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Globex Acquires Royalty on Large Quebec Land Package
T.GMX | 10 hours ago
ROUYN-NORANDA, Quebec, Oct. 25, 2021 (GLOBE NEWSWIRE) --
$GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN –
Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS
Exchange, TTMzero, Düsseldorf and Quotrix DüsseldorfStock Exchangesand
GLBXF – OTCQX International in the US) is pleased to inform
shareholders that it has acquired a 2% royalty equivalent to a Gross
Metal Royalty (GMR) herein called “the RN Mining Camp Royalty” covering
a significant length of the Cadillac Break east of Rouyn-Noranda and an
additional large block of claims northwest of Rouyn-Noranda (See map
attached).
Globex initially entered into discussions with the estates of two well-
known and respected prospector/entrepreneurs following the purchase by
Globex of the Rouyn Merger Gold Property (see press release dated
August 5, 2021) on which a 2% royalty was held by the estates.
Globex was successful in acquiring the royalty and thus eliminating it
on the 6.5 kilometers of the Cadillac Break, numerous gold occurrences
and zones and surrounding rocks which are within the Rouyn Merger
property boundary.
In the same purchase, Globex acquired royalty interests which extends
both east and northwest of the Rouyn Merger property including on the
Heva-Hosco Gold Property owned by Hecla Quebec Inc.
This Heva-Hosco property includes the following NI 43-101 gold resources
as reported by Hecla Mining Co.:
Heva Indicated Resources
Inferred Resources 1,266,000 Tons @ 0.06 oz/ton Au (1.866 g/t Au)
2,787,000 Tons @ 0.08 oz/ton Au (2.488 g/t Au)
Hosco Indicated Resources
Inferred Resources 29,287,000 Tons @ 0.04 oz/ton Au (1.244 g/t Au)
17,726,000 Tons @ 0.04 oz/ton Au (1.244 g/t Au)
(Source : Hecla Mining Web site, ‘’as at December 30, 2020 ‘’)
To the northwest and adjoining to the Rouyn Merger property, an
additional large block of claims held by Falco Resources Ltd. is also
subject to the 2% royalty, covering, in part, the Horne Creek Fault.
The 2% royalty also applies to a very large block of claims northwest of
Rouyn-Noranda covering the gold hosting Flavrian tonalite pluton and
basic and felsic volcanic rocks along the western boundary of the
pluton, all currently held by Falco Resources Ltd.
This royalty area includes numerous showings and drill indicated areas
of gold and base-metal mineralization both in the pluton and within the
volcanic rocks.
Globex is pleased to have acquired the royalty which was paid for by the
issuance of 150,000 Globex shares.
Both Falco and Hecla have been notified of Globex’s royalty purchase.
Please see the adjoining map which shows the RN Mining Camp Royalty
purchase area outlined in black and other royalties and properties held
in the immediate area by Globex.
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
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
info@globexmining.com
http://www.globexmining.com
Forward Looking Statements: Except for historical information, ----A
more detailed discussion of the risks is available in the “Annual
Information Form” filed by Globex on SEDAR at www.sedar.com.
A map accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/85bf5c78-5567-48a6-95d0-9fedb47eb487
Globex, Rouyn Noranda Area, Quebec, Royalty and Property Holdings
Have a great day!
Jack Stoch
Find out more about Globex here.
Entreprises minières Globex Mining Enterprises Inc.
86, 14e Rue
Rouyn-Noranda, Québec J9X2J1
Canada
http://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.
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