Globex Mining details work at 2 New Brunswick projects

Executive Summary

• Globex Mining Enterprises Inc. provided operational updates on two New Brunswick critical mineral projects under option: the Golden Pike project (via Bryah Resources) and the Bald Hill project (via Antimony Resources).
• Bryah Resources has initiated a 1,000-meter drill program at Golden Pike to upgrade the resource estimate to JORC compliance, followed by up to 1,200 meters of exploration drilling at the Bond Road area.
• Antimony Resources filed a NI 43-101 Technical Report for Bald Hill indicating a conceptual potential of 2.7 million tonnes at 3.0-4.0% antimony, while continuing a 6,000-meter drill program and securing up to $10,012,000 in financing.

Key Details

• Golden Pike Project (Bryah Resources):
  • Bryah Resources has commenced a 1,000-meter drill program.
  • Objective: Upgrade existing foreign resource estimate to a JORC-compliant mineral resource estimate.
  • Future plans: Move drill to Bond Road area for exploration targeting high-grade antimony veins within interpreted fault structures.
  • Planned exploration: Up to 1,200 meters of drilling across several holes.
• Bald Hill Project (Antimony Resources):
  • Filed NI 43-101 Technical Report detailing past work and Phase 1 drilling.
  • Conceptual Potential: 2.7 million tonnes at a grade of 3.0% to 4.0% antimony (Sb).
  • Contained Antimony: Estimated between 81,000 and 108,000 tonnes.
  • Comparison: Approximate doubling of the previous 2014 estimate by MRB and Associates.
  • Current Drilling: Continuing a 6,000-meter program to detail the deposit and extend it north and south.
  • Total Footage: Upon completion, total drill footage will reach 15,000 meters.
  • Next Steps: Antimony will assess if drill density is sufficient to prepare a maiden resource.
  • Disclaimer: Stated potential is conceptual; economic viability is not yet determined.
• Financing:
  • Antimony Resources announced an up to $10,012,000 financing.
  • Purpose: To continue work on the Bald Hill property as the company focuses on becoming a significant North American antimony producer.

Notable Quotes

• "It should be noted that Antimony Resources has not completed enough work to determine a resource for the Bald Hill project. The stated potential is conceptual in nature, and it is not known if the project will prove to be economic."