Drilling to Begin at Chibougamau Independent Mines, Berrigan Project
ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 02/04/13 -- Chibougamau Independent Mines Inc. (TSX VENTURE: CBG) and Globex Mining Enterprises Inc. (TSX: GMX) (FRANKFURT: G1M) (OTCQX: GLBXF) wish to inform shareholders that Chibougamau Independent Mines ("Chibougamau Mines") has received all necessary permits in order to begin drilling on the Berrigan gold, silver, zinc property located directly north of the town of Chibougamau, Quebec. Chibougamau Mines has also signed a drill contract and expects a drill to be on site by February 4th in order to commence a 1500 to 2000 metre focused drill program. Drilling will be set out so as to confirm and expand upon historical drill results intersected by previous property owners dating back to the late 1940's. The following are a small sampling of previously reported intersections taken from the report titled "Technical Review (NI 43-101 Compliant) & Evaluation of the Exploration Potential on the Berrigan Gold-Silver-Zinc Project, McKenzie Township, Chibougamau, May 17, 2012 (revised Aug. 15, Oct. 30 and Nov. 26, 2012) by Claude Larouche, geo., ing (OIQ)."
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Hole # From To Interval Zn % Cu % Au g/t Ag g/t
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A-005 131.4 m 140.2 m 8.8 m 5.70% 6.96 g/t
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A-010 97.3 m 105.2 m 7.9 m 4.43% 4.94 g/t 25.36 g/t
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A-016 18.9 m 21.2 m 2.3 m 1.51% 6.43 g/t
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76.2 m 77.7 m 1.5 m 3.45% 8.91 g/t
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A-061 91.6 m 100.6 m 9.0 m 3.76% 0.16% 3.00 g/t 17.24 g/t
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107.1 m 115.7 m 8.6 m 6.15% 0.17% 8.14 g/t 39.70 g/t
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A-062 59.3 m 61.1 m 1.8 m 6.92% 4.62 g/t 17.14 g/t
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A-063 113.7 m 114.3 m 0.6 m 17.55% 49.23 g/t 404.64 g/t
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129.4 m 132.8 m 3.4 m 8.86% 8.88 g/t 68.16 g/t
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138.9 m 141.5 m 2.6 m 4.69% 4.04 g/t 11.14 g/t
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A-065 121.6 m 125.7 m 4.6 m 7.67% 6.08 g/t 21.56 g/t
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139.8 m 144.5 m 4.7 m 2.80% 3.55 g/t 7.64 g/t
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164.7 m 167.2 m 2.5 m 3.13% 6.95 g/t 15.44 g/t
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A-066 100.6 m 101.8 m 1.2 m 22.90% 36.65 g/t 39.73 g/t
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159.8 m 168.8 m 9.0 m 6.26% 5.19 g/t 19.60 g/t
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A-067 157.1 m 158.2 m 1.1 m 16.75% 10.96 g/t
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A-072 188.7 m 190.9 m 2.2 m 5.08% 3.13 g/t
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A-073 144.8 m 145.1 m 0.3 m 27.90% 32.88 g/t
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A-076 126.3 m 129.8 m 3.5 m 11.07% 3.02 g/t
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A-083 94.3 m 96.3 m 2.0 m 4.45% 3.79 g/t 10.34 g/t
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119.4 m 132.6 m 13.2 m 4.99% 2.88 g/t 15.91 g/t
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A-084 130.3 m 142.8 m 12.5 m 4.58% 5.10 g/t 17.18 g/t
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A-086 50.9 m 52.1 m 1.2 m 7.00% 15.07 g/t 59.60 g/t
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A-103 56.4 m 59.4 m 3.0 m 5.84% 11.61 g/t
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U-02 44.9 m 45.6 m 0.7 m 2.95% 17.81 g/t 89.74 g/t
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90.4 m 91.4 m 1.0 m 13.80% 26.72 g/t 58.91 g/t
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95.8 m 108.7 m 12.9 m 5.75% 3.11 g/t 15.17 g/t
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U-03 8.2 m 16.6 m 8.4 m 13.09% 6.98 g/t 20.71 g/t
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49.4 m 64.0 m 14.4 m 8.69% 3.41 g/t 17.49 g/t
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U-04 17.4 m 19.7 m 2.3 m 12.77% 4.60 g/t 14.65 g/t
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85.9 m 86.6 m 0.7 m 7.05% 37.68 g/t 78.09 g/t
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U-09 71.8 m 75.8 m 4.0 m 2.32% 4.32 g/t 12.43 g/t
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SU-23 2.8 m 10.6 m 7.8 m 3.98% 3.33 g/t 20.54 g/t
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SU-52 0.0 m 5.0 m 5.0 m 3.88% 3.01 g/t 19.82 g/t
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SU-59 0.0 m 4.1 m 4.1 m 5.40% 3.51 g/t 31.04 g/t
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TA-87-27 31.1 m 32.3 m 1.2 m 5.60% 17.98 g/t 37.33 g/t
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TA-87-40 81.1 m 83.5 m 2.4 m 10.05% 2.96 g/t 50.05 g/t
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91.4 m 94.2 m 2.8 m 10.82% 3.23 g/t 19.19 g/t
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TA-90-50 65.5 m 70.1 m 4.6 m 4.12% 6.78 g/t 10.12 g/t
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84.6 m 87.5 m 2.9 m 3.90% 3.20 g/t
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95.5 m 106.7 m 11.2 m 10.39% 0.10% 2.54 g/t 19.26 g/t
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114.0 m 129.5 m 15.5 m 6.57% 0.10% 8.05 g/t 23.58 g/t
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TA-90-51 197.4 m 200.0 m 2.6 m 5.39% 0.21% 3.52 g/t 20.10 g/t
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TA-90-52 201.2 m 203.3 m 2.1 m 5.21% 5.70 g/t 11.60 g/t
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TA-90-56 81.0 m 84.4 m 3.4 m 5.75% 4.06 g/t
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164.4 m 166.9 m 2.5 m 5.23% 6.18 g/t
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215.7 m 219.6 m 3.9 m 6.74% 3.95 g/t
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TLT-09 247.4 m 249.7 m 2.3 m 4.28 g/t
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The Berrigan project is just one of over a dozen priority targets identified in Chibougamau Mines' large package of 100% owned land holdings. Geophysical surveys have also started on a number of these priority targets, as part of a first phase exploration program to evaluate targets and the effectiveness of new, never previously applied geophysical techniques. In addition historical data has been acquired and is being evaluated in light of new and innovative geological interpretations.
Globex Mining Enterprises Inc. maintains a 3% GMR on the entire Chibougamau Mines' land package as a result of the recent spin out transaction.
Jack Stoch, P.Geo. President and CEO of Globex Mining Enterprises Inc and Chibougamau Independent Mines Inc. wrote this press release in his capacity as QP under applicable regulations.
We Seek Safe Harbour Foreign Private Issuer 12g3 - 2(b)
CUSIP Chibougamau Independent Mines - CBG-V 167101 10 4
CUSIP Globex Mining Enterprises - GMX 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 Companies expectations and projections. A more detailed discussion of the risks is available in the current Globex's "Annual Information Form" available on SEDAR at www.sedar.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Contacts:
Jack Stoch, P.Geo., Acc.Dir., President & CEO
Globex Mining Enterprises Inc.
Chibougamau Independent Mines Inc.
819.797.5242
819.797.1470 (FAX)
info@globexmining.com
www.globexmining.com
