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Globex Properties

Laguerre-Knutson-Raven River Mines - Gold
Hearst & McVittie Townships, Ontario (NTS 32D/04)

Updated May 2015

Location
The property straddles the Hearst & McVittie Township line and is located directly north-east of the town of Larder Lake and on the shore of Larder Lake. The property consists of three mining leases totalling 62 ha.

Ownership
The property is owned 100% by Globex.  A 1% NSR is payable to a third party on the recovery of all gold above 10,000 oz.  Globex may purchase the NSR at anytime for $300,000.

Access
The property is bounded on the west side by paved provincial highway 66 and the south end is traversed by an all season, east-west gravel road which leads to Larder Lake.

Laguerre Map

History

1939 - 1946

Laguerre Gold Mines Ltd. sank a shaft on the property to a depth of 281 ft and did 281 ft of development work on the 250 ft level in order to open up and explore gold mineralization in a north-south trending syenite dyke.

1946 - 1947

Laguerre Gold Mines Ltd. deepened the shaft to 778 ft and developed levels at 420, 590 and
760 ft depths.  2,443 ft of lateral development including a 262 ft eastward cross-cut on the
760 ft level were completed. A drift was also driven southward for a distance of 786 ft.  Surface drilling and 4,240 ft of underground diamond drilling were also completed, 2,000 ft of which was drilled below the 760 ft level.

1970 - 1973

R.A. McGregor completed trenching and 2 diamond drill holes (820 ft) Magnetometer and electro-magnetic surveys.

1974

Sudbury Contact Mines Ltd. completed 4 surface drill holes and began a multi-year surface and underground drill program on the gold bearing north-south syenite dyke in south half of property.

1975 - 1976

Sudbury Contact Mines Ltd. installed a head frame and dewatered the Laguerre shaft, driving a drift beside a collapsed drift and completing further drilling.

1978 - 1979

Sudbury Contact Mines Ltd. continued drilling, completing 9 drill holes in 1978 and 8,400 ft in 1979.

1980

Sudbury Contact Mines Ltd., completed several thousand feet of diamond drilling .

1980 - 2000

R.A. MacGregor - resampling of Sudbury Contact drill core.

 

Exploration and development
Sudbury Contact Ltd. reported an historic non NI 43-101 gold resource of 56,680 tons grading 0.128 opt in the Laguerre syenite dyke.

Parallel and just east of the syenite dyke, two north-south quartz vein systems were trenched, returning; 0.42 opt Au over a length of 160 ft and an average width of 5.3 ft on the first; and 0.25 opt Au over a length of 90 ft and an average width of 5.9 ft on the second.  An historic non-NI 43-101 resource of 26,100 tons grading 0.20 opt Au is reported on the 2 veins.  Subsequent drilling extended the known veins to depth but gold values were erratic.  Historic resources have not been completed by a Qualified Person following criteria established in NI 43-101 and as such should not be relied upon.  Examination of the core by the Kirkland Lake resident geologist has shown that the two quartz veins are in volcanic tuffs not porphyries as originally thought.

In 2001 Globex acquired 100% interest in the property subject to a 1%.

In 2004 Globex completed an IP survey over the northern half of the property and drilled 3 holes totalling 648.8 m to test an IP anomaly and two magnetic signatures.  Wide zones of alteration (fuchsite, carbonate) were intersected as well as sub-economic to anomalous gold values.  Also in 2004, drilling north of the Laguerre and Knutson zones intersected numerous lamprophyre dykes (locally up to 63 m in width) which were analysed for diamonds but none were found.

In October 2005, Globex acquired the adjoining Raven River Gold Mine Property.  The property previously saw exploration and production from 1936 to 1939.  A report by Raven River Gold Mines (1939) indicates an historic, non NI 43-101 mineral resource of 11 million tons grading 0.05 opt gold in an altered syenite plug.

In October 2005, the discovery of a diamond fragment within a lamprophyre dyke was announced.  The diamond was recovered by caustic dissolution of a biotite-rich lamprophyre dyke collected by the Ontario Ministry of Northern Development and Mines District Geologist as part of a Discover Abitibi Initiative.  The diamond is described as a 2.214 mg macro-diamond, being 0.011 carats, measuring 1.28 mm X 1.11 mm X 1.18 mm, having a white translucent colour with graphitic inclusions and displaying significant cleavage.

In April 2006, a drill campaign was undertaken to test the Raven River gold bearing "syenite" intrusives. Four holes were drilled, 2 of which were abandoned upon intersecting underground workings. Two holes succeeded in traversing the "syenite" which was found in reality to be a highly altered ultramafic.  Large zones of intense alteration and low grade gold mineralization were encountered

Exploration potential
Previous work on the property has focused on the north-south gold bearing syenite dyke on which the Laguerre shaft was sunk and where Sudbury Contact drilled from surface and underground to a depth of approximately 300 m.  The syenite dyke is open to depth below the last gold bearing intersections and Globex considers this area a significant target area given the vertical nature of other local gold deposits.

Of particular interest to Globex are a NW-SE linear magnetic low and coincident VLF anomaly which corresponds with a zone of heavy carbonate alteration and gold mineralization at the southeast corner of the property. These corresponding features traverse along a possible intersection between the known north-south gold bearing structures with a NW-SE trending felsic intrusive contact to the north of the Laguerre shaft.  This area has never been explored.

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Press releases related to this property

June 28, 2006
Shareholder Update - June 28, 2006
(English)

April 12, 2006
Globex Starts Drilling Raven River Property
(English) | (Français) |

October 17, 2005
Diamond Added to Globex's Gold Setting
(English) | (Français) |

September 22, 2004
Exploration Update on Globex's Properties
(English) | (Français) |


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