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Published on December 04, 2024 • 3 minutes read
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ROUYN-NORANDA, Quebec, Dec. 04, 2024 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchthe winds
and GLBXF – OTCQX International in the US) is pleased to present assays from the first four (4) holes of the Globex 100% gold deposit located in Cadillac Township, Quebec, 2.6 kilometers east of the town of Cadillac.
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Previous extensive drilling revealed gold deposits ranging from 30 meters to ± 225 vertical meters with Indicated resource of 243,200 tonnes grading 17.26 g/t Au. 2008 Technical Report NI 43-101 by Consulting geologist and Qualified Person, Reno Pressacco, M.Sc. (A), P.Geo. entitled “Technical Report on Mineral Resource Estimation, Ironwood Project, Cadillac Township, Quebec (32D01).
The current drilling program consists of at least 17 holes designed as fill holes and, also, directed and determining the outer boundaries of the deposit. Despite the small size of the deposit, it is thought that it depends on determining the exact distance and the general condition of the body, various possible mining methods may be considered as local mining.
The relevant details about the first four holes are given below.
| Port Number | From (m) | to (m) | Total length |
The truth Width |
Grade g/t Au | To comment |
| NIW-24-01 | 9.1 | 11 | 1.9 m | 1.3 | 13.56 | A hole designed to cut through the area near the sub outcrop at a vertical depth of approximately 8 m. |
| SIW-24-01 | 178.6 | 182 | 3.4 m | 2.62 | 21.78 | A hole designed to locate the eastern end at a vertical depth of approximately 142 m. |
| SIW-24-02 | 163 | 166 | 3.0 m | 2.15 | 3.14 | A hole designed to find the western limit at a vertical depth of about 123 m. |
| SIW-24-03 | 204.7 | 219.8 | 15.1 m | 11.08 | 16.63 | A hole designed to approach the western end at a vertical depth of about 165 m. |
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Globex has currently completed 14 holes. Core logging and core separation is ongoing and samples are currently being sent to MSALABS, 13 rue Turgeon, Val-d’Or, Qc, J9P 0A2. Globex has intersected the Ironwood Gold Zone in every hole to date.
Lab information
The samples were crushed to a particle size of 70% passing through a two millimeter sieve, and a portion of 500 grams was taken for gold analysis by gamma ray (photon assay). According to MSALABS’s internal procedure, blank samples and certified reference materials are systematically introduced into the analysis process. Globex procedures also used blank and duplicate samples and certified reference materials. MSALABS operates several laboratories around the world and holds ISO-17025 accreditation for many metal determination methods, including the photon assay method.
This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (QP) under NI 43-101 with technical input from Pierre Riopel, P.Geo.
| We want Safe Harbor. | Independent Foreign Issuer 12g3 – 2(b) |
| CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95 |
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| For more information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President and CEO Globex Mining Enterprises Inc. 86, 14th The road Rouyn-Noranda, Quebec Canada J9X 2J1 |
Phone: 819.797.5242 Fax: 819.797.1470 info@globexmining.com www.globexmining.com |
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Forward-looking statements: Except for historical information, this news release may contain “forward-looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that could cause actual results, level of activity and performance to differ materially from Globex Mining Enterprises Inc.’s expectations and projections. (“Globex”). No assurance can be given that any of the events anticipated by the forward-looking information will or will occur, or if any of them do, what benefits Globex will receive from them. A more detailed discussion of risks is available in the “Annual Information Form” filed by Globex on SEDARplus.ca
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