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ROUYN-NORANDA, QUEBEC, CANADA, Oct 04, 2011 (MARKETWIRE via COMTEX) — GLOBEX MINING ENTERPRISES INC. CA:GMX 0.00% (frankfurt:G1M)(otcqx:GLBXF) is pleased to provide shareholders with information regarding a recent drill hole completed on our 100% owned Beacon claim, east of Val D’Or, Quebec based upon recent geological interpretation.
Globex undertook a drill hole to intersect the Bourlamaque granodiorite batholith near its contact with volcanic units. The 426 metre drill hole intersected 5.19 g/t Au over 2.9 m including 8.68 g/t Au over 1.5 m in a broader gold zone grading 3.72 g/t Au over 4.4 m from 394.6 m to 399.0 m in the hole. The intersection of coarse disseminated pyrite is at a vertical depth of 260 metres. The mineralized contact area is untested in all directions for a strike distance of at least 450 metres. The same granodiorite contact area hosts the Wrightbar Gold Mine (a 100% owned Globex property) and the Beacon Gold Mines to the southwest and Richmont’s Beaufor Gold Mine and the Courvan Gold Mine to the north. As only one hole has been completed to date, the true width is unknown.
Globex intends to do additional drilling on this discovery.
The Beacon drilling program was planned and supervised by Globex’s Consulting Geologist and qualified person Richard Cote, ing. employing a QA/QC program consistent with National Instrument 43-101 and industry best practices. The drill core was logged and split with half-core samples analyzed employing the appropriate gold fire assaying techniques by Expert Laboratory Inc. of Rouyn-Noranda, Quebec.
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.
