Globex Mining's Silver and Gold Exploration Endeavor
ROUYN-NORANDA, Quebec – Globex Mining Enterprises Inc. (TSX: GMX, OTC: GLBXF) is excited to announce its ownership of a remarkable exploration property, the Red Star Project, located in Clark County, Nevada. With an impressive 100% ownership, Globex holds 16 unpatented lode claims encompassing a vast area of 133.78 hectares (330.57 acres). Recent grab samples from the site have showcased exceptional assay results, reaching up to 1,171 g/t silver and 11.5 g/t gold.
Overview of the Red Star Project
The Red Star Project aims to explore two significant epithermal quartz vein systems—the lengthier Red Star vein system spanning over 2 km and the shorter 470 m segment of the Double Standard vein system, situated just 2.5 km south of Red Star. This intriguing project lies at the northwestern edge of the historical Crescent Mining district, nestled within the scenic McCullough Mountain range.
Historical Context and Geology
The history of mining prospects in this area dates back to around 1894, although the region did not experience noteworthy discoveries until later. Activities peaked between 1905 and 1907, during which several companies operated in the district. Following a resurgence in metal mining in 1936 due to rising precious metal prices, the area saw varied levels of production, mostly involving turquoise, gold, silver, copper, and lead. Notable mining operations included the Rest Mine, where gold was extracted from heap leaching processes.
Results from Initial Field Work
Globex has already ventured into the project with initial field work that consisted of thorough geological mapping and the collection of 65 rock samples. These samples include a mix of grab samples and linear chip samples, meticulously gathered from different locations: 60 samples from the Red Star vein, 3 from the Double Standard veins, and others from the Peak and Aurum veins. The Red Star vein system showcases a distinctive trend direction of approximately 100°, while the principal Red Star vein demonstrates an average dip of about 55° North. Remarkably, vein exposures can be traced over an impressive lateral distance of 2,000 m, suggesting potential continuity beneath later sedimentary and volcanic rock cover.
Mineralization and Assay Data
The Double Standard vein system also displays exciting characteristics, striking at an average of 105° and dipping at 70° North, traceable across a length of 470 m. Various vein splays and geometric complexities indicate possible future ore concentration. Globex’s geologists have identified three meaningful episodes of epithermal mineralization, categorized as low- and intermediate-sulfidation types. These pulses encompass varying assay results, with notable values such as 9.6 g/t gold and 70 g/t silver from specific vein segments.
Future Potential and Analytical Methods
The exploration efforts indicate that the Red Star project holds immense discovery potential for high-grade silver-gold and polymetallic deposits. As for the analytical methods employed, samples taken from the site were securely packaged and sent to American Assay Laboratories (AAL) in Sparks, Nevada. AAL’s reputable ISO 17025 certified lab processes the samples meticulously, ensuring reliable analysis outcomes. Each sample undergoes extensive preparation and geochemical analysis using modern methodologies to yield accurate assay results.
Contact Information
For those interested in learning more about Globex Mining Enterprises or the Red Star Project, detailed inquiries can be directed to:
Jack Stoch, P.Geo., Acc.Dir.
CEO & Executive Chairman
Globex Mining Enterprises Inc.
Suite 219, 120 Carlton Street
Toronto, Ontario, Canada, M5A 4K2
Tel.: 819.797.5242
Fax: 819.797.1470
Email: info@globexmining.com
Website: www.globexmining.com
Frequently Asked Questions
What is the Red Star Project?
The Red Star Project is an exploration property owned by Globex Mining in Clark County, Nevada, focused on silver and gold mineralization.
What are the assay results from the Red Star Project?
Assay results have shown up to 1,171 g/t silver and 11.5 g/t gold from samples collected from the site.
How many claims does Globex own for the Red Star Project?
Globex owns 16 unpatented lode claims totaling 133.78 hectares (330.57 acres).
What methods are used for sample analysis?
Samples are analyzed at American Assay Laboratories using various preparatory and geochemical methods ensuring accurate results.
Who is the CEO of Globex Mining Enterprises?
Jack Stoch is the CEO and Executive Chairman of Globex Mining Enterprises Inc.
