ROUYN-NORANDA, Quebec, Dec. 20, 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 report that Infinico Metals Corp” (INFM-TSXV), formerly called Burin Gold Corp., has made a discovery of significant lithium mineralization on the Dalhousie property located 180 km northeast of Val-d’Or, Quebec currently under option from Globex. The Dalhousie property is an advanced nickel, copper, cobalt exploration property with mineralization on surface and in drill holes over an approximate 6 km strike length. The discovery of lithium mineralization on the property significantly expands the diverse economic potential of the property. Grab samples are reported by Infinico to assay up to 4.45% Li2O. Six grab samples results are listed below.
Assay results from surface grab sampling program, per Infinico
| Sample ID | Sample Type | Rock Type | Li2O* (%) |
Cs (ppm) |
Ta2O5** (ppm) |
| K28401 | Rock Chip | Pegmatite | 0.92 | 41.10 | 21.2 |
| K28402 | Rock Chip | Pegmatite | 1.59 | 33.30 | 44.8 |
| K28403 | Rock Chip | Pegmatite | 4.39 | 59.40 | 107.6 |
| K28404 | Rock Chip | Pegmatite | 4.45 | 32.90 | 57.5 |
| K28405 | Rock Chip | Pegmatite | 1.37 | 91.90 | 68.5 |
| K28406 | Rock Chip | Pegmatite | 3.91 | 75.40 | 57.0 |
Photograph of the lithium bearing pegmatite sampled during the field work as per Infinico.
Grab samples are selective by nature and are unlikely to be representative of average grades.
(Click here to access today’s Infinico press release)
Globex announced to optioning the Dalhousie NI-Cu-Co property to Infinico (formerly called Burin Gold Corp.) on June 5, 2023. Over a 4-year period, the option agreement requires $500,000 in cash payments ($100,00 received), four million shares (one million received) and $5,000,000 of exploration expenditures. Globex will retain a 3% Gross Metal Royalty (GMR), 1% of which may be purchased by Infinico at any time. (Click here to access the June 5, 2023, press release).
Globex recently staked 49 claims adjoining the discovery property to the north which will be available for option.
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.
55,302,836 shares issued and outstanding
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cdd74b02-c68f-41f4-9951-90732e67cadd
