ROUYN-NORANDA, Quebec, June 30, 2020 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that it has completed the 2,000 Km, 25 metre spacing detailed aeromag survey over our 100% owned Francoeur, Arntfield, Lac Fortune Gold Mines property, in Beauchastel and Dasserat townships, Quebec, west of Rouyn-Noranda.
The initial mag maps are of excellent quality and more than meet our expectations that the detail provided by the survey will allow Globex to trace gold bearing horizons and structures in areas of overburden cover and predict displacement caused by faulting.
In fact we are so pleased with the new data and its unraveling of certain geological questions that we have decided to fly a number of other project areas. We recently completed a similar survey on our Laguerre-Knutson gold mine property near Larder Lake, Ontario, the Napping Dwarf gold property tying onto the west side of Sleeping Giant Gold Mine and the Blackcliff Gold Mine property, east of Malartic (in conjunction with Altai Resources Inc. (ATI-TSXV)).
We have decided to fly a significant number of other Globex properties over the next several months.
A crew is currently on the Francoeur/Arntfield/Lac Fortune Gold Mines property, mapping, sampling and prospecting in part on selected targets as a follow-up to the aeromag survey.
This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
| We Seek Safe Harbour. | Foreign Private Issuer 12g3 – 2(b) |
| CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95 |
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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 [email protected] 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 SEDAR at www.sedar.com
54,631,852 shares issued and outstanding
