GLOBEX MINING ENTERPRISES INC. (TSX:GMX) (FRA:G1MN) (OTCQX:GLBXF) is pleased to inform shareholders that it has sold its Tarmac Gold Property located in Dubuisson Township, Quebec to Wesdome Gold Mines Ltd. (TSX:WDO) for $1,000,000 and a 1% Gross Metal Royalty.
The Property consists of 6 claims covering 94 hectares located entirely within Wesdome’s Kiena Mine Complex and less than 2 kilometers northeast of the Kiena underground mine, all located beneath Lac De Montigny. Previous drilling by Globex in 1996 returned numerous gold intersections such as holes TM-10 (14.22 g/t Au, 84.1 g/t Ag and 6.49% Cu over 1.2 m) and TM-24 (29.92 g/t Au and 22.4 g/t Ag over 2.24 m).
Globex has maintained the Property since the 1996 drilling program due to the evident economic potential. The Property is surrounded on all sides by Wesdome claims, thereby positioning the company to facilitate the potential exploration and advancement of these claims.
The technical content of this press release has been compiled, reviewed and approved by Jack Stoch, Geo., President and CEO of Globex, and a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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We acknowledge the [financial] support of the Government of Canada.