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Globex Mining

Globex Mining updates on German silver property, where it has received initial survey results

The work outlined a series of three parallel northeast-southwest trending, linear magnetic high anomalies

Map of Europe
Globex's silver property is in Germany

Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) told investors it had received initial magnetometer survey results from the Bräunsdorf area on its silver property in Saxony, Germany.

The area surveyed covers a grid around  6.5km long by 1 km wide covering the principal Neue Hoffnung Gottes (NHG) vein system including the Siegfried and Neue Hoffnung Gottes shaft areas and adjoining land to the northwest.

READ THE DEEP DIVE: Mineral property bank Globex Mining eyes further growth with its diversified, low-risk model

The work outlined a series of three parallel northeast-southwest trending, linear magnetic high anomalies.

The NHG vein system seems to be parallel to the southeastern most of these magnetic anomalies within an area of magnetic low, the company said. The other linear anomalies suggest corresponding linear, parallel magnetic lows similar to the one near the NHG silver vein system border.

The firm is awaiting final magnetometer data as well as completion of magnetometer surveys on other silver target areas as well as results from a number of induced polarization (IP) survey lines which should be started shortly. Soil sample surveys will also begin shortly in select areas.

Globex is an exploration, royalty and property bank and has 168 assets.

Shares were unchanged in Toronto at $0.325.

Contact Giles at [email protected]

Quick facts: Globex Mining

Price: $0.35

Market: TSX
Market Cap: $19.04 m
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