ROUYN-NORANDA, Quebec, July 02, 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 update shareholders on progress by Antimony Resources Corp. (ATMY-CSE, K8J0-FSE) on the Bald Hill Antimony Project located in New Brunswick under option from Globex.
Antimony Resources, in a press release dated July 2, 2025, announced assays from two drill holes that intersected the target antimony zone, out of the first four completed drill holes. Holes BH-25-1 and BH-25-2 were stopped short of the target and were redrilled but holes BH-25-3 and BH-25-4- intersected the target.
Hole BH-25-03 intersected 2.76% Sb over 2.8 m from 78.2 m to 81.0 m including 19.0% Sb over 0.4 m from 78.2 m to 78.6 m.
Hole BH-25-04 intersected 4.17% Sb over 7.40 m from 106.6 m to 114.0 m including three zones of massive stibnite which returned 28.8% Sb over 0.50 m, 21.9% Sb over 0.40 m and 17.9% Sb over 0.40 m.
(Note: Reported widths are core lengths. True widths are estimated to be between 75% and 80% of core lengths.)
Holes BH-25-01 and BH-25-02 were redrilled with longer holes BH-25-08 and BH-25-09 both of which intersected the targeted massive stibnite zone.
A total of 10 holes have been completed to date. Assays of additional mineralized intersections are pending.
The drilling also intersected low grade gold mineralization with assay of up to 2.15 g/t Au over 0.40 m as part of the wider 2.8 m intersection zone in Hole BH-25-04.
Antimony Resources' press release may be accessed by clicking here.
Globex is pleased with the initial drill results and looks forward to the receipt of the pending assays. Antimony prices have skyrocketed due to shortages brought on in part by geopolitical conflicts.
Shareholders can access Globex's press release dated January 22, 2025, for property details and option terms which include $2,000,000 in cash payments, 1,100,000 Antimony Resources shares and a minimum of $5,000,000 in property expenditures over 4 years. Should the earn in be completed, Globex will retain a 3.5% Gross Metal Royalty (GMR), 1% of which may be purchased for $1,000,000 adjusted for inflation.
The distribution of drill holes and surface occurrences are shown in the figure below:
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.
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| 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
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/07139bcd-6143-465b-b755-a2074cd7b1f9
