Chibougamau Independent Drilling Intersects Wide Core Length of Copper-Silver Mineralization
09 September 2013 - 5:31PM
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 results of the first drill hole, BJ-13-09, undertaken to
test a mineralized geological target in an area of historical drilling.
Hole BJ-13-09 has an azimuth of 124 degrees, a dip of 45 degrees and a length of
189 metres and was drilled in order to sample and try to define the controlling
structure of historical mineralization in the area. Previous historical drilling
was done in several directions as, in the Chibougamau Mining Camp, there are
several prominent directions of ore emplacement. The first holes of the program
tested one of the historical strike directions of mineralization on the
property. Hole BJ-13-09 intersected 36.5 m (119.7 ft) of mineralization grading
1.58% Cu and 11.1 g/t Ag at shallow depth as indicated below:
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From (m) To (m) Width (m) Cu (%) Ag (g/t) Comments
----------------------------------------------------------------------------
22.00 23.00 1.00 0.66 5.1
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23.00 24.00 1.00 1.00 9.0
----------------------------------------------------------------------------
24.00 26.15 2.15 4.50 35.0 3.8% Cu, 29.05 g/t Ag
over 3 m (9.8 ft)
----------------------------------------------------
26.15 27.00 0.85 2.11 14.0
----------------------------------------------------------------------------
27.00 28.50 1.50 0.30 2.1
----------------------------------------------------------------------------
28.50 30.00 1.50 0.19 1.4
----------------------------------------------------------------------------
30.00 31.50 1.50 0.86 7.2
----------------------------------------------------------------------------
31.50 33.00 1.50 1.30 9.4
----------------------------------------------------------------------------
33.00 34.50 1.50 2.40 17.6
----------------------------------------------------------------------------
34.50 36.00 1.50 0.38 2.7
----------------------------------------------------------------------------
36.00 37.50 1.50 2.02 13.2
----------------------------------------------------------------------------
37.50 39.00 1.50 0.41 2.6
----------------------------------------------------------------------------
39.00 40.50 1.50 0.40 2.9
----------------------------------------------------------------------------
40.50 42.00 1.50 1.07 7.1
----------------------------------------------------------------------------
42.00 43.15 1.15 2.12 15.0 3.13% Cu, 21.78 g/t Ag
over 4.45 m (14.6 ft)
----------------------------------------------------
43.15 44.50 1.35 3.73 26.6
----------------------------------------------------
44.50 45.50 1.00 2.64 16.7
----------------------------------------------------
45.50 46.45 0.95 4.00 28.5
----------------------------------------------------------------------------
46.45 47.50 1.05 1.59 9.8
----------------------------------------------------------------------------
47.50 48.50 1.00 1.06 5.8
----------------------------------------------------------------------------
48.50 49.20 0.70 0.80 6.7
----------------------------------------------------------------------------
49.20 50.00 0.80 1.10 6.4
----------------------------------------------------------------------------
50.00 51.00 1.00 1.37 8.1
----------------------------------------------------------------------------
51.00 52.50 1.50 1.03 6.3
----------------------------------------------------------------------------
52.50 54.00 1.50 1.66 9.9 2.57% Cu, 18.59 g/t Ag
Over 2.5 m (8.2 ft)
----------------------------------------------------
54.00 55.00 1.00 3.93 27.7
----------------------------------------------------------------------------
55.00 56.00 1.00 0.26 2.2
----------------------------------------------------------------------------
56.00 56.75 0.75 0.90 7.3
----------------------------------------------------------------------------
56.75 57.45 0.70 1.10 7.6
----------------------------------------------------------------------------
57.45 58.50 1.05 1.30 9.4
----------------------------------------------------------------------------
----------------------------------------------------------------------------
22.00 58.50 36.5 1.58 11.1
----------------------------------------------------------------------------
The mineralized zone was also anomalous in gold.
Chibougamau Independent Mines core sampling and quality assurance/quality
control procedures and assay methods are available on Chibougamau Independent
Mines' website at www.chibougamaumines.com under Technical, Technical
Information.
Mineralization consists of semi-massive to stringer sulphides with varying
amount of chalcopyrite and pyrite in a carbonate schist from core length 22 m to
46.45 m and chalcopyrite and pyrrhotite in a brecciated, mineralized anorthosite
from 46.45 m to 58.50 m. Other narrow zones of up to 1.71% Cu were also
intersected.
Drill hole BJ-13-09 is the first in a series of six drill holes. At this point
in time, we are unable to define a true width or strike to the mineralized
intersection but the initial results augur well. It is believed that the true
width may be in the order of 10 to 11 meters if the strike direction is other
than the one tested.
Claude P. Larouche, B.Sc. Eng., M.Sc., Geol., ing (OIQ) is senior on site
manager of this project.
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.
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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