ROUYN-NORANDA, Quebec, Dec. 18, 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 assay results from two additional drill holes on our 100% owned Ironwood gold zone located 2.6 km east of the town of Cadillac, Quebec.
Hole SIW-24-04 traversed the center of the mineralized zone at a vertical depth of 173 m and returned an exceptional true width of 23.22 metres grading 23.82 g/t Au.
Hole SIW-24-05 near the eastern limit of the mineralized zone at a vertical depth of 224 m intersected a true width of 6.65 metres grading 5.69 g/t Au.
| Hole Number | From (m) | To (m) | Au (g/t) | True Width (m) | True Width (ft) | Vertical Depth (m) |
| SIW-24-04 | 209.4 | 239.4 | 23.82 | 23.22 | 76.18 | 173 |
| Including core lengths | 209.4 | 211.4 | 10.05 | |||
| 213.9 | 239.4 | 27.23 | ||||
| SIW-24-05 | 276.8 | 285.8 | 5.69 | 6.65 | 21.82 | 224 |
| Including core lengths | 276.9 | 278.9 | 3.62 | |||
| 280.6 | 285.8 | 8.38 |
Both drill holes intersected the silicified zone of mainly pyrite, minor pyrrhotite and arsenopyrite in what is believed to be a sulphide replacement of the fold nose of an oxide iron horizon.
Globex has completed 19 drill holes designed to outline the shape and give greater confidence as to the economic potential, the grade and mining methods applicable to the deposit.
Lab information
The samples were crushed to a particle size of 70% passing through a two-millimeter sieve, and then a 500-gram portion was taken for gold analysis by gamma ray (photon assay). According to MSALABS' internal procedure, blank samples and certified reference materials are systematically inserted into the analysis sequence. Globex procedures also used blank and duplicate sample as well as certified reference materials. MSALABS operates several laboratories worldwide and holds ISO-17025 accreditation for numerous metal determination methods, including the photon assay method.
Ironwood Mineralized Core - Hole SIW-24-04
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 with technical input from Pierre Riopel, P.Geo.
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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 SEDARplus.ca.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d00b48ac-d1c7-4b67-b408-0ffbe4640668
