ROUYN-NORANDA, QUEBEC--(Marketwired - Dec 16, 2014) - GLOBEX MINING ENTERPRISES INC. (GMX.TO)(FRANKFURT:G1M)(GLBXF) is pleased to inform shareholders that it has acquired 100% interest in over 22.6km of the gold localizing Casa Berardi Break. The property is located in Orvilliers and Montgolfier Townships Quebec, east and on strike of the Casa Berardi Gold Mine currently being mined by Hecla Mining Company. At December 31, 2013 Hecla reported: Proven and Probable Reserves of 9,039,000 tons at 0.15 oz/T Au - Measured and Indicated Resources of 11,881,000 tons at 0.12 oz/T Au and Inferred Resources of 3,726,000 tons at 0.16 oz/T Au. In addition, the property adjoins the Estrades Mine property where Cogitore Resources Inc. reported, in 2008 that a resource of 709,172 tonnes grading 9.8% Zn, 0.8% Cu, 5.0 g/t Au and 163 g/t Ag remains after mining of 174,946 tonnes grading 13.0% Zn, 1.1% Cu, 6.4 g/t Au and 172 g/t Ag from July 1990 to May 1991.
The advanced strategically located property is made up of 118 cells (5,911.76 ha/14,607.75 acres) and is subject to a 2% NSR. Previous exploration on the claims consisted principally of airborne geophysics and Diamond drilling. The most recent work was a Dighem airborne geophysical survey in 2005 followed by a 26 hole, 9,707m Diamond drill exploration program in 2007 which tested geophysical anomalies associated with the Casa Berardi deformation zone. Gold was intersected in a number of holes including 10.4 g/t Au over 1.0m, 6.44 g/t Au over 4.4m, 2.85 g/t Au over 7.1m.
In 2008, an additional drill program of 17 holes totalling 9,225m was completed intersecting among others, 1.88 g/t Au over 3.0m, 3.91 g/t Au over 1.0m, 4.40 g/t Au over 1.0m and 0.86 g/t Au over 8.0m.
The land package comes with over $2.5 million in assessment credits and over $3.5 million in technical data and an extensive core library.
Considering the large land position on the Casa Berardi Break and the size of the Hecla gold deposit already being mined to the west along this break, Globex will carefully review the wealth of technical data and core available for study and make a decision to either work the asset itself or seek an option partner.
This press release was written by Jack Stoch, P. 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) |
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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
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