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Globex Mining Enterprises Inc.

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Globex: Initial Bräunsdorf Germany Exploration Identifies Numerous Priority Target Areas

ROUYN-NORANDA, Québec, June 07, 2018 (GLOBE NEWSWIRE) -- GLOBEX MINING ENTERPRISES INC. (TSX:GMX) (FRANKFURT:G1MN) (STUTTGART:G1MN) (BERLIN:G1MN) (MUNICH:G1MN) (XETRA:G1MN) (OTCQX:GLBXF) is pleased to announce shareholders with an update of its on-going exploration work at the Bräunsdorf silver project, located in the state of Saxony, Germany. The Bräunsdorf project area has a long history (+750 years) of intermittent relatively shallow silver production (28.8 million troy ounces worth approximately US$500 million) but no modern silver exploration either in the old mine areas nor in the largely overburden covered areas between various mining camps. Epithermal mineralisation (low- and intermediate sulphidation) occurs mainly in veins, but locally is also disseminated or in stockwork zones. The exploration undertaken to date and described below has located widely distributed silver values at numerous locations within the 164 square kilometre exploration permit as well as significant zinc, lead and gold values.  The work to date is preliminary in nature but clearly demonstrates the high potential of the land package.

Bräunsdorf Property - Numerous Priority Target Area
Defined Exploration Targets of the Bräunsdorf Exploration License

On August 22, 2017, the Saxony Mining Office granted Globex a license (164 square km) for the exploration of mineral resources within the Bräunsdorf project area (see Globex’s press release from Sept. 12, 2017)

Initial work focused on the location and collection of hundreds of years of dispersed historical technical and mining data and compilation of historical exploration activities from tin, lead and nickel exploration campaigns from 1951 to 1977. A database was created, and licence wide and local geological maps were prepared based on different historic maps, reports and field observation carried out by Globex.

Field reconnaissance and a review and re-logging of remnants of historic drill core were undertaken by Globex in October 2017, January & April 2018.

Note:  Helpful conversions when reading this press release as much of it is technical in nature.

1 ppm = 1 gram/tonne
= 1 g/t
31.1 ppm = 1 troy ounce
= 1 oz t
1 kilogram = 1,000 grams
or 32.15 troy ounces
1 tonne= 1,000 kilograms

During the field investigations a total of 85 field samples had been collected. Field samples include 33 grab samples from mine waste dumps and 52 grab, float and rock chip samples from surface. From historic drill core a total of 23 samples were taken after all available core remnants was re-logged. In addition, 15 soil samples along a geochemical test survey line were taken in order to test the efficiency of soil geochemistry as a tool in ongoing exploration. Grab and float samples are selective by nature and are unlikely to be representative of average grade.

A small fraction of historic drill core drilled for tin in one area is still available (less than 10% per hole), consequently assay results do not reflect the true average grades but do give indications for mineralisation. It is highly likely that drill core with high-grade silver mineralisation had been discarded completely in the past as drilling, such as it was, targeted tin, not silver.

Assay highlights of sampled drill core come from hole Rieg-1 that is located south of the historical Bräunsdorf mine: The hole intersected multiple vein and stockwork zones, including historically unknown mineralisation zones. The best assay result was returned from Sample 504 (251.6m-251.9m) with 154 ppm Ag, 7.82% Pb and 2.96% Zn. This remaining isolated 30 cm long piece of drill core is derived from the hanging-wall part of the 7.1m wide Zweifler vein zone. A historically unknown 8.9 m wide stockwork vein zone was intersected between 326.4m-335.3m. Only four core intervals of this zone are available, and two were analysed. Sample 502 (329m-330m) returned 39.1 ppm Ag, Sample 512 (332.2m-332.4m) returned 25.7 ppm Ag.

Ten grab samples had been collected from the old Bräunsdorf mine dump.
Highest values were as follows:
Sample 4: 68.5 ppm Ag; Sample 7: 28.1 ppm Ag, Sample 10: 30.4 ppm Ag;
Sample 11: 115 ppm Ag; Sample 12: 30.9 ppm Ag.

Three grab samples were taken from the Christbescherung mine dump (Großvoigtsberg mine camp). All three samples returned high silver grades:
Sample 19: 707 ppm Ag & 0.257 ppm Au; Sample 20: 186 ppm Ag & 0.212 ppm Au;
Sample 21: 355 ppm Ag.
Sample 21 consists of near massive sulphide ore and represents either a separate epithermal stage (pyrite-dominated type) or it is derived from greater depth, where mineralisation is characterised by higher Cu-Pb-Zn contents. In addition to its high silver grade, it returned 1.33% Cu, 8.76% Pb and 5.75% Zn.

Four grab samples were collected from mine dumps of the Munzig mine camp. Collected material was mainly wall-rock with disseminated- or stockwork mineralisation:
Sample 27: 22.1 ppm Ag.
Sample 55: 17.1 ppm Ag, 0.755% Zn, 0.808% Pb;
Sample 56: 10.6 ppm Ag, 0.41% Zn, 0.49% Pb;
Sample 57 (non-selective grab sample): 117 ppm Ag, 0.629 ppm Au, 0.478% Zn, 1.15% Pb.

From the Reichenbach mine dump two grab samples were collected:
Sample 42: 8.63 ppm Ag; Sample 43: 52.9 ppm Ag, 0.392 ppm Au.

From the Grauer Wolf mine workings four samples were collected:
Sample 37: 4.28 ppm Ag, 0.262 ppm Au; Sample 38: no anomalous Ag or Au;
Sample 39: 28.31 ppm Ag; Sample 40: 28.04 ppm Ag, 0.097 ppm Au.

Two grab samples were taken from the Emanuel mine & one sample from a nearby unnamed mine dump (no historic data for these mines):
Sample 69: 14.8 ppm Ag; Sample 70: 312 ppm Ag, 1.251 ppm Au; Sample 73: 4.35 ppm Ag, 1.373 ppm Au.
No vein quartz is present in the waste dump of the unnamed mine. Three up to 35 cm large brecciated rock pieces had been collected (sample 73). Apparently mineralisation, occurring at the contact gabbro to gneiss, is related to fine grained pyrite (and limonite) filling partly narrow open fractures.

Exploration targets have been generated by compilation and interpretation of historic data and past exploration campaigns and by recent field reconnaissance (Globex, October 2017, January & April 2018) and corresponding assay results of field, mine dump and historic core samples. The “Deep Targets” can already be considered as drill targets for possible down-dip extensions of historically mined high-grade ore shoots.

High priority target zones with potential for near-surface mineralisation in epithermal veins (concealed under shallow or deeper overburden) are the following:

  • A 7 km long SW-NE trending zone, herein called the Fortuna Target, between the Bräunsdorf and Großvoigtsberg mine camps, no historic mining took place here. Discovery of epithermal quartz vein float and assay results of collected samples outlined three sub-targets. Highly anomalous values of Ag (up to 14.86 ppm), Au (up to 0.109 ppm), As, Sb and Bi have been found.
  • The Reichenbach Target area with float-indicated SW-NE trending epithermal veining over a length of at least 330 m. Three collected quartz vein float samples returned sub-ore grade with 89 g/t Ag, 1.3 g/t Au; 89 g/t Ag, 3.0 g/t Au and 81.6 g/t Ag, 0.15 g/t Au. All three with highly anomalous values of As and Sb. This recently, during field reconnaissance (January 2018) discovered site represents the first target at Bräunsdorf with significant gold values.
  • At the Munzig Target area there are several shallow mine workings not more than 30 m to 60 m deep. Three mine dump samples returned high Pb-Zn grades (0.48% - 1.15% Pb & 0.4%0.75% Zn) and silver (11 g/t, 17 g/t & 22 g/t). Another sample returned 117 g/t silver and 0.63 g/t Au. Collected material was mainly wall-rock with disseminated or stockwork mineralisation, not from historically mined vein material. Mineralisation could therefore be of considerable width. At Munzig exists excellent potential for the definition of shallow Pb-Zn-Ag-(Au) resources as depth continuations of known vein systems and for the discovery of veins concealed under overburden where no previous exploration was undertaken. Noteworthy is the discovery of quartz vein material in hillside scree 1.2 km west of the Munzig mine camp. The strike direction of the corresponding veins could not been determined. It is however indicated that these veins represent the western continuation of the Munzig vein system. Sample 66 assayed 53.14 ppm Ag and 0.221 ppm Au.
  • At the Emanuel Target occur numerous NNE and NE striking quartz-chalcedony veins. Several veins had been mined in the past (mine dump assay results see above), others crop out or are indicated by quartz vein float. At one location was discovered an outcropping vein, attached to a rhyolite dike. A chip channel sample taken over 50 cm width (entire width not known) returned 11.3 ppm Ag and 2.265 ppm Au. The Emanuel target is highly prospective for Au and Ag mineralisation hosted by quartz veins and by (almost) quartz-free stockwork/disseminated mineralisation at the SW-NE trending contact gabbro/gneiss.
  • The Steinberg Target represents a 1.1 km x 0.6 km area with silicified schist/phyllite, epithermal quartz stockwork and disseminated oxidised sulphides (pyrite, arsenopyrite?). Four collected samples returned anomalous Ag (0.87 ppm to 12.77 ppm), As and Pb. It has potential for discovery of low-grade open-pitable silver mineralisation and/or high-grade vein-hosted silver mineralisation.

Moderate priority target zones with potential for near-surface mineralisation in epithermal veins (concealed under shallow or deeper overburden) are the following:

  • The Zellwald Target centred on the Zellwald forest area with numerous, not fully traced epithermal veins, indicated by abundant vein quartz boulders and by vein quartz intersected in past exploration nickel exploration drilling. So far anomalous high silver and pathfinder elements in quartz vein float have been discovered only in the southern area. Highest silver values ranged between 5.5 ppm and 16.2 ppm in combination with strongly anomalous antimony and locally gold (0.139 ppm).
  • The Hartha Target centred 2.5 km SW of the Bräunsdorf mine. No historic mining was undertaken here. The area is dominated by agricultural land with shallow to moderately deep overburden. Near the contact with mica schist, strongly argillic-limonitic altered pieces of reddish gneiss can be found. One sample returned anomalous high values of pathfinder elements including Ag (1.22 ppm), As (269 ppm) and Sb (37.2 ppm). Good potential exists for the discovery of blind epithermal veins as the southern continuation of the Bräunsdorf vein system.

High priority “Deep Drill Targets” are recommended to test possible down-dip extensions of historically mined ore shoots:

  • Targets “Bräunsdorf North” and “Bräunsdorf South”: The Bräunsdorf mines extracted at least 112.5 t of silver between the years 1673-1862. Ore came from two ore shoots, the northern ore body was about 500 m long and the southern ore body about 300 m long, both were mined to a vertical depth of up to 250 m-300 m. Vein widths varied between 0.1 m and over 4 m. Silver grades (hand selected or concentrated ore) varied between 0.9 kg/t and over 4 kg/t. Highest assay results of grab samples collected by Globex from one still preserved mine dump returned 69 g/t and 115 g/t silver.
  • Peter Vein Target: This target is situated in the southern part of the Großvoigtsberg mine camp. The Christbescherung mine between the years 1714-1909 produced at least 31.5 t of silver. The southernmost 500 m of the Peter vein is a prime drill target. The Peter vein was reported to be of lower grade and mined only to depth of between 150 m and 300 m. Widths approached between 0.5 m and 4 m, locally up to 12 m. Between 1889 until 1906 the silver grade of extracted ore is reported to have averaged about 3 kg/t. Two grab samples collected by Globex from the Christbescherung mine dump returned 186 g/t and 707 g/t silver. Another grab sample yielded 355 g/t silver, 1.33% Cu, 0.88% Pb and 0.58% Zn.
  • Wittig Target: This target is centred on the principal high-grade ore shoot of the NW-SE trending and NE dipping Ludwig Spat vein of the Halsbrücke mine camp. Total silver production of the Halsbrücke mine camp amounts to at least 319.6 t silver between the years 1602-1969. The steeply west plunging ore shoot varies between 70 m – 200 m long and was mined at least down to a depth of about 600 m. The vein width varied in this ore shoot between 1.5 m and 5 m. 

Shallow to deep targets are recommended for follow-up exploration and/or drilling on veins within smaller historical mining camps:

  • Burkhard Vein Target: The Burkhard vein was historically mined only locally and to shallow depth (<100 m). The vein represents the northern continuation of the silver-rich Peter vein that was mined in the Kleinvoigtsberg and Großvoigtsberg mining camps. No historic information on ore grades is available. However, a historic drill hole (Oba 1/77) intersected this vein at a vertical depth of 188 m over a core length of 1.3 m. Although this core interval had been discarded in the past, sampling by Globex of remaining core in the foot and hanging wall revealed a weakly mineralised, several meter wide, alteration/stockwork zone (with up to 5.5 g/t Ag and up to 0.349 g/t Au), indicating that this vein could carry economic silver mineralisation. The over 1 km long Burkhard vein represents an attractive exploration target for the discovery of resources at shallow depth.

The Bräunsdorf project has provided Globex with a multitude of exploration targets from our initial work of data research, mapping, prospecting, surface sampling and sampling remnants of historical core. We are currently planning the next phase of exploration including among other things, soil sampling and geophysics.

Analytical Method

Samples were prepared for analysis by Bureau Veritas Polska in Krakow, Poland and pulps subsequently shipped for geochemical analysis to their Vancouver, Canada laboratory. All samples underwent ICP-MS analysis of a 0.5 g sub-sample after modified aqua regia digestion (1:1:1 HNO3:HCl:H2O) for 53 elements including silver and gold. Over limit assays of silver (> 100 ppm) and gold (> 1ppm) were re-analysed using standard 30 g fire assay with gravimetric finish (detection limit 20 ppm for Ag and 0.9 ppm for Au). Over-limit assays of base metals (Pb, Zn, Cu) used ICP-ES analysis of a 2 g sub-sample after modified aqua regia digestion.

This press release was written by Matthias Jurgeit, Eurogeologist under the supervision of Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

We Seek Safe Harbour.  Foreign Private Issuer 12g3 – 2(b)
 CUSIP Number  379900 50 9
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada  J9X 2J1

Tel.:  819.797.5242
Fax:  819.797.1470

Forward Looking Statements:
Except for historical information, this news release may contain certain “forward looking statements”.  These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”).  No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom.   A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.

51,048,577 shares issued and outstanding

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4a6b0ffb-d683-46bb-9c7e-7636464ed516 

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