Orford Mobilizes Drill to Joutel Eagle Property

ROUYN-NORANDA, Quebec, Jan. 23, 2023 (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 Orford Mining Corporation (ORM-TSXV) has mobilized a drill to undertake a 2,000 metre drill program on the South Gold Zone within the Joutel Eagle Gold property under option from Globex (see Globex press release dated November 30, 2021).

Previous drilling by Orford in their initial drill program returned 2.0 g/t Au over 20.65 m in Hole 22-JE-001, 1.24 g/t Au over 28.10 m in Hole 22-JE-002 and 1.11 g/t Au over 20.64 m including 14.7 g/t Au over 0.64 m in Hole 22-JE-003. The new drill program is intended to test a 400 metres strike length of the South Gold Zone.

Orford plan map of the South Gold Zone showing the 2022 drill results and the planned 2023 holes along strike. All drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information. The historical assays referred to in this release was obtained from historical work reports filed with the Quebec Ministry of Energy and Natural Resources and have not been independently verified by a Qualified Person as defined by NI 43- 101.

For further details on the drill program, access todays Orford’s press release here.

Globex would also like to inform shareholders that adjoining and along strike to the northwest of Orford’s Joutel Eagle property, Globex has an 18 cell, 1,006-hectare property called Mistaouac where, through compilation work, we have identified two high priority geophysical targets.

We are currently planning targeted geophysical surveys over the two priority areas and, depending upon weather conditions, time constraints and drill availability, we hope to test both targets.

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.

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. 

A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9ffafba6-4d83-479c-b950-1858e76f49ad 

Orford plan map of the South Gold Zone

Orford plan map of the South Gold Zone showing the 2022 drill results and the planned 2023 holes along strike. All drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information. The historical assays referred to in this release was obtained from historical work reports filed with the Quebec Ministry of Energy and Natural Resources and have not been independently verified by a Qualified Person as defined by NI 43- 101.