Globex Intersects High Grade Gold (128 g/t Au) at Isaac's Harbour Property
February 02 2012 - 9:28AM
Marketwired
GLOBEX MINING ENTERPRISES INC.
(TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to inform
shareholders that it has completed a 3 hole, 811 meter diamond
drill program on our 100% owned North Star Gold Property located at
Isaac's Harbour, Nova Scotia.
The first hole GNS-11-1 was drilled to a depth of 139 meters in
order to intersect gold reported in historical drill hole CIH-99-02
drilled in 1999 by Indocan Resources. The hole encountered two
occurrences of visible gold but returned assays of only 0.70 g/t Au
and 0.68 g/t Au over 1.05 metre and 1 metre respectively.
Hole GNS-11-2 was drilled to a depth of 536 metres in order to
intersect gold reported in historical Indocan drill hole CIH-99-05.
Narrow quartz veins were intersected containing pyrite,
arsenopyrite, chalcopyrite and pyrrhotite. Two sections of coarse
free gold were intersected as follows:
------------------------------------------------------------------------
Hole GNS-11-2
------------------------------------------------------------------------
Depth (m) Core Length (m) Gold (g/t) Gold (oz/T) Core length (ft)
------------------------------------------------------------------------
512-513 1.0 128.38 3.75 3.28
------------------------------------------------------------------------
533-534 1.0 24.53 0.72 3.28
------------------------------------------------------------------------
The hole was terminated at 536 meters in anomalous material
running 317 ppb Au. The casing was left in place. The core lengths
indicated above do not represent the true widths as we do not have
enough data points to define the dip of the gold bearing veins.
Hole GNS-11-3 was drilled to a depth of 136 meters and tested a
magnetic anomaly encountered in a 2010 magnetometer survey
undertaken by Globex. No gold values of economic importance were
intersected.
Samples were split under the supervision of Perry MacKinnon (P.
Geo) at Isaac's Harbour, Nova Scotia and shipped in sealed bags by
courier to Laboratoire Expert Inc. in Rouyn-Noranda, Quebec for
analysis. All samples were subjected to standard fire assay
processing with an atomic absorption finish. Samples returning
greater than 500 ppm gold or noted to contain visible gold were
subjected to metallic sieve analysis.
The Isaac's Harbour region of Nova Scotia is known to host
numerous sediment hosted, Meguma style gold bearing quartz vein
structures, many of which had seen production in the late 1800's
and early 1900's. At least three quartz vein bearing anticlines run
through the Globex claims. The first two drill holes tested the
northern-most known structure on which the North Star gold
occurrence is reported. Old workings on the property consist of
numerous pits and at least two short declines, the main one
reported to be 150 metres long. The anticlinal structure dips
nearly vertical, strikes east-west and plunge approximately 20
degrees to the west.
This press release was written by Jack Stoch, P. Geo., President
and CEO of Globex and Perry MacKinnon, P. Geo., Project Manager 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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