Globex Property Ideally Situated | Ottawa Citizen
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09.12.2022 • 3 minutes ago • 2 minutes read
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ROUYN-NORANDA, Quebec, December 9, 2022 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Dusseldorf and Quotrix Boerse DusseldorfAngel
and GLBXF – OTCQX International in the US) is pleased to comment on yesterday’s news release from Azimut Exploration (AZM-TSXV) and KGHM International (KGHM), a major Polish mining group, regarding KGHM’s option on Azimut’s Kukamas gold/copper property in the James Bay region of Quebec.
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Under the terms of the agreement, KGHM can earn up to a 70% interest in the property by paying Azimut $475,000 in cash and conducting $6,400,000 in exploration over a period of six years (click here for Azimut’s press release to read).
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The Kukamas property consists of 2 large claim blocks along the highly prospective Yasinski greenstone belt in the La Grande sub-province of Upper Archaean Province of Quebec. The two claim blocks are separated by a block of 25 claims, 100% owned by Globex, which host numerous gold, copper, silver and iron showings up to 36 g/t Au, 62 g /t Ag and 10.96%. Cu in trench and trench sampling (see map below). In addition, near the northeast of this claim block, another 3 claims include two additional gold and silver occurrences where grab and grab sampling have returned assays of up to 1 47.2 g/t Au and 13.6 g/t Ag. (Source Sigeom-Quebec).
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| Note: | Grab and trench grab samples are selective in nature and are not likely to be representative of average grades. |
Globex looks forward to further exploration by Azimut and KGHM on their Kukamas project. Globex intends to begin exploration on its claim blocks next summer if we do not option the asset in accordance with our business model before that time.
This news release was prepared by Jack Stoch, Geo., President and CEO of Globex, a Qualified Person (QP) as defined by NI 43-101.
| We’re looking for Safe Harbor. | Foreign private issuer 12g3 – 2(b) |
| CUSIP number 379900 50 9 LEI 529900XYUKGG3LF9PY95 |
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| For more information contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President and CEO Globex Mining Enterprises Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 |
Phone: 819.797.5242 Fax: 819.797.1470 [email protected] www.globexmining.com |
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Forward-looking statements: Except for historical information, this press release may contain certain “forward-looking statements.” These statements may involve a number of known and unknown risks and uncertainties and other factors that could cause actual results, levels of activity and performance to differ materially from Globex Mining Enterprises Inc. (“Globex”) expectations and projections. There can be no assurance that events anticipated in the forward-looking information will occur or will occur, or, if they should occur, what benefit Globex will derive. A more detailed discussion of 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
