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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 exploration drilling by Cartier Resources Inc. (ECR-TSXV, 6CA-FSE) on Globex's Nordeau Royalty claims (Exhibit 1) in Vauquelin Township (32C03), 45 km southeast of Val d'Or, Quebec. Globex holds a 3% Gross Metal Royalty on the Nordeau claims including the area where Cartier has identified a new gold zone called the East Nordeau Zone on Cartier's Cadillac Property. Late last year Cartier embarked on an aggressive 600 drill hole, 100,000 metre drill program on its Cadillac property.
Cartier has announced additional drill intersections on the East Nordeau gold zone (ENZ) intersecting significant high-grade gold mineralization near surface. The ENZ is comprised of two parallel high-grade gold zones, EN1 and EN2 separated by approximately 25 metres. The mineralization was confirmed over a 400-metre strike length and remains open to depth. According to Cartier the new mineralization environment with iron formations may indicate a strong opportunity to make further gold discoveries, increasing the scale of the target area in the Nordeau Sector. The ENZ zone is located 800 metres south of the Contact Sector and the high-grade North Contact Zone. Mineralisation found in the ENZ is shown in plan maps, cross and longitudinal sections in Exhibit 2.
The highlight results from the Cartier Resources Inc. press release are as follows:
- In the ENZ
- CA25-565 intersected 23.2 g/t Au over 1.0 metres in EN1 Zone.
- CA25-570 intersected 11.9 g/t Au over 1.0 metres in EN1 Zone and 14.1 g/t Au over 1.0 metres in EN2 Zone.
- CA25-572 intersected 7.3 g/t Au over 1.0 meters in EN1 Zone.
Note: Based on the observed intercept angles within the drill core, true thicknesses are estimated to represent approximately 70-95% of the reported core length intervals.
- Importantly holes CA25-565, 570, and 572 confirm the newly recognized ENZ high grade gold zone near surface. Cartier plans further drilling to refine the geological model and verify the mineralization continuity. Exploration drilling is planned to test several new high-priority regional targets along the strike of the Nordeau Sector and the Cadillac Fault Zone.
Exhibit 1. Globex Royalty Claims Showing Mineralized Gold Zones.
Note: The Cadillac Project Resources are for the entire Cadillac project including the Chimo deposit where Globex does not have a royalty.
Exhibit 2. Plan View, Cross and Long Sections of the Nordeau Sector
Note: Images are from the Cartier Press Release.
For more detailed information on the drill results please click here to access Cartier's latest press release at https://ressourcescartier.com/news/cartier-hits-23-2-g-t-au-at-east-nordeau-cadillac-project/.
The success displayed by Cartier on the Globex's royalty claims is impressive. Globex looks forward to seeing additional drill results along the North Contact Zone and the East Nordeau Zone as the drill program continues.
This press release was written by David Christie, P.Geo.., President and COO 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: | |
| David Christie President and COO 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.
Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/089b23a0-5543-4ae4-b6f6-571371e11078
https://www.globenewswire.com/NewsRoom/AttachmentNg/b387281a-bbd8-4e90-a64f-d3d55caf8623
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