January 18, 2017 09:30 ET
ROUYN-NORANDA, QUEBEC--(Marketwired - Jan. 18, 2017) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) is please to inform shareholders of the results of a drill hole on our Francoeur Gold Mine Property, 25 km west of Rouyn-Noranda, Quebec.
Drill hole FS-16-35 intersected 4.64 gpt Au over 8 m from 99 to 107 m including 8.01 gpt Au over 4 m from 100 to 104 m (0.14 oz/t Au over 26.25 feet between 324.8 feet and 351.1 feet including 0.23 oz/t Au over 13.12 feet from 328.1 to 341.2 feet). The true width is approximated 55% of the intersection width. The gold intersection occurs at a vertical depth of approximately 90 m (295 ft) below surface in altered and fractured diorite and mafic volcanics with carbonate/silica/hematite alteration.
A second series of assays was done to define a potential lower grade gold envelope around the intersection described above. The results from this sampling have now caused Globex to split all the remaining core. Once all the assay results are received, Globex will issue a second press release dealing with the wider low grade zone which may have economic significance as a potential target for open pit mining.
Assaying was performed by Accurassay located in Rouyn-Noranda, Quebec using the standard fire assay method. Details of the assay methods are available on Globex's website at www.globexmining.com
The core was logged and the processing supervised by Benjamin Mougin, P.Geo. 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.
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
Globex Mining Enterprises Inc.Jack Stoch, P.Geo., Acc.Dir.President & CEO819.797.5242819.797.1470 (FAX)firstname.lastname@example.org
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