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Starr Peak Announces Zinc and Copper Intersections on Globex’s “NewMetal” Royalty Property

ROUYN-NORANDA, Quebec, May 18, 2022 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart,…

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ROUYN-NORANDA, Quebec, May 18, 2022 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that today Starr Peak Mining Ltd. (STE-TSXV, STRPF-OTCQX) issued an extensive press release in which it reported the following:

  • Deep drilling of the Normetmar trend in hole STE-21-92-W3 has intersected a high-grade copper interval of over 15% chalcopyrite (“Cpy”) mineralization over 3.7 metres. Chalcopyrite is a copper mineral (3% Cpy = 1% Cu).
  • Recent Deep zone drilling results include 5.03% Zn Eq over 12.5 m in hole STE-22-092-W2, which includes 1.01% Cu.
  • A new Volcanogenic Massive Sulphide (“VMS’) horizon has been discovered in the northern half of the property.

The currently reported drill intersections are on the Deep Zone of the Normetmar orebody and are presented by Starr Peak as follows:

Deep Zone Results Normetmar, NewMetal Property

Zone Hole No. From
(m)
To
(m)
Length
(m)
Zn
(%)
Cu
(%)
Ag
(g/t)
Au
(g/t)
Zn Eq
(%) *
Deep STE-22-092-W2 1088.00 1100.50 12.5 1.27 1.01 11.41 0.21 5.03
  Incl. 1094.00 1098.50 4.5 0.39 1.86 21.18 0.38 7.29
  STE-21-077 750.70 756.65 5.95 1.69 0.19 6.82 0.06 2.58
  STE-21-082-W2 747.00 755.80 8.80 1.45 0.24 4.60 0.06 2.43
  Incl. 748.60 752.35 3.75 2.95 0.50 7.25 0.11 4.88
  STE-22-087 712.25 721.35 9.10 1.71 0.83 11.38 0.24 5.00
  Incl. 713.30 713.70 0.40 0.66 7.83 76.70 1.04 28.12
  Incl. 719.00 719.75 0.75 7.04 0.29 6.40 0.22 8.56
  STE-22-087-W1 690.50 701.20 10.70 0.57 0.75 8.22 0.11 3.26
  Incl. 690.50 691.85 1.35 0.59 2.29 27.24 0.42 9.03
  STE-22-088-W1 768.40 778.30 9.90 0.60 0.04 8.14 0.03 1.02
  Incl. 776.00 778.30 2.30 1.08 0.01 22.63 0.08 1.96
  STE-22-092 1122.70 1126.00 3.30 1.41 0.05 3.30 0.02 1.71
  Incl. 1123.40 1126.00 2.60 1.69 0.06 3.87 0.02 2.03

Intervals are reported as drill core lengths measured downhole. True width of mineralization is currently unknown.

Wedge hole STE-22-092-W2 returned 12.5 metres grading 5.03% zinc equivalent including 1.01% copper.   Additional wedge hole, STE-21-92-W3, above this hole is reported to have intersected more than 15% chalcopyrite over 3.7 metres. Assays are pending on this wedge hole.

Globex retains a 2.5% Gross Metal Royalty on the Normetmar Zone and retains over one million Starr Peak shares. (Note: Production royalties only pay upon production).

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)
  CUSIP Number 379900 50 9
LEI 529900XYUKGG3LF9PY95
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
[email protected]
www.globexmining.com

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.

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