Chibougamau Independent Mines Intersects Wide High Grade Zones of Copper and Gold Mineralization Extending the C-3 Zone to Depth
Chibougamau Independent Mines Intersects Wide High
Grade Zones of Copper and Gold Mineralization Extending
the C-3 Zone to Depth
April 22, 2019 - Rouyn-Noranda, Quebec, Canada. CHIBOUGAMAU INDEPENDENT MINES INC. (CBG-
TSX-V in Canada, CLL1 -Frankfurt, Stuttgart and Lang & Schwarz Stock Exchanges in Germany,
CMAUF-OTC in the US) and GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Excha nge,
G1M – Frankfurt, Stuttgart, Berlin, Munich, Lang & Schwarz and Tradegate Stock Exchanges in
Germany and GLBXF – International OTCQX in the US) are pleased to report to shareholders the
results of analysis of two drill holes completed on the 100% Chibougamau Independent Mines Inc.
owned C -3 Zone on the Bateman Bay property located in McKenzie township, east of the Town of
Chibougamau, Quebec. Globex Mining Enterprises Inc. holds a 3% Gross Metal Royalty on the
Bateman Bay property and most of the other Chibougamau Independent Mines assets as a result of
the spin out of Chibougamau Independent Mines Inc. to Globex shareholders . For additional
information regarding the drill holes, please see the Chibougamau/Globex press release dated April 4,
2019 at https://www.globexmining.com/news.php.
Drill hole BJ -19-17 intersected the C -3 Zone at a vertical depth of 340 metres (1, 115 ft), 80 metres
(262 ft) below and 25 metres (82 ft) southeast of drill hole BJ-16-16 which returned 3.61% Cu, 1.72
g/t Au and 11.9 g/t Ag over 12.5 metres (41.0 ft).
Hole BJ -19-17 returned two intersections of 3.46% Cu, 2.75 g/t Au and 10.8 1 g/t Ag over 12.47
metres (40.9 ft) and 8.49 % Cu, 7.55 g/t Au and 49.22 g/t Ag over 5.90 metres (19.36 ft) from 375.60
metres to 388.07 metres and 391.70 metres to 397.60 metres respectively.
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The assays in hole BJ-19-17 are as follows:
Hole BJ-19-17
From (m) To (m) Length (m) Copper (%) Gold (g/t) Silver (g/t)
375.60 376.30 0.70 2.11 1.34 5.90
376.30 377.20 0.90 0.71 0.44 2.80
377.20 378.00 0.80 2.73 1.12 6.90
378.00 378.86 0.86 2.34 0.28 7.60
378.86 379.92 1.06 7.57 1.69 18.90
379.92 380.80 0.88 2.05 0.25 5.60
380.80 381.50 0.70 1.41 0.37 3.60
381.50 382.52 1.02 3.55 0.68 9.50
382.52 383.27 0.75 2.74 0.89 8.90
383.27 383.97 0.70 5.04 2.03 14.60
383.97 384.63 0.66 3.18 1.89 9.70
384.63 385.50 0.87 1.99 0.98 5.80
385.50 386.32 0.82 7.92 1.11 24.90
386.32 387.45 1.13 1.77 0.49 4.80
387.45 388.07 0.62 7.15 37.37 39.90
375.60 388.07 12.47 3.46 2.75 10.81
388.07 389.35 1.28 0.20 0.22 0.80
389.35 390.65 1.30 0.04 1.15 0.90
390.65 391.70 1.05 1.69 0.63 4.10
388.07 391.70 3.63 0.57 0.67 1,79
391.70 392.70 1.00 9.25 18.58 70.00
392.70 393.70 1.00 10.77 15.98 62.10
393.70 394.70 1.00 9.63 1.55 56.20
394.70 395.70 1.00 10.54 2.93 59.40
395.70 396.77 1.07 7.22 3.29 31.20
396.77 397.60 0.83 2.62 2.36 11.20
391.70 397.60 5.90 8.49 7.55 49.22
The combined copper, gold and silver zones, including the section between them which averaged 0.57% Cu,
0.67 g/t Au and 1.79 g/t Ag, averaged the following:
Average:
375.60 m 397.60 m 22.00 m 4.33% Cu 3.69 g/t Au 19.62 g/t Ag
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Hole BJ-19-18 also intersected the C -3 Zone, at a vertical depth of 4 50 metres (1,476 ft), 40 metres
(131.2 ft) southeast and 110 metres (361 ft) below BJ-19-17.
Hole BJ-19-18 returned 7.70% Cu, 3.58 g/t Au and 33.25 g/t Ag over 9.2 metres (30.2 ft) from 496.5
metres to 505.7 metres.
Hole BJ-19-18
From (m) To (m) Length (m) Copper (%) Gold (g/t) Silver (g/t)
496.50 498.20 1.70 2.16 1.81 13.70
498.20 499.35 1.15 7.33 1.29 29.10
499.35 500.60 1.25 9.91 1.55 37.80
500.60 501.72 1.12 4.29 7.41 21.00
501.72 502.85 1.13 15.32 1.59 60.60
502.85 504.00 1.15 11.10 1.18 48.20
504.00 505.00 1.00 7.45 13.30 39.00
505.00 505.70 0.70 5.73 2.37 22.10
Average 9.20 7.70 3.58 33.25
Chibougamau Independent Mines Inc. and Globex Mining Enterprises Inc. are extremely pleased
with the results of drilling to date on the C-3 Zone which has now been shown to extend to at least
from surface to a vertical depth of 450 metres (1,476 ft) and is open in all directions on strike to the
northwest and southeast and to depth. We are particularly pleased with the gold content which in
individual assays reaches up to 37.37 g/t Au over 0.62 m (2.03 ft), 18.58 g/t Au over 1 m (3.28 ft)
and 15.98 g/t Au over 1 m (3.28 ft) in hole BJ-19-17 and 13.30 g/t Au over 1.0 m (3.28 ft) in hole BJ-
19-18.
Interestingly we analyzed for cobalt in the area of mineralization. In hole BJ-19-18 the cobalt content
averaged 0.031% Co over 14 m (45.93 ft) including 0.033% Co over the 9.20 m (30.2 ft) of the
mineralized zone. In hole BJ -19-17 the cobalt content over the two mineralized sections assayed
0.023% Co over 12.47m (40.9 ft) and 0.022% Co over 5.9m (19.36 ft). More work needs to be done
regarding this potential byproduct.
As yet, the true width of the C -3 Zone intersections has not been determined but is thought to be
from 55% to 65 % of the intersection widths.
Jack Stoch, P.Geo. President and CEO of Gl obex Mining Enterprises Inc. and Chibougamau Independent Mines
Inc. wrote this press release in his capacity as QP under applicable regulations.
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Laboratory and Assay Methods
Chibougamau Independent Mines’ c ore sampling including the quality assurance/qua lity control
program is performed internally by Chibougamau Independent Mines personnel under the immediate
supervision of Chibougamau Independent Mines project geologist. The samples are prepared in the
field, they are tagged and sealed in plastic bags an d are delivered directly by Chibougamau
Independent Mines personnel to Expert Laboratories Inc, located at 750-A, rue Saguenay, Rouyn -
Noranda. The laboratory conducts all aspects of the sample preparation including drying and
crushing to a minus 10 mesh s creen size and the processing of a 300 gram sub sample for
pulverization to a nominal minus 200 mesh size with the remaining crushed reject material being
retained for storage. For gold assaying, a 29.16 gram sub-sample of the pulp (1 assay -ton) is taken,
fused following the standard procedures used in a fire assay method. The gold content of all samples
is determined using atomic Absorption Spectroscopy. Samples containing greater than 3gpt gold are
subjected to a re -assay whereby the gold content is det ermined using a gravimetric fire assay
method. F or base metal assaying (copper , zinc including silver and cobalt ) a 0.5g sample is initially
treated by aqua regia digestion with nitric and hydrochloric acid and subsequently analyzed by a
spectrometer of atomic absorption finish.
Analytical accuracy and precision are monitored by the routine insertion of blanks, duplicates and
reference accredited low/high grade standards at 20 sample intervals in Chibougamau Independent
Mines’ sample stream .This is in ad dition to the routine blanks, duplicates (gold, silver, copper, zinc
and cobalt ) and accredited standards insertion by Expert Laboratories during the course of the
assaying process.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of the release.
We Seek Safe Harbour. Foreign Private Issuer 12g3 – 2(b)
CUSIP Chibougamau Independent Mines - CBG-V 167101 10 4
CUSIP Globex Mining Enterprises - GMX 379900 50 9
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
Chibougamau Independent Mines 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 Companies expectations and projections. A more detailed discussion of the risks is available in the current Globex’s “Annual Information Form”
available on SEDAR at www.sedar.com