| Risk and valuation analysis of the Fabie Bay and Magusi River Project |
| Status Risk : Advanced discovery |
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| Title(s) of the Fabie Bay and Magusi River Project |
 | Globex Mining Enterprises Inc.
Royalty: 2% |
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| Title | Company Profile | All Projects | Company website | Company project page |
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| On April 26, 2006, Globex optioned the properties to First Metals Inc. in consideration of 1 million dollars, 10% of the issued capital of First Metals, a 2% Net Metal Royalty and a 10% Net Profit Royalty. First Metals have commenced permitting with the intention of achieving production as soon as possible. |
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| Location of the Fabie Bay and Magusi River Project |
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The property is accessible by an all weather gravel road which branches off highway 101, north of Rouyn-Noranda in Dufresnoy Township and lead directly to both deposits. The claims are roughly 50 km from the Xstrata Horne copper smelter.
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| History of the Fabie Bay and Magusi River Project |
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Prospecting in the Lac Duparquet area has been intermittent and sporadic, beginning in 1948. In 1948, Palenno Gold Mine drilled 21 holes on a gold prospect located one half mile north of the present property but this work apparently failed to outli more...
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| Geology of the Fabie Bay and Magusi River Project |
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The Fabie Bay copper deposit is enclosed in a sequence of overturned, but relatively undeformed magic pillow lavas, breccias and tuffs.
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