Drill Program Underway on Globex's Parbec Property to Test Near Surface Gold Mineralization
May 19 2011 - 8:48AM
Marketwired
GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(OTCQX:
GLBXF) is pleased to announce that Savant Explorations Ltd. (TSX
VENTURE: SVT) ("Savant") has started a 1,400 metre drill program on
the Parbec project to test the extent and continuity of shallow
near surface gold mineralization discovered in last year's drill
program (see Savant November 23, 2010 news release). This year's
program will focus on the area of drill holes Par-10-05 and
Par-10-08, which intersected 1.82 gpt gold over 38.9 metres and
1.37 gpt gold over 28.6 metres respectively. Results from the 2011
drill program will be released once all results have been received
and compiled.
The Parbec Project is located along the Cadillac Break, 20
kilometres southeast of the Cadillac Gold Camp, and 5 kilometres
west and along strike from the historic Malartic Gold Camp where
Osisko Mining is currently operating a large open pit gold mine on
the Canadian Malartic Gold property.
Savant can acquire a 100% interest in the Parbec Property under
a four year option agreement with Globex, the terms of which have
been previously divulged in a press release dated January 11,
2010.
In other news Plato Gold Corp. (TSX VENTURE: PGC) announced
preliminary results from a 17 hole drill program on the Nordeau
East Gold Zone (see Plato press release dated May 18, 2011) under
option from Globex. Results, while incomplete, show numerous gold
intersections of significance.
This press release was written by Jack Stoch, P. 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
Contacts: Jack Stoch, P.Geo., Acc.Dir. President & CEO
Globex Mining Enterprises Inc. 819.797.5242 819.797.1470 (FAX)
info@globexmining.com www.globexmining.com
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