Eagle Mine - Gold
Joutel Township, Quebec (NTS 32E/08-09)
Updated April 2016
Property Description and Location
The Eagle Mine Property consists of a 7 claims (413 ha) including one 77 ha claim which was the Agnico Eagle Mines Ltd. (Agnico) Eagle Gold Mine mining concession in the west central sector of Joutel Township. The property is wholly owned by Globex and is not subject to any underlying royalty, option or joint venture agreement.
The property is located approximately 61 km SSW to the mining town of Matagami and only a few km west of the former mining town of Joutel. The property is readily accessible by Highway 109 connecting Amos and Matagami as well as by an all-weather gravel road to the small town of Authier Nord.
Geological Setting and Mineralization
The Eagle mine is located on the north flank of the regional northwest-trending McClure-Plamondon Anticline which has folded the thick sequence of dominantly felsic flows and pyroclastics units of the Joutel Formation. The felsic volcanics are unconformably overlain to the north by the thick package of clastic sediments of the Harricana Basin composed of graphitic argillites and greywackes. This major lithological contact also coincides with a major west- to northwest-trending regional, locally auriferous, deformation zone referred to as the Cameron Deformation Corridor extending for tens of km to the west beyond the Ontario border and similarly extends to the east into Desjardins Twp. This deformation zone on the Eagle Mine property affects both the underlying Joutel volcanics and overlying Harricana sedimentary sequence. The Eagle Mine lies less than 150 m south of this major break.
Past producing mines in the area include Joutel Formation volcanogenic massive sulphide (VMS) type mineral deposits such as the Globex-owned Poirier Mine (4.39 Mt at 1.97% Cu, 1.84% Zn, 4.66 gpt Ag*), and the Globex-owned Joutel Mine (1.17 Mt at 2.16% Cu*) (*production tonnes & grades referenced from L.M. Dubé, 1990, Quebec Ministère de ressources naturelles report ET-90-12, Géologie de la région de Joutel) as well as gold deposits including the Eagle Mine, flanked by Telbel to the east and the West Eagle Pit immediately to the west. All three deposits collectively produced approximately 1.1 M ozs of gold from approx. 6.2 Mt, grading 5.8 gpt Au (ref.; Agnico web site History page and Canadian Mining Handbook data from 1974 to 1993). The origin and emplacement of the gold mineralization in these deposits is the subject of much discussion with proposed models ranging from syngenetic (volcanic hydrothermal activity), to silicate/ carbonate/ sulphide facies iron formations (E.S. Barnett, R.W. Hutchinson, A. Adamick, 1982) to epigenetic/ diagenetic (D. Wyman, R. Kerrich, B. Fryer, 1986), to epithermal/ epigenetic processes (M. Jebrak, M. Gauthier, M. Auclair, F. Baillargeon & M. Legault, 2000).
Regional exploration in the sector including conventional airborne EM surveys followed by diamond drilling dates back to the early 1960’s, notably by Equity Explorations Ltd. who are credited for drilling and defining the near surface expression of what was to become the Telbel gold deposit located one km east of the Eagle deposit. The first mineral inventory of the Telbel Main Zone was calculated in 1965. In 1966, Agnico took control of Equity Explorations and brought the Telbel Mine into production in 1974. The development of the Eagle Mine followed soon thereafter. In 1990, Agnico resumed exploration drilling on their property guided largely by results from new IP surveys. This subsequent phase of drilling lead to the discovery of the Eagle West Pit Zone, located 150 m west of Globex’s property. Exploitation of the Telbel/Eagle/Eagle West Pit deposits by Agnico continued until 1993 at which time it is reported a total of approximately 1.1 million oz of gold had been extracted from the operations (ref. Agnico website History page).
Exploration and Development
Following various compilation studies at the Eagle Mine property, a first phase of drilling was undertaken by Globex in 2008 and was designed to test for the inferred down-dip and proximal northwest lateral extension of Agnico’s historic 1993 gold intercept which returned an impressive 10.16 gpt Au/10.24 m at a vertical depth of approximately 600 m. This gold intercept is located at a lateral distance of approximately 530 m from the Eagle Mine shaft. This deep-seated gold zone is also positioned approximately 250 m northwest and 75 m stratigraphically above the Main Zone of the Eagle deposit. The 2008 drilling confirmed the geologic lateral extension of the targeted units hosting the 1993 high-grade gold mineralization. However, no significant gold mineralization was encountered at this location. Both 2008 holes also confirmed the northwest extension of the known “Intermediate Zone” occurring 100 m southwest, stratigraphically below and parallel to the Main Eagle Zone. Here, holes EM-08-001 & 002, intersected modest, relatively wide gold mineralization in the Intermediate Zone returning 1.86 gpt Au/4.35 m at a vertical depth of 375 m (hole EM-08-01) and 1.20 gpt Au/10.55 m at a vertical depth of 245 m (hole EM-08-02).
In 2013, Globex resumed exploration drilling in the vicinity of the 1993 deep high grade intercept located 80 m west of the western-most expression of the Eagle deposit. A single 682 m hole was positioned to provide a 100 m overcut to the historic high grade zone. As with the 2008 drill program, the anticipated geological units, alteration features and sulphide mineralization of this targeted zone were encountered, but no significant gold values were intersected. The drill hole also intersected the western extension of the “Intermediate Gold Zone” encountering only narrow geochemically anomalous gold values at a vertical depth of 325 m. This same hole also intersected what is interpreted as the Eagle Main Zone returning a modest interval of 1.07 gpt Au/ 5.1 m at a vertical depth of approximately 420 m.
The limited, publicly available historic underground drill data for the Eagle Mine suggest the sector below the vertical depth of about 400 m within the Globex property remains relatively under-explored and therefore constitutes a prime exploration area to pursue further drilling for additional high grade gold mineralization. Integrating the results of Globex’s 2008 and 2013 drill programs coupled with cursory modelling using documented features/characteristics of the mined gold zones at Eagle and the adjacent Telbel have identified a specific target area for drilling.
In 2014, a 2-hole 1,450 m drill program targeted a mineralized zone 100 m from Eagle Mine deposit. The first hole intersected a sulfide zone similar to what has been mined at the Eagle Mine. This zone returned an interval of 4.11 gpt Au/7.2 m. The second hole intersected the same mineralized zone but returning lower grade than the first hole (1.00 gpt Au/7.0 m). Further exploration work to evaluate this zone and others on the Eagle Mine property will be considered in future programs.
In 2015, one 993 m drill hole was completed at Eagle Mine targeting a deep extension of a mineralized zone intersected by previous hole AE-92-030A (10.2 gpt Au over 10.2m). Results of hole EM-15-001 returned no significant values. Further exploration work in 2016 at the Eagle Mine property will be considered based on budget priorities.