Global Minerals Ltd.: Positive Underground Drill Results at Global's Strieborna Vein
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/06/13 -- Global Minerals Ltd. (TSX VENTURE: CTG)(OTCBB: GMLFF) is pleased to announce the results of three new drill holes from its on-going underground infill and expansion drill program at its 100% owned Strieborna silver/copper project in Slovakia.
Highlights from the drilling include:
-- Drill hole STR-06-13-020 intercepted two intervals, 8.8 m at 338 g/t
Silver and 1.2 % Copper followed by 11.9 m at 157 g/t Silver and 0.6 %
Copper.
-- Drill hole STR-06-13-021 intercepted 14.9 m at 321 g/t Silver and 1.2%
Copper.
(Please see the accompanying table and long sections for more detail.)
Of interest, holes STR-06-13-20 and 21 are the deepest of the program and intersect some of the widest mineralized portions of the vein. The drilling has demonstrated that these wide zones now extend at least 75 meters further to the southwest than previously known. Some of the best grades have also been found in this area. On-going drilling will define the potential up-dip extension of this high-grade zone. Drill holes STR-06-13-18 and 19 intersected narrow vein structures, possibly due to a change in the host rock, and confirmed the previously defined upper limit of the vein in this area.
The Company anticipates completing the drill program in the coming weeks and will then proceed with a resource update to include the new results.
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. It has excellent expansion potential over and above the already well-defined resource. Significant infrastructure at site includes a working shaft and hoisting system, extensive underground access through a series of drifts, crosscuts and tunnels and associated surface facilities.
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
May 2, 2013
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Wt. Wt.
--------------------------------------------------- Ave. Gd. Ave. Gd.
Hole ID From (m) To (m) Length (m) Ag g/t Cu %
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Vein with no
STR-06-13-018 sample collected
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Vein with no
STR-06-13-019 84.68 85.56 0.88 significant values
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STR-06-13-020 124.60 133.42 8.82 337.79(1) 1.18(2)
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STR-06-13-020 138.10 150.00 11.90 157.09 0.63
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STR-06-13-021 129.50 144.39 14.89 320.60 1.24(2)
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(1) Ag analysis cut to 2000 ppm including 1 sample in STR-06-13-020
(2) Cu analysis cut to 5% including 1 sample in STR-06-13-020 and 021
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To view the maps accompanying this press release please click on the following link: http://media3.marketwire.com/docs/GlobalMaps56.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
President and CEO
604.669.2355
Global Minerals Ltd.
Ms. Lubica Parilakova
Manager Investor Relations
604.669.2355
lparilak@globalminerals.com
www.globalminerals.com