| August 22, 2023 – Rouyn-Noranda, Quebec, 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 update shareholders on work undertaken by Brunswick Exploration Inc. (BRW-TSXV) on Globex’s Lac Escale Lithium property in the James Bay area of northern Quebec (NTS 33H09).
On August 21, 2023, Brunswick announced the discovery of multiple outcrops containing spodumene (lithium mineral) (see photos attached to Brunswick’s press release here). All the newly discovered lithium bearing outcrops occur on Globex claims or within a 1-kilometer Globex royalty perimeter. The spodumene bearing outcrop discoveries are the result of Brunswick tracing a series of large Spodumene boulders back to the source area. To date, five significant spodumene-bearing pegmatite dykes have been identified with apparent widths of 25 to 80 metres. Lithium bearing units this wide may potentially be a significant find.
On January 24, 2023, Globex announced an option wherein Brunswick may earn 100% interest in the Globex claims subject to cash payments totaling $500,000 (half cash and half shares) and $1,000,000 in exploration expenditures over 3 years. Globex will retain a 3% Gross Metal Royalty (GMR), 1% of which may be purchased for $1,000,000. The GMR royalty will also apply to an area of 1 km from the exterior claim boundaries of Globex’s claims. Should Brunswick earn 100% interest in the claims, at year 5 or upon reaching an expenditure of $4,000,000, Brunswick will commence to pay Globex a $100,000 per year advance royalty.
Click here to view map of the approximate Globex External 1 km GMR Royalty Boundary.
Globex is pleased with Brunswick’s progress to date and looks forward to Brunswick’s continuing exploration efforts as only a small portion of the property has been prospected.
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. |
New Spodumene (lithium) Occurrences Discovered on Optioned Globex Claims
