Globex Intersects Gold on Geological Target
October 04 2011 - 8:37AM
Marketwired
GLOBEX MINING ENTERPRISES INC.
(TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to provide
shareholders with information regarding a recent drill hole
completed on our 100% owned Beacon claim, east of Val D'Or, Quebec
based upon recent geological interpretation.
Globex undertook a drill hole to intersect the Bourlamaque
granodiorite batholith near its contact with volcanic units. The
426 metre drill hole intersected 5.19 g/t Au over 2.9 m including
8.68 g/t Au over 1.5 m in a broader gold zone grading 3.72 g/t Au
over 4.4 m from 394.6 m to 399.0 m in the hole. The intersection of
coarse disseminated pyrite is at a vertical depth of 260 metres.
The mineralized contact area is untested in all directions for a
strike distance of at least 450 metres. The same granodiorite
contact area hosts the Wrightbar Gold Mine (a 100% owned Globex
property) and the Beacon Gold Mines to the southwest and Richmont's
Beaufor Gold Mine and the Courvan Gold Mine to the north. As only
one hole has been completed to date, the true width is unknown.
Globex intends to do additional drilling on this discovery.
The Beacon drilling program was planned and supervised by
Globex's Consulting Geologist and qualified person Richard Cote,
ing. employing a QA/QC program consistent with National Instrument
43-101 and industry best practices. The drill core was logged and
split with half-core samples analyzed employing the appropriate
gold fire assaying techniques by Expert Laboratory Inc. of
Rouyn-Noranda, Quebec.
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.
We Seek Safe Harbour. Foreign Private Issuer 12g3 -
2(b)
CUSIP Number 379900 10 3
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.
22,526,241 shares issued and outstanding
Contacts: Jack Stoch, P.Geo., Acc.Dir. President & CEO
Globex Mining Enterprises Inc. 819.797.5242 819.797.1470
(FAX)info@globexmining.comwww.globexmining.com
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