VANCOUVER, June 20 /CNW/ - Global Minerals Ltd. (CTG: TSX-Venture
Exchange, DFP: Frankfurt Exchange, OTC: GMLFF.PK) is pleased to provide a
Production and Sales update for the Front Range Project.
FRONT RANGE PROJECT: PRODUCTION & SALES UPDATE
Gold & Silver Sales
Seven truckloads of concentrate have been shipped to date in 2008. This
compares to eight truckloads for all of 2007. It is anticipated that an
additional fifteen truckloads of concentrate will be shipped to the smelter
during the remainder of the year. Each truckload contains 20 to 30 tons of
Provisional payments for shipments (approx. 80% of value) are occurring
about 60 days from the shipping date. Final payments are typically received
90 to 120 days from the shipping date.
Production & Development
Mine production is averaging 35-60 tons per day, 4 days per week. The
mill operates 24 hours per day, 4 days per week and output averages 1.8 to
2.2 tons per hour.
The grade of the mill feed has increased significantly because the mine
crew has been able to reduce dilution by improved selectivity of mining in the
A total of seven stopes are now in production. Three new stopes are in
development and two are in inventory. Re-development of the Saint Joe shaft
should begin in late July/early August. This shaft will provide access to the
Saint Joe workings from the Cash Mine, as well as further ventilation for the
workings in the Freiburg and Cash Veins. Depending on conditions, the Saint
Joe tunnel may provide additional escape routes from the mine.
Current exploration/development drifting from the Cash northeast in the
cross cut to the northern part of the Freiburg vein is progressing at 2m per
day. It is expected that this drift will provide access to the Mack, Keystone
State, Columbus and Horsfal vein systems. Near term, this drift should provide
an additional 30-40 m of stoping on the Freiburg vein. Core drilling in the
Cash northeast has identified the Saint Joe vein underground less than 30 m
from the end of the drift. This drift will continue to the Saint Joe vein and
access the bottom of the Saint Joe shaft. The goal is to connect to current
and additional vein systems in past producing mines in the district.
Three hundred and fifty five feet of drifting on the Cash Vein to the
Northeast has yielded 106 feet of 0.53 opt Au, 1.2 ft stope (weighted average)
and 124 feet of 1.22 opt Au, 0.94 ft stope. Over 1500 feet of underground
drilling has identified 3 vein targets on the Saint Joe, Deerkson and a third
previously unidentified vein.
Surface drill sites have been prepped for the 2008 season. The
underground drill has finished the scheduled holes for the 2007-2008 season
and is undergoing preventative maintenance in anticipation of an early start
for the 2008-2009 underground program.
On the cash vein, assay results varied from .059 to 9.92 ounces per ton
gold, with silver ranging from (less than)0.2 to 24.54 ounces per ton. Assays
on the Freiburg vein ran .26 and 1.42 ounces per ton gold with 4.50 and
14.74 ounces per ton silver. Sampling on the MRV -3 vein ran .232, .214,
.057 opt gold and 1.72, .58, .02 opt silver. Samples of veins were diamond
sawed spanning the alteration limits across the vein where practical. The
samples were fire assayed in the company's on-site laboratory. They give an
indication of gold and silver mineralization. They are not statistically
distributed for ore reserve calculation purposes.
This press release was prepared by George Heard, BSC, MBA, Peng, a
qualified person in accordance with National Instrument 43-101 standards of
disclosure for mineral projects.
Global Minerals Ltd.
"George W. Heard"
George W. Heard
President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this news release.
For further information:
For further information: About Global, Visit www.globalminerals.com, or
contact investor relations, Derek Sutherland, at (778) 786-1531 or email