So billig wird Globex lange nicht mehr zu haben sein.
January 18, 2007
GLOBEX - QUEENSTON REPORT
NEW RESULTS FROM WOOD-PANDORA
Rouyn-Noranda, Quebec, Canada. GLOBEX MINING ENTERPRISES INC. (GMX-Toronto, G1MFrankfurt
and GLBXF-U.S. Pink Sheets) and QUEENSTON MINING INC. (QMI-Toronto, Frankfurt,
Stuttgart, Berlin) are pleased to announce drilling results from the Wood-Pandora (50%-50%) joint venture
property, located in Cadillac township, Quebec.
A total of ten holes (1,527 m) targeted the Ironwood Zone, one hole (163.4 m) was completed on the
Amm claim and two holes (440 m) on the Pandora North claims.
Highlights of the drilling program include:
• Hole W06-43 extends Ironwood Zone towards surface intersecting
11.16 g/t Au over 7.95 m
• Hole W06-47 extends Ironwood Zone to east intersecting
13.24 g/t Au over 2.75 m
• Hole W06-37 intersects gold mineralization on the Amm claim assaying 1.11 g/t Au
over 8.00 m and 1.73 g/t over 10.85 m (separate from the Ironwood Zone)
As a result of this phase of drilling, a total of 26 holes have now been completed on the Ironwood Zone in
which 23 have intersected significant gold values. The previous drilling results were announced in joint
news releases dated March 9, June 8, July 19 and August 21, 2006 and are available on the Companies
websites.
Table of Ironwood Zone Assay Results
Hole #
Dip
(º)
Az
(º)
From
(m)
To
(m)
Interval
(m)
Estimated True
Width (m)
Au
(g/t)
W06-38 -45 3°N 12.80 16.05 3.25 2.50 7.92
57.95 58.75 0.80 0.62 9.21
W06-39 -43 183°N 52.80 58.0 5.20 3.52 5.64
W06-40 -43 180°N 16.95 18.95 2.00 1.35 12.36
25.95 26.45 0.50 0.34 24.04
W06-41 -43 2°N 6.68 7.18 0.50 0.40 17.67
W06-42 -44 183°N Outside Mineralized Corridor
W06-43 -43 182°N 70.50 71.50 1.00 0.67 7.30
94.40 95.40 1.00 0.68 15.74
105.35 113.30 7.95 5.35 11.16
including 105.35 105.90 0.55 0.40 20.51
and 107.00 111.65 4.65 3.42 14.75
W06-44 -44 325°N 80.65 81.20 0.55 0.38 7.82
103.20 107.65 4.45 3.07 6.52
118.15 120.80 2.65 1.83 9.37
W06-45 -44 179°N 67.10 68.20 1.10 0.74 26.78
126.95 128.30 1.35 0.92 6.64
W06-46 -45 179°N 49.65 50.40 0.75 0.49 14.68
75.00 78.00 3.00 1.98 4.19
91.25 92.85 1.60 1.07 4.97
W06-47 -61 173°N 119.40 121.05 1.65 0.76 11.25
252.00 254.75 2.75 1.34 13.24
2
Nine of the ten holes (W06-38 to W06-46) completed at Ironwood targeted the up-dip projection of
the mineralization between surface and -75 m. All but one hole, W06-42, was successful in
intersecting significant values in a series of parallel gold zones including 11.16 g/t Au over 7.95 m
in hole W06-43. Hole W06-42 was completed outside the mineralized corridor intersecting no
significant values. Hole W06-47 was a deeper test, at -175 m, and intersected two mineralized
intervals assaying 11.25 g/t Au over 1.65 m and 13.24 g/t Au over 2.75 m and as a result has
extended the Ironwood Zone a further 25 m to the east. Drilling has now intersected the Ironwood
Zone over a lateral distance of 75 m and from surface to a vertical depth of 250 m.
A single diamond drill hole (W06-37) was completed on the Wood-Pandora property approximately
3 km west of the Ironwood Zone targeting a geophysical anomaly on the Amm claim. This hole
intersected two shallow intervals of disseminated sulphide mineralization hosted in sedimentary
rocks south of the Cadillac Break assaying 1.11 g/t Au over 8.00 m and 1.73 g/t Au over 10.85 m.
As part of an agreement to expand the Wood-Pandora joint venture property, Globex completed a
$50,000 exploration program on 9 adjacent mineral claims owned by Queenston. This work
included line cutting, geophysics and completing two diamond drill holes. The drilling tested
geophysical anomalies and intersected no significant mineralization. As a result of this work the
joint venture property has now been extended to 28 claims.
A compilation of previous work is being compiled on the Central-Cadillac claim group in preparation
for the next phase of diamond drilling to begin in February. In addition to testing the Ironwood Zone
at depth the joint venture will also target other iron formations on the Wood and Central-Cadillac
claims.
The Wood-Pandora drilling program was planned supervised by Globex’s Exploration Manager and
qualified person Ray V. Zalnieriunas, P. Geo. employing a QA/QC program consistent with National
Instrument 43-101 and industry best practices. The drill core will be logged and split with half-core
samples analyzed employing the appropriate gold fire assaying techniques by Expert Laboratory
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