Troilus Results on Globex’s Lac Testard Royalty Claims
ROUYN-NORANDA, Feb. 09, 2022 - MINING ENTERPRISES INC. (GMX - Toronto Stock Exchange, G1MN - Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, D?sseldorf and Quotrix D?sseldorf Stock Exchanges and GLBXF - OTCQX International in the US) is pleased to inform shareholders of recently announced surface sampling and other exploration work on Globex's Lac Testard royalty exploration claims located approximately 10 km south of the main Troilus mine package. Globex sold a package of 91 various claim groupings to Troilus Gold Corp. as announced in a Globex press release dated July 21, 2020, for shares and a gross metal royalty.
The Lac Testard claim package consists of 5 claims in an L shaped pattern and includes the Lac Testard West showing with reported historical grab samples of up to 41.14 g/t Au, 378.42 g/t Ag and 0.38% Cu and chip samples assaying as follows:
| 30.60 g/t Au, 231.42 g/t Ag over 0.7 m | |
| 20.06 g/t Au, 265.20 g/t Ag over 0.4 m | |
| 11.22 g/t Au, 153.00 g/t Ag over 0.9 m | |
| 12.58 g/t Au, 53.18 g/t Ag over 1.2 m | |
| (Source : Sig?om) |
Surface sampling by Troilus has returned grab sample assays of:
| 203.0 g/t Au, 2,440 g/t Ag and 4.37% Cu | |
| 54.20 g/t Au | |
| 34.90 g/t Au | |
| 13.55 g/t Au |
These samples from outcrop are the highest to date ever reported in outcrop within the Frotet-Evans Greenstone Belt.
The Troilus press release may be accessed by clicking here.
In other news, Starr Peak Mining Ltd. has arranged for a third drill rig to be delivered to the NewMetal (Normetal/Normetmar) Globex royalty property to test high priority VTEM anomalies on the projected extension of the Perron East Gold Zone trend from Amex Exploration's adjoining property to the west (see Starr Peak press release by clicking here).
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.