Globex Property Ideally Situated
December 09 2022 - 9:41AM
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 comment upon the
press release yesterday by Azimut Exploration (AZM-TSXV) and KGHM
International (KGHM), a large Polish mining concern, regarding the
option by KGHM of Azimut’s Kukamas gold/copper property in the
James Bay area of Quebec.
Under the agreement, KGHM can earn up to 70%
interest in the property by paying Azimut $475,000 in cash payments
and undertaking $6,400,000 in exploration over six years (click
here to read Azimut press release).
The Kukamas property consists of 2 large claim
blocks along the highly prospective Yasinski greenstone belt within
the La Grande Subprovince of the Archean Superior Province of
Quebec. The two claim blocks are separated by a block of 25
claims owned 100% by Globex which are the location of numerous
occurrences of gold, copper, silver and iron assaying as high as 36
g/t Au, 62 g/t Ag, 10.96% Cu in grab and trench sampling
(see map below). In addition, nearby to the northeast of this claim
block, an additional 3 claims enclose two other occurrences of gold
and silver where grab and trench samples have returned samples of
up to 47.2 g/t Au and 13.6 g/t Ag. (Source
Sigeom-Quebec).
Note: |
Grab and trench Grab samples are selective by nature and are
unlikely to be representative of average grades. |
|
|
Globex looks forward to ongoing exploration by
Azimut and KGHM on their Kukamas project. Globex intends to
undertake exploration on its claim blocks next summer if we don’t
option the asset per our business model before that time.
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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b2e11a95-99ab-453b-b6a2-f3a3d5915eff
https://www.globenewswire.com/NewsRoom/AttachmentNg/be2165e8-c476-4106-b303-0b33a75f7a13
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