Progress at the Golden Pike Property
TORONTO — Globex Mining Enterprises Inc. is excited to share key updates regarding Bryah Resources Limited, which has secured the Devil's Pike gold and antimony property through an option with Globex. This venture has recently received an initial cash payment of $100,000 along with a significant share transfer of 30,245,676 Bryah shares.
Exploration Commitment
Bryah is firmly committed to investing at least $500,000 in exploration activities within the first year of the agreement. This commitment underscores the company's confidence in the potential of the Golden Pike property and highlights their dedication to advancing exploration endeavors.
Positive Findings from Due Diligence
The company's due diligence has yielded encouraging results. Bryah has thoroughly reviewed historical prospecting data, soil geochemistry surveys, and drill core assays related to the Golden Pike property. The review uncovered a promising opportunity for high-grade antimony at the Bond Road Vein occurrence, where boulders have been found to assay up to 53% Sb.
Impressive Drill Results
Drilling at the Albright Brook showing, located about 1.1 kilometers northeast, has also revealed noteworthy results with drill hole DPA-16-01 reporting 12.5% Sb over 0.5 meters and DPA-16-03 showing 4.74% Sb as well as 2.38% Au.
Economic Exploration and Future Plans
The Golden Pike Gold Deposit has previously been the subject of a NI 43-101 Technical Report, which indicated an Inferred Resource of 214,800 tons at 9.60 grams per ton of gold. Bryah Resources is currently working with an independent consultant to analyze the data from previous exploration programs with a goal of reporting a JORC 2012 compliant resource within the upcoming months.
Environmental Considerations and Planning
Moreover, Bryah has enlisted SLR Consulting to conduct detailed environmental studies and initiate the environmental approval process. The strategic planning will ensure that all ecological factors are taken into account as the project progresses.
Next Steps in Development
Significantly, the historical exploration of the Golden Pike deposit has indicated that it is open in various directions, specifically towards the northeast, which is deemed highly prospective. Bryah has plans to start infill and extensional drilling before the year concludes. This drilling will be integrated into the geological model that is being developed for a mineral resource update.
Company Insights and Outlook
Globex Mining is enthusiastic about the advancements that Bryah is making concerning the gold and antimony prospects of the Golden Pike property. The strong commitment from Bryah to exploration and development signifies not only a potential economic uplift for the company but also fosters an environment for innovative mining practices.
Contact Information
For additional information, stakeholders can reach out to:
Jack Stoch, P.Geo.
Executive Chairman & CEO
Globex Mining Enterprises Inc.
Suite 219, 120 Carlton Street
Toronto, Ontario, Canada, M5A 4K2
Tel: 819.797.5242
Fax: 819.797.1470
Email: info@globexmining.com
Website: www.globexmining.com
Frequently Asked Questions
What is the focus of Bryah Resources at the Golden Pike property?
Bryah Resources aims to explore and develop gold and antimony resources at the Golden Pike property, with a commitment to significant exploration investment.
What recent actions has Bryah Resources taken regarding the property?
The company has completed due diligence, engaged consultants, and reported promising geological findings, indicating the property's high potential.
What was reported in the NI 43-101 Technical Report?
The report indicated an Inferred Resource of 214,800 tons at 9.60 grams per ton of gold at the Golden Pike Gold Deposit.
How is Bryah ensuring environmental compliance?
Bryah has partnered with SLR Consulting to conduct environmental studies and initiate the approval process to ensure compliance throughout development.
When does Bryah plan to commence further drilling?
Bryah Resources plans to start infill and extensional drilling before the end of the year, contributing to the geological model for a resource update.
