Globex runs mag survey at Braunsdorf

Apr 3, 2019

2019-04-03 10:02 ET – News Release

Mr. Jack Stoch reports

GLOBEX RECEIVES PRELIMINARY BRAUNSDORF MAG. DATA

Globex Mining Enterprises Inc. has received preliminary magnetometer survey results from the Braunsdorf area, located in the company’s Saxony, Germany, silver property.

The area surveyed covers a rectangular grid area approximately 6.5km long by 1 km wide elongated in a northeast-southwest direction covering the principal Neue Hoffnung Gottes (NHG) vein system including the Siegfried and Neue Hoffnung Gottes shaft areas and adjoining land to the northwest. Production from the NHG silver vein system is estimated to be approximately 112.5 tonnes (3,616,959 oz. Ag) from a strike length of approximately 2,750m and depths of up to 250 m. All mining was manual pick and shovel mining followed by hand sorting undertaken between 1673 and 1862. No modern exploration of any kind has been undertaken on the property. Veins are reported to have reached widths of up to 4.2 m.

The magnetometer survey outlines a series of 3 parallel northeast-southwest trending, linear magnetic high anomalies. The NHG vein system seems to parallel the southeastern most of these magnetic anomalies within an area of magnetic low. The other linear anomalies suggest corresponding linear, parallel magnetic lows similar to the one beside the magnetic high that borders the NHG silver vein system. No work of any kind has been undertaken on what may be geological environments that are similar to that of the NHG silver vein system and thus are priority target areas.

We are awaiting the final magnetometer data as well as completion of magnetometer surveys on other silver target areas as well as results from a number of induced polarization survey lines which should be started shortly. Soil sample surveys will also begin shortly in select areas.

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 Harbor.

https://globexmining.com/