Globex Acquires Three Lithium Properties in Quebec
ROUYN-NORANDA, QUEBEC--(Marketwired - May 2, 2016) -
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Globex Mining Enterprises Inc. (TSX:GMX)(FRANKFURT:G1M)(STUTTGART:G1M)(BERLIN:G1M)(MUNICH:G1M)(XETRA:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that it has acquired three lithium projects located in LaCorne and Figuery Townships, Quebec between the towns of Amos and Val D'Or.
The projects called the Chubb, Bouvier and McNeely properties all have recorded spodumene (lithium mineral) occurrences in surface showings, trenches and drill holes. In all properties, multiple spodumene bearing pegmatite dykes are reported with spodumene content of up to 20% reported in some dykes.
Globex acquired 100% interest in the properties in exchange for undertaking the renewal of certain claims and reserving a one percent (1%) Net Smelter Royalty (NSR) for the vendor which may be purchased by Globex at any time for $200,000.
Chubb Property, LaCorne Township
- Spodumene bearing pegmatite dykes varying from 1.6 to 6 m width
- Spodumene content varying up to 15% and tested to a depth of 100 m and length of 300 m
- Most recent drill holes 1.68 Li02 wt % over 3.72 m and 1.25 Li02 wt % over 2.38 m
Bouvier Property, Figuery Township
- Spodumene bearing pegmatite dykes varying from 5 to 14 m width
- Spodumene content varying up to 25% and tested along a strike length of 183 m by drilling and trenching
Source: Technical Report and Recommendations on three Li-Mo properties associated with the Preissac-Lacorne Batholith in the Abitibi Sub-province, Quebec, Canada: The Chubb, International and Athona properties" written on February 5, 2010.
McNeely Property, LaCorne & Landrienne Townships
- Spodumene bearing pegmatite dykes
- Drill holes up to 1.0% Li over 2.44 m
- Geological similarity to the Quebec Lithium Mine
Source: Sigéom Examine Quebec government Internet Site 32C/05-0018
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.
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Forward Looking Statements: A detailed discussion of the risks is available in the "Annual Information Form" filed by Globex on SEDAR at www.sedar.com.
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Contact
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
819.797.5242
819.797.1470
info@globexmining.com
www.globexmining.com