ROUYN-NORANDA, Quebec, July 23, 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 to shareholders that it has acquired by staking 40 lode claims in the north of the famous historic Gold Basin mining district. The property consists of 24 lode claims in the West Claim Block and 16 lode claims in the East Claim Block. Total surface area amounts to 334.45 ha.
The property herein called the Salt Spring Project was staked to cover numerous gold-bearing quartz veins, small historic mine workings and prospects. It is located in northwestern Arizona, Mohave County, 85 km in beeline southeast of the city of Las Vegas, Nevada and about 15 km south of Lake Mead.
Gold was discovered in the district in the early 1870's with most of the production prior to 1932 coming from the El Dorado, Excelsior, Golden Rule, and Cyclopic mines. Total historic gold production is not known.
In the area covered by Globex's Salt Spring West Claim Block, 14 small mines and at least 15 prospects had been previously identified. The historic Gold Hill Mine, the small North Mine, Central Mine and about 15 small prospects, cuts or workings are in the East Block. Although the largest mine in the northern Gold Basin region, the Gold Hill Mine was a rather small operation with intermittent production between 1930 and 1942. According to records from 1940 there exist two tunnels 55 m and 18 m in length and one inclined shaft to 12 m depth. A few thousand tons must have been extracted from the mine considering the size of underground mine workings and mine dump (about 2000 tons). Old records to past production are limited to a note that reports 359.57 t averaging 21.7 g/t Au in 1940 (composed of 11 individual shipments of ore ranging in size between 13 t and 127 t and grades between 11.9 g/t Au and 48 g/t Au). (Source: Meredith W. M. (1940) Owners Mine Report: Department of Mineral Resources, State of Arizona; internet source: http://docs.azgs.az.gov/OnlineAccessMineFiles/G-L/GoldhillMohave202a.pdf).
An eluvial gold placer is located within a 400 m long ravine 500 m NW of the Gold Hill Mine. Gold is recovered here sporadically by small-scale dry washer operations. The source deposit for this eluvial gold placer has not been discovered.
Results From Recent Globex Surface Sampling
Globex has carried out preliminary fieldwork including geological mapping and collected a total of 131 rock samples and 32 soil samples as a test geochemical survey.
High-grade assay results of vein and stockwork mineralization found in the West Claim Block include grab sample B-1 with 17.8 g/t Au & 0.13% Cu, mine dump grab sample B-6 with 16.2 g/t Au & 0.36% Cu, linear chip sample B-8 over 1.05 m width (quartz stockwork) with 18 g/t Au and 0.09% Cu, mine dump grab sample B-29 with 25.6 g/t Au and 0.17% Cu, linear chip sample B-47 over 0.85 m width (quartz stockwork) with 4.99 g/t Au, linear chip sample B-68 over 0.8 m width (stockwork) with 3.56 g/t Au and channel sample B-34 over 1.0 m width with 4.85 g/t Au.
Samples collected from fault breccias (with less than 10% vein quartz fragments) returned 4.41 g/t Au in linear chip sample B-11 over 1.3 m width and 41.4 g/t Au in selected chip sample B-5 over 0.4 m width.
Linear chip sample B-19 collected over 3.6 m width from granodiorite and gneiss (without quartz veining) returned 1.79 g/t Au.
The Gold Hill Mine that historically exploited high-grade gold ore is located in the East Block. The mine adits are barred, and sampling/mapping of the underground mine workings was not possible. Sample B-123, a linear chip sample over 1.5 m horizontal width of a massive quartz vein returned 8.55 g/t Au.
Linear chip sample B-107 collected from the NW-SE trending Central vein system assayed 49.27 g/t Au, over a true vein width of 0.9 m, the highest grade from the entire Salt Spring project. Also, a sample from the adjoining wallrock returned low-grade gold (1.26 g/t Au in sample B-106). A mine dump grab sample B-93 from the Central Mine returned 11.3 g/t Au.
A linear chip sample over a 1.4 m thickness and mine dump sample B-94/95 from the manto-like ore body at the North Mine returned 20.8 g/t and 26 g/t Au respectively.
Two samples were collected from pegmatitic granite dikes replaced partly by coarse crystalline pyrite (oxidized to limonite/hematite): Grab sample B-118 from 0.5 m thick replacement in 1 m thick dike returned 3.46 g/t Au and grab sample B-119 from pyrite-replacement in 1 m thick granite dike returned 1.14 g/t Au.
Also important is (unselected) grab sample B-111 which assayed 10.73 g/t Au. It was collected from sub-outcropping clay-sericite-ankerite altered gneiss/schist with few quartz veinlets at a north-dipping mountain slope. The site represents probably the northernmost outcrop-line of a sub-horizontal manto-like shear zone. Toward the north it had been removed by erosion and placer gold in the ravine to the north must be derived from this mostly non-outcrop area. This may explain the 900 ppb gold in soil anomaly encountered 15 m to the north of this sample site. It is believed that this gold zone, perhaps 1.5 to 2.5 m thick, extends southward.
Another interesting gold discovery is represented by sample site B-121. Here exist no outcrops and the collected general grab sample consists just of rock float from an argillic-limonitic altered granite breccia over a 3x3 m area. It returned 3.21 g/t Au. No historic mine pits are evident at this location. Most likely the gold mineralization is associated with a concealed flatly dipping shear zone.
Note: Grab samples and chip samples are selective by nature and are unlikely to be representative of average grades.
Analytical Methods
Rock samples were placed in labelled plastic bags, sealed with a plastic zip and shipped to American Assay Laboratories (AAL) in Sparks, Nevada, USA for preparation and geochemical analysis. AAL is an ISO 17025 certified laboratory. Samples are crushed and a 300 g subsample pulverized to >85% -75 micron. All samples underwent ICP-OES analysis of a 0.5 g subsample after 5-acid digestion (HNO3, HF, HClO4, HCl and H3BO3) for 11 elements including silver. 5-acid treatment results in near total digest (resistant phases e.g. corundum, ilmenite, rutile are not digested). Gold was analyzed via fire assay of a 30 g subsample and analyzed with ICP-OES. Obtained gold values above 10 g/t were re-analyzed via fire assay of a 30 g subsample and gravimetric determination. Typical internal standards and checks were completed by AAL during analysis.
This press release was written by Matthias Jurgeit, Eurogeologist under the supervision of Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
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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
