Farquharson
Location, Access, Description
The Farquharson property consists of eight (8) mining claims for a total of 117 ha located in Bourlamaque township on the eastern limits of the city of Val d’Or.
In January 2012, Globex entered into an agreement with Integra Gold Corp. (‘Integra’), to option a 100% interest in the Farquharson property (renamed by Integra to the Donald Property). The claims are located directly east of the Company’s flagship Lamaque Gold Project in Val d’Or, Quebec. The agreement calls for Integra to pay $175,000 and 250,000 shares of Integra over a period of four years. Globex retains a 3% Gross Metal Royalty subject to a right by Integra to purchase one third (1%) of this royalty for $750,000 for a period of five years from the date of the exercise of the option.
The property was acquired by the Integra in order to continue exploration work on the eastern lateral extension of the Triangle Zone and its host tonalite intrusive sill.
On February 10, 2015, Globex received the final $100,000 cash and 100,000 share payments from Integra Gold Corp. to complete the purchase of a 100% interest in the Farquharson property. To date, Globex retains the entire 3% Gross Metal Royalty on production from the Farquharson property.
Geology and Mineralization
According to Integra (see Integra press release dated January 18, 2012) the Farquharson property geology mainly consists of East-West striking felsic to mafic volcano-sedimentary rock units (rhyolites, andesites, basalts and pyroclastics) and local tonalitic intrusive sills and plugs that are known to host gold mineralization when altered and fractured. Past exploration drilling on the Donald Property has returned significant gold results. The gold mineralization is associated with quartz-tourmaline-carbonate-pyrite veins and shears.
There are numerous gold zones on the Lamaque property. The closest to the Farquharson property is the Triangle deposit. Mineralization at the Triangle deposit is hosted within a series of parallel, shear-hosted structures which strike east to west and dip to the south at angles varying from 35o to 65o. Integra has identified 34 of these structures within the intrusive and volcanic host rock at the Triangle deposit. The Triangle zone is located approximately 200 m to the west and along strike of the Farquharson property.
On March 24, 2015 Integra announced via press release initial drill results from its 2015 Triangle deposit extension drill program. According to Integra, 2015 drilling at Triangle is focusing on widely spaced extension drilling of known mineralized zones to the south, laterally to the east and west, and at depth. Integra reported completing 19,811 m of diamond drilling in 46 holes including approximately 11,668 m in 21 holes at the Triangle deposit. Integra announced results from the first 12 holes (6,084 m) in the news release, all targeting the southern extensions of the deposit. Reported intercepts confirm extensions up to 330 m down-dip to the south of the Triangle deposit with all zones remaining open laterally and at depth.
Significant intercepts from the Triangle drill program reported in the March 24th release include:
| TM-15-01 | Zone T7 | 14.78 gpt Au over 2.0 m |
| TM-15-02 | Zone T1 | 14.79 gpt Au over 10.0 m |
| TM-15-05 | Zone T0 | 8.01 gpt Au over 4.5 m |
| Zone T10 | 11.47 gpt Au over 8.0 m | |
| TM-15-06 | Zone T5 | 7.00 gpt Au over 7.0 m |
| Zone T10 | 5.19 gpt Au over 5.0 m | |
| Zone T11 | 11.78 gpt Au over 1.0 m | |
| TM-15-08 | Zone T10 | 15.55 gpt Au over 5.0 m |
