ROUYN-NORANDA, Québec, May 31, 2018 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (TSX:GMX) (FRANKFURT:G1MN) (STUTTGART:G1MN) (BERLIN:G1MN) (MUNICH:G1MN) (XETRA:G1MN) (OTCQX:GLBXF) is pleased to report that Chalice Gold Mines Limited (TSX:CXN) has announced the discovery of a new gold mineralized zone on Globex’s Nordeau East property, located in Vauquelin Township, Quebec. The new gold horizon called the North Contact target was intersected in drill hole ECG-18-72 at a shallow depth from 180.5 to 204 m grading 1.12 g/t Au over 23.5 m. (including 6.86 g/t Au over 2.0 m and 5.71 g/t Au over 1.0 m).
The North Contact target “was a conceptual target that interpreted the presence of a mineralized fault along the contact between the basement volcanics and overlying Cadillac sediments, sub-parallel to, and approximately 800 m north of the Cadillac fault”. The zone is open toward surface and to depth as well as along strike to the east. Several earlier widely spaced holes to the west previously intersected gold values over a 1 km strike length including 1.77 g/t Au over 6.5 m in hole ECG-18-24. For additional details, please see Chalice’s press release of today’s date.
In other news, on May 29th, 2018, Radisson Mining Resources Inc. (TSXV:RDS) reported an intersection of 8.9 g/t Au over 1.5 m in drill hole OB-18-71, located 3,300 m east of the Vintage Zone at a vertical depth of 338 m. This intersection falls within the area covered by Globex’s recently acquired two percent (2%) Net Smelter Royalty (NSR). (See Radisson’s press release for details)
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
|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
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