Globex Acquires a Manganese-Iron Asset in New Brunswick
ROUYN-NORANDA, QUEBEC--(Marketwire - Aug. 31, 2010) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to inform shareholders that it has acquired 100% interest in a block of 28 claims covering 588 hectares and a strike length of 6 km in the Woodstock area of New Brunswick.
The claim block covers a horizon of historic manganese-iron mineralization which was previously mined at a small scale for the iron content and is an extension of the horizon containing the historical Plymouth and North and South Hartford manganese-iron zones to the south.
The property covers the Iron Ore Hill, Moody Hill and Sharp Farm manganese-iron zones which have reported historical, non NI 43-101 resources reported as 25 million tons, 10 million tons and 8 million tons respectively and possibly the northern end of the South Hartford zone (50 million tons). The resource figures are based upon work by Strategic Materials Corporation (Stratmat) done in 1957 and reported in "The Mandate Project, Woodstock, N.B." dated December 17, 1969 by W.J. Wark available in New Brunswick Government files (Note: A Report by K.O.J. Sidwell titled "The Woodstock, N.B., Iron-Manganese Deposits" published in 1957 also states that the South Hartford deposit contains 50 million tons of manganese-iron mineralization). The resource figures should not be relied upon as Globex staff does not have access to the historical data required to in part, validate the reported resource. Globex became interested in manganese following a call from a shareholder who suggested that since we already had much of the Periodic Table of the Elements, we should consider acquiring manganese due to the lack of a North American producer and its absolute necessity in the production of steel. We studied a number of manganese occurrences and acquired the present land package after receiving the results of the analysis of two large select samples from the Iron Ore Hill Zone which returned 41.41% and 42.86% manganese oxide (MnO). The first sample was analysed by Activation Laboratories of Ancester, Ontario and the second by the Mineral Engineering Center of Dalhousie University in Halifax, Nova Scotia. Subsequently, a series of 66 semi continuous chip samples ranging from 1 to 2 metres in width each were taken along a public road near the Iron Ore Hill Zone. The sample assays ranged from a low 1.09% MnO to a high of 26.15% MnO with several sizeable continuous sections in the +15% MnO and above range. Iron Oxide (Fe2O3) content ranged from a low of 7.74% to a high of 33.27% Fe2O3 with the higher iron assays in many cases corresponding with the higher MnO values.
Historically, nearby deposits such as those found in the geological formation which traverses Globex's property grade approximately 10% MnO and 17% Fe2O3. Considering the strategic nature of manganese, the lack of a North American source and the location of the deposit near skilled labour and rail and highway access, we believe the property warrants a modern approach especially in regard to new hydrometallurgical applications.
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 10 3
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 Companies expectations and projections. A more detailed discussion of the risks is available in the "Annual Information Form" filed by the Company on SEDAR at www.sedar.com
20,197,674 shares issued and outstanding.
For more information, please contact 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
GLOBEX: Test Work on Refractory Gold Ore Highly Successful
ROUYN-NORANDA, QUEBEC, CANADA--(Marketwire - Sept. 22, 2010) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) is pleased to provide an update on its 75% Globex, 25% Drinkard Metalox (DMI) joint venture regarding the application of hydrometallurgical technologies to refractory gold ores. (See press release April 22, 2010)
Since the announcement of the joint venture we have incorporated a new company called Eco Refractory Solutions Inc. (75% Globex and 25% DMI) which will serve as the technical and marketing vehicle for the gold recovery process.
We were solicited by a number of companies, both public and private, regarding test work for refractory gold ores and tailings, both in North America and beyond.
Test work was initiated upon a sizable sample of refractory gold bearing core from a mining company's large tonnage, low grade gold deposit. Results indicated gold recoveries in the 95% range were possible. Due to this initial success, a technical confidentiality agreement was signed with the mining company and test work was initiated upon a 5kg sample of gold bearing concentrate from the refractory gold deposit. This test work indicated gold recoveries of up to 98.5% are possible. The success of the second phase of testing has resulted in the client deciding to proceed with a third phase program involving a larger sample of refractory gold concentrate. Work will begin upon delivery of the concentrate sample. The new test work will be closely monitored by the client as it will demonstrate, in a step by step manner, all aspects of the process including the superior environmental benefits of the method.
The gold recovery achieved is equal to or better than the gold recovery from free milling gold ores using conventional recovery methods and sets a new standard for the possible recovery of gold from refractory gold ores and/or concentrates.
We are very pleased with the gold recoveries achieved from both the core and concentrate of our first client and we look forward to better defining the process application to this particular ore body.
Eco Refractory Solutions Inc (ERS) has also signed a number of new technical confidentiality agreements with other interested parties and has fielded enquiries from several additional companies.
ERS believes that our process can deliver high gold recoveries from refractory ores with lower capital and operating costs and less environmental impact than other methods.
Refractory Gold Ores and the Eco Refractory Solutions Advantage
The term refractory when applied to gold in ores or concentrates means that recovery of the gold is impeded due to the presence of substances that consume reagents before the gold can be dissolved and preferentially adsorbed in a process called preg-robbing or that the gold particles are very fine and distributed in such a manner that leach solutions cannot come in contact with the gold. Many of such ores contain appreciable quantities of arsenopyrite, pyrite, pyrrhotite or other sulphides which create environmental problems such as mine acid drainage and/or the release of arsenic into tailings.
Numerous such refractory ore deposits exist which are not being mined due to low gold recoveries using standard recovery methods or environmental problems related in particular to the potential release of arsenic into the environment. Also, a large number of gold mine tailings containing significant unrecovered gold are scattered around the world which may benefit from the utilisation of our method.
The Eco Refractory Solutions Inc. hydrometallurgical process is expected to provide numerous benefits. Capital and operating costs are projected to be significantly lower than other methods. The process is in large part a closed system regenerating and recycling the principal reagents. In addition, problems related to the release of arsenic into the environment and acid mine drainage are solved by the transformation of the arsenic and the oxidation of sulphides into environmentally stable forms.
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 10 3
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 Companies expectations and projections. A more detailed discussion of the risks is available in the "Annual Information Form" filed by the Company on SEDAR at www.sedar.com
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