GLOBEX MINING ENTERPRISES INC. (TSX:GMX - News; FRANKFURT:G1M - News; OTCQX:GLBXF) is
pleased to inform shareholders that Glen Eagle Resources Inc. (GER-TSXV) has
announced the discovery of "a new lithium bearing pegmatite horizon
extending over a length of 2.2 km on the Authier
property." Globex retains a gross metal
royalty on one half of the Authier lithium zone and
on the surrounding claims where the new discovery has been made. Glen Eagle
intends to start a 4,000 meter drill program in mid-January to expand the known
lithium bearing pegmatite zone and explore the potential of the newly
discovered pegmatite horizon (See Glen Eagle's press release dated January 5,
2011).
In other news, Tres-Or
Resources Ltd. (TRS-TSXV) has announced the start of a 1,500 meter drill program
and a series of pit samples on their Duvay Gold
Property in Quebec. The Duvay property has
demonstrated historical intersections in drilling and in surface sampling of
erratic, nuggety high grade gold assays (See Tres-Or press release dated January 6, 2011). Globex retains a gross metal royalty on this property.
Laurion Mineral Exploration Inc. (LME-TSXV)
reported in a press release dated December 16, 2010 the results of drilling
on the Bell Mountain gold deposit in Nevada optioned from Globex
(See press release dated June 29, 2010). A 56 hole
program was completed totalling 4,340 meters.
Numerous wide intersections of gold mineralization were reported including
15.2 m grading 2.39 g/t Au and 23.9 g/t Ag, 13.7 m grading 1.0 g/t Au and
30.16 g/t Ag, 7.62 m grading 3.37 g/t Au and 28.6 g/t Ag. The drill program
was targeted to better define the known near surface gold zone and expand it
both to depth and along strike which it succeeded in doing. Based upon the
results, Laurion has engaged a consulting firm
"to develop a NI 43-101 compliant technical report for the property
contemplating a conventional low-cost open-pit mining method with heap-leach
processing configuration."
Xmet Inc. (XME-TSXV) announced on January
6th, that two drills had commenced drilling on the optioned Duquesne West
Property, one drill targeting expansion of the current NI 43-101 resource and
the other testing the "existing 20-20 Zone", where recent drilling
returned 6.65 g/t Au over 7.7 meters. The NIP Gold Zone will also be drill targeted
and an airborne geophysical survey has been started.
Globex is pleased with the exploration
undertaken on these properties by our partners (royalty and option) and looks
forward to the results of new work that the project operators have announced.
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 Companies
expectations and projections. A more detailed discussion of the risks is
available in the "Annual Information Form" filed by the Company on
SEDAR at www.sedar.com
21,018,008 shares issued and outstanding
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