Globex stakes two phlogopite properties in Quebec

Globex Mining Enterprises (TSE:GMX) (OTCQX:GLBXF)  said Wednesday it has acquired a 100% interest in two suzorite deposits in Quebec through staking.
The two deposits, called the Lamy and Siscoe Zones, have as their principal component, phlogopite, used in polymers where extra rigidity is required beyong what can be provided by talc. It is also used as an insulating material, and for fireproofing.
The acquisition of these properties is an extension to the company's planned penetration into markets served by talc, which it plans to produce from its huge Timmins, Ontario deposit, Globex said.
Globex is in the final stages of preparing a pre-feasibility study on its Timmins talc-magnesite project, which is scheduled to be delivered by the end of September.
The larger Lamy deposit is next to a railway line and siding, which will allow direct transport of pre-processed material to the company's proposed talc milling facility at Timmins, significantly reducing capital and operating costs.
The Lamy deposit is reported to have good quality phlogopite, with a magnesium to iron ratio of 2.78, and no fibrous material.  The zone is said to measure at least 725 metres long and averages 23 metres wide, with potential to be increased in size by drilling.
According to Globex, the area staked by the company could contain as much as 5 to 6 million tonnes of high grade micaceous material.  The Lamy deposit is exposed on surface, and has only been explored to a shallow depth, with it remaining open along strike.
Globex has also acquired the Siscoe deposit, approximately 18.5 kilometres to the east in Suzor Township, where R.A. Marleau reported a suzorite deposit with historical resources of 1.3 million tonnes, grading 60% phlogopite.