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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/20/13 -- Global Minerals Ltd. (TSX VENTURE: CTG)(OTCBB: GMLFF) is pleased to announce the initial results from an on-going underground drill program at its 100% owned Strieborna silver project in Slovakia. The program is designed to define and expand resources in the upper portion of the mineral deposit in areas where early mine development may be anticipated.
--------------------------------------------------------------------------Table 1. Strieborna Underground Drill Results-------------------------------------------------------------------------- Interval LengthHole ID From To (meters) Ag ppm Cu %--------------------------------------------------------------------------STR-06-12-001 125.80 127.95 2.15 289.0 1.22--------------------------------------------------------------------------STR-06-12-002 124.55 127.50 2.95 233.8 0.99--------------------------------------------------------------------------STR-06-12-003 148.10 148.55 0.45 1420.0 11.25--------------------------------------------------------------------------STR-06-12-004 149.15 151.30 2.15 No significant values--------------------------------------------------------------------------STR-06-12-005 122.90 124.95 2.05 28.3 0.21--------------------------------------------------------------------------STR-06-12-006 138.05 145.57 7.52 156.1 0.61--------------------------------------------------------------------------STR-06-12-007 142.53 149.65 7.12 297.1 1.21--------------------------------------------------------------------------STR-06-12-008 132.65 140.30 7.65 41.2 0.16--------------------------------------------------------------------------Cu analyses top-cut to 5% for one sample in STR-06-12-006Assays for the intervals are weight averaged.--------------------------------------------------------------------------
Drilling was conducted from the first of two drill stations on Level 6 approximately 180 meters below surface. The top of the deposit is approximately 35-50 meters below this level. The drill program will confirm the upper limits of the deposit as well as the grade and continuity of the silver resource in this area. Future resource estimates and development plans to exploit this high grade area of the deposit will be based on this new information.
An updated resource estimate is planned for Q3 2013 and will be incorporated into engineering and economic studies being carried out by AGP Mining Consultants on behalf of the Company.
About Strieborna
Strieborna is a high-grade silver-copper vein type deposit in an historic mining district near the town of Roznava in eastern Slovakia. It has excellent expansion potential over and above the already well-defined resource. Significant infrastructure at site include a working shaft and hoisting system, extensive underground access through a series of drifts, crosscuts and tunnels and associated surface facilities. Global is using all efforts to advance the property into commercial production.
