The Conversation (0)
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 TomaGold Corporation (LOT-TSXV, TOGOF-OTCPK) has started a drill program to extend 5 recent drill holes in order to intersect a newly discovered zincgoldsilver zone intersected beneath the previously known Berrigan mineralized zone.
The Berrigan property is a part of a large land package under option by TomaGold from Chibougamau Independent Mines Inc. on which Globex retains a 2% Gross Metal Royalty (see details in a Globex press release dated August 14, 2023).
The five drill hole extensions are planned to intersect the horizon where previous drill hole TOM-25-015 intersected 5.08% Zn Eq (1.19 g/t Au Eq) over 98.50 m, including 23.20% Zn Eq (5.44 g/t Au Eq) over 4.90 m.
Drilling from the previous phase of TomaGold drilling returned significant mineralized intersections as listed below.
Summary of Phase 1 drilling results at the Berrigan Mine project
| Hole ID | From (m) | To (m) | Length (m) | ZnEq (%) | AuEq (g/t) | Au (g/t) | Ag (g/t) | Cu (%) | Zn (%) |
| TOM-25-009 | 156.70 | 204.75 | 48.05 | 5.82 | 1.36 | 1.12 | 7.55 | 0.04 | 1.40 |
| including | 156.70 | 159.60 | 2.90 | 33.97 | 7.96 | 6.76 | 40.24 | 0.19 | 7.57 |
| including | 163.95 | 169.00 | 5.05 | 3.42 | 0.80 | 0.41 | 11.35 | 0.03 | 1.43 |
| including | 181.70 | 182.90 | 1.20 | 12.25 | 2.87 | 2.36 | 19.50 | 0.03 | 2.89 |
| including | 189.20 | 194.60 | 5.40 | 19.07 | 4.47 | 3.75 | 16.35 | 0.08 | 4.81 |
| including | 196.00 | 198.60 | 2.60 | 2.06 | 0.49 | 0.43 | 5.28 | 0.06 | 0.11 |
| including | 204.00 | 204.70 | 0.70 | 37.71 | 8.85 | 8.71 | 9.20 | 0.05 | 6.01 |
| 230.35 | 236.80 | 6.45 | 1.23 | 0.29 | 0.14 | 1.23 | 0.03 | 0.67 | |
| including | 235.70 | 236.80 | 1.10 | 5.00 | 1.17 | 0.72 | 2.80 | 0.04 | 2.27 |
| 244.50 | 259.70 | 15.20 | 4.87 | 1.14 | 0.59 | 7.22 | 0.04 | 2.40 | |
| including | 254.60 | 257.15 | 2.55 | 22.75 | 5.29 | 2.24 | 32.07 | 0.15 | 13.42 |
| TOM-25-010 | 108.00 | 111.00 | 3.00 | 2.18 | 0.51 | 0.51 | 1.53 | 0.02 | 0.23 |
| 120.65 | 125.00 | 4.35 | 8.03 | 1.87 | 0.95 | 9.11 | 0.05 | 4.26 | |
| including | 121.95 | 125.00 | 3.05 | 8.30 | 1.93 | 0.84 | 10.56 | 0.06 | 4.86 |
| 130.70 | 179.00 | 48.30 | 2.38 | 0.56 | 0.30 | 4.11 | 0.04 | 1.06 | |
| including | 135.75 | 142.00 | 6.25 | 11.43 | 2.66 | 1.63 | 16.13 | 0.09 | 4.79 |
| including | 144.80 | 149.00 | 4.20 | 2.01 | 0.47 | 0.12 | 4.68 | 0.04 | 1.31 |
| including | 158.30 | 159.35 | 1.05 | 3.73 | 0.87 | 0.16 | 5.93 | 0.10 | 2.73 |
| including | 175.50 | 177.70 | 2.20 | 4.11 | 0.96 | 0.79 | 3.57 | 0.04 | 1.04 |
| TOM-25-011 | 291.00 | 309.50 | 18.50 | 1.81 | 0.42 | 0.31 | 1.97 | 0.01 | 0.60 |
| including | 295.90 | 296.40 | 0.50 | 4.83 | 1.12 | 0.42 | 5.40 | 0.04 | 3.10 |
| including | 307.50 | 309.50 | 2.00 | 16.12 | 3.77 | 2.63 | 9.47 | 0.05 | 4.30 |
| 341.00 | 342.00 | 1.00 | 2.83 | 0.65 | 0.07 | 1.00 | 0.02 | 2.59 | |
| 344.10 | 345.00 | 0.90 | 4.69 | 1.09 | 0.39 | 3.50 | 0.04 | 3.16 | |
| TOM-25-012 | 283.85 | 285.00 | 1.15 | 5.51 | 1.31 | 0.71 | 4.10 | 0.88 | 0.02 |
| TOM-25-013 | No significant value | ||||||||
| TOM-25-014 | 185.00 | 187.10 | 2.10 | 24.85 | 5.83 | 4.94 | 56.44 | 0.05 | 4.55 |
| 238.70 | 239.85 | 1.15 | 20.86 | 4.86 | 2.63 | 22.20 | 0.16 | 10.40 | |
| 251.20 | 252.60 | 1.40 | 36.34 | 8.51 | 7.44 | 37.30 | 0.06 | 8.04 | |
| 405.30 | 406.70 | 1.40 | 13.68 | 3.17 | 1.13 | 13.15 | 0.07 | 9.25 | |
| 423.30 | 426.30 | 3.00 | 2.15 | 0.50 | 0.07 | 5.45 | 0.05 | 1.57 | |
| 451.50 | 457.50 | 6.00 | 1.22 | 0.28 | 0.08 | 3.45 | 0.01 | 0.79 | |
| TOM-25-015 | 132.55 | 141.00 | 8.45 | 3.73 | 0.87 | 0.51 | 5.51 | 0.03 | 1.66 |
| 155.70 | 157.70 | 2.00 | 28.08 | 6.56 | 4.66 | 26.90 | 0.07 | 10.29 | |
| 182.10 | 202.20 | 20.10 | 2.20 | 0.51 | 0.36 | 3.20 | 0.03 | 0.77 | |
| 451.20 | 549.70 | 98.50 | 5.08 | 1.19 | 0.82 | 3.21 | 0.04 | 1.98 | |
| including | 452.20 | 457.10 | 4.90 | 23.20 | 5.44 | 4.69 | 18.80 | 0.29 | 4.79 |
| and including | 500.35 | 549.70 | 49.35 | 6.46 | 1.51 | 0.90 | 3.48 | 0.03 | 3.13 |
| including | 521.00 | 535.60 | 14.60 | 9.07 | 2.11 | 1.34 | 5.91 | 0.04 | 4.12 |
| including | 537.85 | 541.10 | 3.25 | 9.00 | 2.09 | 0.88 | 3.85 | 0.05 | 5.82 |
| including | 542.00 | 548.20 | 6.20 | 13.39 | 3.12 | 1.63 | 5.26 | 0.05 | 7.43 |
Notes: (Source TomaGold Press Release: TomaGold Starts Drilling at Berrigan Mine, March31, 2026)
- The reported widths represent core lengths. True width is estimated to be approximately 80-85% of the core length, depending on the deviation angles.
- ZnEq and AuEq are calculated using the Company's standard parameters.
- AuEq calculation was based on US$4,150/oz Au, $51.34/oz Ag, US$5.023/lb Cu and $1.392/lb Zn. AuEq = Au g/t + (Ag g/t × 0.01237) + (Cu ppm × 0.000083) + (Zn ppm × 0.000023),applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.
- ZnEq calculation was based on US$4,047/oz Au, $50.22/oz Ag, US$4.796/lb Cu and $1.390/lb Zn. ZnEq = Zn ppm + (Ag g/t × 527) + (Au g/t x 42466) + (Cu ppm × 3.45) / 10,000, applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.
TomaGold has released two graphics which illustrate the drill target and proposed drill hole extensions.
TomaGold 1,500-metre Phase 2 drilling program aimed at testing the newly
discovered Berrigan Deep Zone
TomaGold 1,500-metre Phase 2 drilling program aimed at testing the
newly discovered Berrigan Deep Zone
TomaGold's press release, TomaGold Starts Drilling at Berrigan Mine dated March 31, 2026, may be accessed by clicking here.
This press release was prepared by Jack Stoch, P. Geo., Executive Chairman and CEO of Globex Mining Enterprises Inc. 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 | |
| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. Executive Chairman & CEO Globex Mining Enterprises Inc. 120 Carlton Street, Unit 219 Toronto, Ontario, Canada M5A 4K2 | 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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/4e5897e3-b343-4c45-b0b4-e9082afd6ebc
https://www.globenewswire.com/NewsRoom/AttachmentNg/e3f771c1-f05e-4300-a7c0-bd528b9d33d3
