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globex mining enterprises (GMX) Details

Globex Mining Enterprises Inc. is engaged in the acquisition, exploration, and development of mineral properties in North America. It has a mineral portfolio of approximately 120 early to mid-stage exploration and development properties containing base metals, including copper, nickel, zinc, and lead; precious metals comprising gold, silver, platinum, and palladium; specialty metals and minerals consisting of manganese, iron, molybdenum, uranium, and lithium, as well as rare earths and associated elements; and industrial minerals, such as mica, silica, and apatite, as well as talc, titanium, and magnesia. Globex Mining Enterprises Inc. is headquartered in Rouyn-Noranda, Canada.

globex mining enterprises (GMX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$135.0K
Chief Financial Officer, Treasurer and Corpor...
Total Annual Compensation: C$186.9K
Executive Vice President and Director
Total Annual Compensation: C$51.1K
Compensation as of Fiscal Year 2013.

globex mining enterprises (GMX) Key Developments

Globex Mining Enterprises Inc. Announces Exploration Update

Globex Mining Enterprises Inc. announced exploration update. The Mid Tennessee mine operated by Nyrstar continues to generate royalty income for Globex despite several problems at the mill which limited production for extended periods during the year. These problems seem to have been cleared up and production is ramping up. To date, since January, The company had received approximately CAD 835,413.00 in royalty payments based on zinc prices varying from CAD 0.91 CAD 0.92 per pound in the first six months of the year and CAD 1.03- CAD 1.05 per pound for the following five months. It is company's expectation that baring additional mill problems, production will increase and zinc prices will continue to rise as projected by many mining analysts. On the exploration front in the past months, the company undertook a number of exploration programs. The first on Eagle Gold property consisted of two drill holes one of which intersected 5.39 g/t Au over 4.8m. This intersection extends a known zone and suggests additional drilling is required. The company then drilled two holes on company's Poirier Mine property. One hole intersected massive sulphides much closer to surface than anticipated suggesting more complex folding than originally thought. Hole P-14-002 intersected 4.95% Zn and 8.95 g/t Au over 6.47m including 7.48% Zn and 12.61 g/t Ag over 3.23m. At the company Lyndhurst property, re-evaluated deep stratigraphic drilling at the "Moses" VMS zone and the under- explored eastern half of the property. The company also undertook rehabilitation work related to previous exploration activity by Globex. More work is contemplated at a later date. On the Nordeau East and Nordeau West properties, the company reviewed all the previous drilling by Plato Gold Corporation and sampled 1,500 metres of previously unassayed core. The best single new assay was 8.13 g/t Au over 1 metre. Two mineralized zones in hole PG-06-21 returned 1.50 g/t Au over 11.8m and 1.13 g/t Au over 9.0m. More work is warranted. A 645m four hole drill program was undertaken in the Smith gold zone area of the Smith Zulapa property. The best result was 5.97 g/t Au over 1.5 metres in hole SZ-14-04. The historical zones of mineralization were extended but as often occurs in areas of free gold, gold values are erratic. Again, more work is warranted. At the Turner Falls rare earth property, additional core was assayed returning anomalous results. Recently, the property was enlarged encompassing at least two additional areas of high grade rare earth mineralization. As regards the Wood Pandora property, the company recently met with the new joint venture partners, Yamana Gold Inc. a Agnico Eagle Mines Limited that participate in the Wood Pandora Joint Venture under Canadian Malartic Corporati following the takeover of Osisko Mining Corporation. A joint venture meeting was held to plan company's next drill progr and discussed other topics such as various options to develop the Ironwood gold deposit. One drill hole was done order to meet assessment requirements on the Amm mining concession. The best results were 16.83 g/t Au ov 0.6m and 6.08 g/t Au over 1.5m.

Globex Mining Enterprises Inc. Completes Second Larger Series of Tests on Samples of Talc Concentrate from Timmins Talc Magnesite Project

Globex Mining Enterprises Inc. announced that it has completed a second larger series of tests on samples of talc concentrate from Timmins Talc Magnesite Project (TTM) in order to test for the presence of asbestos. It is critical that talc samples contain no asbestos. Thirty five (35) composite samples representing 1,679.7 metres of drill core were submitted for testing. Each sample represented an average core length of 48 meters and an average horizontal core width of 30.8 meters. Each and every concentrate sample analysis indicated that no asbestos was present. Very strict international standards are set for the presence of asbestos contaminants in industrial products. Globex is very pleased that TTM talc meets or exceeds these standards. The results confirm earlier test work by Globex which also showed that no asbestos was present in TTM talc samples. In addition, 1,631 samples representing 4,453.7 meters of drill core from 51 drill holes and 2 drill hole extensions were submitted for whole rock or litho-geochemical analysis, gold or base metal assay and/or detailed mineralogical analysis by QuemScan. The results of these analyses have been received and are being incorporated into project data base.

Globex Mining Enterprises Inc. Appoints William McGuinty as Vice President Operations

Globex Mining Enterprises Inc. informed shareholders that the company has appointed William (Bill) McGuinty P. Geo. to the position of Vice President Operations of the company effective immediately. Bill has worked in Canada and internationally for Canadian stock exchange listed junior mineral exploration companies since 1981, holding progressively senior positions as project geologist, exploration manager and country manager. Most recently he has served as V.P. Exploration in Canada with Queenston Mining Inc. until its acquisition by Osisko Mining Corporation in 2012 and prior to that as V.P. Exploration in South and Central America for Intrepid Mines Ltd. until its takeover in 2008. His work experience spans all aspects of exploration management through to completion of feasibility studies and completion of Environmental Impact Statements in Canada and Latin America. He is fluent in English, French and Spanish and is a registered Professional Geoscientist in the provinces of Ontario and Saskatchewan.


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