Chibougamau Independent Drilling Returns True Width of 10.6m grading 2.93% Cu, 39 g/t Ag and 0.68 g/t Au
03 Octobre 2013 - 6:15PM
Marketwired Canada
CHIBOUGAMAU INDEPENDENT MINES INC. (TSX VENTURE:CGB)(STUT:CLL) and GLOBEX MINING
ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1M)(OTCQX:GLBXF) are pleased to inform
shareholders of the assay results received from two additional drill holes,
BJ-13-10 and BJ-13-14, undertaken to test a mineralized geological target in an
area of historical drilling.
Hole BJ-13-10 was drilled from the same set up as previously announced hole
BJ-13-09 (see press release dated September 9, 2013) which intersected a core
length of 1.58% Cu and 11.1 g/t Ag over 36.5 metres. Hole BJ-13-10 has a dip of
60 degrees and a length of 225 metres and intersected a core length of 43.5
metres (142.7 ft) grading 2.93% Cu, 39.0 g/t Ag and 0.68 g/t Au with a projected
true width of 10.66 metres (35 ft).
------------------------------------------------------------------------
BJ-13-10
------------------------------------------------------------------------
From (m) To (m) Length (m) Cu% Ag (g/t) Au (g/t)
------------------------------------------------------------------------
37.5 81.0 43.5 2.93 39.0 0.68
------------------------------------------------------------------------
Including 15.0 5.12 48.3 1.19
------------------------------------------------------------------------
Including 25.5 1.92 37.6 0.44
------------------------------------------------------------------------
Hole BJ-13-14 was drilled from the same set up as BJ-13-13 (see press release
dated September 18, 2013) which intersected a core length of 11.5 metres grading
5.23% Cu, 50.0 g/t Ag and 0.97 g/t Au. Hole BJ-13-14 has a dip of 45 degrees, a
length of 125 metres and was drilled bearing 175 degrees or 25 degrees more
southward than hole BJ-13-13. Hole BJ-13-14 intersected 45.0 metres (147.6 ft)
grading 1.12% Cu, 6.7 g/t Ag and 0.32 g/t Au with a projected true width of 17
metres (55.8 ft).
------------------------------------------------------------------------
BJ-13-14
------------------------------------------------------------------------
From (m) To (m) Length (m) Cu% Ag (g/t) Au (g/t)
------------------------------------------------------------------------
69.5 114.5 45.0 1.12 6.7 0.32
------------------------------------------------------------------------
Including 9.55 1.72 15.4 0.35
------------------------------------------------------------------------
Including 26.0 1.23 5.4 0.40
------------------------------------------------------------------------
Mineralization in both holes consists of semi-massive to stringer sulphides with
varying amount of chalcopyrite and pyrite in a siderite, sericite schist.
Compilation of historical drill data shows that while our drilling has tested
only the shallow upper reaches of the mineralized zone, given that a historical
drill hole intersected mineralization at a vertical depth of approximately 250m
(820 ft) grading 3.08% Cu over a core length of 12.8m (42 ft) indicating
significant potential to depth.
Compilation of the first four holes in the mineralized zone, allows us to now
define with some certainty the strike and dip of the mineralization. The strike
is between 120 degrees and 130 degrees and the dip near vertical. Drilling in
the future will be oriented so as to intersect the mineralized zone based upon
this strike and dip orientation.
Assaying was done at Expert Laboratory in Rouyn-Noranda, Quebec, using the
standard fire assay method for gold and aqua regia digestion with an AA finish
for copper and silver. Core sampling and quality assurance/quality control
procedures and assay methods are available on the Chibougamau Independent Mines'
website at www.chibougamaumines.com under Technical, Technical Information.
The property is owned 100% by Chibougamau Independent Mines Inc. Globex Mining
Enterprises Inc. retains a 3% Gross Metal Royalty on any production from the
property.
Claude P. Larouche, B.Sc. Eng., M.Sc., Geol., ing (OIQ) is senior on site
manager of this project. Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of the release.
Jack Stoch, P.Geo. President and CEO of Globex Mining Enterprises Inc and
Chibougamau Independent Mines Inc. wrote this press release in his capacity as
QP under applicable regulations.
We Seek Safe Harbour. Foreign Private Issuer 12g3 - 2(b)
CUSIP Chibougamau Independent Mines -
CBG-V 167101 10 4
CUSIP Globex Mining Enterprises - GMX
379900 50 9
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 Companies expectations and projections. A more detailed
discussion of the risks is available in the current Globex's "Annual Information
Form" available on SEDAR at www.sedar.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Jack Stoch, P.Geo., Acc.Dir., President & CEO
Globex Mining Enterprises Inc.
Chibougamau Independent Mines Inc.
819.797.5242
819.797.1470 (FAX)
info@globexmining.com
www.globexmining.com
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