More High-grade Gold Results from Globex’s Ironwood Project
PRESS RELEASE
Globex Mining Enterprises Inc.
“At Home in North America”
56,065,836 shares issued and outstanding
December 11, 2024
More High-grade Gold Results from Globex’s Ironwood Project
Rouyn-Noranda, Qu ebec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange,
G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf
and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to provide
additional drill results from Globex’s infill drill program at Globex’s 100% owned Ironwood gold project in
Cadillac Township, Quebec, approximately 2.6 km east of the town of Cadillac.
As in our recent press release of December 4 th, we continue to intersect significant gold mineralization in a
pyrite, pyrrhotite arsenopyrite sulphide replacement zone at the nose of an oxide iron formation fold at
depths between 9 m and approximately 225 m vertical. The three drill hole assay results reported today are
from shallow holes positioned to establish the near surface boundaries of the mineralized envelope. Drill
results to date indicate that the mineralized envelope widens to depth and toward the center of the orebody.
This is demonstrated by recently reported hole SIW 24 -03 which returned 16.63 g/t Au over 11. 08 m true
width at a depth of 165 m vertical while narrowing toward the shallow sub outcrop interface as shown in
the reported assays below and edges shown by previously reported hole SIW 24 -01, which returned
21.78 g/t Au over 2.62 m true width at a vertical depth of 142 m . Historical drilling by Globex also reflects
this.
Current assay results are the following:
Hole
Number
From
(m)
To (m) Core
length(m)
True
Widths(m)
True
Widths (ft)
Grade
(g/t) Au Remarks
NIW-24-02 22.4 26.0 3.6 2.01 6.59 16.30
South Zone close to sub
outcrop at a vertical depth of
approximately 20m.
NIW-24-03 13.2 16.6 3.4 1.77 5.80 30.26
South Zone close to sub
outcrop at a vertical depth of
approximately 15 m.
NIW-24-03 33.5 37.7 4.2 2.20 7.21 7.50
North Zone close to sub
outcrop at a vertical depth of
approximately 30 m.
NIW-24-04 21.9 22.9 1.0 0.5 1.64 28.03
South Zone close to sub
outcrop at a vertical depth of
approximately 20 m.
NIW-24-04 50.0 50.6 0.6 0.3 0.98 10.18
North Zone close to sub
outcrop at a vertical depth of
approximately 45 m.
NIW-24-04 58.8 59.4 0.6 0.3 0.98 18.13
High grade value close to sub
outcrop at a vertical depth of
approximately 55 m.
2
Globex has currently completed 18 holes and reported 7 mainly boundary drill holes. Core logging and core
sawing are continuing, and samples are being sent to MSALABS at 13, rue Turgeon, Val-d’Or, QC, J9P 0A2.
The Ironwood gold deposit is located on Globex’s 100% owned Central Cadillac -Wood Gold Mines property.
The property encompasses the former Central Cadillac and Wood Gold Mines. Globex has digitized all the
previous drill data and assigned a senior geologist to review and reinterpret the data to outline gold trends
and drill targets particularly to depth along the gold localizing Cadillac Break. These deposits are along trend
and adjoining of the O’Brien gold project , currently being drilled by Radisson M ining Resources Inc. (RDS-
TSXV), on which Globex currently holds two (2) royalties, 1% N SR on the New Alger gold deposit and 2%
NSR on the Kewagama gold deposit, which directly adjoins our Central Cadillac-Wood Gold Mines property
to the west.
Lab information
The samples were crushed to a particle size of 70% passing through a two-millimeter sieve, and then a 500-
gram portion was taken for gold analysis by gamma ray (photon assay). According to MSALABS’ internal
procedure, blank samples and certified reference materials are systematically inserted into the analysis
sequence. Globex procedures also used blank and duplicate sample as well as certified reference materials.
MSALABS operates several laboratories worldwide and holds ISO -17025 accreditation for numerous metal
determination methods, including the photon assay method.
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 with technical input from Pierre Riopel, P.Geo.
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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 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 SEDARplus.ca