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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 20, 2013) - Global Minerals Ltd. (TSX VENTURE:CTG)(OTCBB:GMLFF) is pleased to announce the initial results from an on-going underground drill program at its 100% owned Strieborná silver project in Slovakia. The program is designed to define and expand resources in the upper portion of the mineral deposit in areas where early mine development may be anticipated.
|Table 1. Strieborná Underground Drill Results|
||No significant values|
|Cu analyses top-cut to 5% for one sample in STR-06-12-006|
|Assays for the intervals are weight averaged.|
Drilling was conducted from the first of two drill stations on Level 6 approximately 180 meters below surface. The top of the deposit is approximately 35-50 meters below this level. The drill program will confirm the upper limits of the deposit as well as the grade and continuity of the silver resource in this area. Future resource estimates and development plans to exploit this high grade area of the deposit will be based on this new information.
An updated resource estimate is planned for Q3 2013 and will be incorporated into engineering and economic studies being carried out by AGP Mining Consultants on behalf of the Company.
Strieborná is a high-grade silver-copper vein type deposit in an historic mining district near the town of Roznava in eastern Slovakia. It has excellent expansion potential over and above the already well-defined resource. Significant infrastructure at site include a working shaft and hoisting system, extensive underground access through a series of drifts, crosscuts and tunnels and associated surface facilities. Global is using all efforts to advance the property into commercial production.
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QUALIFIED PERSON: William Bond, M.Sc., Geol. and VP Exploration for Global is the Qualified Person (QP) under NI 43-101 responsible for the Strieborna exploration program. He has verified the drill results and other data disclosed in this news release, including sampling, analytical and test data. Field work has been conducted under his supervision. All samples were submitted to ALS Minerals for analysis in Rosia Montana, Romania and Vancouver, Canada. Gold samples were analyzed by fire assay and atomic absorption spectroscopy with a 30 gram nominal sample weight. Silver, Copper, and Antimony were analyzed by induction coupled plasma - atomic emission spectroscopy (ICP-AES) using four acid digestion methods. Mercury values were analyzed by induction coupled plasma - atomic emission spectroscopy (ICP-AES) using an aqua regia leach. Quality control and quality assurance protocols were incorporated with the submitted samples which included standards, blanks, and duplicate analysis.
FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.
FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Readers are advised that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately. Readers should refer to the annual information form of Global for the year ended June 30, 2010 and other continuous disclosure documents filed by Global since September 30, 2010 available at www.sedar.com, for this detailed information, which is subject to the qualifications and notes set forth therein.