More Progress as Regards Globex Assets
13 Diciembre 2022 - 8:35AM
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 that
Emperor Metals Inc. (AUOZ-CSE) have closed the
first $2,335,817 tranche of its flow through portion of their
financing. The funds are to be spent on Globex’s 50% owned Duquesne
West-Ottoman property in Duparquet, Quebec.
The property, which straddles the gold
localizing Porcupine Destor Break, includes numerous areas of drill
defined gold mineralization as reported in a NI 43-101 report
titled “Technical Report and Mineral Resource Estimate Update for
the Duquesne-Ottoman Property, Quebec, Canada for Xmet Inc.”, by
David Power-Fardy, M.Sc., P.Geo. and Kurt Breede, P.Eng. of Watts
Griffis and McOuat October 29, 2011. The report indicated an
Inferred Gold Resource of 4.17 Mt grading 5.42 g/t Au cut (6.36
uncut) for 727,000 oz. Au cut and 853,000 oz. Au uncut.
Emperor has optioned 100% interest in the
property from Globex and Géoconseils Jack Stoch Ltée for cash
payments totaling $10 million, 15 million shares having a minimum
price of $0.20/share), $12 million in work on the property, all
over a 5-year period and a 3% Gross Metal Royalty, 1% which may be
purchased for $1 million (click to October 12, 200 press release).
Geoconseils interest in the property predates Mr. Stoch’s
involvement in Globex.
In other news, Sayona Mining Limited
(SYA-ASX) has received the final permit from the Quebec
Government to allow it to restart the upgraded North American
Lithium operation near Barraute, Quebec in the first quarter of
2023 (see Sayona press release December 12, 2022). This augurs well
for Globex which holds a 0.5% Gross Metal Royalty on the center of
the proposed Authier Lithium Mine open-pit and is a large
shareholder of Electric Royalties (ELEC-TSXV)
which similarly holds a 0.5% Gross Metal Royalty on the center of
the open-pit.
Cartier Resources Inc.
(ECR-TSXV) has reported intersecting 3.3 g/t Au
over 4.6 m including 9.56 g/t Au over 1 m in mineralized
intersection at a vertical depth of 800 metres on the downdip and
plunge of the West Nordeau Deposit (see Cartier November 15, 2022
press release and Longitudinal Section). Globex retains a 3
% Gross Metal Royalty on the West Nordeau Deposit Sector
of Cartier’s Chimo Mine Project. The Cartier longitudinal section
indicated numerous additional drill holes planned in order to
expand upon the 311,000 oz Au Indicated
and Inferred Resource (see October 19, 2022 Globex press
release).
Lastly, Globex notes the continuing improvement
in the share price of Yamana Gold inc. (YRI-TSX)
to $7.48 per share. Globex continues to hold 706,714 shares of
Yamana currently worth $5,286,220.
(Note: Production royalties are only payable
upon production.)
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 9LEI 529900XYUKGG3LF9PY95 |
For further information, contact: |
Jack Stoch, P.Geo., Acc.Dir.President & CEOGlobex Mining
Enterprises Inc.86, 14th StreetRouyn-Noranda, Quebec Canada J9X
2J1 |
Tel.: 819.797.5242Fax:
819.797.1470info@globexmining.comwww.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.
55,695,336 shares issued and
outstanding
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