ROUYN-NORANDA, Quebec, Dec. 05, 2023 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to provide shareholders with an update of the inaugural drill results from holes completed by Brunswick Exploration Inc. (TSXV-BRW, BRWXF- OTCQB) on Globex’s Lac Escale (Mirage) lithium royalty property in the Eeyou Istchee-James Bay region of Quebec, Canada (NTS 33H09).
Brunswick has completed 36 drill holes designed to test, at shallow vertical depths of less than 150 metres, pegmatite dykes outlined in mapping of surface outcroppings, to determine their geometry and orientation. In total 5,090 metres was drilled with 33 of the 36 holes intersecting mineralized pegmatites. Mineralized pegmatites were intersected along three major NE-SW axis within a two-by-two kilometres area along a strike length of 1.5 kilometres. The three axes are termed the North, Central and South Zones.
Intersections include Bonanza grades and significant widths such as:
2.57% Li2O over 25.8 m in drill hole MR-23-02 including 3.08% li2O over 14.2 metres at a vertical depth of 28 metres in the North Zone
2.18% li2O over 24.8 m in drill hole MR-23-01 also in the North zone
2.75% Li2O over 16.2 m in hole MR-23-14 including 3.30% Li2O over 9.5 m at a vertical depth of 40 metres in the South Zone
An intersection of 1.06% Li2O over 50.6 m in hole MR-23-07 at a vertical depth of 22 metres in the Central Zone.
Below is the list of lithium assays as reported in Brunswick’s press release of December 4, 2023 (click to access Brunswick Press Release).
| Hole ID | Zone | Dyke | From (m) | To (m) | Length (m) | Li2O% | Ta2O5 (ppm) |
| MR-23-01 | North | MR-1 | 40.0 | 64.5 | 24.5 | 2.18 | 228 |
| incl. | MR-1 | 42.5 | 52.0 | 9.5 | 3.06 | 202 | |
| MR-23-02 | North | MR-1 | 8.8 | 34.6 | 25.8 | 2.57 | 239 |
| incl. | MR-1 | 8.8 | 23.0 | 14.2 | 3.08 | 268 | |
| MR-23-03 | North | MR-2 | 23.3 | 29.5 | 6.2 | 1.12 | 227 |
| MR-23-04 | North | MR-2 | 27.8 | 30.3 | 2.5 | 0.52 | 141 |
| MR-23-05 | Central | MR-3 | 5.5 | 45.8 | 40.3 | 0.86 | 87 |
| incl. | MR-3 | 5.5 | 15.5 | 10.0 | 1.48 | 99 | |
| Incl. | MR-3 | 39.5 | 45.8 | 6.3 | 1.16 | 148 | |
| MR-23-06 | Central | MR-3 | 17.7 | 55.1 | 37.4 | 1.02 | 93 |
| incl. | MR-3 | 42.6 | 48.1 | 5.5 | 2.23 | 135 | |
| MR-23-07 | Central | MR-3 | 22.0 | 72.5 | 50.6 | 1.06 | 105 |
| incl. | MR-3 | 30.7 | 43.2 | 12.5 | 1.76 | 192 | |
| MR-23-08 | Central | MR-3A | 10.6 | 12.7 | 2.1 | 0.33 | 112 |
| MR-23-09 | Central | MR-3 | 66.0 | 77.3 | 11.3 | 0.89 | 69 |
| MR-23-10 | Central | MR-3 | 39.4 | 87.2 | 47.8 | 0.99 | 80 |
| incl. | MR-3 | 39.4 | 52.4 | 13.0 | 1.29 | 81 | |
| Incl. | MR-3 | 79.4 | 87.2 | 7.8 | 1.55 | 73 | |
| MR-23-11 | Central | MR-3 | 83.8 | 118.6 | 34.9 | 1.01 | Assay pending |
| incl. | MR-3 | 98.7 | 106.0 | 7.3 | 1.75 | ||
| MR-23-12 | Central | MR-3 | 92.0 | 133.1 | 41.1 | 1.04 | 94 |
| incl. | MR-3 | 103.0 | 109.0 | 6.0 | 2.49 | 203 | |
| MR-23-14 | South | MR-4 | 46.5 | 62.7 | 16.2 | 2.75 | 98 |
| incl. | MR-4 | 52.5 | 62.0 | 9.5 | 3.30 | 113 |
Holes 13 and 15 through 36 are pending.
Globex is pleased with the success demonstrated by Brunswick’s initial drill program results and looks forward to assays from the remaining 23 holes yet to be reported. Brunswick has indicated that they intend to drill an additional 15,000 metres in the next exploration program and to this end, have established a winter camp on the property.
Globex maintains a 3 % Gross Metal Royalty on the Lac Escale portion of the Mirage property and a 1- kilometer area extending outward from the Globex royalty claim boundaries. All the drill intersections reported herein are within the Globex royalty area.
As reported in a November 28, 2023, Globex press release, Brunswick has prepaid all cash and share option payments in order to lock up 100% interest in the Globex claims subject only to the 3% GMR royalty and a $100,000 per year advance royalty.
Surface plan of the Lac Escale (Mirage) area currently drilled.
Cross Section Along Central Zone
Cross Section Along North Zone
Cross Section Along South Zone
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 |
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| 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 [email protected] 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.
Photos accompanying this announcement are available at:
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