Globex talks drill results on Kewagama royalty holding

Sep 3, 2020

2020-09-03 13:01 ET – News Release

Mr. Jack Stoch reports

HIGH GOLD ASSAYS ON GLOBEX’S KEWAGAMA ROYALTY ASSET

On Sept. 2, 2020, Radisson Mining Resources released the results of recent drilling on its O’Brien project near Cadillac, Que., including high-grade gold intercepts on the Kewagama gold mine portion of the project on which Globex Mining Enterprises Inc. holds a 2-per-cent net smelter return royalty.

The following is an extract from Radisson’s press release dealing with the gold intercepts on the Kewagama gold mine portion of the O’Brien project property on which Globex has the 2-per-cent net smelter return royalty.

Press release highlights (per Radisson’s Sept. 2, 2020, press release)

Potential third high-grade mineralized trend (Kewagama area), 900 metres east of the O’Brien mine:

  • Hole OB-20-149 returned 45.86 grams per tonne gold over 2.10 metre core length (vertical depth of 500 metres) with visible gold showing in a smoky quartz vein:
    • The intercept was obtained 260 metres below defined resources in a sparsely drilled area 900 metres east of the old O’Brien mine.
  • Hole OB-20-146 returned multiple high-grade intercepts, including:
    • 17.90 grams per tonne gold over 2.15-metre core length (vertical depth of 105 metres), including 28.50 grams per tonne gold over 1.35 metres;
    • 21.29 grams per tonne gold over 2.00-metre core length (vertical depth of 260 metres), including 42.40 grams per tonne gold over 1.00 metre.
  • Hole OB-20-144 returned 5.79 grams per tonne gold over 2.00-metre core length (vertical depth of 135 metres):
    • The intercept was obtained 25 metres above defined resources.
  • Resources in the area are mostly above 250-metre vertical depth. Mineralization is open for expansion laterally and at depth.

Results from hole OB-20-144, OB-20-146 and OB-20-149, in conjunction with historical results, appears to be highlighting a third high-grade steeply dipping mineralized trend located approximately 900 metres to the east of the old O’Brien mine. Further drilling is planned to confirm continuity down to 500-metre vertical depth (260 metres below the limit of resources in the area), where hole OB-20-149 intersected 45.86 grams per tonne gold over 2.10 metres. Mineralization remains open for expansion laterally and at depth below 500 metres.

This press release was written by Jack Stoch, Geo, president and chief executive officer of Globex, in his capacity as a qualified person under National Instrument 43-101.

We seek Safe Harbor.

https://globexmining.com/

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