ROUYN-NORANDA, Quebec, Oct. 02, 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 report drill results announced by Consolidated Lithium Metals Inc. (CLM-TSXV) on Globex’s Fiedmont (East Vallée) royalty claims located along strike to the southeast of Sayona’s North American Lithium Mine near Barraute, Quebec. Globex retains a 2% NSR on the claims.
The drill program consisted of 12 holes testing the southeast extension of the Core Pegmatite, which has previously been defined over a 4.25 km strike length. Ten (10) of the drill holes were drilled on the Globex royalty claims (holes EV 24-001 to EV 24-009 inclusive and hole EV 24-012).
Intersections include:
Table 1 – Lithium Intersections from the 2024 East Vallée Drill Program
| Hole | From (m) | To. (m) | Length (m)* | Li2O (%) |
| EV-24-002 | 99.25 | 108.50 | 9.25 | 0.754 |
| 101.00 | 105.00 | 4.00 | 1.184 | |
| EV-24-007 | 181.85 | 182.90 | 1.05 | 0.308 |
| EV-24-008 | 176.30 | 177.45 | 1.15 | 0.310 |
| EV-24-008 | 179.00 | 179.60 | 0.60 | 0.347 |
| EV-24-009 | 102.95 | 103.60 | 0.65 | 0.293 |
| * True widths of the mineralization reported cannot be determined at this time. Cut-off grades for compositing was 0.25% Li2O | ||||
Full details of the drill program are available in the Consolidated Lithium Metals Inc. press release available here.
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) |
| 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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