ROUYN-NORANDA, QUÉBEC--(Marketwired - Jan. 20, 2017) - NATAN RESOURCES LTD (TSX VENTURE:NRL)(FRANKFURT:N071) and GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) are pleased to provide shareholders with an update as regards channel sampling undertaken on the Montalembert Gold Property located near Waswanipi, Quebec.
In October 2016, a total of 208 channel samples were collected ranging from 0.5 m to 1.35 m in length, averaging 0.97 metre.
- 122 samples were taken in 25 channel lines on the Number 2 vein system with channels being spaced 3 metres apart;
- 64 samples were taken in 16 channel lines on the Galena vein system with channels being spaced 10 metres apart;
- 11 samples were taken on a stripped area between the Number 2 vein system and the Galena vein system as were 11 samples on a similar stripped area 60 m to the south.
The mineralization on the Montalembert gold property consists of coarse free gold in or near quartz vein systems. The veins were stripped and power washed to facilitate detailed mapping and subsequent channel sampling. Channel sampling of free gold occurrences is a hit or miss process due to the erratic distribution of coarse free gold in quartz vein systems.
Numerous anomalous gold values were received from the vein systems with the best assays listed below.
Vein System # 2
Four out of five channel samples over a 12 m strike length assayed as follows:
||July 2016 channel not analysed for silver
Previous grab samples in the area assayed 84.04 gpt Au (ID# D107317), 36.26 gpt Au (ID# D107315) and 17.26 gpt Au (ID# D107311).
Grab sample, ID# D107447, taken 27 m north of the grouping of gold values reported above, assayed 64.48 gpt Au. Of the Vein #2 channel samples, 16.3% returned assays over 0.1 gpt Au.
Galena Vein System
The Galena Vein is where historical trenching over a near continuous strike of 123 m, an average width of 0.65 m and an average depth of 0.6 m in 78 samples weighing approximately 3.6 kg each averaged 20.8 gpt Au (28.9 gpt Au uncut) were reported by Rochelom Mines Ltd. in 1974.
A channel sample, ID# 110059, taken where Globex grab samples previously showed coarse visible gold, assayed 119.94 gpt Au and 14.5 gpt Ag over a width of 1 m. With the two adjoining samples, the three continuous samples averaged assayed 40.32 gpt Au and 5.02 gpt Ag over 3 m.
A channel sample, ID# D110069, taken 18 m to the south of the 40.32 gpt Au over 3 m contained coarse visible gold and assayed 438.23 gpt Au and 145.2 gpt Ag over 1 m, the highest single assay in the current sampling program.
Two consecutive channel samples, ID# D110102 and D110103, taken 62 m further to the south averaged 4.64 gpt Au over 1.65 m. Near the south end of the Galena stripping, channel sample, ID# D110122, assayed 1.58 gpt Au over 0.9 m. The Galena vein has a high gold background with 40.6% of the samples averaging over 0.1 gpt Au.
No high grade gold assays were reported from the two stripped areas that cover a portion of the ground between the two gold bearing vein systems. Only a portion of the exposed rock was channel sampled.
Considering the erratic distribution of the coarse gold mineralization observed on surface, the channel sampling succeeded in confirming a significant set of gold bearing vein systems (Galena and Number 2). Typically in such vein systems, the preferred and more definitive manner to define the average gold grade and the economic potential is to do a bulk sample which would provide a large enough volume to more closely reflect the grade and potential of the vein systems.
Natan is studying the channel results along with the recent grab sampling, historical trenching, detail mapping and geophysical surveys in order to design the next phase of exploration. Natan is well financed recently having raised $4 million.
The channel samples were assayed at Laboratoire Expert in Rouyn-Noranda, Quebec using standard fire assay methods. A strict quality assurance/quality control program was applied to all samples, which includes insertion of mineralized reference materials or blank samples or duplicates for each batch of 20 samples. The gold analyses were completed by fire assay with an atomic absorption finish on 30 grams of materials. Repeats were carried out by fire assay followed by gravimetric testing on each sample containing one gpt gold or more.
Note: Grab samples are selective by nature and are unlikely to represent average grades. Channel samples, on the other hand, are not selective by nature, the same as drill holes are not selective.
The Montalembert property was optioned to Natan by Globex. (See Natan and Globex press releases dated November 17, 2016 for details)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
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.
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 Natan Resources Ltd (Natan) and 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 and Natan 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