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Globex Properties

Magusi River and Fabie Bay Mines - Polymetallic Optioned
Duparquet, Duprat, Hebecourt, Montbray Townships, Quebec (NTS 32D/06)

Updated September 2019

In March 2011, Globex acquired 100% interest in the Magusi River and Fabie Bay Mines property from First Metals Inc.

In 2011, Globex entered into a Letter of Intent with Mag Copper Ltd. (“Mag”) whereby Mag could earn a 100% interest in the Magusi-Fabie mine property by issuing 13,500,000 Mag Copper shares, making cash payments totalling $1,075,000 over three years, incurring $10,250,000 in expenditures on the property over a four-year period and reserving a 3% Gross Metal Royalty on production for Globex.

In 2014 and 2015, Mag met with substantial difficulty raising funds to meet its objectives to develop Fabie Bay.  At year end, outstanding option payments of $175,000 were due Globex.  In February 2016, Globex notified Mag of termination of the agreement and the property was returned to the Corporation.  Globex is now updating the environmental permitting at the property and working to secure a new mining partner for the project. 

Magusi Claim Map


Property Description and Location

The Fabie Bay and Magusi River massive sulphide deposits are part of a large property comprised of 142 claims and 1 mining concession (# 872) totalling 5,376 ha in Duparquet, Duprat, Hébécourt and Montbray Townships.  The property is accessible by an all-weather gravel road leading to both deposits from highway 101, north of Rouyn-Noranda.

Geological Setting
(Source: October 1989 Feasibility Study by Deak Resources Corporation)  The Fabie Bay copper deposit is enclosed in a sequence of overturned, but relatively undeformed mafic pillow lavas, breccias and tuffs.  The partially mined ore deposit is a conformable lens of massive sulphide with a strike length of approximately 100 m in an east-northeast direction with a down-dip (70o) extension of approximately 180 m.  The ore is composed essentially of massive, fine grained pyrrhotite (30%) disseminated and finely banded chalcopyrite (5%) and pyrite (25%).  Sphalerite and galena are associated with oxidized zones and make up less than 1% of the sulphides.

The massive pyrrhotite contains both finely disseminated grains and wispy, discontinuous laminations of chalcopyrite.  Finely interspersed fragments of non-sulphide material are inter-laminated with the sulphides.  On the stratigraphic foot wall, narrow (less than 3 cm) layers of continuous massive pyrite and chalcopyrite lie at the contact with pillow lavas.  This sulphide-volcanic contact is sharp but irregular, with large chloritized pillow fragments up to 8 cm in diameter enclosed within the massive sulphides.

Approximately 30% of the massive pyrrhotite has been subsequently altered by oxidation to pyrite which is distributed throughout the orebody in a grid-like network of conformable layers and cross-cutting veinlets.  The pyrite-rich zones are usually bordered by lesser amounts of fine grained iron-rich carbonates, iron oxides and trace amounts of sphalerite and galena.

A siliceous zone, rich in disseminated pyrite, pyrrhotite and chalcopyrite is inter-layered and broadly conformable with the massive sulphide body along the stratigraphic hanging wall of the orebody.  This zone is composed of quartz (70%); disseminated sulphide (20%) and carbonate (10%).  Pyrite predominates as the most abundant sulphide (85%) in these layers, followed by chalcopyrite (10%) and lesser pyrrhotite (5%).  Copper values in the sulphide enriched portion of the siliceous zone are approximately the same as in the massive sulphide zone.  This zone is interpreted as a sulphide-rich chert, later recrystallized during metamorphism to granulated quartz.

A broad zone of disseminated pyrite (1-10%) envelops the ore zone and contains weakly anomalous copper and zinc.  This copper and zinc geochemical halo has been traced by diamond drill holes to a vertical depth of about 400 m, at which point it appears to be cut off.

The Magusi River orebody occurs in a series of acidic to intermediate lava flows which strike about east-west and dip south at 50o.  These flows are intruded by bodies of diorite which are probably sills and roughly conform with stratigraphy.  A few small dikes of feldspar porphyry also occur, again approximately parallel to the flows.  In the vicinity of the ore zone, the rocks are highly sheared and altered to sericite and chlorite schists with varying amounts of talc and quartz.  The ore occurs in a large body of massive sulphide within this schist.

The Magusi massive sulphide lens is at least 500 m long and extends to a least 400 m below surface.  The western 300 m of strike length has a maximum thickness of 35 m with an average of about 15 m and contains all of the known resources.  This thick part tapers abruptly to a narrow tail to the east averaging less than 3 m in thickness which persists along strike for at least 200 m.

All of the massive sulphide contains values in copper, zinc, gold and silver.  The better values are found near the west end of the deposit and along the footwall of the massive sulphide.  There are some scattered disseminated sulphides in the schists adjacent to the massive sulphides but metal values in the disseminated sulphides are low.

Geology map

General History 
Prospecting in the Lac Duparquet area has been intermittent and sporadic, beginning in 1948 and having little exploration success in the early years.  From 1962-63 Mining Corp. drilled two holes, one of which intersected the footwall schists of the Magusi deposit to within 20 feet of the massive sulphide lens.  The second hole was collared 1.9 km south of the property in Montbray township without intersecting any mineralization.  From that date, until the release of a Quebec Government sponsored INPUT survey in 1972, no work was recorded in the property area.

In 1972 a staking rush took place, predicated on the results of the then released airborne data.  At that time a prospector from Noranda, Mr. Frank P. Tagliamonte and his partners, M. Labchuk and M. Arcus, prospectors from Duparquet and Toronto respectively, staked the area south of Lac Duparquet and optioned what is now Lots 38 to 43 Range 1, Hébécourt township, to Geophysical Engineering Ltd.  This ground, in which the Magusi deposit was found almost immediately, attracted the attention of the directors of New Insco Mines who tied up nearby ground from the same vendors.  Shortly after acquisition, a Dighem survey was flown and follow-up ground EM and magnetic surveys located a weakly magnetic conductive zone on Lot 48, Range 1 (Fabie Bay Mine).  The first drill hole collared to test this conductor (HE No.1) intersected a 61.9 ft interval which assayed 2.96% Cu.  A subsequent drilling program (68 holes, 44,191 ft) outlined a mineralized massive sulphide (pyrrhotite) lens estimated at 1.0 M tons averaging 2.5% Cu and 0.25 opt Ag (Zn less than 0.07%).

The Magusi River property was later purchased by Noranda Mines Limited in 1974 while the Fabie Bay deposit was leased from the Hébécourt Syndicate that same year.  Noranda Mines, developed the Fabie Bay mine to the point of production and in 1976-77 mined a total of 103,574 tons of ore grading 2.64% Cu from a small open pit and sank a production ramp almost to the bottom of the known orebody.  In 1977, due to depressed copper markets, Noranda requested that the Syndicate agree to close the mine and extend the terms of the lease.  This extension was granted, however the Fabie Bay Mine was never re-opened and eventually was returned to the Syndicate in 1987 who subsequently optioned it to Deak Resources Corporation.

Deak Resources Corporation performed several feasibility studies.  Both properties eventually became the property of A. J. Perron Gold Corporation and then Sikaman Gold Resources and two other associated juniors.  Sikaman and its partners eventually went bankrupt and the claims fell open in 2002.  Globex acquired 100% interest in the claims in 2002 and subsequently optioned the property to Noranda Inc.

Noranda drilled 5 deep holes to explore for a large deep orebody.  They intersected uneconomic sulphides and terminated the joint venture in late 2003. 

In 2004, Globex drilled an exploration hole on the east side of the Fabie Bay deposit.  The hole encountered massive sulphides grading 3.44% Cu and 8.1 gpt Ag over 3.7 m.

Exploration and Development
On March 30, 2012, Mag announced by press release the results of an updated resource estimate for the Magusi River Copper-Zinc-Silver and Gold deposit prepared by Roscoe Postle Associates Inc. (“RPA”) and reported in accordance with National Instrument 43-101 (“NI 43-101”) requirements.  The press release summarizes the resources identified as indicated resources of 1,309,000 t grading 4.12% Zn, 1.99% Cu, 42.8 gpt Ag and 1.27 gpt Au and an inferred resource of 355,000 grading 0.39% Zn, 3.41% Cu, 24.2 gpt Ag and 0.26 gpt Au).  RPA carried out the mineral resource estimation for the Magusi River Deposit using 3D block modelling.  Although the resource estimate was prepared using the requirements of NI-43-101, a qualified person has not reviewed it for Globex and as such Globex recommends the reader to review the technical report filed by Mag on SEDAR (  The following table summarizes the RPA mineral resource estimate at an NSR cut-off value of $110/t:





Ag (g/t)

Au (g/t)

 High Grade Copper






 High Grade Zinc






 Total Indicated













  1. CIM definitions were followed for Mineral Resources.
    Mineral Resources are estimated at a cut-off grade of $110 NSR/tonne.

  2. Mineral Resources are estimated using an average long-term copper price of US$3.50 per pound, a zinc price of US$0.95 per pound, a gold price of US$1,300 per ounce, a silver price of US$21.00 per ounce, and a US$/C$ exchange rate of 1.00 to 1.00.

  3. Grade interpolation was carried out with inverse distance squared (ID2) method.

  4. Mag provided RPA with NSR multipliers per metal unit.  The NSR multipliers, which vary with head grades and metal recoveries, are based on SGS Lakefield metallurgical tests.  The NSR values were calculated for each assay as well as each block in the model.

  5. Minimum underground mining width of two metres was used.

March 21, 2012 - NI 43-101 Technical Report on the Mineral Resource Estimate for the Magusi Project, Abitibi Region, Canada for Mag Copper Ltd. Prepared by Bernard Salmon, ing., Holger Krutzelmann, P.Eng. - Roscoe Postle Associates Inc.

pdfView Report

The Magusi River Deposit is situated in a geological environment with good potential to increase the extent of the currently known massive sulphide mineralization.  One potential target is the gap between the Main and East Zones where, due to the lack of drilling, the continuity of mineralization between the lenses has not been demonstrated to date.  Drilling indicates the presence of other, currently low grade sulphide lenses that could be further explored for continuity and extensions with a view to generating higher grade zones both along strike and dip.

The Magusi River Deposit is open at depth and laterally with a few drill holes which indicate a good potential for additional mineralization at depth.  There appears to be potential for economic mineralization along the Magusi River Deposit volcanogenic horizon or other sub-parallel horizons.


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Press releases related to this property


December 15, 2021
Globex Options Magusi Mine Project
(English) | (French) |

April 2, 2015
Mag Copper and Partners to Go Underground at Globex’s Magusi Deposit

May 7, 2014
Globex Intersects 4.8m Grading 5.39 g/t Au at Eagle Mine Property
(English) | (Français) |

June 28, 2011
Globex Receives Large Share Position of Mag Copper Limited
(English) | (Français) | (Deutsch) |

April 6, 2011
Globex Signs LOI on Magusi Mine Property Package
(English) | (Français) | (Deutsch) |

March 24, 2011
Globex Reacquires Magusi River Deposit and Other Assets
(English) | (Deutsch) |

July 13, 2009
Shareholders' Update
(English) | (Deutsch) | (Français) |

February 11, 2009
Globex Partner announces Magusi Mineral Resource
(English) | (Deutsch) | (Français) |

October 17, 2008
Globex: Update on exploration and prospects
(English) | (Deutsch) | (Français) |

July 23, 2008
Ramp Starting at Globex’s Magusi Royalty Property
(English) | (Deutsch) | (Français) |

May 15, 2008
Globex Reports Record Quarter on Royalties and Other Revenue
(English) | (Deutsch) | (Français) |

April 29, 2008
Globex receives cash and shares; Commercial Production starts at Fabie Bay
(English) | (Deutsch) | (Français) |

February 21, 2008
Update: Work on Globex Properties
(English) | (Deutsch) | (Français) |

January 23, 2008
Globex's Magusi Deposit Bulk Sampling Permit Application
(English) | (Deutsch) | (Français) |

January 17, 2008
Globex to receive first Gross Metal Royalty revenue from Fabie Bay copper mine
(English) | (Deutsch) |

January 11, 2008
Major Deliniation Drill Program Begins at Globex’s Magusi River Royalty Property
(English) | (Deutsch) | (Français) |

December 18, 2007
A Personal Note from The President of Globex to Shareholders
(English) | (Français) |

November 21, 2007
Globex update on activities
(English) | (Français) |

October 24, 2007
Globex's Fabie Bay Retained Interests Nearing Cash-Flow
(English) | (Français) |

September 19, 2007
Globex Anticipates Copper Revenue
(English) | (Français) |

June 13, 2007
Globex's Updates Financial Prospects for Next 12 Months
(English) | (Français) |

June 6, 2007
Commercial Production Approaches Rapidly at Fabie Bay Mine
(English) | (Français) |

May 7, 2007
Globex's Fabie Bay Royalty In Sight
(English) | (Français) |

April 5, 2007
Fabie Bay Copper Mine Update
(English) | (Français) |

January 12, 2007
Fabie Bay copper-silver ore to be milled by Xstrata
(English) | (Français) |

November 28, 2006
Update on Globex's Fabie Bay Project
(English) | (Français) |

November 21, 2006
Globex Options Rousseau Gold Project
(English) | (Français) |

September 28, 2006
Underground development at Globex's Fabie Bay copper-silver deposit and other news
(English) | (Français) |

September 26, 2006
Metallurgical drill holes return up to 2.9 % copper over 28.8 meters
(English) | (Français) |

September 6, 2006
Globex receives payments while exploration continues
(English) | (Français) |

June 28, 2006
Shareholder Update - June 28, 2006

April 27, 2006
Globex Completes Transaction Regarding Advanced Fabie Bay and Magusi Copper, Zinc, Gold, Silver Deposits
(English) | (Français) |

March 13, 2006
Globex Deals Fabie Bay and Magusi River Deposits in order to Accelerate Production
(English) | (Français) |

November 28, 2005
Globex Commissions Mineral Resource Report
(English) | (Français) |

November 8, 2004
Massive Sulphides Intersected at Fabie Bay Property
(English) | (Français) |



Partner News related to this property


April 2, 2015
Mag Copper Signs Loi with AR2K and Redpath ro Form a Joint Venture on the Magusi Copper/Zinc Property

August 6, 2013
Mag Copper Announces Commitment Letter to Insure US$15 Million Convertible Debentures

July 16, 2012
Mag Copper Reports Delineation of Mineralized Blocks at the Magusi Deposit

May 16, 2012
Mag Copper Limited Files NI 43-101 Technical Report and Mineral Resource Estimate for its Magusi River Deposit in Quebec

February 14, 2012
Mag Copper Limited Announces Commencement Drill Program - Magusi River & Fabie Bay Property

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