ROUYN-NORANDA, Quebec, Feb. 04, 2025 (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 provide shareholders with brief updates as regards metallurgical test work related to two Globex royalty properties.
First, Radisson Mining Resources Inc. have announced initial milling test results regarding gold ore from their O'Brien Project which includes the Kewagama Gold Mine on which Globex holds a 2% Net Smelter Royalty and the New Alger (also called Thompson-Cadillac) Gold Mine on which Globex holds a 1% Net Smelter Royalty. Radisson reports gold recoveries of between 86 to 96 percent based upon a series of flow sheet options compatible with the Doyon-Westwood mill with minimal or modest additional capital. Thus, Radisson concludes that the Doyon-Westwood mill is a feasible processing option for the O'Brien ore. Radisson's press release may be accessed here.
Brunswick Exploration Inc. also announced metallurgical results from test work on drill core samples from the Mirage Project (Globex's Lac Escale 3% Gross Metal Royalty claims).
Preliminary results include the following highlights:
- Potential for best-in-class flow sheet consisting of crushing followed by dense media separation only with no need for flotation. Projects with similar flow sheet have consistently demonstrated lower milling operating cost to achieve industry standard concentrate grade of 5.5% Li2O.
- Preliminary recoveries of 76% producing a spodumene concentrate grading 5.5% Li2O for HLS testing and recoveries of 68.4% producing a spodumene concentrate grading 5.7% Li2O for DMS testing both at coarse grain size.
- Low iron concentration in both HLS and DMS concentrate indicative of high quality spodumene with low impurities. Current test work suggests no deleterious elements identified in either concentrate.
- Further test work is planned in 2025 to build upon this initial set of results with opportunities to increase DMS recoveries already identified.
With these positive test results under their belt, Brunswick plans further metallurgical work and is focused on continuing drill exploration to advance the project to a first resource estimate. Brunswick's press release may be accessed 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 | |
| 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
