Globex Options Bald Hill Antimony Property
September 10 2024 - 9:00AM
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 it has optioned its Bald Hill antimony property (Bald Hill)
located in Queens County, New Brunswick, to
Superior Mining
International Corp. (SUI-V). Under terms of the option
agreement,
Globex shall receive $680,000 in cash, and
2,000,000 shares over a four-year period and a minimum aggregate of
$4,600,000 will be spent on the property. Globex will retain a 3.5%
Gross Metal Royalty, 0,5% of which may be purchased for
$500,000. Click here to view Superior Mining International
Corp’s news release.
The property consisting of 26 claims, covers a
number of antimony occurrences, including previous trenching by
Rockport Mining Corp. which returned up to 43% Sb over 2.0
m and 2.90% Sb over 8.18 m. Shallow drilling by widely
spaced holes is reported to have extended the zone over a 450 m
strike length and to a depth of 300 m.
An NI 43-101 Technical Report in 2010 by
Conestoga-Rovers and Associates of Fredericton, New Brunswick, for
Rockport Mining Corp., authored by Heather MacDonald, MSc., P.Geo.
reported “Based upon 16 widely spaced drill holes totaling 3,554
metres and 609 assays, an antimony zone of 450 metres in length was
outlined including intersections of up to 11.7% Sb over 4.51 metres
core length.”
The report further states “The potential tonnage
and grade of a potential mineral deposit at the Bald Hill Property
which is the target of further exploration, is expressed as ranges
in the Table 6 below. The potential quantity and grade is
conceptual in nature as there has been insufficient exploration to
define a mineral resource and it is uncertain if further
exploration will result in the target being delineated as a mineral
resource.”
Table 6Potential Quantity and Grade
Ranges |
|
|
|
ZONE |
METRIC TONNES |
GRADE (Sb %) |
Main Zone |
700,000 to 900,000 |
4.33% to 5.40% |
Parallel Zone |
25,000 to 100,000 |
2.13% to 3.19% |
Total: |
725,000 to 1,000,000 |
4.11% to 5.32% |
A subsequent NI 43-101 report titled: National
Instrument 43-101 Technical Report: Bald Hill Antimony Project
(claim group 5061) Southern New-Brunswick, Canada, NTS Map Sheet
21G/09 and 21H/12, Prepared for Tri-Star Antimony Canada Inc. by
Peter Banks, B.Sc., P.Geo. and John Langton, M.Sc., P.Geo. of MRB
& Associates, October 28th, 2014 dealt with addition
exploration work and conclusions derived from the work up to that
date as reported in brief under “Interpretations and Conclusions”
and reproduced below.
“Rockport’s drilling on the Bald Hill main grid
has confirmed the Sb mineralization over a significant area of
approximately 700 m on surface and to 300 m depth.
Surface mineralization and soil geochemical anomalies indicate that
the mineralization extends for at least 1.5 km, along strike from
the delineated mineralized zones. The 2014 trenching program,
centered approximately 1.0 km along strike to the southeast from
the main Bald Hill occurrences, exposed new antimony mineralization
grading 9.04% Sb over 2.60 metres.”
Globex regards the property as highly prospective.
The recent termination of antimony exports by China, the world’s
largest exporter, bodes well for the price going forward.
“In addition to the on-site exploration
programs, preliminary processing and metallurgical test-work of
Bald Hill lithological drill-core and bulk samples was carried out.
This work comprised bulk mineralogy, basic chemical profiling,
textural features of the ore minerals and preliminary analysis of
liberation characteristics and amenability of the ore to gravity
concentration and/or flotation, preliminary ore-characterization,
mineralogical and chemical profiling, and optical ore
examinations.”
“The work completed by Rockport on the
Bald Hill Project substantiates the occurrence of a potential
resource of economically interesting antimony mineralization. The
Project is a valid exploration target that remains largely untested
with respect to its full dimensions and its regional structural
relationships.”
In 2021, Globex undertook a small drill program
which returned the following results:
Hole
BH21-25 |
1.34% Sb over 3.6 m starting at 310.5 m |
Hole BH21-27 |
2.67% Sb over 2.7 m starting at 112.2 m and |
|
1.73% Sb over 3.3 m starting at 124.7 m |
Hole BH21-28 |
4.71% Sb over 10.2 m starting at 109.5 m |
|
|
Globex regards this property as highly prospective and the
recent termination of antimony exports by China, the largest
exporter, bodes well for the price going forward.
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 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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