, Fontana, Bunkhouse, Hooper and Lot 14 gold zones with surface sampling.  Percussion drilling on Toughie and Hooper zones.  18,288 m of diamond drilling on various zones, 100 t bulk sample taken on Toughie, Fontana, Lot 14 and Hooper gold zones.  Shaft dewatered and rehabilitated, ramp portal prepared.

Sept. 1988 -
Jan. 1989

9,999 m of diamond drilling on the Bunkhouse and Hooper gold zones.  Two new gold
zones discovered northeast of Lot 14 vein.  Identification of the Discovery Shear zone, intercepted over 580 m strike length by 13 drill holes at Discovery Shear and Lot 14 vein.  Eldorado structure intercepted in 7 drill holes. 

 

Three bulk samples taken:  
       4,000 t from Hooper Zone at intersection of Bunkhouse structure.
       5,000 t from a 122 m by 3 m section of the Bunkhouse Vein
       13,000 t from junction of Bunkhouse and Hooper structures.

Winter 
1989-1990

Small geophysical survey.  Limited petrographic, lithogeochemical and structural studies. 
25 new drill holes and lengthening of 2 old drill holes for a total of 7,502 m.  Spectacular
drill results at junction of Bunkhouse and Hooper veins (DDH JB-200 - 0.48 opt over 47 ft, followed by wedge hole below returning 0.508 opt over 125 ft).

May 1990 -
Nov. 1990

Ten (10) drill holes totalling 2,549 m testing extensions of JB-200 and JB-200B (wedge)

On June 19th, 2012 Tres-Or announced the signing of an Amended and Restated Option Agreement which incorporated an option over the Fontana Gold Project into an existing agreement for the Duvay Gold Project with Aurizon Mines Ltd. (Aurizon).  Aurizon completed channel sampling programs on the historical mineralized trenches of the Fontana deposit.  The channel sampling program was designed to evaluate the low grade potential of the wall rock surrounding the main mineralized vein systems and the surrounding altered granodiorite host rocks.

In January, 2013 Tres-Or Resources Ltd. reported a winter drilling program had begun at the Fontana Gold Project by Aurizon.  This first program was to include includes 14 drill holes designed as a series of 1.0 km long drilling fences to drill test intersecting mineralized structures following two perpendicular orientations.  The first seven holes were to re-test historical drill holes with high grade gold intersections on known structures.  An additional seven drill holes were planned where historical high grade gold values are known outside the main mineralized structures.  Globex has no information regarding the completion of the program or results obtained.

According to the Tres-Or press release, more than 10,000 mineralized intervals from historical drill holes have been compiled and integrated into a proprietary database.  This information combined with the detailed airborne magnetic and electromagnetic data flown in January 2012 and integrated with a ground magnetic survey at Fontana, provides an important tool for understanding of the geometry and potential projection of the mineralized systems.

Geology
The geology of the property is relatively well known due to abundant outcrop and considerable drilling. The centre of the property is occupied by the western extremity of a granodiorite stock.  The border of the stock is finer grained than the centre.  Volcanic rock enclaves are found within the intrusive.  Much of the rest of the property is underlain by pillowed, intermediate to basic volcanics, while dacite inter-fingers at the extreme south and northwest.  The volcanics are part of the north limb of the Duverny syncline and are oriented roughly east-west.  The intrusive and enclosing volcanic rock units are often affected by carbonate and chlorite alteration.  

Structure
The most important structure on the property is the Fontana Fault.  This polyphase structure varies in width from 3 m to 34 m feet and is oriented at 125o with a dip that varies from subvertical to 70o to the southwest.  It has been drilled over a strike length of approximately 1,200 m, principally where the fault crosses the granodiorite.  The fault zone actually consists of two separate and parallel faults which converge locally.

Other faults with similar orientations and geological contexts occur on the property including from south to north; the Lot 14, Eldorado, Discovery, DD, Hooper and Balatech faults.  A second group of structures oriented at 020o called the Bunkhouse, Laddie and Toughie zones also exist on the property.  The most important of these, the Bunkhouse zone, has been drilled along a strike length of 730 m and to a depth of 425 m.  The Bunkhouse fault varies between 1 m and 6 m in thickness and dips 75o to 80o degrees to the west.  It intersects the Fontana, Hooper, Discovery and Lot 14 fault zones.  Veinlets of quartz occur within 33 m of the structures but rapidly diminish beyond.  Most veins are oriented north-south and dip westward while some horizontal veins have also been observed.

The faults often contain sericite and/or chlorite alteration and fuchsite alteration is also present locally.  Veins and lenses of en-echelon quartz are present in the faults and gold mineralization is associated with these quartz veins.

A quartz-epidote porphyry dyke is present in Zone 27, which is the richest section identified to date in the Fontana structure.  A similar dyke is seen at various locations in the Bunkhouse structure.

Mineralization
Gold mineralization is associated with pyrite- and chalcopyrite-rich quartz veins in the principal fault structures and associated fractures at Fontana.  The gold is most often free gold and is erratic in distribution.  According to a report dated May 8, 1990 by Jean Descarreaux, spectacular assays of up to 16.45 gpt over 14.30 m with a wedge undercut 17.42 gpt Au over 38.10 m are recorded at the intersection of important vein structures but many assays, although high grade, are over narrow widths (0.3 m to 1.8 m).  Hole JB216 returned 0.35 opt Au over 4 ft, JB214 - 0.56 opt Au over 1.5 ft and 0.48 opt Au over 5.4 ft.  Bay Resources and Services Inc. who held a 75% interest the property in 1989 reported resources of up to 968,000 t grading 0.169 opt Au (5.83 gpt Au) (ref.: 1988-89 Canadian Mines Handbook). This resource predates the application of National Instrument (NI) 43-101 Standards of Disclosure for Mineral Projects and are therefore considered historical resources and should not be relied  upon. 

 

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Press releases related to this property

November 15, 2011
Globex Signs Definitive Agreement to Option its Fontana Gold Project in Quebec to Tres-Or Resources
(English) | (Deutsch) | (Français) |

July 5, 2011
Globex: Tres‐Or Announces Intent to Acquire the Fontana Gold Project, Quebec
(English) | (Français) | (Deutsch) |


Partner News related to this property

March 16, 2017
Drilling begins on Fontana Gold project.
(English)

April 30, 2015
Tres-Or Acquires Outstanding Interest in Fontana Gold Project in Quebec
(English)

January 13, 2013
Drill Program Commences at the Fontana Gold Project, Quebec
(English)

January 2, 2012
Tres-Or Resources Ltd. - Advanced Gold Projects - Duvay and Fontana Projects
(English) | (Français) |

 
 
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