Globex Purchases Rockport Mining Corp.
ROUYN-NORANDA, Quebec, July 21, 2021 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, L&S Exchange, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to report that it has acquired Rockport Mining Corp., a private exploration and holding company which owns two royalties on Globex properties in New Brunswick.
Previously, Globex had purchased the Devil’s Pike gold property with a reported Inferred Resource of 214,800 tonnes grading 9.6 g/t Au (cut) or 13.48 g/t Au (uncut), (see Globex’s press release dated January 7, 2016). Rockport retained a 1% Net Smelter Royalty on production after 600,000 ounces of gold is produced.
In February 2021, Globex also purchased the Bald Hill antimony deposit from Rockport (see press release dated February 16, 2021). Rockport retained a 1% Net Smelter Royalty on all mineral production of this property.
Through the purchase and amalgamation of Rockport into Globex which was completed on July 14, 2021, the royalties no longer exist thus adding value to the Globex gold and antimony assets, both of which are located in southern New Brunswick. The purchase and amalgamation also provides Globex with contracted access to certain areas facilitating access for various types of surveys and diamond drilling. Lastly, the amalgamation of Rockport with Globex adds non-capital losses carried forward to Globex’s balance sheet which, if applicable, will be very useful considering Globex’s increased income in 2021.
Globex would like to acknowledge the awarding of $20,000 to Globex from the New Brunswick Exploration Assistance Program to aid in exploration of the Bald Hill Antimony property. In addition to the exploration potential to outline a larger antimony deposit, it is important to note that antimony is a recognized pathfinder for gold. Globex’s nearby Devil’s Pike gold property has significant antimony mineralization in addition to the gold resource as do a number of other gold deposits in New Brunswick.
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.
|We Seek Safe Harbour.||Foreign Private Issuer 12g3 – 2(b)|
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|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
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.