Production Starts on Globex’s Gold Royalty Property
May 30 2023 - 9:15AM
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 IAMGOLD Corporation (“IAMGOLD”) have started open pit mining
and processing gold ore from the
Fayolle Property
located in Clericy township, Quebec, on which
Globex
retains a two percent (2%) Net Smelter Royalty (NSR).
Per information contained in the NI
43-101 Technical Report and Mineral Resource Estimate of the
Fayolle Gold Project published by Monarch Gold in 2019, the Fayolle
deposit has a Measured and Indicated Resource of 706,400 tonnes
grading 4.89 g/t Au based upon a gold price of $1,300 per
ounce.
IAMGOLD obtained a mining lease in March 2023
and immediately started mining activity. Ore is being treated at
the Westwood mill. Current 2023 production guidance is 10-15,000
ounces.
Globex is pleased that IAMGOLD has initiated
mining on the property which Globex believes has significant
additional exploration potential. In addition to the 2% NSR on the
Fayolle property, Globex has a 2% NSR on the adjoining Destorbelle
Gold Property to the west and owns 100 percent the Victoria Gold
property to the southeast and east both of which have gold
mineralization in drill holes and/or in surface exposures.
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:
819.797.1470info@globexmining.comwww.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.
55,265,336 shares issued and
outstanding
Globex Mining Enterprises (TG:G1MN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Globex Mining Enterprises (TG:G1MN)
Historical Stock Chart
From Jul 2023 to Jul 2024