Crater Lake Scandium Project
06 August 2024 - 11:29PM
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 inform shareholders
as regards work undertaken by Scandium Canada Ltd. on
their
adjoining property to Globex’s Crater Lake area property.
Scandium Canada reported (click to Scandium press release)
that they have completed two separate types of drill programs at
their Crater Lake Scandium Project located 200 km ENE of
Schefferville, Quebec (13M05).
The drilling campaign had two objectives. The
first objective, the drilling of 6 geo-mechanical holes totalling
1,669 m, was completed to determine the optimal angles of the
slopes of a proposed open pit design for a pre-feasibility
study.
The second objective, 1,185 m in 7 drill holes,
was to confirm the potential extension of the TG Zone for an
additional 250 metre length. The company reported “mineralization
is present in all holes.”
Globex is pleased that Scandium Canada Ltd. is
moving forward with advancing this logistically remote project. The
scandium orebody is located within the northwest portion of a
circular magnetic structure (see mag map below), the northern half
of which is owned by Scandium Canada Ltd. and the southern half by
Globex. Numerous occurrences of scandium and rare earths are
located on Globex’s property. Globex undertook a Terraquest
Fixed-Wing, High Resolution Horizontal Aeromagnetic Gradient and
Matrix-Plus VLF-EM Survey of its claims in order to better define
the ore bearing structure on our property. As our neighbour
advances their project, the intrinsic value and potential of
Globex’s property is enhanced. Globex must now decide to either
advance the property by itself or seek a qualified partner.
Location of grab samples on the property
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 50 9LEI 529900XYUKGG3LF9PY95 |
For further information, contact: |
Jack Stoch, P.Geo., Acc.Dir.President & CEOGlobex Mining
Enterprises Inc.86, 14th StreetRouyn-Noranda, Quebec Canada J9X
2J1 |
Tel.: 819.797.5242Fax: 819.797.1470 info@globexmining.com
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.
An image accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1ef96902-292a-470e-b873-041de1c036f5
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