ROUYN-NORANDA, Quebec, Jan. 16, 2019 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX International) is pleased to inform shareholders that line cutting has been completed on the new 450 Gold Zone which is located on Globex’s Francoeur/Arntfield Mines property, west of Rouyn-Noranda, Quebec in Beauchastel Township (32D03). A contract has been issued to cover the 15 km grid with a detailed induced polarization survey and a recently completed magnetometer survey has been extended. The surveys will, in part, cover a portion of the new claims recently acquired south of and adjoining the 450 Gold Zone. The acquisition thereof as announced in a press release on December 18, 2018.
Shareholders will recall that on October 16, 2018, Globex announced in a press release the results of stripping and channel sampling on the 450 Gold Zone which returned among others the following results:
| 7.04 g/t Au over 9.50 m (31.2 feet) | Channel potential open to North |
| 6.68 g/t Au over 5.40 m (17.7 feet) | Channel potential open to South |
| 2.08 g/t Au over 4.90 m (16.1 feet) | |
| 4.34 g/t Au over 5.05 m (16.6 feet) | Channel potential open to North |
A separate area approximately 200 metres to the east retained the following:
| 4.47 g/t Au over 3.50 m (11.5 feet) | Channel potential open to North |
| 3.77 g/t Au over 1.85 m (6.1 feet) |
Depending upon the IP and Mag survey results, Globex intends to drill currently defined target areas this winter and potentially new targets defined by the geophysical surveys, in combination with Globex’s technical data acquired from previous Globex mapping, stripping and channel sampling.
Other news
In other news, a ground magnetometer survey has been started on our large Bräunsdorf, Saxony Germany property. An additional drone magnetometer survey will commence shortly dependent on weather conditions and an induced polarization survey is planned for mid-February again, dependent upon weather conditions.
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 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
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