Globex Acquires a Large Silver Exploration Licence in Saxony, Germany
ROUYN-NORANDA, QUÉBEC--(Marketwired - Sept. 12, 2017) - GLOBEX MINING ENTERPRISES INC. (TSX:GMX)(FRANKFURT:G1MN)(STUTTGART:G1MN)(BERLIN:G1MN)(MUNICH:G1MN)(XETRA:G1MN)(OTCQX:GLBXF) is pleased to inform shareholders that we have acquired a 164 square km (63.3 square mile) land package measuring 36 km long by up to 5 km wide in the State of Saxony in southeast Germany. The project herein called the Bräunsdorf licence includes the western part of the famous Freiberg silver mining district which, over an approximate 850 year history, has produced some 5,700 tonnes of silver as well as zinc and lead. The area forming the Bräunsdorf licence has produced, over a 750 year period, at least 882 tonnes of silver (28.8 million ounces) with a current value of over US$ 500,000,000 (at US$ 17.50 per oz). Six major historic silver mine camps and five minor camps or prospects are included in the licence. Previous production was from surface to a maximum depth of 580 m with most production from shallow depths due to limits imposed by mining methods and water table levels over the extensive historical mining period. Currently, the permit area is weakly populated and most of the land is used for agricultural purposes. Ten percent of the area is forested. Alluvium and overburden cover about 50% of the southern part of the Bräunsdorf licence area and approximately 80% of the northern part. Weathering extends to depths of up to 30 m and most silver veins are not exposed on surface.