Globex Mining Enterprises Inc.: Update on Getty Lead-Zinc Deposit in Nova Scotia
11 April 2011 - 11:00PM
Marketwired
GLOBEX MINING ENTERPRISES INC. (TSX: GMX)(FRANKFURT: G1M)(OTCQX:
GLBXF) is pleased to inform shareholders of the updated resource
figures announced by Selwyn Resources Ltd. on the Getty Lead-Zinc
zone, part of the Scotia Mine property purchased by Selwyn from
Acadian Mining Corporation. Globex retains a 1% Gross Metal Royalty
(GMR) on the Getty deposit which is located 1,500 metres west of
mill facilities. (see Globex press release dated February 14, 2011)
Selwyn, in a press release dated March 30, 2011, announced a NI
43-101 compliant resource estimate using a variety of zinc
equivalent cut-off grades. Tonnages and grades varied from
5,720,000 tonnes grading 1.68% Zn and 1.23% Pb in the Measured and
Indicated categories and 1,350,000 tonnes grading 1.52% Zn and
1.31% Pb in the Inferred category, both at a cut-off of 1.50% zinc
equivalent, to 2,160,000 tonnes grading 2.35% Zn and 2.00% Pb in
the Measured and Indicated categories and 460,000 tonnes grading
2.21% Zn and 2.23% Pb in the Inferred category, both at a cut-off
of 3.00% Zn equivalent.
The resource calculation has an effective date of March 28, 2011
and was done by Michael Cullen and Chrystal Kennedy both P.Geos
employed by Mercator Geological Services of Dartmouth, Nova Scotia.
In a subsequent Selwyn press release dated April 6, 2011, Selwyn
stated: "The recently completed Getty deposit mineral inventory
also indicates the potential for open pit mining in that area, so
with additional drilling and engineering studies, the mineral
resources may have the potential to expand the longevity of the
Scotia Mine".
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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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
22,027,675 shares issued and outstanding
Contacts: Globex Mining Enterprises Inc. Jack Stoch, P.Geo.,
Acc.Dir. President & CEO 819-797-5242 819-797-1470 (FAX)
info@globexmining.com www.globexmining.com
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