Globex Mining Enterprises Inc. (TSX:GMX)(GLBXF) announced in a press release today that it has acquired by staking 24 unpatented lode claims totaling a surface area of almost 500 acres in Mohave County in Arizona.

The newly acquired Salt Spring project is located at the northernmost margin of the historic Gold Basin Mining District. This area, rich in history and potential, was staked to cover a large number of gold-bearing quartz veins, small historic mine workings and prospects. It was the site of a gold discovery in the early 1870s.

The gold is found in veins and crack-like structures throughout the rock. Geologists have identified three different types of gold deposits based on the metals found with the gold: gold only, gold with copper, and gold with copper, lead, and silver in lesser quantities. The gold-copper and gold-copper-lead deposits are farther away from the intrusion than the gold-only deposits, suggesting they formed at a different time.

Globex Mining is a diversified North American portfolio of mid-stage exploration, development and royalty properties containing precious metals, base metals, specialty metals and minerals and industrial minerals and compounds. Canadian shares were trading up in early afternoon trade at $0.83.

Copyright © 2024 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.