ROUYN-NORANDA, QUÉBEC–(Marketwired – Jan. 16, 2018) – Globex Mining enterprises Inc. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to provide shareholders with an update on exploration by Renforth Resources Inc. (CSE:RFR) on Globex's Parbec Gold property located in Malartic township, approximately 4 km northwest and on strike of the large Canadian Malartic open pit gold mine and directly adjoining on the west, the East Amphi Gold deposit. Shareholders are reminded that Renforth on March 7, 2016 issued a press release with a Parbec Property “resource statement prepared pursuant to NI‐43‐101”. The new resource estimate from gold zones which are open to depth is reported as follow:
|Indicated Resource: 263,230 tonnes grading 3.62 g/t Au (33,595 oz. Au)|
|Inferred Resource: 7,256,872 tonnes grading 2.01 g/t Au (514,108 oz. Au)|
Brian H. Newton P.Geo, a “Qualified Person” pursuant to NI 43-101, is responsible for the preparation of the resource statement.
Globex has just received the 2018 cash option payment of $125,000. 500,000 Renforth shares will also be issued to Globex before the end of the month.
Below please find extracts from the two recent Renforth press releases:
Renforth Completes Parbec Drill Program and Financing
January 2, 2018 – Renforth Resources Inc. (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce that the 2017 Parbec drill program finished on Dec 22, 2017 with a total of 1265m drilled to complete 7 of the planned drill holes.
A total of 948 samples were cut and delivered to Bourlamaque Assay Laboratory of Val d'Or, Quebec where they will be assayed using fire assay with a gravimetric finish for any results over limit (a fire assay results greater than 10 g/t Au).
Renforth is also pleased to announce that in December of 2017 a total of $916,480 was raised in a second closing of the non-brokered financing announced on Nov. 29, 2017. This closing resulted in the issuance of 3,350,000 common share units and 12,483,000 flow-through units. Combined with the previously announced (December 14, 2017) closing of $148,500 this brings the total financed in December 2017 by Renforth to $1,064,980.
Using these funds Renforth will shortly resume drilling at Parbec with planned holes and making the January 2018 property payment due under the Parbec option agreement. Brian H. Newton P.Geo, a “qualified person” as per the requirements laid out in National Instrument 43-101 has read and approved the technical information found in this press release.
Renforth Commences Drill Program on Parbec Gold Property
January 11, 2018 – Renforth Resources Inc. has started its January 2018 drill program at Parbec. This program consists of eight planned drill holes, approximately 1,900 metres in total. The planned holes include four holes previously planned, but not drilled, in December 2017 (P1, P3, P5 and P6), as well as four additional holes (P14, P15, P16 and P17). At present, Renforth is still awaiting assay results from the December 2017, drilling. The lithologies intersected in those drill holes, along with the presence of pyrite in drill core, validated and support the geological model within the maiden resource Renforth has established for Parbec.
Drill holes planned in the January 2018, program can be categorized as follows:
- West Camp zone extension — Four drill holes, P1, P3, P5 and P6 will be completed, originally planned in December 2017. These holes will test tuff intersections anticipated within the model, as well as drill underneath surface gold-bearing porphyry discovered during Renforth's trenching program. P5 is an undercut of PAR-17-68 completed in December 2017, assay results still pending.
- Camp zone deeper intercept — P16 is designed to test for mineralization below a historic intercept of 3.13 grams per tonne gold (Au) over 6.71 metres in drill-hole PAR-88-44 within the “B” horizon of the Tuff zone. This horizon should be encountered at about 150-metre depth.
- No. 2 zone exploration — P14 in anticipated to intersect the tuff and porphyry horizons, P15 is targeting strike extensions of diorite and tuff mineralization in a structurally complex and poorly explored area, P17 is undercutting PAR-11-03 and PAR-17-64, intersecting the porphyry horizon seen in both holes and providing a deeper intersection of the tuff horizon seen in PAR-17-64 — assays yet to be received.
Brian H. Newton, PGeo, a “qualified person” as per the requirements laid out in National Instrument 43-101, has read and approved the technical information found in this press release.
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
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