Globex Intersects Wide Zones of Manganese and Iron at its Woodstock New Brunswick Property
October 12 2011 - 9:08AM
Marketwired
GLOBEX MINING ENTERPRISES INC.
(TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to provide
shareholders with the assay results of two drill holes, undertaken
on our manganese-iron property near Woodstock, New Brunswick.
Two holes were drilled back to back, due to the physical
characteristics of the topography and access issues. The first hole
GNB11-2 was drilled at 110 degrees for a length of 320 meters. The
second hole GNB11-3 was collared approximately 2 meters behind
GNB11-2 and drilled in the opposite direction of 290 degrees for a
length of 57 meters.
The assays show four wide zones totalling 116.54 m (382.35 ft)
of manganese (Mn) and iron (Fe) mineralization as indicated
below:
----------------------------------------------------------------------------
A Horizon 19.24 m (63.12 ft) grading 10.18% Mn and 15.48% Fe Hole
GNB11-2
----------------------------------------------------------------------------
B Horizon 19.92 m (65.35 ft) grading 11.17% Mn and 16.75% Fe Hole
GNB11-2
----------------------------------------------------------------------------
C Horizon 20.72 m (67.98 ft) grading 10.45% Mn and 12.51% Fe Hole
GNB11-2
----------------------------------------------------------------------------
B+C Horizons 48.3 m (158.46 ft) grading 9.80% Mn and 13.90% Fe Hole
(i) GNB11-2
----------------------------------------------------------------------------
D Horizon(ii) 49.0 m (160.76 ft) grading 8.70% Mn and 11.76% Fe Hole
GNB11-3
----------------------------------------------------------------------------
(i) Includes lower grade material between the B and C Horizons.
(ii) Hole GNB11-3 ended in mineralization grading 10.38% Mn and 12.88% Fe
and was stopped too early.
Samples between the various horizons also ran several percent Mn
and up to 7 % Fe. The intersections above are core lengths. As one
set of holes were drilled, the next series of holes will include
holes beneath these holes in order to determine the true
widths.
We are very pleased with these initial drill results as they
confirm and expand upon the historical information available in
government files which indicate that a sizable iron-manganese zone
has been defined by surface work and limited shallow drilling.
These holes were not drilled where historical information indicated
the widest width but rather where access was readily available, to
confirm the presence of the iron-manganese zone, and to provide
geological data.
Globex also undertook some initial hydrometallurgical work on
surface samples from the property. The limited data generated,
indicated that high percentages of dissolution of the manganese can
be achieved with no special precautions such as a reducing
atmosphere.
Globex intends to undertake additional work on this property
including extending hole GNB11-3 to completely traverse the D
Horizon, undercutting the recently completed cross section in order
to define the dip and true width of the horizons and lastly do
additional cross sectional drilling to delineate some of the strike
length of the zones. Magnetometer, VLF and gravity surveys will
also be undertaken in order to map out the iron manganese
horizons.
The samples were analyzed by Activation Laboratories Ltd. of
Ancaster, Ontario by XRF, Whole Rock Analysis for 12 major oxide
compounds including MnO and Fe2O3 as well as the LOI. Detection
limits are about 0.01 wt % for most elements. Mn and Fe element
concentrations were then calculated.
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
Contacts: Globex Mining Enterprises Inc. Jack Stoch, P.Geo.,
Acc.Dir. President & CEO 819.797.5242 819.797.1470
(FAX)info@globexmining.comwww.globexmining.com
Globex Mining Enterprises (QX) (USOTC:GLBXF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Globex Mining Enterprises (QX) (USOTC:GLBXF)
Historical Stock Chart
From Jul 2023 to Jul 2024