Globex Rare Earth Results-Turner Falls Project, Quebec
January 17 2012 - 9:55AM
Marketwired
GLOBEX MINING ENTERPRISES INC.
(TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to inform
shareholders of the results of sampling on Globex's 100% owned
Turner Falls rare earths project in the Kipawa area of Quebec.
During the summer and fall seasons, Globex undertook a program
of mapping, geophysics and limited stripping and sampling on the
Turner Falls property. The purpose of the program was to sample a
historical rare earth showing indicated in government geological
files, gain an understanding of the property geology, follow up on
locating the source of mineralized boulders found in previous
exploration campaigns and prospect for, and sample new rare earth
mineral showings.
The program was successful in outlining the geology which is
somewhat complex. More importantly, the old showing area was
sampled and new areas of high grade mineralization were discovered.
A preliminary review of the data reveals six mineralized trends
with anomalous to high assays of light and heavy rare earths
elements as well as, in many cases, Zirconium, Yttrium, Hafnium and
Niobium.
The trends were sampled and in some cases blasted in order to
obtain fresh samples. In addition to outcrops, boulders were also
sampled. The transport distance of the boulders located on the
claims is thought to be limited with the sources believed to be on
the property.
A total of 331 rock samples were assayed as were 139 boulder
samples.
The list below reveals the highest rare earth oxide assay
obtained in grab samples from both outcrops and boulders. Please
bear in mind that grab samples are selective by nature and the
values reported are not representative of average grades, but
rather are presented in order to demonstrate the variety and
enrichment of rare earths sampled in surface showings and
boulders.
The assays are expressed as oxides, the most common form in
which the elements are marketed. It is worth noting that the
property has elevated percentages of heavy rare earths as well as
light rare earths. Heavy rare earths are rarer and more valuable
than light rare earths. For example, Dysprosium oxide is quoted at
$1,500 per kg (1%=10kg). While this is not representative of the
project as a whole, it does demonstrate the potential of the
property to host economic concentrations of rare earth
elements.
(i)Spot
Outcrop Boulders Oxide Price
----------------------------------------------------------------------------
Light Rare Earths
Lanthanum Oxide (La2O3) 2.93% 3.62% $50/kg
Cerium Oxide (Ce2O3) 5.26% Greater than 5.85% $45/kg
Praseodymium Oxide (Pr2O3) 0.58% Greater than 0.58% $150/kg
Neodymium Oxide (Nd2O3) 2.03% 3.25% $175/kg
Samarium Oxide (Sm2O3) 0.29% 0.36% $73/kg
----------------------------------------------------------------------------
Heavy Rare Earths
Europium Oxide (Eu2O3) 0.02% 0.05% $3,850/kg
Gadolinium Oxide (Gd2O3) 0.17% 0.40% $130/kg
Terbium Oxide (Tb2O3) 0.02% 0.04% $2,400/kg
Dysprosium Oxide (Dy2O3) 0.32% Greater than 0.57% $1,500/kg
Holmium Oxide (Ho2O3) 0.01% 0.17%
Erbium Oxide (Er2O3) 0.31% 0.54% $175/kg
Thulium Oxide (Tm2O3) 0.03% 0.08%
Ytterbium Oxide (Yb2O3) 0.29% Greater than 1.14%
Lutetium Oxide (Lu2O3) 0.02% 0.04%
----------------------------------------------------------------------------
Other Elements
Yttrium Oxide (Y2O3) 2.23% 4.25% $95/kg
Zirconium Oxide (ZrO2) Greater than 6.75% 17.36%
Hafnium Oxide (HfO2) 0.14% 0.26%
Niobium Pentoxide (Nb2O5) 1.60% 4.98%
----------------------------------------------------------------------------
Summary - (Highest
Individual Samples)
TREO (Total Rare Earth
Oxides) 9.29% --
HREO (Heavy Rare Earth
Oxides) 1.32% --
TREO + Y2O3 10.12% --
HREO + Y2O3 3.55% --
HREO + Y2O3/TREO + Y2O3 0.37% --
(i) Oxide prices in US dollars reported on January 11, 2012 by
mineralprices.com are subject to change. Quoted prices may vary from source
to source.
The samples were assayed by ALS Minerals in Vancouver, British
Columbia. The analysis was done by the Inductively Coupled
Plasma-Mass Spectroscopy (ICP-MS) method. Values exceeding standard
limits were re-assayed using a 4% nitric acid dissolution in order
to accurately determine high values.
We are still awaiting final assays for several samples where the
assays received to date are still above the limits of the
analytical methodology used. These samples are indicated as
"(i)Greater than".
We are very pleased with the progress achieved to date and are
now considering various alternative approaches to continuing the
project including but not limited to a diamond drill campaign,
stripping and trenching the mineralized trends, or joint venturing
or optioning the project.
This press release was written by Jack Stoch, P. Geo., President
and CEO of Globex Mining Enterprises Inc. and Richard Cote, ing.,
consulting geological engineer for Globex Mining Enterprises
Inc.,in their capacity as Qualified Persons (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
22,726,241 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.com www.globexmining.com
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