G1M – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF – OTCQX International) In March 2019 Globex drilled eight mainly shallow holes on the Francoeur/Arntfield
PRESS RELEASE
Globex Mining Enterprises Inc.
“At Home in North America”
51,285,077 shares issued and outstanding
May 24, 2019
Follow-Up on IP Anomalies on Francoeur/Arntfield Property
Rouyn-Noranda, Québec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange,
G1M – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz Stock Exchanges and GLBXF –
OTCQX International) In March 2019 Globex drilled eight mainly shallow holes on the Francoeur/Arntfield
property located approximately 20 km west of Rouyn-Noranda, Quebec in Beauchastel Township.
The objective of the drilling was to follow -up on anomalies identified by a recent induced polarization
survey undertaken by Globex south of the Francoeur- Wasa Fault. It was hoped that the anomalies were
caused by sulphide mineralization, principally pyrite with gold, as had previously been discovered at the 450
Gold Zone and South Zone by surface stripping and channel sampling.
Most of the drill holes intersected disseminated pyrite with gold values as follows:
Hole Target Length (m)* Gold (g/t) Comment
FS-19-46 South Shear IP Anomaly 1.50 2.10 South Zone
FS-19-47 South Shear IP Anomaly 3.00 2.45 Francoeur-Wasa Main Fault
FS-19-48 450, East Extension IP
1.00
1.05
1.50
1.35
1.71
3.33
182 m East of 450 Zone
FS-19-49 450, West Extension IP - - 118 m West of 450 Zone
FS-19-52 450, East Extension IP 0.90
1.20
1.06
1.38 83 m East of 450 Zone
FS-19-53 450, East Extension IP
1.00
1.50
3.00
2.04
1.18
0.96
282 m East of 450 Zone
FS-19-50 IP Anomaly - Nil -
FS-19-51 IP Anomaly 1.50 1.24 -
*True widths are estimated to be 80% of Core lengths.
While gold was encountered in many of the drill holes, the intersections of up to 3.33 g/t Au over 1.50
metres were disappointing. Holes 48, 49, 52 and 53 were drilled on induced polarization anomalies which
trended through the area of the 450 Gold Zone and along strike. No drill holes were drilled under the 450
Gold Zone area that was stripped and channel sampled returning 7.04 g/t Au over 9.5 m, 6.68 g/t Au over
5.4 m, 2.08 g/t Au over 4.90 m and 4.34 g/t Au over 5.05 m as reported in Globex’s press release dated
October 16, 2018.
2
Mapping last summer indicated a series of northeast structures through the 450 Gold Zone area. It is now
considered that these cross cutting s tructures may control the g old mineralization within the east-west
north dipping shear and the four drill holes were to o widely spaced to target the intersection of the two
control structures.
Two holes were also drill ed through the South and Francoeur-Wasa Shears. Hole FS- 19-46 intersected 2.10
g/t Au over 1.5 m and hole FS-19-47, 2.45 g/t Au over 3.00 m.
While disappointed in finding that the induced polarization anomalies did not demonstrate high grade gold
values, we are now able to focus on identifying and testing the control structures of the mineralization
which may be northeast trending cross-cutting structures inside the main east west shears.
This press release was written by Jack Stoch, Geo., President and CEO and Pierre Riopel, Geo., Exploration
Manager for Globex Mining Enterprises, in their capacity as a Qualified Persons (Q.P.) under NI 43-101.
Laboratory and Analytical Method:
Sample Preparation
All samples were delivered to Expert Laboratories Inc., located at 750 -A rue Saguenay, Rouyn -Noranda,
Quebec. The laboratory conducted all aspects of the sample preparation. Samples were dried and crushed
to 90% passing a -10 mesh s creen. A 300 -gram subsample was taken for pulverization to a nominal 90%
passing -200 mesh with the remaining crushed rejects being retained.
Gold Assaying
A 29.166- gram sub -sample of this pulp (1 assay -ton) was taken and was fused following the standard
procedures used in a fire assay method. The gold content of all samples was determined using Atomic
Absorption Spectroscopy (Method Code: Au FA- GEO, lower d etection limit 5 ppb). Any samples found to
contain greater than 1 g/t Au were subjected to a re-assay, whereby the gold content was determined using
a gravimetric fire assay method.
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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
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 a ctivity 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