Subject: MINING DRILLING RESULTS
Gold Intersections up to 5.37 gpt Au over 14 m at Maude Lake Property
ROUYN-NORANDA, QUEBEC--(Marketwired - Feb. 7, 2017) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to inform shareholders that RJK Explorations Ltd. (TSX VENTURE:RJX.A)(OTC:RJKAF) has received assays from four holes (578 m) of its 5,000 m drill program at Globex's Maude Lake Gold Property, northeast of Matheson, Ontario. The Maude Lake property is under option to RJK for annual cash payments of $250,000 per year adjusted for inflation and a 2.5% Gross Metal Royalty (GMR), 1% of which may be purchased for $2,000,000. Once production is achieved, the GMR may not be less than $250,000 per annum.
In a press release dated February 7, 2017, RJK announced the following results from drill holes at the "5 Zone".
| Hole | From (m) | To (m) | Core Length (m)* |
Gold (gpt) |
| RJK17-01 | 74.40 | 77.7 | 3.30 | 2.10 |
| 119.90 | 121.8 | 1.90 | 11.82 | |
| Including | 119.90 | 120.4 | 0.50 | 36.84 |
| And | 121.25 | 121.8 | 0.55 | 5.95 |
| RJK17-02 | 98.50 | 101.0 | 2.50 | 9.05 |
| Including | 98.50 | 99.4 | 0.90 | 5.88 |
| And | 99.40 | 100.3 | 0.90 | 17.42 |
| RJK17-04 | 89.00 | 103.0 | 14.00 | 5.37 |
| Including | 89.00 | 90.0 | 1.00 | 12.49 |
| And | 98.00 | 103.0 | 5.00 | 9.86 |
| RJK17-03 was drilled to test adjacent stratigraphy and contained no significant values. | ||||
| *True widths are unknown. |
Globex is pleased with the results of the first phase of drilling which "was successful in further defining the 5 Zone".
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 |
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
48,852,706 shares issued and outstanding
These press releases may also interest you
|
News published on and distributed by:
