Globex Acquires Standard Gold Property

2019-07-23 / @nasdaq

 

ROUYN-NORANDA, Quebec, July 23, 2019 (GLOBE NEWSWIRE) -- GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that it has acquired 100% interest in the Standard Gold Property located in Duverny Township, Quebec (NTS 32C12) free and clear of any and all potential obligations, encumbrances or liabilities in exchange for 160,000 Globex common shares, subject to the normal four month hold period.

The Standard Gold property has been explored by various drill programs particularly in the area of the 389 metre (1,275 ft) deep shaft from which a number of small bulk samples have been mined. Drifting occurred on 8 levels and totaled greater than 2,430 m (8,000 ft).

Intersections of 22.3 g/t Au over 2m, 7.9 g/t Au over 1.5 m, 90.3 g/t Au over 1.5 m, 19.05 g/t Au over 1 m, 7.06 g/t Au over 1 m and 7.05 g/t Au over 8 m are reported as well as numerous narrow gold intersections including, for example, 15.3 g/t Au over 0.5 m, 19.2 g/t Au over 0.2 m, 39.9 g/t Au over 0.4 m, 4.8 g/t Au over 0.9 m, 10.3 g/t Au over 0.6 m, 122.8 g/t Au over 0.4 m, 7.5 g/t Au over 0.9 m, 38.7 g/t Au over 0.5 m and 110.4 g/t Au over 0.2 m to list a few. Drilling in 1983 established the presence of gold mineralization below the shaft and drifts to a vertical depth of 610 m (2,000 ft). (Source: Sigeom Files). A number of historical resource calculations have been done over the years combining diamond drill intersections with underground chip sampling and a number of small bulk samples. The results may be found in Quebec government files in the Sigeom data system.

Mineralization consists of native gold associated with pyrite, chalcopyrite and sphalerite disseminated in quartz veins within a linear body of diorite within volcanic rocks. Much of the gold localizing linear diorite body is under explored.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

We Seek Safe Harbour.  Foreign Private Issuer 12g3 – 2(b)
 CUSIP Number  379900 50 9
LEI 529900XYUKGG3LF9PY95
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada  J9X 2J1

Tel.:  819.797.5242
Fax:  819.797.1470
 info@globexmining.com
 www.globexmining.com

Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com

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