- Globex stakes 16 claims totalling 133.78 hectares in Clark County, Nevada
- Grab samples assayed up to 1,171 g/t silver and 11.5 g/t gold
- Red Star Project hosts two epithermal quartz vein systems with multiple mineralized pulses.
- Globex Mining (TSX: GMX) last traded at C$0.73, unchanged
Globex Mining Enterprises Inc. (TSX: GMX) has announced results from its 100-per-cent-owned Red Star Project in Clark County, Nevada, where grab sampling has returned assays of up to 1,171 grams per tonne (g/t) silver and 11.5 g/t gold.
The project consists of 16 unpatented lode claims covering 133.78 hectares.
It hosts two epithermal quartz vein systems: the Red Star vein system, which extends over 2 kilometres, and the Double Standard vein system, which extends 1.3 kilometres. Globex controls the western 470-metre portion of Double Standard.
Historic exploration in the Crescent Mining district, where the project is located, dates back to 1894.
Mining activity peaked between 1905 and 1907, with smaller operations continuing until 1942. Historic production included turquoise, gold, silver, copper, and lead, although complete records are unavailable.
Globex has collected 65 rock samples from the Red Star property, including grab and chip samples. Results from the Red Star vein include widths of up to 4.5 metres with gold values as high as 2.01 g/t and silver up to 46.2 g/t.
The company also reported ginguro quartz bands yielding gold equivalent values ranging from 4.83 g/t to 20.4 g/t.
The Red Star vein system averages four metres in width and can be traced laterally for at least 2,240 metres, while Double Standard veins measure 0.2 to 1.5 metres thick.
Mineralization styles observed include both low- and intermediate-sulfidation epithermal pulses.
Samples were analyzed by American Assay Laboratories in Sparks, Nevada, using fire assay for gold and ICP-OES for silver and other elements. Quality assurance included re-analysis of samples with gold values above 10 ppm and silver values above 100 ppm.
Globex described the Red Star Project as offering discovery potential for epithermal high-grade gold-silver, polymetallic silver-gold, and wide low-grade mineralization.
The technical disclosure in the release was prepared by CEO and Executive Chairman Jack Stoch, P.Geo., a Qualified Person under NI 43-101, and Eurogeologist Matthias Jurgeit.
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