ROUYN-NORANDA, QUÉBEC–(Marketwired – Dec. 6, 2017) – GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to report the results from a ten drill hole program of short holes on our 100% owned Francoeur/Arntfield gold property located approximately 18 km west of Rouyn-Noranda, Quebec.
The drill program was designed so as to follow up upon the gold bearing shear south of the “Main Shear” (the Francoeur-Wasa Shear). The shear termed the “South Shear” was exposed by stripping. Channel sampling returned up to 9.52 g/t Au over a width of 7.1 m including 15.4 g/t Au over 4.1 m (See press release dated September 25, 2017) and 4.25 m g/t Au over 3.75 m.
Subsequent stripping to the east exposed an additional 15 metres of rock which revealed numerous gold values in channel samples including 4.31 g/t Au over 1.65 m before passing below overburden.
The better drill hole assays in the South Shear are the following:
|Hole #||Au g/t||True Width (m)|
Several holes were also positioned so as to also intersect the Main Shear which roughly parallels the South Shear.
The better assays in the Main Shear are the following:
|Hole #||Au g/t||True Width (m)|
Channel sampling in an area stripped by Globex above Hole FS 17-45 returned 8.07 g/t Au over 2 m before going under thick overburden. An area stripped by Globex half way between holes FS-17-45 and FS-17-42 (114 m apart) returned 5.36 g/t Au over 4.2 m in channel samples and a nearby old trench returned grab sample assays of 9.53 g/t Au, 10.18 g/t Au, 10.15 g/t Au and 6.79 g/t Au. (Grab samples are selective by nature and are unlikely to be representative of average grades.)
See drill hole location and channel sampling map at www.globexmining.com, Properties, Abitibi Greenstone Belt, Francoeur-Arntfield Mines, Press Release December 6, 2017.
The drilling and stripping provided mixed results and suggest that the geology may be more complex than previously thought with abrupt changes in dip and pinching and swelling. The South Shear Zone was intersected in all but 3 holes with variable widths and gold grades. The gold values seem at first glance to be directly associated with the pyrite content. More pyrite, more gold. The Main Shear in the area drilled and stripped is the surface expression of the Francoeur #1 Zone little of which has been mined.
Globex is merging the new drill and surface sampling data with historical data in order to better understand the strike, dip and plunge of the various higher grade gold zones.
The current exploration program only focused on a very small portion of the property and a particular target. Much more work must be undertaken on these targets to define them to depth and along strike. We continue to compile the voluminous historical data on multiple gold zones and mineralized areas.
Globex’s NQ drill core sampling including the quality assurance/quality control program is performed internally by Globex personnel under the immediate supervision of Globex’s project geologist. Cut half core samples prepared at Globex’s core sampling facility in Rouyn-Noranda, are tagged and sealed in plastic bags and are delivered directly by Globex personnel to Expert Laboratories Inc, located at 127 Boulevard Industriel, Rouyn-Noranda. The laboratory conducts all aspects of preparation including drying and crushing 90% of the sample passing a minus 10 mesh screen size and the pulverization of a 300 gram sub sample 90% passing a minus 200 mesh size with the remaining crushed reject material being retained for storage. For gold assaying, a 29.16 gram sub-sample of the pulp (1 assay-ton) is taken, fused following the standard procedures used in a fire assay method. The gold content of all samples is determined using atomic Absorption Spectroscopy. Samples containing greater than 1gpt gold are subjected to a re-assay whereby the gold content is determined using a gravimetric fire assay method.
Analytical accuracy and precision are monitored by the routine insertion of blanks, duplicates and reference accredited low/high grade standards at 20 sample intervals in Globex’s sample stream .This is in addition to the routine blanks, duplicates (gold, silver, copper and zinc) and accredited standards insertion by Expert Laboratories during the course of the assaying process.
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
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.
51,053,577 shares issued and outstanding
President & CEO
Globex Mining Enterprises Inc.