20:00:28 EDT Mon 13 May 2024
Enter Symbol
or Name
USA
CA



Globex Mining Enterprises Inc
Symbol GMX
Shares Issued 55,231,836
Close 2024-04-24 C$ 1.02
Market Cap C$ 56,336,473
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Globex partner drills 58.1m of 1.59% Li2O at Mirage

2024-04-25 13:55 ET - News Release

Mr. Jack Stoch reports

MORE ASSAY RESULTS AT MIRAGE (LAC ESCALE) LITHIUM PROPERTY

Globex Mining Enterprises Inc. has provided an update to shareholders regarding drilling by Brunswick Exploration Inc. on Globex's royalty property in the James Bay area of Quebec.

Drilling at the Mirage (Lac Escale) property by Brunswick continues to intersect wide widths of lithium-bearing mineralization in its drill campaign focused on the Central zone within Globex's large royalty claim package:

  • 1.59 per cent Li2O (lithium oxide) over 58.1 metres in hole MR-23-49;
  • 1.71 per cent Li2O over 31.6 metres in hole MR-23-60;
  • 1.03 per cent Li2O over 18.6 metres also in hole MR-23-60;
  • 0.93 per cent Li2O over 12 metres also in hole MR-23-60.

Thirty-five drill holes were completed, prioritizing near-surface lithium mineralization, and assays are pending for a further 32 drill holes.

Access Brunswick's press release, including maps and sections, on-line.

Globex retains a 3-per-cent gross metal royalty, of which 1 per cent may be purchased for $1-million by Brunswick, and, at the fifth year following the coming into force of the agreement (already reached), Brunswick will commence to pay Globex a $100,000 per year advance royalty.

This press release was written by Jack Stoch, Geo, president and chief executive officer of Globex in his capacity as a qualified person (QP) under National Instrument 43-101.

We seek Safe Harbor.

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