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Globex Acquires a Large Silver Exploration Licence in Saxony, Germany
Sep. 12, 2017 08:31AM PST
Silver InvestingGlobex Mining Enterprises (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to inform shareholders that we have acquired a 164 square km (63.3 square mile) land package measuring 36 km long by up to 5 km wide in the State of Saxony in southeast Germany. The project herein called the Bräunsdorf licence includes the western part of the famous Freiberg silver mining …
Globex Mining Enterprises (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to inform shareholders that we have acquired a 164 square km (63.3 square mile) land package measuring 36 km long by up to 5 km wide in the State of Saxony in southeast Germany.
The project herein called the Bräunsdorf licence includes the western part of the famous Freiberg silver mining district which, over an approximate 850 year history, has produced some 5,700 tonnes of silver as well as zinc and lead.
The area forming the Bräunsdorf licence has produced, over a 750 year period, at least 882 tonnes of silver (28.8 million ounces) with a current value of over US$ 500,000,000 (at US$ 17.50 per oz). Six major historic silver mine camps and five minor camps or prospects are included in the licence.
Previous production was from surface to a maximum depth of 580 m with most production from shallow depths due to limits imposed by mining methods and water table levels over the extensive historical mining period. Currently, the permit area is weakly populated and most of the land is used for agricultural purposes.
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