GLOBEX MINING ENTERPRISES INC. (TSX:GMX) (FRA:G1MN) (OTCQX:GLBXF) is pleased to inform shareholders that Orford Mining Corp. (TSX-V: ORM) has renewed the option (second anniversary) of Globex’s Joutel Eagle Property in Joutel township, Quebec. Under terms of the agreement, Orford has paid Globex $125,000 and issued 2,500,000 Orford shares to Globex.
The 50 square kilometre property includes 11 kilometres of the horizon in which the adjoining Eagle and Telbel Gold Mines occur. The Eagle Mine currently also under option from Globex by Maple Gold Mines Ltd. (MGM-TSXV) and the Telbel Mine are reported to have produced over 1.1 million ounces of gold and are currently, also being actively explored.
Orford has currently completed 3,253 metres of drilling on the optioned property primarily focused on the South Gold Zone intersecting wide intersections of significant gold values. Orford has stated that “Our efforts will be focused on identifying further gold and copper mineralization across the Joutel Eagle Property in the coming year.” Click to access todays Orford press release for details).
Globex is pleased that Orford is continuing their exploration on the property following their initial success in locating and focussing on the South Gold Zone. The 11-kilometre-long strike length of the Eagle/Telbel Mines horizon offers a significant hunting ground to find additional mineralization.
The Joutel Eagle Property (Option Agreement with Globex Mining).
Globex currently is in a very strong position with approximately $25,000,000 in cash, vendable shares of other companies and receivables in addition to 240 mineral property assets including 92 royalties as well as real estate (land and buildings).
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.
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