ROUYN-NORANDA, Québec, April 03, 2019 (GLOBE NEWSWIRE) -- GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX International) is pleased to inform shareholders that it has received preliminary magnetometer survey results from the Bräunsdorf area located in our Saxony, Germany silver property.
The area surveyed covers a rectangular grid area approximately 6.5km long by 1 km wide elongated in a northeast-southwest direction covering the principal Neue Hoffnung Gottes (NHG) vein system including the Siegfried and Neue Hoffnung Gottes shaft areas and adjoining land to the northwest. Production from the NHG silver vein system is estimated to be approximately 112.5 tonnes (3,616,959 oz. Ag) from a strike length of approximately 2,750m and depths of up to 250 m. All mining was manual pick and shovel mining followed by hand sorting undertaken between 1673 and 1862. No modern exploration of any kind has been undertaken on the property. Veins are reported to have reached widths of up to 4.2 m.
The magnetometer survey outlines a series of 3 parallel northeast-southwest trending, linear magnetic high anomalies. The NHG vein system seems to parallel the southeastern most of these magnetic anomalies within an area of magnetic low. The other linear anomalies suggest corresponding linear, parallel magnetic lows similar to the one beside the magnetic high that borders the NHG silver vein system. No work of any kind has been undertaken on what may be geological environments that are similar to that of the NHG silver vein system and thus are priority target areas.
We are awaiting the final magnetometer data as well as completion of magnetometer surveys on other silver target areas as well as results from a number of induced polarization survey lines which should be started shortly. Soil sample surveys will also begin shortly in select areas.
This press release was written by Jack Stoch, 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 50 9 LEI 529900XYUKGG3LF9PY95 | |
| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242 Fax: 819.797.1470 info@globexmining.com www.globexmining.com |
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