Mineral explorer Globex Mining Enterprises (TSE:GMX) (OTC:GLBXF) said Thursday that Savant Explorations (CVE: SVT) has begun drilling 1,400 metres to test near surface gold mineralization discovered at the Parbec project in last year's program.
The Parbec project straddles along the Cadillac fault in Quebec, 20 km southeast of the Cadillac Gold camp, and five kilometres west from the Malartic Gold camp where Osisko Mining runs the large open pit Malartic gold mine.
In January, Savant signed an option deal to acquire a 100% stake in Parbec under a four year agreement with Globex.
Quebec-based Globex said target areas for the current drill program are holes Par-10-05 and Par-10-08, which intersected 1.82 g/t gold over 38.9 metres and 1.37 g/t gold over 28.6 metres, respectively.
Results from the 2011 drill campaign will be released after findings have been collected and analyzed.
In other news, Globex said that Plato Gold (CVE:PGC) announced yesterday preliminary results from a 17 hole drill program on the Nordeau East Gold Zone in Quebec, which is currently under option from Globex.Results, while incomplete, showed numerous significant gold intersections, Globex added.