Global Minerals Updates Strieborna Drill Results
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/03/13 -- Global Minerals Ltd. (TSX VENTURE: CTG)(OTCBB: GMLFF) is pleased to announce the results of eight drill holes from its on-going infill and expansion underground drill program at its 100% owned Strieborna silver/copper project in Slovakia. Drilling results continue to confirm the high grade nature of the vein in the upper portion of the deposit. As part of the ongoing mine planning study, this area is expected to be mined first. Drilling continues from the second (southwest) drill platform on level 6 to test for grade continuity and new areas that may lead to resource expansion.
Highlights from the drilling include:
-- Drill Hole STR-06-12-009 intercepted 5.6 m at 453 g/t Silver and 1.8 %
Copper.
-- Drill Hole STR-06-12-010 intercepted 2.8 m at 353 g/t Silver and 1.4 %
Copper.
-- Drill Hole STR-06-12-015 intercepted 4.9 m at 390 g/t Silver and 1.1 %
Copper.
(Summary of all results and drill whole locations are presented in the accompanying table and long sections.)
Drill Holes STR-06-12-011 to 013 did not encounter significant mineralization and have confirmed the upper limit (northeast extension) of the vein, which approximates the limits of the 2008 geological model. The results of the drill program will be used in an updated resource estimate and ongoing economic assessment being performed by the Company's independent consultants AGP Mining Consultants Inc.
About Strieborna
Strieborna is a high-grade, silver-copper, vein-type deposit in an historic mining district near the town of Roznava in eastern Slovakia. Significant infrastructure at the site includes a working shaft and hoisting system, extensive underground access through a series of drifts, crosscuts and tunnels and associated surface facilities including a tailings facility. Global is working to advance the property into commercial production with a significant high-grade resource base that also has excellent expansion potential.
QUALIFIED PERSON: William Bond, M.Sc., Geol. and VP Exploration for Global is the Qualified Person (QP) under NI 43-101 responsible for the Strieborna exploration program. He has verified the drill results and other data disclosed in this news release, including sampling, analytical and test data. Field work has been conducted under his supervision. All samples were submitted to ALS Minerals for analysis in Rosia Montana, Romania and Vancouver, Canada. Gold samples were analyzed by fire assay and atomic absorption spectroscopy with a 30 gram nominal sample weight. Silver, Copper, and Antimony were analyzed by induction coupled plasma - atomic emission spectroscopy (ICP-AES) using four acid digestion methods. Mercury values were analyzed by induction coupled plasma - atomic emission spectroscopy (ICP-AES) using an aqua regia leach. Quality control and quality assurance protocols were incorporated with the submitted samples which included standards, blanks, and duplicate analysis.
FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.
FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Readers are advised that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately. Readers should refer to the continuous disclosure documents filed by Global and available at www.sedar.com, for detailed information, which is subject to the qualifications and notes set forth therein.
For further information about Global, visit www.globalminerals.com.
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Strieborna Underground Drill Results
April 3, 2013
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Interval Grade Grade Grade
From To Length Wt.Av. Wt.Av. Wt.Av.
Hole ID (m) (m) (m) Ag g/t Cu % Au g/t
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STR-06-12-009 129.60 135.22 5.62 453.1 1.82 0.166
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STR-06-13-010 133.75 136.55 2.80 352.9 1.43 0.118
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STR-06-13-011 125.90 126.20 0.30 No Significant Values
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STR-06-13-012 124.45 124.70 0.25 No Significant values
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STR-06-13-013 118.42 118.84 0.42 No Significant values
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STR-06-13-014 126.14 129.87 3.73 238.8 0.91 0.104
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STR-06-13-015 113.03 117.90 4.87 390.2 1.51 0.156
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STR-06-13-016 105.45 107.15 1.70 202.3 0.79 0.086
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STR-06-13-017 100.14 104.32 4.18 114.7 0.50 0.049
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To view the maps accompanying this press release, click on the following link: http://media3.marketwire.com/docs/g42m.pdf
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Global Minerals Ltd.
William Pincus
604.669.2355
Global Minerals Ltd.
Ms. Lubica Parilakova
604.669.2355
lparilak@globalminerals.com
www.globalminerals.com