Globex Mining Enterprises Inc. recently made a significant announcement regarding a new option agreement with Victory Battery Metals Corp. This agreement allows Victory to earn 100% interest in four Globex claim groupings in the Sept Iles region of Quebec.
One of the key aspects of this agreement is the inclusion of the Kachiwiss Uranium deposit, which is reported to have a historical resource of 16,598,000 tonnes grading 0.016% U3O8. This deposit is within a pegmatic dyke oriented NW45o, measuring 975 metres long by 610 to 760 metres wide, with potential recoveries of up to 92.9%. Additionally, the option includes claims covering lake bottom sediment sample uranium anomalies to the north, totaling 156 mining claims.
Under the terms of the agreement, Globex will receive $400,000 in cash and 1,500,000 Victory shares over 3 years. Victory is also committed to investing $3,000,000 in work on the claims over a 4-year period. Globex will retain a 3% Gross Metal Royalty on all metals and minerals extracted from the claims, with the option for Victory to purchase an additional 1% GMR for $1,000,000.
This news comes as Globex continues to expand its mining operations and partnerships in Quebec. The company’s President and CEO, Jack Stoch, expressed enthusiasm for the agreement, highlighting the potential benefits for both parties involved. Investors and stakeholders are eager to see the results of this new venture and the impact it will have on Globex’s overall growth and success in the mining industry.
