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Globex Mining reports drill results from Francoeur/Arntfield property

The firm drilled eight mainly shallow holes in March this year

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Two holes were sunk through the south and Francoeur-Wasa Shears, the firm said

Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) has reported drill results from the Francoeur/Arntfield property in Quebec, where it as following up on anomalies identified by surveying.

The firm drilled eight mainly shallow holes in March this year to follow up on anomalies south of the Francoeur-Wasa fault, the group said.

READ: Globex Mining shares rise on new drill results from Quebec property

It added that while gold was encountered in many of the holes, the grades and intersections were disappointing. A highlight intersection was  3.33 g/t (grams per ton) of gold over 1.50 metres.

No holes were drilled under the 450 Gold Zone area, the firm noted, where channel sampling had returned 7.04 g/t gold over 9.5 m (meters).

Two holes were sunk  through the south and Francoeur-Wasa Shears. One hit 2.10 g/t gold over 1.5 m and another hit 2.45 g/t of the yellow metal over 3 m.

"While disappointed in finding that the induced polarization anomalies did not demonstrate high grade gold values, we are now able to focus on identifying and testing the control structures of the mineralization which may be northeast trending cross-cutting structures inside the main east west shears," the company said in Friday's statement.

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