Globex Reports Positive Preliminary Economic Assessment for O'Brien Mine

Minières Globex Inc. announced a positive Preliminary Economic Assessment for the O’Brien gold project in Quebec. The assessment includes a 2% Net Smelter Royalty to Globex on certain claims, covering 22% of the projected gold production. The mine has an 11-year lifespan with 740 Koz extracted and 647 Koz recovered annually.

The O’Brien project will have an average annual gold production of 70 Koz over 11 years, with a net cash flow after taxes of $97M. Recent drilling results have been positive, and the project is based on resource estimates from 2023. Shareholders are encouraged to review Radisson’s detailed technical data.

Globex is pleased with Radisson’s progress and potential revenue from the Kewagama royalty. The mineralized gold zones on Kewagama’s claims are open in multiple directions, including towards Globex’s Central Cadillac Gold and Wood property. This area includes the Ironwood gold deposit, with indicated resources of 243,800 t at 14.38 g/t Au.

Jack Stoch, President and CEO of Globex, issued the press release as a Qualified Person under Regulation 43-101. The release includes forward-looking statements and outlines the potential risks associated with the project. Shareholders are advised to review the risks in Globex’s annual report on SEDAR’s website.

Read more at GlobeNewswire: 22% de la production initiale de la mine O’Brien dans la