Global Reports Strieborna Drill Results; Confirms High-Grade Zone and Extends Mineralization Upward
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/06/13 -- Global Minerals Ltd. (TSX VENTURE: CTG)(OTCBB: GMLFF) is pleased to announce the results of 12 new drill holes from its now-completed underground drill program at its 100% owned Strieborna silver/copper project in Slovakia.
Highlights from the drilling include:
-- Drill hole STR-06-13-022 intercepted 11.7 m containing 507 g/t Silver
and 1.8 % Copper
-- Drill hole STR-06-13-024 intercepted 18.2 m containing 427 g/t Silver
and 1.3% Copper.
-- Drill hole STR-06-13-025 intercepted 16.7 m containing 489 g/t Silver
and 1.5% Copper.
-- Drill hole STR-06-13-026intercepted 9.0 m containing 590 g/t Silver and
2.3% Copper.
(Please see the accompanying table below.)
Drilling from the 2nd drill station on level 6 (approximately 180 meters below surface) confirms that the main body of mineralization continues to extend up-dip and towards the southwest (see illustrations below). The last drill hole, STR-06-13-033, in this area intersected 7.4 meters containing 189 g/t silver and 0.8% copper approximately 10 meters below Level 6 and indicates that the mineralization extends at least 50 meters above the top of the previously projected resource. Significant vein widths and high grade silver and copper mineralization in the upward extension of the vein could improve the project's economics as a result of early access in these areas.
Bill Pincus, Global's CEO, said, "These are very exciting results and improve the size and potential economics of the property. We have intercepted some very high grades - in some cases multiple kilos of silver per tonne. The persistence of mineralization over the drill hole intercepts coupled with considerable vein thickness is impressive. The upward extension of the vein is also important as it indicates the potential for additional high grade material in areas that are most accessible in the proposed mining sequence."
The Company intends to use the results of the drill program to update its resource estimate and complete a Preliminary Economic Assessment in the third quarter of this year.
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Strieborna Underground Drill Results
June 5 2013
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Wt. Ave. Gd. Wt. Ave. Gd.
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Interval
Hole ID From To Length(ii) Ag ppm Cu %
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STR-06-12-022(i) 89.88 101.60 11.72 507 1.79
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STR-06-12-023 84.30 98.00 13.70 138 0.53
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STR-06-12-024(i) 84.10 102.25 18.15 427 1.28
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STR-06-12-025(i) 74.80 91.48 16.68 489 1.54
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STR-06-12-026(i) 66.53 75.50 8.97 590 2.27
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STR-06-12-027 40.62 48.51 7.89 137 0.59
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STR-06-12-028 106.67 111.95 5.28 77 0.31
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STR-06-12-029 67.64 76.41 8.77 277 0.96
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STR-06-12-030 60.74 69.67 8.93 271 1.10
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STR-06-13-031 83.00 83.82 0.82 94 0.56
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STR-06-12-032 77.82 85.45 7.63 100 0.49
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STR-06-12-033 77.17 84.60 7.43 189 0.79
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(i) Ag analysis cut to 2000 ppm including 1 sample in STR-06-13-022, 2
samples in 025, 3 samples in 024.
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(i) Cu and Sb analysis cut to 5% including 1 sample in STR-06-13-022, 029
and 1 Cu sample in STR-06-13-026, 3 samples in 024, and 2 samples in
025.
(ii) True vein thickness is less than the interval length.
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To view the illustrations accompanying this press release, please visit the following link: http://media3.marketwire.com/docs/878786.pdf
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 include 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 in this release include statements regarding, among others; extension of higher grades towards surface, excellent expansion potential of resources, updating resource estimates and completing a Preliminary Economic Assessment in Q3 2013.
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.
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