Additional Priority Gold Target on Globex Francoeur/Arntfield Mines Property
ROUYN-NORANDA, Quebec, June 12, 2018 (GLOBE NEWSWIRE) -- Globex Mining Enterprises Inc. (TSX:GMX) (FRANKFURT:G1MN) (STUTTGART:G1MN) (BERLIN:G1MN) (MUNICH:G1MN) (XETRA:G1MN) (OTCQX:GLBXF) is pleased to provide shareholders with information regarding recent work undertaken on our wholly owned Francoeur/Arntfield Gold Mines property locate 25 km west of Rouyn-Noranda, Quebec.
Late last fall, Globex personnel visited an area of the property approximately 450 m (± 1,500 ft) south of the gold localizing Wasamac/Francoeur fault that is associated with numerous gold deposits including the various Francoeur Mine and Arntfield Mine gold ore zones on our property. Historical maps showed a number of trenches, probably from the 1930’s and a limited number of drill holes. Several significant gold values were reported both from a few of the trenches and drill holes. During our staff’s initial visit, numerous old, collapsed and earth filled trenches were located and two grab samples from the limited remaining rock exposure returned gold assays of 3.15 g/t Au and 5.69 g/t Au.
Last month, a team returned to the area and undertook a program of prospecting and localizing the historical trenches and drill holes. A total of 25 grab samples were collected principally from rock exposures within the historical trenches or nearby. Ten of the grab samples assayed over 1 gram per ton as listed below:
| Samples | Gold g/t | Samples | Gold g/t |
| E29119 | 4.49 | E29127 | 2.33 |
| E29120 | 3.50 | E29128 | 7.06 |
| E29121 | 4.15 | E29129 | 11.55 |
| E29124 | 5.55 | E29130 | 6.27 |
| E29125 | 14.16 | E29142 | 1.47 |
For gold assaying, Expert Laboratory located at 750-A Saguenay, Rouyn-Noranda, Quebec uses a 29.16 gram sub-sample of the pulp (1 assay-ton) and fuses it, following standard procedures used in a fire assay method. The gold content of all samples is determined using atomic Absorption Spectroscopy. Samples containing greater than 1gpt gold are subjected to a re-assay whereby the gold content is determined using a gravimetric fire assay method.
Grab samples are selective by nature and are unlikely to be representative of average grade.
Globex now views this largely underexplored area as a priority exploration target and will submit an application to the government to undertake a program of stripping with follow-up mapping and channel sampling.
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.
| 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, 14th 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 SEDAR at www.sedar.com.
51,048,577 shares issued and outstanding