Kiboko Starts 12,450 Metre Drill Program on Globex Royalty Property
September 20 2022 - 9:54AM
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 inform shareholders
that Kiboko Gold Inc. (KIB-TSXV) has commenced drilling with two
rigs on the Fontana portion of their Harricana Project located in
Duverny township, Quebec (NS 32C12).
Globex maintains a 2%
Net Smelter Royalty on the Fontana area.
In Kiboko’s press release, they state the
following:
“The Phase 1 exploration program recommended in
the Harricana Technical Report (as defined herein) consists of
12,450 metres (“m”) of drilling at the Fontana area of the Project,
which is identified in Figure 2. The planned program, which is
subject to modification, consists of 3,945 m of orientated HQ
diamond drilling (18 holes) and 8,505 m of 5.5-inch
reverse-circulation (“RC”) drilling (64 holes). The Phase 1
exploration program is fully funded and is expected to be completed
in the first quarter of 2023.”
“Kiboko in their press release discuss the
“Exploration Targets” based upon an in-depth analysis of the
previous 79,565m of historical drilling and have provided maps to
facilitate an understanding of the past drill focus and gold
mineralization distribution. Click here to access the
Kiboko press release.
(Note: Production royalties are only payable
upon production.)
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 9LEI 529900XYUKGG3LF9PY95 |
For further information, contact: |
Jack Stoch, P.Geo., Acc.Dir.President & CEOGlobex Mining
Enterprises Inc.86, 14th StreetRouyn-Noranda, Quebec Canada J9X
2J1 |
Tel.: 819.797.5242Fax: 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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