Globex Mining Enterprises INC., an exploration and royalties enterprise, is delighted to report to its shareholders that Excellon Resources Inc. has declared the drill results from its 24 drill hole program on the Silver City (Bräunsdorf) project in Saxony Germany under option from Globex.
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Excellon, in their press release dated February 9th, 2022 has reported that 23 out of 24 drill holes (8,360 m) completed so far sectioned the target structures.
Listed below are the highlights as reported by Excellon.
- Step-out drilling sectioned considerable silver mineralization at four targets, with outcomes including:
- 1,633 g/t silver equivalent (“AgEq”) over 0.35 m (1,470 g/t Ag, 0.2 g/t Au, 2.9% Pb and 2.1% Zn) within 257 g/t AgEq over 2.90 m (232 g/t Ag, 0.4% Pb and 0.3% Zn) in SC21GVB020 at Peter Vein
- 1,296 g/t AgEq over 0.35 m (1,260 g/t Ag, 0.2 g/t Au, 0.6% Pb and 0.3% Zn) within 592 g/t AgEq over 1.05 m (508 g/t Ag, 0.1 g/t Au, 1.4% Pb and 1.2% Zn) in SC21GWO033 at Grauer Wolf
- 266 g/t AgEq over 0.65 m (228 g/t Ag, 0.1 g/t Au, 0.7% Pb and 0.5 % Zn) within 169 g/t AgEq over 1.93 m (137 g/t AgEq, 0.3% Pb and 0.6% Zn) in SC21GWO030 at Grauer Wolf; and
- 383 g/t AgEq over 0.38 me (7.0 g/t Ag and 5.0 g/t Au) in SC21REI027 at Reichenbach
- Diamond drill holes of 24 totaling 8,360 m completed on the program so far, having 23 holes sectioning target structures, assays pending on four holes and an extra three holes to be drilled at Grauer Wolf in Q1 2022 to accomplish the 2021 program
- Historical data review, structural and geological modeling, and soil sampling and prospecting are ongoing on the Bräunsdorf license, having extra soil lines scheduled for the Oederan, Mohorn and Frauenstein licenses to be utilized to refine drill targets for the 2022 drilling program.
The results from our 2021 drill program confirmed the continuity of the structures intersected in the initial drilling at Silver City. Drilling at Grauer Wolf and Peter Vein returned high-grade results over a strike of 170 and 300 m, respectively, with up to eight-metre-wide zones of hydrothermal alteration and stockwork.
Jorge Ortega, Vice President Exploration, Globex Mining Enterprises
Ortega added, “These are clear indicators of the potential of the system to host economic mineralization and our continuing goal is to identify broader zones of mineralization at the high grades we have encountered to date. We are also continuing to review the historical exploration and mining data and collect surface geochemical data ahead of our 2022 exploration drill program.”