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Globex Properties

Devils Pike Property - Gold
Queen & King County, New Brunswick (NTS 21H/12)

Updated August 2016

NI 43-101 Technical Report on the Golden Pike Project, New Brunswich, Canada

On January 7, 2016 Globex acquired 100% interest the Golden Pike Property (hereafter called the Devil’s Pike Gold Property, from Rockport Mining Corp., (“Rockport”) a wholly owned subsidiary of Tri-Star Resources Inc. plc.  The property is located in the Parish of Springfield, Kings County and Wickham Parish, Queens County, south central New Brunswick. 

Under the agreement Globex paid Tri-Star 350,000 shares of Globex and a one percent (1%) Net Smelter Royalty (NSR) after the property has produced 600,000 ounces of gold.  There is also a two percent (2%) underlying royalty to a third party.  All the royalties may be purchased for CDN$ 500,000 per half percent (0.5%).

The property is the subject of a technical report dated August 19, 2011 by Roscoe Postle Associates Inc. (RPA) on behalf of Portage Minerals Inc. (Portage).  This report was prepared to support disclosure of an initial Mineral Resource Estimate for the Golden Pike deposit.  The report describes exploration work completed on the property to the effective date of the report.  Information below as related to the property is summarized from the RPA report.

Project Description and Location
The Devil’s Pike property is consolidated under claim group 7616, 7698 and 7700 which consists of 138 claim units totalling 2,208 hectares. 

Devil's Pike Claim Map

Devil Pike Property Claim Map

Devil’s Pike Property Claim location map 


The Devil’s Pike property is located about 72 km by road from the port city of Saint John, (population 70,000).  Access from Saint John is by road for approximately 53 km north-easterly along Provincial Highway No. 1, then northerly on Highway 124 for a distance of about 18 km to the village of Hatfield Point.  The property is located about one kilometre northwest of Hatfield Point and is bisected by Route 710.  Secondary logging roads and footpaths provide access to various portions of the property.  A 12.5 kV power line crosses the southernmost portion of the property.

Historic Exploration
The follow exploration history has been abridged from the 2011 RPA technical report.  The complete RPA report is filed on the SEDAR website under Portage Minerals Inc. on September 8th 2011.

The Devil’s Pike area was sporadically explored in the late 1920s and again in the late 1950s to 1970s, primarily for base metals.  Work was concentrated mainly in the area of the Shannon copper prospect, located to the west of the Golden Pike property.

Work on the property began with PGE Resources Corporation (“PGE”) in 1989 consisted of stream sediment sampling (14 samples), “B” horizon soil sampling in two areas (229 samples) and prospecting, including seven rock chip samples to follow up anomalous results from a GSC stream sediment geochemical survey (Friske and Hornibrook, 1988).  The results of PGE’s soil sampling identified areas for follow-up in the northern and northwestern portions of the claim block.

In 1990, Noranda optioned the property from PGE and took 23 Pionjar basal till samples to follow up anomalous “B” horizon soil results.  Results of this sampling yielded anomalous Cu-Zn-As-Sb, but no gold in the northwestern portion of the property.  Two Winkie (portable drill) holes totalling 85.3 m were drilled in a scissor-like configuration to test the anomaly.  Hole DP-90-1 intersected chalcopyrite-bearing stringers hosted by mafic tuffs and minor graphitic sediments which assayed 1.77% Cu across 2.1 m from 21.5 m to 23.6 m.  Hole DR-90-2 intersected similar lithologies but did not intersect any mineralization.  Prospecting along Devil Pike Brook identified widespread carbonate alteration in outcrops.  Noranda also completed an extensive program in the area of the Devil’s Pike property consisting of “B”-horizon soil sampling (1,176 samples), ground magnetics and very low frequency electromagnetic (VLF-EM) surveying (28.9 km), 1:5,000 geological mapping, prospecting, trenching (13 trenches for 841 m) and diamond drilling of four holes totalling 367.2 m.  Two narrow gold showings with significant but sporadic values were identified.

In 1992, PGE discovered quartz float that assayed up to 55 gpt Au, which led to systematic exploration up ice to locate the source of the float.  9.8 line km of “B” horizon soil sampling (369 samples) and ground geophysical surveys (magnetic, VLF-EM) were completed.  Hand trenching of a soil anomaly exposed visible gold-bearing quartz veining over about 3 m.  The Discovery Trench is located approximately 350 m north-northeast of the original gold-bearing float discovery.  Grab samples from the Discovery Trench assayed up to 6 oz/ton Au.  PGE also completed a further 10.1 line km of ground magnetic and VLF-EM surveys to evaluate the area there Noranda had intersected the copper-bearing stringers in Winkie hole DP-90-1.

Following an examination of the Discovery Trench in November 1992, Noranda entered into a new agreement with PGE whereby it would have an exclusive 45 day period to evaluate the property.  During January and February 1993, Noranda excavated 14 trenches for a total of 2,045 m and took 128 rock samples.  Noranda also took 42 panned concentrates of till and some “B” horizon soil samples in trenched areas to test for gold grains in the soils.  This work led to the discovery of gold-bearing quartz veining in the area of the original mineralized float discovery, 350 m south-southwest of the Discovery Trench.  The property was subsequently returned to PGE.

In 1994, Fosters Resources Ltd. (“Fosters”) optioned the property from PGE and drilled 16 holes for a total of 1,052 m.  Fifteen holes were drilled at close spacing, ten on the original mineralized float discovery area (renamed as the Boyd vein) and five in the area of the Discovery Trench (renamed as the Baxter vein).  An additional hole was drilled in between to test for continuity of the system. 

In 1995, Fosters drilled an additional 20 holes for a total of 1,327 m on the “Boyd” vein over a strike length of about 120 m and to a vertical depth of 80 m.  The drill program was intended to test the “Boyd” vein along strike.  Five drill locations were set at 10 m intervals along strike with two drill holes each, intersecting the vein at 30 and 50 m depth respectively.  Other drill holes tested the vein at greater depth and to the North.

PGE prospected and surveyed with ground magnetics and VLF-EM.  Three trenches were excavated in the vicinity of hole FR-94-16, which was thought to have collared in mineralization.  One of these trenches uncovered quartz veining that returned values greater than 52 gpt Au.  This zone, referred to as the “16 Zone” by Fosters, was exposed by trenching over a strike length of 70 m and across widths of up to 2.5 m.  Fosters also completed 3.6 km of induced polarization (IP)/resistivity surveying in the area of the “Baxter” vein.  Four resistivity anomalies, thought to be related to possible quartz veining, and five chargeability anomalies were detected.

In 1996, Fosters drilled an additional 20 holes intended to extend the strike length and depth of the quartz vein system and deepened three holes on the “Boyd” vein, for a total of 2,010 m. The holes were collared 25 m to 50 m apart.  In total, Fosters drilled 56 holes and three extensions for 4,586 m.  This drilling intersected the vein system over a strike length of 450 m and to a depth of 160 m.  Based on the results of its drilling, Fosters is reported to have estimated a resource in 1996 of 25,000 tonnes grading 0.5 oz/ton Au.  RPA considered the resource to be relevant as an indication of the potential to host economic mineralization.  However, the historical estimate was not verified and RPA did not treat these estimates as current and indicate it should not be relied upon.

Fosters’ successor company, Blue Mountain, subsequently allowed the claims to lapse. 

In 2005, Carter and Southfield staked 77 contiguous claims, including those dropped by Blue Mountain.

Rockport Mining Corporation (“Rockport”) optioned the property in 2007 and initiated a comprehensive exploration program consisting of line cutting, soil sampling, trenching, and airborne and ground geophysical surveying on the Devil’s Pike property.  In 2007 and 2008, 3,130 B-horizon soil samples were collected by soil auger and assayed for gold and analyzed using multi element ICP packages and excavated eight trenches for a total of about 227 m in the immediate area of the Devil’s Pike deposit and collected 35 channel and chip samples.

In 2008, Rockport contracted Fugro Airborne Surveys Corp. (Fugro) of Mississauga, Ontario, to carry out a combined helicopter-borne magnetic and electromagnetic survey over much of their holdings in southern New Brunswick, including the GoldenDevil’s Pike property.  Several conductors identified in the survey area are reported to be typical of graphitic or massive sulphide responses. The survey was also successful in locating many moderately weak or broad conductors.  Others exhibit linear trends or coincide with magnetic gradients that may reflect contacts, faults or shears.  Magnetic responses suggest that the survey area hosts several plug-like intrusions and has been subjected to deformation and/or alteration.  The resistivity patterns show moderately good agreement with the magnetic trends, which suggests that many of the resistivity lows are probably related to bedrock features.  Rockport also completed ground magnetic and induced polarization surveys.

From December 2007 to September 2008, Rockport completed an 11,570.80 m NQ drilling program designed to test the Parallel and Main zones.

Geological Setting and Mineralization
The Golden Pike deposit is located near the boundary of the Cambro-Ordovician Annidale Group and the Silurian Mascarene Group, which are locally separated by the northeast-trending Taylor Brook Fault Zone.  The Annidale Group, which occurs north the Taylor Brook Fault Zone, is a sequence of interbedded mafic to felsic volcanic rocks with clastic sedimentary and volcanogenic sedimentary assemblages

The Devil’s Pike deposit is located in the Mascarene Group rocks.  It is located less than 500 m south of the interpreted trend of the northeast-trending Taylor Brook Fault.

The Mascarene Group, which occurs south of the Taylor Brook Fault Zone, is possibly the easternmost extension of bimodal rocks (basaltic-rhyolitic) of the Coastal Volcanic Belt (CVB), which extends from southern Maine into southern New Brunswick.  The Mascarene Group is the southernmost of several Silurian-Devonian volcanic belts that occur in northeastern North America.    From base to top, the Mascarene Group comprises the Henderson Brook, the Grant Brook, the Long Reach and the Jones Creek Formations.

Gold mineralization on the Devil’s Pike property is hosted by mafic volcanic rocks of the Grant Brook Formation. 

Technical Rpt on gold Golden Pike 2011 from RPA 2011
From RPA 2011 - Technical Report on the Golden Pike Project, 2011

RPA cites reports from Watters (1995), Davis (1998), Lafontaine (2005), and Lafontaine et al. (2005) with the following:

The mineralizing system trends northerly, dips steeply to the west, and has a true width varying from one metre to five metres.  Wider mineralized intervals may be a result of en echelon veining or splaying of veins. The veining is structurally controlled along a brittle fracture and is oblique to the regional northeast structural trend.  The veining consists mainly of quartz and carbonate with or without sulphides.  Many of the veins appear to be composite, consisting of more than one generation of quartz and/or carbonate. 

Cross Section Golden Pkke Project

Quartz and calcite are the main gangue mineral phases of the vein system, although ankerite may be present in minor amounts.  Both quartz and calcite are generally fine to very fine grained and subhedral to anhedral in form.  Sulphides and gold mineralization are mostly quartz hosted but some mineralized zones are located at the quartz-calcite interface.  Laminated or ribbon texture is common, notably along the outer few centimetres of wider massive veins.  Carbonate veins, up to several metres in thickness, generally consisting of coarse white or grey mottled calcite or finer grained (mylonitized) banded grey and white calcite layers, may flank or be located marginal to quartz veins.  The sulphide content of carbonate veins rarely exceeds 2%.  At least one minor phase of quartz veining postdates the mineralized veins.  Locally, narrow carbonate veinlets crosscut both quartz and sulphides of the mineralized veins. 

Gold-rich sections of the veining correlate with higher sulphide content.  Electrum is the only significant gold-bearing mineral, with silver content ranging from 3% to 8%.  The gold is found as grains in quartz, in fractures, in sulphides and peripheral to sulphides.  Pyrite is the most common sulphide, but chalcopyrite, minor tetrahedrite/tennantite and lesser sphalerite and galena have been observed.  Arsenopyrite is generally absent from the assemblage or present in only trace amounts.  Sulphides in the quartz veining generally occur as fine-grained disseminations of on the order of 1% to 2%, but sulphide-rich sections may contain up to 15% sulphides.

Resource Estimate  Resource Estimate
In 2011, Portage published RPA’s Mineral Resource Estimate for the Devil’s Pike deposit.  (NI 43-101 Technical Report on the Golden Pike Project, New Brunswick, Canada for Portage Minerals Inc. by Paul Chamois, M.Sc. (Applied) P.Geo., Tudorel Ciuculescu, M.Sc., P.Geo. and David A. Ross, M.Sc., P.Geo., Roscoe Postle Associates Inc., August 19, 2011).  The resource uses drill information available up to May 26, 2011.

RPA used drill hole data available to May 26, 2011.  At a cut-off grade of 5 g/t Au and minimum true thickness of two metres, Inferred Mineral Resources are estimated to total 214,800 tonnes grading 9.60 gpt Au containing 66,300 ounces of gold.  Previous operators (Fosters) identified three mineralized zones over a strike length of approximately 450 m referred to, from south to north, as the Boyd Zone, the 16 Zone, and the Baxter Zone.  Later work by Portage recognizes two zones referred to as the Parallel and Main zones.  The Parallel zone combines Fosters’ 16 Zone and Baxter Zone, while the Main Zone corresponds to the Boyd Zone.  The two zones were then interpreted to be the folded extensions of the same mineral zone.  RPA used Portage’s interpretation for its resource estimate.

RPA Mineral Resource Estimate - May 26, 2011
Portage Minerals Inc. – Golden Pike Project

 Classification

Zone

Tonnes ('000)

Capped

Au (gpt)

Au

Oz ('000)

Uncapped

Au (gpt)

Au

Oz ('000)

Inferred

 Main Zone

78.2

11.47

28.8

17.10

43.0

Inferred

 Parallel Zone

136.6

8.54

37.5

11.41

50.1

Inferred

 Total

214.8

9.60

66.3

13.48

93.1

Notes:

1.       CIM definitions have been followed for classification of Mineral Resources.
2.       The Qualified Person for this Mineral Resource estimate is Tudorel Ciuculescu, P.Geo.
3.       Mineral Resources are estimated at a cut-off grade of 5 g/t Au and a minimum thickness of two metres.
4.       Mineral Resources are estimated using an average long-term price of US$1200 per oz Au, and a
           C$:US$ exchange rate of 1:1.
5.       The Mineral Resource estimate uses drill hole data available as of May 26, 2011.
6.       Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
7.       The uncapped Au grades are listed for comparative purposes only.
8.       Totals may not add correctly due to rounding.

 

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Press releases related to this property

October 24, 2016
Globex Drilling at Devil's Pike Gold, and Channel Sampling at Montalembert Gold Properties
(English)

September 6, 2016
Globex Exploration Update - Devil's Pike Gold Property, New Brunswick
(English)

January 7, 2016
Globex Acquires Additional Gold Resources
(English)


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