Globex Mining releases Virgin Mountain sampling results
Globex holds a diversified mineral property bank comprising over 260 assets and more than 100 royalties.
The most recent news (March 19, 2026) reports that option partner Lodestar Minerals has confirmed significant high-value Heavy Rare Earth Oxide (HREO) mineralization at the Virgin Mountain property in Arizona. Assay results from five chip samples returned Total Rare Earth Oxides (TREO) up to 3.73%. Crucially, the mineralogy is confirmed as xenotime-dominant, which typically contains high concentrations of dysprosium, terbium, and lutetium—metals critical to the U.S. supply chain. HREO distribution in the samples ranged from 48% to 64% of the total REO content.
This news is Material - Positive. While the sample size is small (5 samples), the confirmation of xenotime is a technical "de-risking" milestone. Most rare earth projects struggle with metallurgy or low-value light rare earth dominance (lanthanum/cerium); however, Virgin Mountain is showing a high proportion of high-value heavy rare earths. - Financial Impact: Under the option agreement with Arizona Mountain Pass (associated with Lodestar), Globex stands to receive $800k cash, $600k in shares, and retains a 3% Gross Metal Royalty (GMR). - Strategic Value: This validates Globex’s "Property Bank" model—acquiring distressed or overlooked assets and letting partners fund the expensive exploration. The 5 km-long structure suggests significant scale potential for a new HREO district in the US.
Globex is a "Project Generator." It acquires mineral properties, performs basic mapping/sampling, and options them to third parties for cash, shares, and a royalty. - Flagship Project (Internal): Rouyn-Merger Gold (100% owned), where recent drilling returned 26.4m of 3.47 g/t Au. - Flagship Royalty: Lac Escale (Mirage) Lithium (3% GMR) operated by Brunswick Exploration, featuring a 52.2 Mt maiden resource.