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globex mining enterprises (GMX) Details

Globex Mining Enterprises Inc. engages in the acquisition, exploration and development of mineral properties in North America. It primarily explores for base metals, including copper, nickel, zinc, and lead; precious metals comprising gold, silver, platinum, palladium, osmium, and iridium; 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 and apatite, as well as talc and magnesium. The company was formerly known as Lyndhurst Mining Company Limited and changed its name to Globex Mining Enterprises Inc. in June 1974. Globex Mining Enterprises Inc. was founded in 1949 and is headquartered in Rouyn-Noranda, Canada.

Founded in 1949

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. 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.

Globex Mining Enterprises Inc. Announces the Results from Two Drill Programs on Eagle Mine Property and Lac à l'Eau Jaune Property

Globex Mining Enterprises Inc. announced the results from two drill programs on Eagle Mine Property and Lac à l'Eau Jaune Property. On the Eagle Mine Property, Globex drilled two holes EM-14-01 and EM 14-02B of 595 metre and 1,011 metre lengths respectively. Hole EM-14-01 intersected wide zones of semi massive and heavy disseminated pyrite in the mine horizon approximately 100 metres northwest of the mine with three areas of sulphide giving significant gold assays. Hole EM-14-02B was collared approximately 120 metres southeast of hole EM-14-01 and intersected the same pyritic horizon 475 metres below and approximately 100 metres southeast of the first hole. Sulphide mineralization was heavy but not as concentrated as in the first hole. Hole EM-14-02B returned the following gold assays. True widths are unknown as the core displayed significant flexures and folding. For planning purposes, a true width of approximately 65% is used internally. Two drill holes LEJ-14-01 and LEJ-14-02 were drilled on the Lac à l'Eau Jaune Property to test two moderate induced polarization anomalies indicated under the south end of the lake. The drill holes are located approximately 320 metres apart in a north-south direction and were of 480m and 324m lengths respectively. Neither drill hole intersected significant gold values but hole LEJ-14-02 intersected an exhalative chert horizon with 0.49% Cu and 0.20 g/t Au. This mineralized horizon warrants additional work. North of the area drilled, a grid covering 14 linear kilometres was blanketed by a combined magnetometer and induced polarization survey. The geology in the grid area will be mapped this summer in anticipation of a drill program next winter. All samples were delivered to Expert Laboratories Inc., located at 127 Boulevard Industriel, Rouyn- Noranda, Quebec. The laboratory conducted all aspects of the sample preparation. Samples were dried and crushed to 90% passing a -10 mesh screen. A 300-gram subsample was taken for pulverization to a nominal 90% passing -200 mesh with the remaining crushed rejects being retained. A 29.166-gram sub-sample of this pulp (1 assay-ton) was taken and was fused following the standard procedures used in a fire assay method. The gold content of all samples was determined using Atomic Absorption Spectroscopy (Method Code: Au FA-GEO, lower detection limit 5 ppb). Any samples found to contain greater than 1 g/t Au were subjected to a re-assay, whereby the gold content was determined using a gravimetric fire assay method.


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