| Globex Gains Two New Partners at Wood Pandora, Additional Royalty Not Given | |
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ROUYN-NORANDA, QUEBEC--(Marketwired - Jun 18, 2014) - GLOBEX MINING ENTERPRISES INC. (GMX.TO)(FRANKFURT:G1M)(GLBXF) wishes to welcome Agnico Eagle Mines Ltd. and Yamana Gold Inc. as exploration partners on the Wood Pandora project in Cadillac Township, Quebec.
The Wood Pandora project covers 4 km of the gold localizing Cadillac Break and includes the historical Central Cadillac, Wood and Pandora #3 gold deposits as well as the Ironwood Gold deposit (243,200 tonnes of inferred resource grading 17.26 g/t Au, see press release dated March 3rd, 2008 and technical report filed on SEDAR March 19th, 2008). Globex owns 50% interest in the project and is project manager. Currently, we are initiating a new surface exploration program consisting of rock sampling of all outcrop exposures on the 751 hectare property as well as a review and update of historical drill data in order to assess the properties' potential for outlining a large tonnage, low grade gold deposit similar to the huge Malartic Gold Mine. Previous work was directed toward deep exploration looking for a gold deposit similar to the neighboring Lapa Gold Mine. Numerous high-grade gold intersections have been intersected as reported in Company press releases. Previous surface exploration resulted in the discovery of the Ironwood Gold deposit on a structure north of and separate from the Cadillac Break.
Previously Osisko Mines announced that as part of the purchase of Osisko Mines by Yamana and Agnico Eagle, the new company, Osisko Gold Royalties Ltd. would retain a two percent (2%) net smelter royalty on the Wood Pandora Property. The Joint Venture Agreement, originally signed with Queenston Mining Inc. and assumed by Osisko Mines in 2012, does not allow for the issuance of royalties to third parties. Upon further review of the agreement, it was resolved no additional royalty will be imposed.
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) |
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CUSIP Number 379900 50 9 |
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
40,793,755 shares issued and outstanding
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Globex Mining Enterprises Inc.
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EN DÉVELOPPEMENT |
CODE : GMX.TO |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Globex Mining est une société d’exploration minière de zinc et de cuivre basée au Canada. Globex Mining détient divers projets d'exploration au Canada. Son principal projet en développement est FABIE BAY au Canada et ses principaux projets en exploration sont BATEMAN BAY, LYNDHURST, POIRIER MINE, RAMP (MAUDE LAKE), MOOSELAND, PACAUD, BEAUCHASTEL-ROUYN, SUFFIELD MINE, VULCAN (GOLD DIKE) - GLOBEX, WEMINDJI, GRAND CALUMET, HUNTERS POINT, GRANDROY, LEIPSIGATE, DELORO, GAYHURST, FISH LAKE, BUCKELL LAKE, MAGNESIUM-TALC, TUT ZONE, FONTANA GOLD PROJECT, EAGLE GOLD PROPERTY, ARNTFIELD, COURVILLE PROJECT, LAKE SIMON, TRANSTERRE, WRIGHTBAR GOLD PROPERTY, TONNANCOUR, LA MOTTE, VICTORIA GOLD PROJECT, SMITH-ZULAPA, HALLIWELL & BM PROPERTIES, LAGUERRE-KNUTSON-RAVEN RIVER, DUPRAT, BLACKCLIFF, DUVAY ZONE, BELL MOUNTAIN, PARBEC, NORDEAU GOLD, RUSSIAN KID (EL COCO), FABIE BAY AND MAGUSI RIVER, GETTY DEPOSIT, WOOD - PANDORA, AUTHIER, CENTRAL CADILLAC, JACOBIE et LAMY MICA au Canada. Globex Mining est cotée au Canada et en Allemagne. Sa capitalisation boursière aujourd'hui est 50,4 millions CA$ (36,9 millions US$, 34,5 millions €). La valeur de son action a atteint son plus bas niveau récent le 07 janvier 2000 à 0,09 CA$, et son plus haut niveau récent le 15 décembre 2006 à 7,76 CA$. Globex Mining possède 48 900 000 actions en circulation. |