ROUYN-NORANDA, Quebec, Jan. 07, 2025 (GLOBE NEWSWIRE) -- 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 report additional assay results from drill holes at Globex's Ironwood Gold Zone on the 100% owned Wood Gold Mine/Central Cadillac Mines property, 2.6 km east of the Town of Cadillac, Quebec in Abitibi.
Globex has completed 19 drill holes on the gold zone intersecting the gold zone from sub outcrop to a depth of approximately 225 metres vertical. The program was designed to delimit the boundaries of the deposit and to confirm the high-grade nature of the zone. Globex previously reported drill intersections in press releases dated December 4th, 2024, December 11, 2024, December 18, 2024 and December 23, 2024.
Globex is pleased to provide shareholders with assay results from five additional drill holes:
Holes NIW-24-09, NIW-24-10 and NIW-24-11, intersected 3 gold zones, 3 gold zones and 4 gold zones respectively while, holes SIW-24-06 and SIW-24-07 each, intersected a zone of wide high-grade gold zone.
Intersections are as follows:
| Hole Number | From (m) | To (m) | Au (g/t) | True Width (m) | True Width (ft) | Vertical Depth (m) | Position in Deposit |
| NIW-24-09 | 83.8 | 85 | 29.30 | 0.74 | 2.42 | 63 | Centre |
| NIW-24-09 | 94.0 | 99.5 | 10.49 | 3.4 | 11.15 | 72 | " |
| Including | 97.0 | 99.5 | 16.75 | 1.54 | 5.05 | 73.2 | " |
| NIW-24-09 | 131.7 | 133.4 | 8.39 | 1.06 | 3.47 | 98 | " |
| NIW-24-10 | 78.3 | 82.6 | 7.79 | 2.57 | 8.43 | 62 | East |
| NIW-24-10 | 107.5 | 110.4 | 3.34 | 1.75 | 5.74 | 83.5 | " |
| NIW-24-10 | 118.3 | 119.8 | 10.66 | 0.91 | 2.98 | 91 | " |
| NIW-24-11 | 122.4 | 123.7 | 6.68 | 0.42 | 1.37 | 113 | East |
| NIW-24-11 Including | 172.4 | 184.3 | 7.00 | 4.94 | 16.20 | 164 | " |
| 172.4 | 174.8 | 8.33 | 0.99 | 3.25 | 159.3 | " | |
| And including | 181.6 | 184.3 | 20.12 | 1.13 | 3.70 | 167.7 | " |
| NIW-24-11 | 253.6 | 255.9 | 6.61 | 1.01 | 3.31 | 233 | " |
| SIW-24-06 | 295.4 | 303.3 | 21.70 | 5.85 | 19.19 | 214.6 | Centre |
| SIW-24-07 | 290.0 | 298.2 | 8.43 | 5.49 | 18.01 | 227 | West |
Globex is very pleased with the gold intersections from the drill program which have added to our understanding of the deposits shape and gold distribution within the area tested. We will now recompile the intersections and put them into a three-dimensional model to help us decide what the next steps shall be in regard to this deposit.
Other news:
Manganese X Energy Corp. has announced that Eric Sprott has agreed to subscribe for $2 million worth of shares subject to TSXV and disinterested shareholders approvals. Funds will be used primarily to advance the Battery Hill manganese project including the pre-feasibility study currently underway. Globex holds 11,000,000 shares of Electric Royalties which in turn holds a 2% Gross Metal Royalty on the project and an additional a 1% Gross Metal Royalty which Globex holds directly. Globex also receives a $20,000 annual advance royalty payment.
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 with technical input from Pierre Riopel, P.Geo.
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| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242 Fax: 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 SEDARplus.ca
