10:22 AM EST, 12/11/2024 (MT Newswires) -- Globex Mining Enterprises ( GLBXF ) was at last look modestly higher, but closer to 52 week highs, Wednesday after it reported assay results from three drill holes as part of its infill drill program at the Ironwood gold project in Cadillac Township, Quebec.

A statement noted the results were from "shallow holes positioned to establish the near-surface boundaries of the mineralized envelope."

"As in our recent press release of December 4th, we continue to intersect significant gold mineralization in a pyrite, pyrrhotite arsenopyrite sulphide replacement zone at the nose of an oxide iron formation fold at depths between 9 m and approximately 225 m vertical," Globex said in the statement.

Drill results to date indicate that the mineralized envelope widens to depth and toward the center of the orebody, added Globex. The company said it has currently completed 18 holes and reported seven mainly boundary drill holes. Core logging and core sawing are continuing, and samples will be looked at.

Shares of the company near a 52-week high of $1.18, last seen at $1.14 on the Toronto Stock Exchange.

Price: 1.14, Change: +0.02, Percent Change: +1.79