More Successful Metallurgical Test Results Increase Favorable Outlook for Globex Mining

Several option and royalty partners of Globex Mining Enterprises Inc. (CA: GMX – $1.46 & US: GLBXF – $1.01 & GER: G1MN – €0.91) have provided attractive progress updates.

The path to advance an exploration prospect through to mine development is perilous, requiring expensive and time-consuming work to complete each step. However, the odds for a successful outcome improve materially as each phase is achieved along the way. Globex selected ambitious and capable companies to partner with and now has the luxury to applaud the success of these partners as they advance the projects towards development.

Radisson Mining Resources Inc is testing sample material at a nearby mill and processing plant, while exploration work continues at its O’Brien project. Brunswick Exploration Inc has completed metallurgical testing of lithium alteration sample material from its Mirage Project. Cerrado Gold Inc is advancing its Mont Sorcier Iron Ore project with advanced testing of processing options for its magnetite iron ore and vanadium deposit, while Emperor Metals Inc has presented another round of drill core assays that upgrade the potential open-pit mining shell for its Duquesne West gold project.

Globex Royalty Partner Radisson Mining Resources Continues Advancement of O’Brien Project

Radisson Mining Resources [RDS-V] envisions developing a significant gold mining complex at its O’Brien Project in Quebec. This expansive property area was assembled from several claims groups clustered along the Cadillac Break. Many years of successful exploration has outlined numerous gold deposits, including remnant resources from historic mining activity by previous operators along the main structural corridor. Radisson is now advancing metallurgical testing of sample material as exploration work continues.

Now, Radisson reported high-grade gold assays from drilling work completed at the Kewagama Gold Mine claims of the project. Multiple gold veins were intersected in this drilling program with attractive grades. This included a highlight interval of 15m with an average of 8.36 gpt gold, while several other smaller gold intervals were also encountered bearing up to 56 gpt in over 1 m the same drill hole.

Earlier in February, Radisson also reported promising metallurgical testing of sample material selected from the project area. Gold recoveries from 86 to 96 percent were achieved using processing testing compatible with the nearby Doyon-Westwood mill facility. This supports the outlook for extremely favorable recovery efficiency. The study also suggests the option to utilize toll-milling capacity at the nearby Doyon-Westwood mill would reduce capital spending to achieve processing for a producing mine. This potential scenario vastly improves the economic outlook for the project. Globex retains a 2% NSR for the Kewagama Gold Mine claims of the property, along with a 1% NSR for the New Alger claims.

Positive Metallurgical Test Results Reported by Royalty Partners Brunswick Exploration and Cerrado Gold

Brunswick Exploration [BRW-V] also presented positive metallurgical testing results for its Mirage Lithium project. Evaluation of drill core samples pulled from the Mirage project (Escale claims) confirmed that conventional processing technologies could recover up to 76% of the spodumene (a mineral of lithium) in a concentrate bearing 5.5% Li2O (an industry-standard concentrate grade). The sample material was also notable for its low iron content, yielding a high purity concentrate with no deleterious elements. This encouraging recovery efficiency with the potential to produce a clean, enriched spodumene concentrate presents an attractive economic scenario for the emerging lithium deposit. Brunswick plans to continue advancing this project with additional drilling work and further metallurgical testing planned for this year. Globex retains 3% GMR on the Mirage projects Escale claims.

In addition, Cerrado Gold [CERT-V] reported encouraging metallurgical test results for its Mont Sorcier iron ore project. The company ran sample material through a primary magnetic separation circuit to achieve magnetic concentrate. This material then went through a flotation processing stage to arrive at a final low silica concentrate grade of 67% iron, securing 72% recovery efficiency. The addition of a scavenger floatation circuit improved this performance further, to gain 83% magnetic iron recovery efficiency, achieving 68% total iron grade in concentrate.

Further testing is now underway, focusing on variability performance using 18 different samples that are representative of the Mont Sorcier ore body. A larger bulk-sample test will also be completed to investigate equipment sizing and optimum plant design. This data will also be incorporated into a feasibility study planned for release by Q1 2026. Each of these phases represents an important milestone along the path to a mine development decision. Globex would be a beneficiary of a producing mine at Mont Sorcier as it retains 1% GMR on the project.

Emperor Announces Encouraging Assay Results from Duquesne West Gold Project

Several rounds of assay results were reported last month by Emperor Metals [AUOZ-C] from the exploration drilling completed at the Duquesne West property. This comes on the heels of assays reported in December and January. In total, results for 19 drill holes were presented during this time, for more than 8100m of drilling work.

Multiple gold deposits and showings have now been outlined across a strike length extending 2.9 kms through the property. Many of the recently reported gold intervals were encountered outside of the previously established resource zones. Recent discoveries include extensive lower grade gold zones surrounding the previously established higher grade gold deposit areas. Emperor aspires to present an updated resource report for the project shortly. The additional gold values outlined serve to expand the conceptual open-pit mining shell at the margins and to depth. This builds the economic potential for the development of a new mine. Globex controls 50% ownership of Duparquet Partners, which receives cash and share option payments and retains a GMR on the project.

Conclusion

Investors are usually focused on exploration results as a measure of the potential success for a development prospect. While the effort to outline a large mineral deposit is an important accomplishment for a junior explorer, it is just one step along the path to advance a project. Thereafter, prospective companies must establish economic parameters and determine the performance of the deposit using various processing options to estimate the recovery efficiency for a proposed processing circuit. Metallurgical testing is thus a very important milestone for a serious project developer and favorable results can provide the foundation for feasibility studies to secure development funding.

The progress reported by Radisson, Brunswick and Cerrado through metallurgical testing is thus extremely important for the potential development ambitions of these individual companies and also represents a potential windfall of value creation for Globex. Meanwhile, successful exploration work presented by Emperor last month serves to expand the overall gold resources and upgrade the critical mass of the Duquesne West gold project. Each of these companies has achieved significant steps along the path to a mine development decision. Smallcaps Recommendation: BUY.

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