Globex: December Zinc Royalty Payment Higher than Expected and Other News
ROUYN-NORANDA, QUEBEC--(Marketwired - Jan 30, 2018) - Globex Mining Enterprises Inc. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to report that despite the Christmas and New Year's break, Globex's December royalty payment from the Nyrstar NV Zinc Mine in Tennessee rose again to US$ 133,199 or CAD$ 170,109 based on an average zinc price of US$ 1.45 per pound. The current zinc price has moved up further to US$ 1.62/lb.
Other News
Renforth Resources Inc. (RFR-C) on January 23, 2018 provided assays from their December 2017 drill program on Globex's Parbec property. The drilling "extended the mineralized resource model horizons at Parbec by 60 metres on strike to the northwest with gold intersected in each of seven holes."
Intersections reported include 2.34 g/t Au over 11.05 m, 1.15 g/t Au over 15.35 m, 1.25 g/t Au over 26.5 m. (See Renforth Press Release dated January 23, 2018 for details).
Globex is pleased with the drill results and looks forward to the results from the current drill program.
Chalice Gold Mines Ltd. (CXN-T) has informed Globex that drills are currently working on the Nordeau land package optioned from Globex, part of Chalice's East Cadillac Gold Project.
Chalice has increased their 7,700 m drill program by an additional 21,000 m. "Results from drilling completed to date extend the mineralized structures at the Nordeau West deposit a further 150 m west and down dip to the -800 m vertical level." (See Chalice Press Release dated January 19, 2018 for details)
Great Thunder Gold Corp. (GTG-V) has announced assay results from Globex's Chubb Lithium royalty property "Highlights from hole C-17-01 include 1.33% of lithium oxide (Li2O) over 5.3 m and 1.15% Li2O over 2.1 m. Hole C-17-02 yielded 0.9% Li2O over 3.6 m." (See Great Thunder Press Release dated January 23, 2018 for details)
Note: Our partners' press releases may be easily accessed on Globex's home page.
This press release was written by Jack Stoch, 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: 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
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Contact
Globex Mining Enterprises Inc.
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
819.797.5242
819.797.1470
info@globexmining.com
www.globexmining.com