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Coconut Club - REE Showing Royalty
McLachlin & Pommeroy Townships, Quebec (NTS 31L/15, 31M/02))
Updated November 2021
Property
The Coconut Club property consists of 8 claims totalling approximately 470 hectares in McLachlin and Pommeroy townships, Quebec.
Note:(Tr = La + Ce, %)
Ownership
Globex owns 100% interest in the property
Access
The claims may be reached by road from the town of Bearn or from the town of Kipawa to the west. Alternatively the property is accessible by float plane from Kipawa.
History
Globex acquired the property in 2005 and subsequently optioned it to Noront Resources Ltd in 2006. An airborne radiometric and magnetometer survey was completed in 2006 by GPR International. This airborne survey was followed up by a combined geology, scintillometer and Beep Mat survey conducted by InnovExplo on behalf of Noront in 2007. This work lead to the discovery of the Coconut Club showing, a uranium-thorium and rare earth element (lanthanum and cerium) showing located on the Main Hunter’s Point property. Noront dropped its option later that year.
In 2008 Globex carried out a drilling program on the Coconut Club showing totaling 254 meters. This program failed to intersect the values reported during previous exploration work done at surface.
Geology
General Geology
The property falls within Precambrian Grenville type rocks consisting of formations of parageneiss, quartzite, granite gneiss and garnet gneiss. The property in a regional sense is on the western outer edge of a large basin like structure which forms a synclinorium.
Coconut Club
The Coconut Club showing occurs within a quartzo-feldspathic gneiss hosted REE showing intruded by pegmatitic mobiliza. InnovExplo reported the following surface samples as part of their 2007 exploration program:
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589125
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864 ppm U
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7.94 g/t Au
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>500 ppm Y
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>10,500ppm REE (La+Ce)
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589189
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651 ppm U
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6,210 ppm Th
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>500 ppm Y
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>10,500ppm REE (La+Ce)
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589190
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651 ppm U
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4,000 ppm Th
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>500 ppm Y
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>10,500ppm REE (La+Ce)
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Allou and Carrier, 2008
In 2008, Globex drilled 6 shallow holes totalling 624 m on the Coconut Club showing, as a follow up to InnovExplo’s work in 2007, the drilling intersected up to 1,170 ppm La and 2,390 ppm Ce over 0.9 m.
In August 2010, Globex drilled an additional 300 m hole to the north of this showing and intersected 10.40 ppm U and 1,623 ppm Zr over 1.5 m.
Recent Work
Five high grade surface samples taken at the Coconut Club showing by InnovExplo assayed up to 7.10% La and 13.40% Ce, with the average total Light Rare Earths content of the five samples being 15.33% (see Globex press release dated March 4th, 2010 for full details).
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