GLOBEX MINING ENTERPRISES INC. (GMX Toronto Stock Exchange, G1MN Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exch anges and GLBXF OTCQX International in the US) is pleased to update shareholders as regards drill results reported by Manganese X Energy Corp. (MN-TSXV, 9SC-FSE, MNXXF-OTCQB) on Globex's 1% Gross Metal Royalty, Battery Hill manganese property in New Brunswick. Globex also is a very large shareholder in Electric Royalties (ELEC-TSXV) that holds a 2% Gross Metal Royalty as the property. Manganese X has reported 12 new drill holes totalling 1,393 metres in the Moody Hill and Sharpe Farm sectors of the property which are in addition to the 93 previous drill holes. Intersections up to 72.6 metres (238 feet) are reported.
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16 June
Group Eleven Announces $2.2 Million in Early Warrant and Option Exercises and Provides Update on Carrickittle West 'Pallas Green Lookalike' Target
Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce funding from early warrant and option exercise and provide an update on the Company's Carrickittle West prospect, spanning 77.64%-owned Stonepark Project ("Stonepark") and 100%-owned PG West Project ("PG West"), Republic of Ireland. Drilling continues with three rigs at the Ballywire discovery ("Ballywire") at PG West.
Highlights:
- Early warrant and option exercises totalling proceeds of $2,206,752 received since C$2.5 mln placement closed Feb-28-2025 (including $1,852,902 since publication of Q1 2025 financials)
- Extra proceeds provide flexibility to ramp-up 2025 drilling and/or extend drilling well into 2026
- At Carrickittle West, four holes were completed late 2024 and early 2025 (three holes located at Stonepark and one hole located at PG West)
- Most significant target to emerge from this drilling is the Kilteely Prospect (large breccia body spanning at least 1.5km in strike)
- G11-2840-30 (365m step-out) intersected numerous zones of weak breccia with pyrite over narrow intervals throughout the Waulsortian Limestone; some breccias returned anomalous Zn-Pb and Cu levels, with the base of the Waulsortian Limestone (key target horizon) hosting minor disseminated pyrite and trace sphalerite
- Several occurrences of trace sphalerite are present in the hole, potentially suggesting increasing proximity to stronger mineralization relative to previous drilling at Kilteely
- Three other target areas have also emerged at Carrickittle West, including the Bruff Prospect
- G11-449-03 (315m step-out), targeting part of the >50km long Coonagh Castle Fault, intersected extensively dolomitized Waulsortian Limestone and a very prominent zone of calcite extending over 35m (from 294m), similar to Ballywire
- Base of Waulsortian is highly dolomitized over a 25m interval with similarities to 'fault dolomite' observed at Ballywire, which indicates intense hydrothermal fluid flow and close proximity to a major fault; follow-up drilling is highly warranted
"Carrickittle West continues to be one the best drill targets in Ireland," stated Bart Jaworski, CEO. "Being within only a few kilometres of 45 and 5 million tonnes of mineralization from Glencore's Pallas Green1 and our Stonepark2 deposits, respectively, this prospect has a real chance at hosting the southern half 'mirror-image' of the mineralizing system operating at the northern side of the Limerick Volcanic Complex. Today's drill results demonstrate the presence of key attributes – brecciation, faulting, hydrothermal fluids and significant pyrite. The fact we're also starting to pick up sphalerite locally in some of the drilling suggests we may be getting close to the high-grade. We look forward to follow-up drilling. Meanwhile, three rigs are turning at our Ballywire discovery and we anticipate the next drill results over the coming few weeks."
Ballywire Drill Update
Drilling at Ballywire continues with three rigs. Currently, nine (9) new holes are completed (and in the process of being logged, sampled and assayed). Seven of these holes are shown in Exhibit 1, with two other holes near gravity-high anomaly 'D' (located 1.3km to the ENE). Additional funding described above, nearly equal to Group Eleven's most recent private placement, increases the Company's cash to approx. C$4.3 mln (as at 13-Jun-2025). This strengthened financial position provides Group Eleven flexibility to either ramp-up drilling in 2025 and/or extend its runway for drilling well into 2026.
Exhibit 1. Plan Drill Hole Map of Ballywire Discovery, Showing New Drilling In Progress
New Step-Out Holes at Carrickittle West Target Area
The Carrickittle West target area spans the Company's 77.64%-owned Stonepark Project and 100%-owned PG West Project. In addition to holes G11-2840-30 and G11-449-03 summarized above (and shown in Exhibits 2-4), the following is a summary of the remaining two holes drilled (see Exhibit 2).
- G11-450-04 (570m step-out from previous drilling in area)
- Planned to test the hanging wall (north side) of the Kilteely Fault but intersected the footwall (south side) instead
- The base of the Waulsortian Limestone comprises a fine-grained dolomite, similar to Ballywire, with a series of breccias similar to black matrix breccia ("BMB", host alteration to Zn-Pb mineralization at Lisheen, Galmoy, Silvermines and Pallas Green)
- Pyrite is extensive in breccias with anomalous levels of base metals
- Colloform semi-massive pyrite is present from 265.27m to 265.73m and at 267.5m
- Future drilling will target base of Waulsortian on the hanging wall of the Kilteely Fault
- G11-2531-02 (710m step-out from previous drilling in area)
- Planned to test the hanging wall of Coonagh Castle Fault, but intersected the footwall instead
- Waulsortian is dolomitized throughout and contains extensive zones of pyritic brecciation at the top and base of the Waulsortian Limestone
- Breccias have vague similarity to Stonepark-style BMB
A follow up drill program is being designed, with one hole planned at Stonepark later this year and the remainder of holes to be drilled in 2026.
Exhibit 2. Plan View of New Drilling at Carrickittle West Target Area
Note: Carrickittle West target area (including the Kilteely and Bruff prospects) is located along the south side of the Limerick Volcanic Complex; 'Fault (Removed)' denotes previously inferred fault removed from new interpretation; 'Fault (Added)' denotes newly inferred fault
Exhibit 3. Plan View of Kilteely Prospect Showing New and Historic Drilling
Note: '?' = areas of prospectivity; Red dot = hole with sphalerite but no galena or massive pyrite; Orange dot = hole without sphalerite or galena but with massive or semi-massive pyrite; Yellow dot = hole with trace-minor pyrite; 'M.Py' = massive or semi-massive pyrite; 'Ox.' = intense oxidation; drilling at Carrickittle's Zn-Pb mineralized zones not shown
Exhibit 4. Cross-Section of the Bruff Prospect
Note: 'Future Hole?" denotes one of several possible hole locations which may be drilled in the area; 'brxx' = breccia
Exhibit 5. Regional Map of Ballywire Discovery and Carrickittle West Target Area
Notes to Exhibit 5: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2024); (b) Stonepark MRE: see the 'NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland', by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR+; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in 'Report on Prospecting Licence 464' by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in 'The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody' by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in 'Report on Mallow Property' by David Wilbur, dated December 1973; and later summarized in 'Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork' by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. 'Rathdowney Trend' is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.
Qualified Person
Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent 'Qualified Person' as defined under Canadian National Instrument 43-101.
Sampling and Analytical Procedures
All core drilled at Carrickittle West is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.32m to 1.4m with the majority of samples in the 0.80m to 1.00m range. The half-core samples are bagged, labelled and sealed at Group Eleven's core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70% < 2mm, riffle splitter, pulverise up to 250g 85% < 75um. Analytical procedures are 34 element four acid ICP-AES (codes ME-ICP61 and ME-OG62). Other than paying for a professional analytical service, Group Eleven has no relationship with ALS.
Quality Assurance/Quality Control (QA/QC) Information
Group Eleven inserts certified reference materials ("CRMs" or "Standards") as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.
About Group Eleven Resources
Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:
- 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
- 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
- 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
- 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
- 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
- 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
- 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)
- 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including
- 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)
Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit2, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit1. The Company's two largest shareholders are Glencore Canada Corp. (16.1% interest) and Michael Gentile (16.0%). Additional information about the Company is available at www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Bart Jaworski, P.Geo.
Chief Executive Officer
E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the current project or property being disclosed. This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
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23 May
Group Eleven Resources
Investor Insight
Group Eleven Resources’ new high-grade zinc discovery, its strong shareholders, and infrastructure-rich jurisdiction present a compelling investment case. With Glencore and Michael Gentile as the two largest shareholders, the company is well-positioned to leverage its discoveries into high-return opportunities.
Overview
Group Eleven Resources (TSXV:ZNG,OTC:GRLVF,FRA:3GE) is a Canadian mineral exploration company focused on unlocking value in Ireland’s world-class zinc districts. The company’s two flagship assets—PG West and Stonepark—are contiguous projects that together form the largest exploration land package in the Limerick region, a prolific and mining-friendly jurisdiction historically known for high-grade zinc deposits.
A game-changing development for Group Eleven is its 2022 Ballywire discovery, a high-grade, zinc-lead-silver system with recent assays also confirming elevated levels of germanium, a critical mineral used in semiconductors and green technologies. Ongoing drilling continues to expand the mineralized footprint and strengthen Ballywire’s profile as a potentially company-making asset.
Zinc is a critical metal for global infrastructure and plays an increasingly important role in grid-scale energy storage, particularly through zinc-air and zinc-ion battery technologies, emerging alternatives to lithium-based systems. With global refined zinc inventories at multi-decade lows and demand forecast to rise sharply alongside renewable energy adoption and infrastructure investment, Group Eleven is well-positioned to benefit from strong market tailwinds.
Ireland ranks among the top mining jurisdictions globally, offering a stable political environment, modern infrastructure, and a long history of successful zinc production, including the Tara mine—one of the world’s largest and longest-operating zinc mines. Ireland consistently receives high scores in the Fraser Institute’s Mining Investment Attractiveness Index.
Adding to Group Eleven’s investment appeal is a strong strategic partnership with Glencore, which holds a 16.1% ownership stake and a seat on the company’s board. This relationship provides not only technical expertise but also potential downstream and development synergies. Other major industry players, including South32 and Boliden, also maintain a strong presence in the region.
With a high-impact discovery, supportive commodity fundamentals, a Tier-1 jurisdiction, and backing from a major global miner, Group Eleven Resources offers investors significant exposure to zinc and critical minerals at a compelling valuation.
Company Highlights
- High-Grade Discovery at Ballywire: Group Eleven’s flagship Ballywire target in Ireland continues to deliver exceptional zinc-lead-silver (and germanium) results, with mineralization pierced over a 2.6 km strike length.
- New Copper Potential: Most recent drilling has demonstrated the presence of strong copper (up to 10.5 percent copper) and silver (up to 1880 g/t) grades over long intervals, pointing to a deeper copper target beneath the zinc horizon.
- Strong Strategic Backing by Glencore: Global mining leader Glencore is a key shareholder, holding a 16.1 percent stake in Group Eleven and maintaining board-level involvement. This partnership enhances technical collaboration and reflects strong confidence in the company’s assets and leadership.
- Tier-One Address in a Premier Zinc District: The company’s core PG West and Stonepark projects are located adjacent to Glencore’s Pallas Green deposit, one of the world’s largest undeveloped zinc resources.
- High-Impact Exploration at Carrickittle West: A compelling target within the Stonepark project, Carrickittle West exhibits strong geological parallels to Pallas Green.
- Infrastructure and Supportive Government: Ireland consistently ranks as a top-tier mining jurisdiction on the Fraser Institute’s Annual Mining Survey. It leads the world in zinc discovered per square kilometer, underscoring the region’s unmatched combination of zinc prospectivity and excellent infrastructure. The Irish government recently announced it would invest €30m into fast-tracking Irish mining projects.
Key Projects
PG West and Stonepark Projects
Group Eleven’s PG West and Stonepark projects form a dominant land package in the Limerick region of southwestern Ireland, covering over 350 square kilometres in a highly prospective zinc-lead-silver district. Strategically located within and around the Limerick Volcanic Complex, this region hosts Glencore’s world-class Pallas Green deposit—the second-largest zinc deposit discovered to date in Ireland, demonstrating the area’s exceptional mineral endowment.
Ballywire Discovery – A Major Zinc-Lead-Silver Breakthrough
At PG West, the company’s flagship Ballywire discovery, announced in September 2022, represents the most significant zinc exploration breakthrough in Ireland in more than a decade. Drilling to date has confirmed robust and continuous mineralization over a 2.6-kilometre strike length within a 6 km x 2 km prospective corridor. Importantly, all (but one) of the 52 holes drilled to date at Ballywire intersected mineralization, highlighting the consistency and scale of the system.
Ballywire features high-grade, flat-lying massive sulphide horizons. Notable intercepts include:
- 29.6 m grading 10.6 percent combined zinc and lead with 78 g/t silver, and
- 6.9 m grading 15.4 percent combined zinc and lead with 160 g/t silver.
Germanium (Ge) grades re-assayed from high-grade zinc intervals at Ballywire include up to 79.2 g/t, 71.7 g/t and 70.7 g/t, with the average of results in the 10-30 g/t Ge range. In May 2025, the company intersected the highest-grade silver intercept in Ireland over the last 60 years (by any operator) and similarly, one of the highest-grade Cu intercepts:
- 19.9m of 1.46 percent copper and 356 g/t silver, including
- 6.4m of 3.72 percent copper and 838 g/t silver, including
- 0.9m of 5.73 percent copper and 1880 g/t silver and
- 0.8m of 10.45 percent copper and 1215 g/t silver
The discovery hole and subsequent intercepts have revealed thick zones of high-grade mineralization with significant step-out success, especially towards the northeast, where intensity in both grade and thickness continues to build. With three rigs currently active, a strong treasury, and three of four gravity-high anomalies yet to be drill-tested, Ballywire is emerging as a potential Tier 1 zinc discovery.
Carrickittle West – A Pallas Green Analogue
Beyond Ballywire, Group Eleven is also advancing the Carrickittle West prospect located just a few kilometres from the Pallas Green deposit and is interpreted to be a geological analogue located on the southern margin of the same volcanic complex.
The company is targeting a large-scale system similar to Pallas Green (which hosts an inferred 45 million tonnes at 8.4 percent zinc + lead). The nearby Stonepark deposit, also within Group Eleven’s portfolio, contains an inferred resource of 5.1 million tonnes at 11.3 percent zinc and lead, further validating the region’s prospectivity. Success at Carrickittle West would deliver substantial strategic synergy within the broader Limerick zinc district.
Key Board and Management
Daniel MacInnis - Chairman and Director
Daniel MacInnis is the former president and CEO of MAG Silver, where he led one of the industry’s most successful exploration teams, credited with major discoveries including the Juanicipio/Valdecañas silver veins and the Cinco de Mayo mantos in Mexico. With over 40 years of global mineral exploration experience, he has managed multi-million-dollar programs for companies such as Noranda, Battle Mountain/Hemlo Gold, and Sargold Resources. His work spans gold and base metal discoveries in North America, Mexico, and Ireland, with proven expertise in exploration strategy, property acquisition, joint ventures, and operations. MacInnis previously served as a director of MAG Silver and chair of Balmoral Resources. He holds a B.Sc. in Geology from Saint Francis Xavier University and is an accredited corporate director.
Bart Jaworski – Chief Executive Officer
Bart Jaworski, based in Ireland, has been the chief executive officer and a director of Group Eleven Resources since its incorporation in 2015. He has over 25 years’ experience in the mining industry, commencing his career as an exploration geologist for over six years, followed by 12 years as a mining analyst at Raymond James in Vancouver and then J & E Davy in Dublin. During his time as an exploration geologist, he was involved in properties located in Canada, Russia and Costa Rica, and was associated with the early stages of the Coffee Creek gold discovery in the Yukon. Jaworski has a Bachelor of Science (Hons) in Geology from the University of British Columbia.
Brendan Cahill - Director
Brendan Cahill is a director and former president and CEO of Excellon Resources (2012–2022), a silver producer with operations in Mexico. He previously held senior roles with the Pelangio group, where he was instrumental in the Pelangio-Detour Gold merger and the acquisition of the Manfo Project in Ghana, leading to multiple gold discoveries. A former M&A lawyer at Davies Ward Phillips & Vineberg LLP, he advised on transactions totaling over $15 billion. Cahill is a member of the Law Society of Ontario and the Transplant Cabinet at University Health Network.
Alessandro Bitelli - Director
Alessandro Bitelli brings over 30 years of experience in the resource industry and public accounting across North America and Europe. Most recently, he served as executive vice president and CFO of Lundin Gold until his retirement in March 2023. He previously held the role of CFO at Red Back Mining, where he played a key role in its growth until its $9.2 billion acquisition in 2010. Between 2010 and 2016, he held senior financial roles with several other mining companies. Bitelli currently serves as an independent director at Montage Gold.
Franz Bollmann - Director
Franz Bollmann is finance manager at Glencore Zinc and a director of Glencore Servicios Corporativos Spain, with a focus on financial strategy and business development across the Latin American region. Since joining Glencore in 2014, he has held roles spanning finance, commercial operations, and M&A, and previously served as a director of Volcan Compañía Minera. Earlier in his career, he worked in sales and trading at Raymond James in the United States. Bollmann holds a degree in Finance with a minor in Mathematics from the University of Arkansas.
Michael Gentile - Director
Michael Gentile is a leading strategic investor in the junior mining sector, with top-five stakes in over 20 small-cap mining companies. He serves as a director of Northern Superior Resources, OnGold, Radisson Mining, Roscan Gold, and Solstice Gold, and advises Northisle Copper and Gold. He is the co-founder of Bastion Asset Management, managing over $425 million in small- to mid-cap equities. Previously, he was VP and senior portfolio manager at Formula Growth (2002–2018).
Jeannine Webb - Chief Financial Officer
Jeannine Webb is a Vancouver-based Chartered Professional Accountant with over 25 years of experience in the resource sector, specializing in financial leadership for mineral exploration companies. She currently serves as CFO of Northern Superior Resources Inc. and Abacus Mining & Exploration Corporation. Previously, she held CFO roles across multiple public and private exploration companies through Badger & Co. Management Corp., a provider of integrated financial, corporate, and geological management services.
David Furlong - Chief Operating Officer
David Furlong is a co-founding Director of Group Eleven Resources and currently serves as the company’s Chief Operating Officer, bringing over 22 years of experience in mineral exploration. From 2007 to 2014, he was general manager for projects at Rathdowney Resources, where he led exploration strategy and project execution. He specializes in the design and management of exploration programs across a range of deposit types. Furlong holds a B.Sc. (Hons) in Exploration and Mining Geology from the University of Wales and is a Professional Geologist (P.Geo) with the Institute of Geologists of Ireland.
Dr. Mark Holdstock - Project Manager
Mark Holdstock is a professional geologist with over 30 years of exploration experience, including roles with Noranda, Billiton, Outokumpu, Boliden, and Tara Mines. While at Tara, he led the discovery of the 20+ Mt SWEX extension to the world-class Navan Zn-Pb deposit in Ireland. An expert in carbonate-hosted zinc systems, he has authored several academic papers on the subject. Most recently, he served as managing director of Aurum Exploration Services in Ireland from 2005 until joining Group Eleven.
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10 April
More Drilling on Globex's Battery Hill Manganese Royalty Property
Key Highlights
- SF24-96 : 12.5m @ 13.62% MnO from 41.5m and 13.3m @ 14.9% MnO
- SF24-98 : 72.6m @ 11.29% MnO from 11m, including 42.1m @ 13.3% MnO
- SF24-99 : 32m @ 15.7% MnO from 5m
- SF24-101 : 16m @ 13% MnO from 8m, and 51.5m @ 12.57% MnO from 136m
- SF24-102 : 24.2m @ 9.3% MnO from 6.8m, 16.8m @ 10.89% MnO from 53.4m, and 35.6m @ 14.6% MnO from 87.2m
- SF24-103 : 32m @ 11.6% MnO from 27m
- SF24-105 : 20.2m @ 11.2% MnO from 81m
All drill holes were inclined at -45 degrees , with true thickness estimated at 65-80% of the reported core lengths. Core logging and sampling followed industry-standard protocols, including a QA/QC program with Certified Standards, blanks, and duplicates, comprising 5% of total samples. Sample intervals averaged 2 metres.
Initial half-core samples were collected by Company personnel and sent to the Actlabs prep lab in Fredericton, New Brunswick, before being forwarded to Actlabs in Ancaster, Ontario, for XRF-Fusion Whole Rock Analysis (Code 4C). Actlabs is an accredited laboratory.
Manganese X's news release was reviewed and approved by Perry MacKinnon, P. Geo., Vice President of Exploration for Manganese X, and a Qualified Person under NI 43-101 guidelines for mineral project disclosure.
The holes were focused on infill and expansion drilling to upgrade Inferred resources to Measured and Indicated categories supporting an upcoming NI 43-101 compliant Pre-Feasibility Study currently underway by Mercator Geosciences. The Manganese X Energy Corp. press release is available on the Manganese X website .
Considering the current worldwide economic situation and the need for Canada to source its own critical minerals both for domestic use and export, the Battery Hill manganese deposit is well positioned for the future.
The Manganese X mission as stated "is to advance its Battery Hill project into production, thereby becoming the first public actively traded manganese mining company in Canada and the US to commercialize EV Compliant High Purity Manganese, potentially supplying the North American supply chain. The Company intends on supplying value-added materials to the lithium-ion battery and other alternative energy industries, as well as striving to achieve new carbon-friendly more efficient methodologies, while processing manganese at a lower competitive cost."
Completed Drilling Program – Manganese X Energy Corp .
This press release was written by Jack Stoch, P. 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 | |
For further information, contact: | |
Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14 th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | 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
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/150e1250-2996-4d1c-80ee-18c346772b7c

News Provided by GlobeNewswire via QuoteMedia
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28 February
Top 5 Canadian Mining Stocks This Week: GPM Metals Leads With 37 Percent Gain
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.
Statistics Canada released its preliminary estimates for the 2024 annual mineral production survey on Wednesday (February 26).
The report showed that the US was the top trading partner for metal ores and non-metallic minerals over the last year. Canada’s resource sector shipped C$6.4 billion worth of commodities to the US in 2024. Meanwhile, imports into Canada totaled C$4.3 billion.
The top three export destinations for the Canadian mining sector were the US, which represented 23.9 percent of exports in 2024, followed closely by China with 20.3 percent and Japan with 8.9 percent.
At a value of C$4.2 billion, potash was the top mineral Canada exported to the US, representing 65.2 percent of metal and mineral exports. Diamonds and other non-metallic minerals were Canada’s next highest export to the US in this category, accounting for 13.1 percent of exports and having a trade value of C$844 million.
Overall, Canada shipped a total of C$54 billion worth of metals, non-metals and aggregates in 2024. The most valuable subcategory was gold, with Canada shipping 198,899 kilograms during 2024 worth an estimated C$16.89 billion. The second most valuable was potash, which saw 25.47 million metric tons shipped, adding C$8.68 billion to the Canadian economy.
Canada’s largest trading partner for minerals, the US, is causing considerable uncertainty in 2025 as the Trump administration continues to threaten sweeping 25 percent tariffs on all exports from Canada excluding energy, which would receive 10 percent tariffs.
The tariffs were originally set to go into effect in early February before being pushed back to the beginning of March, although US President Donald Trump did enact 25 percent tariffs on steel and aluminum imports in mid-February.
This past Wednesday, Trump indicated that the date for the sweeping tariffs had been pushed back to April 2, but walked it back in social media posts on Thursday (February 27), saying the tariffs would still go forward on March 4.
Since he assumed office on January 20, Trump’s foreign and domestic policies have sparked fears of a global trade war. Markets have struggled in recent weeks while the price of gold has soared to record highs as investors seek haven assets.
His economic moves towards Canada alongside comments calling Canada the 51st state and questioning its legitimacy as a nation have caused significant concern among Canadians, many of whom have begun boycotting US travel and products in favor of supporting Canadian companies.
Markets and commodities react
US equity markets were broadly down this week through the close of trading on Thursday, with CNN reporting markets are currently being driven by “Extreme Fear.” The S&P 500 (INDEXSP:INX) lost 4.13 percent over the four day period to end at 5,861.56, and the Nasdaq-100 (INDEXNASDAQ:NDX) fell 7.05 percent to 20,550.95 by Thursday. The Dow Jones Industrial Average (INDEXDJX:.DJI) saw the smallest drop, losing just 1.33 percent to 43.239.51.
In Canada, markets were also in decline. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 4.79 percent to close at 615.84 on Thursday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 1.61 percent loss to 25,128.24 and the CSE Composite Index (CSE:CSECOMP) dropped 3.73 percent to 127.53.
After hitting new all-time highs last week, the gold price slipped over the past four trading days losing 2.08 percent to US$2,876.00 per ounce at 5:00 p.m. EST Thursday. The silver price saw steeper declines, losing 5.04 percent during the period to US$31.25.
In base metals, the copper price spiked to almost US$4.75 late Tuesday (February 25) as Trump floated copper tariffs, but ended Thursday down on the week overall, closing the day at US$4.59 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) shed 3.16 percent to close at 560.29.
Top Canadian mining stocks this week
So how did mining stocks perform against this backdrop?
We break down this week’s five best-performing Canadian mining stocks below.
Data for this article was retrieved at 3:00 p.m. EST on Thursday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.
1. GPM Metals (TSXV:GPM)
Weekly gain: 36.84 percent
Market cap: C$14.43 million
Share price: C$0.13
GPM Metals is a mineral exploration company working to advance its Walker Gossan zinc-lead project in the Northern Territory of Australia.
In June 2024, GPM announced that it concluded a sale and purchase agreement with a Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) subsidiary to wholly acquire the Walker Gossan project in Australia as well as two nearby exploration license applications. The terms of the deal replaced a previous farm-in agreement.
Rio Tinto’s subsidiary has the option to earn up to 49 percent interest back in the future on certain milestones. Additionally, it retains the right to be paid a further contingent amount equivalent to the future value of 1,000 metric tons of zinc and lead if GPM discovers a mineral resource greater than 20 million metric tons with combined zinc and lead grades above 8 percent.
In July 2024, GPM announced that it had finalized plans for an exploration program to be conducted in 2024 and 2025 that will follow up on previous work at the property, which identified a 2 kilometer by 1 kilometer gravity anomaly. Due to unexpected damage to the access route from storms, the program was delayed until the end of the wet season, April 2025, and will be overseen by new CEO John Timmons.
Shares in GPM Metals were up this week, although the company has not released any news in 2025.
2. DLP Resources (TSXV:DLP)
Weekly gain: 33.33 percent
Market cap: C$34.99 million
Share price: C$0.30
DLP Resources is a mineral exploration company focused on advancing its flagship Aurora copper-molybdenum project in Peru.
The 8,500 hectare site is located in the Central Andes. Exploration work has been performed at the site since the early 2000s, with DLP conducting drill programs in 2023 and 2024.
Shares in DLP saw gains this week following the release of a technical report for Aurora on Thursday that included a maiden mineral resource estimate with significant copper and molybdenum spread over two zones.
The inferred resource totals 1.05 billion metric tons of ore containing 4.65 billion pounds of copper, 1.1 billion pounds of molybdenum and 80 million ounces of silver. The resource has average grades of 0.2 percent copper, 0.05 percent molybdenum and 2.4 grams per metric ton silver.
The company said it is pleased with the size and results of the report and will continue drilling the site to upgrade the resource ahead of a preliminary economic assessment.
3. TriStar Gold (TSXV:TSG)
Weekly gain: 29.63 percent
Market cap: C$51.79 million
Share price: C$0.175
Tristar Gold is a gold exploration and development company focused on advancing its Castelo de Sonhos project in Pará State, Brazil.
According to a 2021 pre-feasibility study, the property consists of six concessions and has hosted historic small-scale artisanal mining over the past several decades. Between 2010 and 2021, Tristar drilled more than 67,000 meters in 611 holes.
The economics included in the study demonstrate that, at an annual 5 percent discount rate, the project has an after-tax net present value of US$321 million and internal rate of return of 28 percent with a payback period of 2.8 years. The base case was calculated using a gold price of US$1,550 per ounce.
The project was issued a preliminary license in August 2024 from the Para Secretariat for the Environment and Sustainability (SEMAS), a crucial environmental hurdle and the first of a three-stage process to allow project development.
The project experienced some delays in October as federal prosecutors recommended that the license be suspended pending the completion of additional archaeological studies and Indigenous Component Studies. In a follow-up announcement in December, Tristar indicated that the permit for the site would remain valid, with SEMAS providing a strong technical defense of the permitting process.
The company has not released further information on the proceedings and has spent early 2025 raising funds. The most recent news came on February 21, when it announced it had closed the final tranche of a non-brokered private placement for gross proceeds of C$1.08 million.
4. Star Diamond (TSX:DIAM)
Weekly gain: 28.57 percent
Market cap: C$27.79 million
Share price: C$0.045
Star Diamond is an exploration and development company working to advance its flagship Fort à la Corne diamond district in Saskatchewan, Canada.
The property is located 60 kilometers east of Prince Albert, Saskatchewan. Previously a joint venture with Rio Tinto, Star Diamond acquired Rio Tinto’s stake in the project in March 2024 in exchange for 119.32 million shares in Star Diamond, resulting in Rio Tinto holding a 19.9 percent ownership position in the diamond junior.
Fort à la Corne has seen extensive exploration of kimberlite deposits, including geophysical surveys, large-diameter drilling and micro- and macro-diamond analyses.
The Star-Orion South diamond project, the most advanced project area in Star Diamonds' portfolio, is located within the district.
In 2018, the company released a PEA for Star-Orion South, which reported a resource of 27.15 million carats of diamonds from 200.16 million metric tons with an average grade of 14 carats per 100 metric tons. The inferred resource is 5.18 million carats from 72.08 million metric tons, with an average grade of 7 carats per 100 metric tons.
At the time, the company estimated a post-tax NPV of C$2 billion, an IRR of 19 percent and a payback period of 3 years and 5 months.
On January 9, Star Diamond announced that a 70.7 million share block held by a former project partner had been sold, with 61.12 million shares purchased by an international investor interested in diamonds.
The company’s most recent news came on February 27, when it announced that it had closed the second tranche of its private placement for gross proceeds of C$230,000, adding to the C$335,000 from the first tranche it closed on February 18. The funds will be used as working capital. According to the announcement, Star Diamond is discussing funding for a pre-feasibility study with potential investors.
5. Canuc Resources (TSXV:CDA)
Weekly gain: 21.43 percent
Market cap: C$13.60 million
Share price: C$0.085
Canuc Resources is an exploration and development company focused on its flagship San Javier silver and gold project in Sonora, Mexico.
As part of its strategy, Canuc also owns the MidTex natural gas project, which consists of eight producing natural gas wells it uses to provide steady, long-term cash flow.
Its San Javier project consists of 28 contiguous claims covering 1,052.9 hectares, with the most recent set of claims acquired in July 2024. The company has completed limited exploration work at the site, the most recent being a mapping and sampling program in January 2024.
The most recent news from Canuc came on February 13 when it announced it had entered into a definitive arrangement agreement to acquire Macdonald Mines Exploration (TSXV:BMK,OTC Pink:MCDMF). Multiple conditions must be met before it is finalized, including several approvals and Canuc completing a C$500,000 private placement.
If completed, the deal will see Canuc acquire Macdonald and its flagship SPJ project located 40 kilometers northeast of the Sudbury mining camp in Ontario, Canada. The site covers 19,710 hectares and hosts mineralization of copper, gold, cobalt, nickel and rare earth elements.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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05 February
Nuvau Minerals: Revitalizing Critical Mineral Production in Quebec’s Premier Matagami Mining District
Nuvau Minerals (TSXV:NMC) revitalizes critical mineral production in Quebec with its flagship project, the Matagami Mining Camp, which represents a premier opportunity in the Abitibi Greenstone Belt.
Quebec's Abitibi Greenstone Belt is renowned for its high-grade deposits and significant production history and is recognized as a Tier 1 jurisdiction with exceptional mining infrastructure and skilled labor. Nuvau Minerals has an agreement to acquire the Matagami Mining Camp from Glencore. The camp has a rich mining history with 60 years of production and nearly 60 million tons mined across 12 past mines.
The Matagami Mining Camp covers over 1,300 square kilometers, comprising more than 2,500 claims. The property offers exceptional exploration potential for critical minerals, particularly zinc and copper. The Matagami Mining Camp has produced nearly 60 million tons of ore over 60 years of continuous operation.
The property features a 3,000-ton-per-day concentrator, last operated by Glencore in 2022. This infrastructure not only reduces the capital requirements for reactivation but also accelerates the timeline for potential production. Extensive geological and operational data inherited from Glencore provides a strong foundation for efficient exploration and development.
Company Highlights
- Nuvau Minerals has an agreement to acquire the Matagami Mining Camp from Glencore, a historic mining camp with 60 years of production history and nearly 60 million tons mined across 12 past mines.
- The flagship Matagami Mining Camp spans more than 1,300 square kilometers with more than 2,500 claims in Quebec’s Abitibi Greenstone Belt. The project includes a 3,000-ton-per-day concentrator operated by Glencore until June 2022.
- Nuvau has invested nearly $30 million since early 2022 in a three-year exploration program to discover critical minerals, primarily zinc and copper, leveraging highly prospective targets across the property.
- The companyaims to re-establish the Matagami Mining Camp as a leading critical minerals producer by leveraging historical data, robust infrastructure, and modern exploration techniques.
- Quebec's Abitibi Greenstone Belt is globally recognized as a Tier 1 jurisdiction with exceptional mining infrastructure and skilled labor.
- Approximately $25 million has already been invested in the property, with the earn-in phase with Glencore expected to be completed by 2025.
This Nuvau Minerals profile is part of a paid investor education campaign.*
Click here to connect with Nuvau Minerals (TSXV:NMC) to receive an Investor Presentation
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04 February
Nuvau Minerals Targets Matagami Mine Restart in Québec
Following its successful initial public offering on the TSX Venture Exchange and its acquisition of the Matagami property from Glencore (LSE:GLEN,OTC Pink:GLCNF), Nuvau Minerals (TSXV:NMC) is embarking on an aggressive exploration strategy in 2025, including an intensified drilling campaign to expand known resources at Matagami.
In an interview at the Vancouver Resource Investment Conference, Nuvau’s president and CEO, Peter van Alphen, highlighted the strategic importance of the acquisition, describing the project’s “incredible exploration opportunities.”
“(Matagami) is a very large land package with multiple targets already identified — we've made two discoveries so far … We've got the infrastructure from the past-producing mine processing facility, it’s a permitted mine," he said.
"And we've got over 10 years of resources available to us as well on the property. So we've got all the pieces there required to, at some point, get the property back into production," added van Alphen.
Work at the project in 2025 will include geological assessments to de-risk the property, an aggressive drilling program to expand the resource, obtaining permits for a new tailings facility and work toward restarting production.
In addition to pursuing a clear path to near-term production, van Alphen also emphasized the property’s exploration potential.
“It also has incredible exploration potential in the northern part of the Abitibi greenstone belt. So we're in the right location. It's in Québec. So we've got incredible support from the Québec government through various sources, including funding,” he said.
Watch the full interview with Nuvau President and CEO Peter van Alphen above.
Disclaimer: This interview is sponsored by Nuvau Minerals (TSXV:NMC). This interview provides information which was sourced by the Investing News Network (INN) and approved by Nuvau Minerals in order to help investors learn more about the company. Nuvau Mineralsis a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Nuvau Minerals and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
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