Globex and Queenston drill high grade gold at Wood-Pandora JV
Globex Mining (TSE:GMX) and Queenston Mining (TSE:QMI) announced Thursday final drill results from their 12 hole program on the joint venture Wood-Pandora property in Quebec, revealing high grade gold.
The drilling, which began in late 2010, targeted the south and north branch along the Cadillac Beak, outside the limits of known areas of mineralization.
Highlights included 10.81 g/t gold over 3.7 metres in hole W10-81; 14.71 g/t gold over 2.9 metres in hole W10-82; 13.96 g/t gold over 3.0 metres and 7.71 g/t gold over 3.8 metres in hole W10-84; and 3.08 g/t gold over 8.4 metres in hole W10-85.
The companies said the results have renewed interest in a one kilometre corridor of the Cadillac Beak, which historically produced gold from a series of vertical and flat-trending veins.
"The new work suggests that the exploration potential in this area of the property remains high and the joint venture plans further drilling in 2011," Globex and Queenston said in a joint statement.
At the joint venture Wood-Pandora property, Globex and Queenston announced in 2008 an NI 43-101 compliant resource estimate on a new gold discovery, called the Ironwood Zone, which amounted to 243,200 tonnes grading 17.3 g/t gold.
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