Globex Mining

The Timmins Talc and Magnesite Project, located in Ontario, is advancing towards the completion of a pre-feasibility study, and potential spin off as a publicly listed company. The new company will then finance and develop a mine capable of processing at least 1 million tonnes of ore per year, to produce talc and magnesia products for at least 35 years. Globex currently holds 90% of the project and pays all funding costs, until the project is spun off and separately funded. The remaining 10% interest is held by Drinkard Metalox, who have developed and commercialized hydrometallurgical and electrochemical processes over three decades, for a wide array of international clients.

The Timmins Project is located in the well established mining province of Ontario, and currently carries a NI 43-101 compliant Indicated Resource in the A Zone “Core” of 12,728,000 tons of soluble MgO at 20%, soluble Ca at 0.21%, MgO at 52.1%, and Talc at 53.4%. The Inferred Resource stands at 18,778,000 tonnes of soluble MgO at 20.9%, soluble Ca at 0.26%, MgO at 53.1%, and Talc at 31.7%. The A Zone “Fringe” carries an additional Inferred Resource of 5,003,000 tonnes of soluble MgO at 17.6%, soluble Ca at 2.82%, MgO at 34.3%, and Talc at 33.4%. This resource was defined within an area measuring 200 meters x 700 meters to a depth of 100 meters, and is open at depth and along strike, for additional potential of at least 20-25 million tonnes. The B Zone has potential for an additional 40 – 45 million tonnes and was not included in the resource calculation.

Prior attempts to develop the deposit were hindered by high levels of iron contamination of 6.00% -6.50%, which were not amenable to standard processing methods and produced an inferior product. Drinkard Metalox completed laboratory trials utilizing a two stage process that it developed and removed the iron contamination, producing a white, high grade magnesium oxide, with a purity exceeding 98%. The first floatation stage produces Talc at 62.64%, MgO at 31.61% and Fe at 0.31%. The second stage metallurgical process pulls all of the iron into solution and precipitates it, leaving a high grade and pure magnesium oxide that contains a small quantity of very manageable calcium.

Micon International completed a proposed budget to bring the project up to a completed bankable feasibility stage for $7.72 million. This included all drilling, technical studies, environmental studies, permitting, and construction of a small scale pilot plant for talc and magnesia production. A mini-plant was completed and recently finished a full set of trials, with positive results. Discussions with potential clients are already underway and prefeasibility studies are due to commence for the construction of a large scale demonstration/commercial plant. Permitting is also underway.

The company has established Eco Refractory Solutions Inc., with Globex holding 75% and Drinkard Metalox “DMI” holding 25%, which will serve as the technical and marketing vehicle for the processing of refractory gold ores and tailings, both in North America and beyond. The technology was developed by DMI, and early results indicate recoveries in the range of 95% or more are possible.

The partners believe that their process can deliver high gold recoveries from refractory ores, with lower capital and operating costs and less environmental impact than other methods. The process is in large part a closed system regenerating and recycling the principal reagents. In addition, problems related to the release of arsenic into the environment, and acid mine drainage are solved by the transformation of the arsenic and the oxidation of sulfides into environmentally stable forms. Confidentiality agreements have been signed and trials are underway on a number of projects.

The company recently acquired a significant land position within the Chibougamau Mining Camp, which is one of Quebec’s major mining areas with total production of over 46 million tons of copper, gold and silver ore having been mined, and mineralization identified below depths of 5,000 feet.

One claim package covers an area measuring 10.8 kilometers in length, and 3.6 kilometers in width, and have been covered by airborne and ground geophysical surveys. This includes the Kokko Creek Mine for copper, the Chibougamau GoldFields Mine, the Bateman Bay Mine, the Grandroy Mine, the S-3 Mine and much of the Copper Cliff Mine, plus the Berrigan Deposit which is prospective for gold, silver, zinc and copper. The mine properties are in close proximity to each other and can be worked year round.

The new acquisitions are highly prospective properties with mining histories (except Berrigan which has not been mined) and small non NI 43-101 compliant resources of copper, gold, and silver delineated to shallow depths and hosting excellent exploration potential.

Significant option payments were received from NS Gold (TSX-V: NSX), making two option payments for a total of $500,000 on the Mooseland Gold Deposit, in Nova Scotia. NQ Explorations (TSX-V:NQE) agreed to pay $650,000 cash and 4 million shares over 5 years, plus a royalty over the Shortt Lake Gold Mine and Rare Earth Project, and Nystar NV (XBRU:NYR) paid a $133,600 royalty on production of zinc from the Gordonsville Zinc Mine.

Several other option payments for small amounts were also made. New projects included the acquisition of the North Star and Hurricane Point Gold Mines in Nova Scotia, a series of manganese zones in Woodstock, New Brunswick, and sampling of the high grade Turner Falls Rare Earths Project.

In the near and medium term, developments on the Timmins Talc and Magnesia Project will have the most influence on the market capitalization of Globex. The company has already confirmed that high quality talc, and high purity magnesium, can be produced. The release of positive pilot plant studies will help draw the project towards a public listing, completion of a bankable feasibility study and provision of mine finance.

Guyenne (7 claims) - Gold, Copper, Zinc Optioned
Guyenne Project - Gold, Copper, Zinc
Heva Property - Gold
Joubel - Cooper, Zinc
Joutel Mine Property - Copper
King of the North - Gold Royalty
Kokko Creek Mine - Gold, Copper Royalty
La Pause Property - Gold
Laguerre-Knutson-Raven River Mines - Gold
Lake Chibougamau (incl. S-3 & Tommy) - Gold, Copper Royalty
Lyndhurst Mine - Partial JV on Mining Concession - Polymetallic JV
Magusi River and Fabie Bay Mines - Polymetallic Optioned
Maizerets - Gold
Massicotte - Gold Royalty
Monique North - Gold
New Marlon Mine - Gold
Nordeau Project - Gold, Iron
Normetal Mine - Polymetallic
Osisko East - Gold
Pacaud - Gold
Pandora Wood & Central Cadillac Mines - Gold JV
Parbec Deposit - Gold
Poirier Mine - Polymetallic
Preissac Moly - Molybdenum
Quebec Chibougamau Goldfields Mines - Gold, Silver, Copper
Railroad - Gold
Ralleau Project - Polymetallic
Ramp Mine - Gold
Range 10 - Duverny Property - Gold
Raymor - Gold, Zinc Royalty
Resenore North - Gold
Rich Lake - Zinc, Copper, Gold, Silver
Rousseau Property - Gold
Russian Kid Deposit - Gold Royalty
Sheen Lake - Platinum, Palladium, Nickel
Shortt Lake Mine - Gold, Rare Earths
Sigma East - Gold
Simon Lake Property - Gold
Siscoe East - Gold
Smith-Zulapa Property - Au, Cu, Ni, Pt, Pd
Soisson - Gold
Standard Zone - Gold Royalty
Sulphur Converting/Magnetite Bay - Fe, Au, Zn, Cu, Royalty
Tarmac Project - Gold
Tiblemont Island - Gold Royalty
Tiblemont-Tavernier Property - Gold, Polymetallic
Tonnancour Project - Polymetallic
TTM - Timmins Talc-Magnesite Deposit
Turgeon Lake - Gold
Tut Zone - Gold
Vauze Mine - Polymetallic
Venus Zone - Gold
Victoria West Property - Gold
Virginia - Gold Royalty
Wrightbar Mine - Gold
                    §Properties outside the Ontario/
Quebec Abitibi Region

Bell Mountain Mine - Gold Optioned
Charlevoix - Gold, Iridium, Osmium
Cheticamp - Zinc, Lead, Copper Royalty
French Village - Copper, Lead Royalty
Gayhurst Deposit - Molybdenum
Getty Deposit - Lead, Zinc Royalty
Grand Calumet - Uranium, Fluorite
Hematite Lake Deposit - Iron Optioned
Houlton Woodstock Zone - Manganese
Hunters Point (6 properties) - Uranium, Gold, REE Showings
Hurricane Point and North Star - Gold
Lamy Deposit - Mica
Leipsigate Zone - Gold Royalty
MacKinnon Property - Gold
Mid-Tennessee Deposit - Zinc Royalty
Mooseland Mine - Gold Royalty
Moulton Hill - Polymetallic
Suffield Mine - Au, Ag, Cu, Zn, Pb Optioned
Suzor Deposit - Mica
Titan Iron Project - Iron
Turner Falls Property - REE
Vulcan Mountain Deposit - Pt, Pd, Au

GLOBEX seeks to create shareholder value by acquiring mineral properties, enhancing them and either exploring, optioning or joint venturing them, developing them to production, or in some cases selling projects outright.  Our property information is currently being updated. Contact us at any time for details on any of our properties.     Adanac - Gold Arntfield Mine - Gold Royalty Authier - Lithium Royalty Bateman Bay Mine - Gold, Copper Royalty Beacon #1 - Gold Beauchastel-Rouyn Property - Polymetallic Berrigan Lake (Taché) - Gold, Silver, Zinc Royalty Berrigan South - Gold Royalty Berrigan West - Polymetallic Bilson Cubric - Nickel-PGE Project - Ni, Pt, Pd, Rh, Cu Blackcliff Deposit - Gold JV Bousquet Project - Gold Buckell Lake - Gold Côté - Gold, Copper, Nickel Royalty Champdore Project - Rare Earths Chibougamau Mining Camp - Au, Cu, Ag, Zn, Fe Royalty Chicobi - Zinc, Copper Colnet Lake - Gold, Copper, Zinc Continental Property - Copper Copper Cliff - Gold, Copper Royalty Courville Property - Gold Disson - Gold Royalty Dollier Property - Gold Donalda Mine Property - Gold Duquesne West Property - Gold Optioned Duvan Zone - Copper Duvay Zone Project (3 properties) - Gold Royalty Eagle Mine - Gold East Amphi Mine - Gold Royalty Eau Jaune Lake Property - Gold Farquharson - Gold Optioned Fayolle - Gold Royalty Fecteau Lake - Gold, Copper, Zinc Fontana - Gold Optioned Fontbonne Lake - Copper, Zinc Fourax - Gold Royalty Fourniere Lake - Gold Fox West - Gold Grandroy (Globex) - Gold, Copper, Molybdenum Grandroy Mine - Gold, Copper, Molybdenum Royalty Guyenne (7 claims) - Gold, Copper, Zinc Optioned Guyenne Project - Gold, Copper, Zinc Heva Property - Gold Joubel - Cooper, Zinc Joutel Mine Property - Copper King of the North - Gold Royalty Kokko Creek Mine - Gold, Copper Royalty La Pause Property - Gold Laguerre-Knutson-Raven River Mines - Gold Lake Chibougamau (incl. S-3 & Tommy) - Gold, Copper Royalty Lyndhurst Mine - Partial JV on Mining Concession - Polymetallic JV Magusi River and Fabie Bay Mines - Polymetallic Optioned Maizerets - Gold Massicotte - Gold Royalty Monique North - Gold New Marlon Mine - Gold Nordeau Project - Gold, Iron Normetal Mine - Polymetallic Osisko East - Gold Pacaud - Gold Pandora Wood & Central Cadillac Mines - Gold JV Parbec Deposit - Gold Poirier Mine - Polymetallic Preissac Moly - Molybdenum Quebec Chibougamau Goldfields Mines - Gold, Silver, Copper Railroad - Gold Ralleau Project - Polymetallic Ramp Mine - Gold Range 10 - Duverny Property - Gold Raymor - Gold, Zinc Royalty Resenore North - Gold Rich Lake - Zinc, Copper, Gold, Silver Rousseau Property - Gold Russian Kid Deposit - Gold Royalty Sheen Lake - Platinum, Palladium, Nickel Shortt Lake Mine - Gold, Rare Earths Sigma East - Gold Simon Lake Property - Gold Siscoe East - Gold Smith-Zulapa Property - Au, Cu, Ni, Pt, Pd Soisson - Gold Standard Zone - Gold Royalty Sulphur Converting/Magnetite Bay - Fe, Au, Zn, Cu, Royalty Tarmac Project - Gold Tiblemont Island - Gold Royalty Tiblemont-Tavernier Property - Gold, Polymetallic Tonnancour Project - Polymetallic TTM - Timmins Talc-Magnesite Deposit Turgeon Lake - Gold Tut Zone - Gold Vauze Mine - Polymetallic Venus Zone - Gold Victoria West Property - Gold Virginia - Gold Royalty Wrightbar Mine - Gold Properties outside the Ontario/ Quebec Abitibi Region  Bell Mountain Mine - Gold Optioned Charlevoix - Gold, Iridium, Osmium Cheticamp - Zinc, Lead, Copper Royalty French Village - Copper, Lead Royalty Gayhurst Deposit - Molybdenum Getty Deposit - Lead, Zinc Royalty Grand Calumet - Uranium, Fluorite Hematite Lake Deposit - Iron Optioned Houlton Woodstock Zone - Manganese Hunters Point (6 properties) - Uranium, Gold, REE Showings Hurricane Point and North Star - Gold Lamy Deposit - Mica Leipsigate Zone - Gold Royalty MacKinnon Property - Gold Mid-Tennessee Deposit - Zinc Royalty Mooseland Mine - Gold Royalty Moulton Hill - Polymetallic Suffield Mine - Au, Ag, Cu, Zn, Pb Optioned Suzor Deposit - Mica Titan Iron Project - Iron Turner Falls Property - REE Vulcan Mountain Deposit - Pt, Pd, Au