Cerrado to Advance Mont Sorcier Iron/Vanadium Project
30 Ottobre 2024 - 5:52PM
CHIBOUGAMAU INDEPENDENT MINES INC. (CBG-TSX-V in Canada,
CLL1-Frankfurt, Stuttgart and Lang & Schwarz Stock Exchanges in
Germany, CMAUF-OTC in the US) and GLOBEX MINING ENTERPRISES INC.
(GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin,
Munich, Tradegate, Lang & Schwarz, L&S
Exchange, TTMzero, Düsseldorf, Quotrix Düsseldorf
Stock Exchanges and GLBXF – OTCQX
International in the US) are pleased to update
shareholders of the following:
Cerrado Gold Inc. (CERT-TSXV) reported today
that funds received from the sale of their Monte Do Carmo project
in Brazil will be used in part to “complete a feasibility study of
our very robust Mont Sorcier Iron Ore Project” on
which both Chibougamau Independent Mines and Globex Mining
Enterprises Inc. hold Gross Metal Royalties of 2% (all minerals)
and 1% (iron and all minerals excluding vanadium) respectively.
Globex also holds 11,000,000 shares of Electric Royalties
(ELEC-TSXV) which has a 1% Gross Metal Royalty on vanadium
production from the property.
Per today’s Cerrado press release, “Cerrado
holds a 100% interest in the Mont Sorcier Iron Ore and Vanadium
project, which has the potential to produce a premium iron ore
concentrate over a long mine life at low operating costs and low
capital intensity. Furthermore, its high grade and high purity
product facilitates the migration of steel producers from blast
furnaces to electric arc furnaces, contributing to the
decarbonization of the industry and the achievement of SDG
goals.”
The Mont Sorcier Iron/Vanadium deposit
has an Indicated Resource of 678,500,000 tonnes grading 36.4%
Fe2O3
and 0.20%
V2O5
and an Inferred Resource of 546,600,000 tonnes grading
34.1%
Fe2O3
and 0.17%
V2O5
(per NI 43-101 Technical Report and Mineral
Resource Estimate for the Mont-Sorcier Property, Quebec, Canada,
Prepared for Voyager Metals Inc. by Mathieu Girard, P. Eng., Soutex
Inc., Quebec City (Quebec) and Simon Boudreau, P.Eng., InnovExplo
Inc. Longueuil (Quebec), Marina Lund, P.Geo., InnovExplo Inc.,
Quebec City (Quebec) and Carl Pelletier, P. Geo., InnovExplo,
Val-d’Or (Quebec) available here.
Jack Stoch, P.Geo. President and CEO of Globex
Mining Enterprises Inc and Chibougamau Independent Mines Inc. wrote
this press release in his capacity as a Qualified Person (Q.P.)
under applicable regulations.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of the release. The TSX has not reviewed
and does not accept responsibility for the adequacy or accuracy of
this release.
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We Seek Safe Harbour. |
Foreign Private Issuer 12g3 – 2(b) |
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CUSIP Chibougamau Independent Mines - CBG-V 167101 10 4 CUSIP
Globex Mining Enterprises - GMX 379900 50 9 |
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For further information, contact: |
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Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining
Enterprises Inc. Chibougamau Independent Mines Inc. 86, 14th Street
Rouyn-Noranda, Quebec Canada, J9X 2J1 |
Tel.: 819.797.5242 Fax: 819.797.1470 info@globexmining.com
www.globexmining.com |
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Forward Looking Statements
Except for historical information this News
Release may contain certain “forward looking statements”. These
statements may involve a number of known and unknown risks and
uncertainties and other factors that may cause the actual results,
level of activity and performance to be materially different from
the Companies expectations and projections. A more detailed
discussion of the risks is available in the current Globex’s
“Annual Information Form” available on SEDAR
https://www.sedarplus.ca.
Grafico Azioni Globex Mining Enterprises (TSX:GMX)
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