ROUYN-NORANDA, Quebec, April 25, 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 Exchanges and GLBXF – OTCQX International in the US) is pleased to update shareholders regarding drilling by Brunswick Exploration Inc. (BRW-TSXV, BRWXF-OTCQB) on Globex’s royalty property in the James Bay area of Quebec.
Drilling at the Mirage (Lac Escale) property by Brunswick continues to intersect wide widths of lithium bearing mineralization in their drill campaign focused on the Central Zone within Globex’s large royalty claim package:
| 1.59% Li2O over 58.1 metres in Hole MR-23-49 | ||
| 1.71% Li2O over 31.6 metres in Hole MR-23-60 | ||
| 1.03% Li2O over 18.6 metres also in Hole MR-23-60 | ||
| 0.93% Li2O over 12.0 metres also in Hole MR-23-60 |
Thirty-five drill holes were completed prioritizing near surface lithium mineralization and assays are pending for a further thirty-two drill holes.
Click here to access Brunswick’s press release including maps and sections.
Globex retains a 3% Gross Metal Royalty of which 1% may be purchased for $1,000,000 by Brunswick and at the fifth year following the coming into force of the agreement (already reached), Brunswick will commence to pay Globex a $100,000 per year advance royalty.
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 |
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| 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 [email protected] 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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