Globex Consolidates 100% Ownership of Blackcliff Gold Zone

Executive Summary

• Globex Mining Enterprises Inc. acquired a 50% interest in the Blackcliff Gold Mine Property from Altai Resources Inc. for $142,000, bringing its ownership to 100%.
• The property comprises six claims (127.6 ha) adjacent to historic gold resources and near Globex’s Central Cadillac‑Wood‑Ironwood Gold Mines.
• Historical drilling indicates multiple high‑grade intercepts; the company plans a new exploration program to test depth potential now that it controls the entire asset.

Key Details

• Acquisition Terms: Cash consideration of $142,000 for the remaining 50% interest; total ownership now 100%.
• Location & Size: Six claims covering 127.6 ha in Malartic Township, Quebec; ~22 km east of Globex’s Central Cadillac‑Wood‑Ironwood property and ~6 km NE of Agnico Eagle’s Canadian Malartic Mine.
• Historical Resources (pre‑NI‑43‑101):
• Vein 1 – Probable: 13,277 t @ 8.14 g/t Au; Possible: 3,062 t @ 2.42 g/t Au
• Vein 2 – Probable: 180,820 t @ 7.83 g/t Au; Possible: 23,230 t @ 4.66 g/t Au (plus 18,383 t @ 2.52 g/t Au)
• Vein 3 – Probable: 16,273 t @ 4.61 g/t Au; Possible: 19,766 t @ 2.44 g/t Au
• Later Historical Estimate (1989): Total of 255,972 t grading 6.71 g/t Au (Probable 135,406 t @ 6.89 g/t Au; Possible 120,566 t @ 6.50 g/t Au).
• Key Intercepts from Recent Modelling:
• Vein 1 – 9.89 g/t Au over 3.0 m (depth extension)
• Vein 2 – 6.10 g/t Au over 9.1 m (depth extension)
• Vein 3 – 40.48 g/t Au over 3.05 m (limited lateral continuity)
• Vein 4 – 6.43 g/t Au over 3.0 m (westward depth extension)
• Vein 5 – 7.71 g/t Au over 5.6 m (up‑dip extension)
• Vein 6 – 4.12 g/t Au over 3.0 m (limited lateral continuity)
• Vein 7 – 18.46 g/t Au over 3.0 m (depth extension)
• Strategic Rationale: Property lies within the same geological unit as former Camflo Gold Mine (historical resource of ~8.86 Mt @ 5.78 g/t Au) and is proximal to existing Globex assets, offering potential for bulk‑tonnage development.
• Future Plans: Globex will formulate an exploration program focused on deeper drilling to evaluate the size and grade continuity of the Blackcliff gold zone, leveraging current strong gold price environment.

Notable Quotes

(No direct quotes provided in the release.)