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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Globex Mining Enterprises Inc New | TSX:GMX | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.00 | 0.99 | 1.00 | 0 | 01:00:00 |
Furthermore, Globex acquired directly to the north of the large cell block, by staking, three cells (158.2 ha) covering a portion of a priority exploration target, also within the Patwon regional strike, which is described in a press release dated January 15, 2020 as “project best target, a possible gold-silver-copper VMS (volcanic massive sulphide) mineralized system” based upon soil anomalies coupled with centimeter to metre sericitic and silicified floats with 2-10% sulphides and quartz stringers with up to 6.72 g/t Au and untested geophysical anomalies (See Opinaca Project Map below).
In addition to this acquisition which places Globex solidly within the regional gold discovery play, Globex recently acquired two other projects in the James Bay Area. Nineteen (19) cells were staked covering a series of surface showings of high grade gold and copper in NTS 33G12 henceforth called the Tyrone Project within Azimut’s large Kakamas cell block where Azimut is following up upon strong copper/arsenic/antimony Lake-bottom sediment anomalies (See Tyrone Project Map below).
Surface sampling by several companies have returned assays such as the following from grab and channel sampling:
Showing | Assays (assays > 3 g/t Au highlighted) | Sample Type |
Chiskamish Est | 12.15 g/t Au, 3.9 g/t Ag3.8 g/t Au over 2 m incl. 6.9 g/t Au over 1 m | GrabChannel |
Chiskamish Ouest | 6.4 g/t Au 1.3 g/t Au over 0.5 m; 0.4 g/t Au over 1 m 1.8 g/t Au and 3.1% As | Grab Channel Grab |
Lac Chiskamish | 36% Fe over 212 m38.8% Fe over 175 m40.27% Fe (39.42% Fe2O3 and 16.34% FeO) | Chip |
Zone Ouest-Hemlo | 2.17 g/t Au; 1.43 g/t Au | Grab |
Sandwich | 36 g/t Au, 71 g/t Ag4.4 g/t Au over 1 m | Grab Channel |
Chiskamish extension-Est | 13.1 g/t Au, 4.9 g/t Ag1.5 g/t Au; 1.9 g/t Au over 1 m2.5 g/t Au over 1 m | GrabChannel Channel |
PC | 7.32 g/t Au, 1.1 g/t Ag | Grab |
Baie Nord 3 | 10.2 g/t Au | Grab |
Brèche 167 | 0.70 g/t Au, 19 g/t Ag, 2.4% Cu, 0.59 g/t Au, 8.1 g/t Ag, 1.78% Cu, | Grab |
Mayappo-Sud | 3.3 g/t Au1.4 g/t Au over 3 m incl. 3.5 g/t Au over 1 m | GrabChannel |
Zone PH | 13.8 g/t Au, 17.2 g/t Ag, 0.64% Cu | Grab |
Flocon Blanc-Perdrix | 3.35 g/t Au, 36.4 g/t Ag and 2.18% Cu7.65 g/t Au, 62 g/t Ag and 10.96% Cu1.92 g/t Au, 38.1 g/t Ag and 6.59% Cu | Grab |
Tyrone 1 | 12.2 g/t Au and 4.34% Cu4.7 g/t Au, 49 g/t Ag, 7.4% Cu14.1 g/t Au, 11 g/t Ag, 0.2% Cu | Grab |
Tyrone 2 | 0.5 g/t Au, 18 g/t Ag, and 6.4% Cu4.4 g/t Au, 108 g/t Ag and 1.2% CuDDH : 0.6 g/t Au, 8.3 g/t Ag and 1.34% Cu over 3 m | GrabGrabDiamond Drill Hole |
Tyrone 3 | 0.6 g/t Au, 7.9 g/t Ag, 0.1% Cu | Grab |
Tyrone 4 | 2 g/t Au, 5.4 g/t Ag, 0.5% Cu and DDH : 1.13 g/t Au over 1.5 m | Grab Diamond Drill Hole |
Tyrone 5 | 3.1 g/t Au, 17.5 g/t Ag and 0.95% Cu4.3 g/t Au, 29 g/t Ag and 1.98% Cu1.9 g/t Au, 16 g/t Ag and 0.9% Cu1.4 g/t Au, 20 g/t Ag and 0.5% Cu | Grab |
*Grab samples are selective by nature and are unlikely to be representative of average grades.
A number of follow-up drill holes failed to produce results similar to the surface sampling. Globex will compile and analyze the historical data in order to determine what the next step in exploration should be.
The second project Globex staked is 4 cells covering the H1 and H2 kimberlite bodies 70 km south of the Renard diamond mine in NTS 33A01 north of Chibougamau, Quebec. Previous limited drilling outlined a number of kimberlite bodies on the property including one which returned a micro-diamond. Globex will have the mineralogical data reviewed in order to evaluate the previous work in light of new approaches to diamond exploration. At the same time, Globex will reassess further exploration on its Lake Savignac diamond project.
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 9LEI 529900XYUKGG3LF9PY95 | |
For further information, contact: | |
Jack Stoch, P.Geo., Acc.Dir.President & CEOGlobex Mining Enterprises Inc.86, 14th StreetRouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242Fax: 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
Opinaca Project Map: https://www.globenewswire.com/NewsRoom/AttachmentNg/e424c1b6-a8b2-4684-bae9-a7c0dbbb95b3 Tyrone Project Map: https://www.globenewswire.com/NewsRoom/AttachmentNg/df3867c5-d574-4f6e-8c30-119cf65badbd
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