Translate
TSX Venture Exchange Symbol: CTG
Frankfurt Exchange Symbol: DFP.F
VANCOUVER, Nov. 22 /CNW/ - Global Minerals Ltd. (CTG:TSXV, DFP:Frankfurt) is pleased to announce further updates on Alto Sobrido.
Summary of Results
Confirmation and reconnaissance sampling was completed on three prospects on the property: Tapada, Ribeiro da Serra and the Alto Sobrido. At Tapada chip sampling at adit six assayed 6.16 gm/tonne gold 2.0 gm/tonne silver and 0.12% antimony.
At Ribeiro da Serra samples from the adit assayed 2.33, 5.80, and 1.64 gms/tonne gold, 4.4, 2.4, and 1.0 gms/tonne silver, 5.85%, 3.37% and 1.33% antimony. Sampling at the stope face assayed 32.00 gm/tonne gold, 4.1 gm/tonne silver and 15.99% antimony. Various samples taken on the Alto Sobrido prospect assayed from .18 to 23.20 gms/tonne gold, .3 to 17.6 gms/tonne silver and .16% to 43.38% antimony. The samples taken and assayed were taken to give an indication of gold, silver and antimony mineralization; they are not statistically distributed for ore reserve calculation purposes.
In management's opinion these results are positive and drill targets have been established. Environmental base line studies have been initiated and drilling will commence when a suitable drill rig is available.
What is Antimony?
Antimony is an industrial metal. It is used primarily in lead acid batteries, as a flame retardant and as a catalyst. The current price for antimony ingots is $2.55 US per pound. 1% antimony equates to 22lbs per metric tonne.
Quality Control and Assurance
All samples for gold and antimony were completed at OMAC Labs Ltd., in County Galway, Ireland (an ISO 17025 certified facility) using standard industry practices and conventional atomic absorption and fire assay methods for gold. Antimony assays were completed by GAR Aqua Regia Digestion and Flame AA finish. Over limit ((greater than)2.0%Sb) values were check assayed by OMAC method HBr/ICP, a high precision analysis using ICP (+/-2%) for base metals.
About Alto Sobrido
The Alto Sobrido gold antimony project is located in Northern Portugal. It is located roughly 16 kilometers east of the city of Porto and covers an area of approximately 16.0 square kilometers. Within the property are several workings that produced antimony from veins. In addition, recent exploration work was conducted by BRGM (Bureau de Recherches Geologiques et Minieres) and the Portuguese EDM (Empresa de Desenvolvimento Mineiro) and latterly Connary Minerals PLC.
Global Minerals Ltd. has signed a letter of intent to earn 50% interest in the property. The property is currently held by Kernow Resources & Developments Ltd. This acquisition fits Global Minerals' strategy of acquiring advanced stage mineral projects. Portugal is a member of the European Union and as such meets the company's corporate criteria regarding country risk. With current metal prices at $800.00 US per ounce gold and $2.55 per pound antimony, management believes that the Alto Sobrido project could provide an attractive return on investment.
Global Minerals is a Canadian-based company with focus on the acquisition, exploration and development of mineral property interests.
This press release was prepared by George Heard, B. Sc., MBA, P. Eng, a qualified person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Global Minerals Ltd.
"George Heard"
George W. Heard
President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this release.