Global Updates Regional Exploration

VANCOUVER, Nov. 27, 2011 /CNW/ - Global Minerals Ltd. (TSXV: CTG) ("Global or the Company") is pleased to provide this update on regional exploration activities surrounding its 100%-owned Strieborná silver/copper deposit in Roznava Slovakia.

The Company controls approximately 135 square kilometers of exploration concessions surrounding the mining concessions of the Strieborná project area. A compilation of regional information led the Company to focus follow-up exploration in two areas known as Cucma and Paca. The historic Cucma gold/antimony district is approximately 3.5 km north of the Strieborná deposit. Paca, 1.5 km southeast of Strieborná represents a possible buried vein system similar to Strieborná.

GOLD AND ANTIMONY AT CUCMA

The Cucma district is an historic district which has been mined for antimony in the post-WWII era. All mines are now shut-down and abandoned. Prospecting has been in a 4 kilometer-long vein system. Rock samples, mostly from old dumps, have identified high grade gold and antimony for at least 3 of the 4 kilometers of the system. Some selected samples included:

Strieborná Regional Exploration, Selected Rock Sample Results, Nov 2011
Sample ID Au
(ppm)
Sb
(%)
  Vein Comment
VP1 17.3 3.7   Vincent Dump, blind shaft
GH1b 18.0 9.0   Gabriela  Dump Sample
GH1d 19.0 47.0   Gabriela Dump Sample
JH2b 5.2 4.6   Jozef Dump Sample

*Sample locations and results can be viewed in the following map and table (pg. 4-6)

Global has completed geochemical sampling, Hg spectrometry, and resistivity surveys over much of the Cucma area. The region is heavily vegetated and therefore outcrops are generally not available for sampling. Caved adits, shafts, and dumps clearly indicate the prior activity however. The Company continues to evaluate data and will identify drill targets for next year

PACA - POSSIBLE NEW VEIN SYSTEM SIMILAR TO STRIEBORNÁ

Geochemical and geophysical prospecting has also identified a possible buried vein system located 1.5 kms southeast of the Strieborná vein.  Mercury (Hg) anomalies, similar to those found at Strieborná, have been identified at Paca. This, together with positive results from geophysical surveys (IP and resistivity) indicates the possible vein type mineralization.  Additional geophysical surveys are currently being completed and a thorough evaluation of this newly discovered zone will be completed in the next few months.  The company also plans to drill these targets next year.

Field work is near completion for this season and Global will continue evaluating the results in order to further define potential drill targets in preparation for the 2012 work plan.

About Strieborná

Strieborná is a high-grade silver-copper-antimony vein type deposit in an historic mining district near the town of Roznava in eastern Slovakia.  The current NI 43-101 resource occurs within a mineralized structure 1.2 km long, 600 m deep and an average thickness of 3.4 m.  The resource has been defined by diamond drilling and a series of four horizontal underground drifts totaling 3,000 m.  The mineralization is open in various directions along the vein structure.  Other similar structures have been identified within the mining and exploration leases and will be the focus of future exploration drill programs.

In addition to the upside of the exploration potential and the high-grade nature of the polymetallic mineralization, the project has excellent infrastructure, including sufficient electrical power, railway access, paved highways and a local work force experienced with underground operations. 

Global Minerals Ltd. is a Canadian exploration and development company focused on developing its high-grade silver, copper, antimony deposit in Slovakia.  Global is 32% owned by Esperanza Resources Corp. (EPZ.V) whose principals are now involved in supervising the technical programs and future development.

QUALIFIED PERSON: William Bond, M.Sc., Geol. and VP Exploration for Global is the Qualified Person (QP) under NI 43-101 responsible for the Strieborná exploration program. He has verified the drill results and other data disclosed in this news release, including sampling, analytical and test data. Field work has been conducted under his supervision.  All samples were submitted to ALS Chemex laboratories for analysis in Rosia Montana, Romania and Vancouver, Canada.  Gold samples were analyzed by fire assay and atomic absorption spectroscopy with a 30 gram nominal sample weight. Initial Silver values were determined by fire assay with a 30 gram nominal sample weight and gravimetric finish.  Over range Silver, Copper, and Zinc is analyzed by induction coupled plasma - atomic emission spectroscopy (ICP-AES) using four acid digestion methods.  Over range Antimony is analyzed by fusion XRF.

FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.

FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Readers are advised that National Instrument 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately.  Readers should refer to the annual information form of Global for the year ended June 30, 2010 and other continuous disclosure documents filed by Global since September 30, 2010 available at www.sedar.com, for this detailed information, which is subject to the qualifications and notes set forth therein.

RESOURCES: The terms "measured resource", "indicated resource" and "inferred resource" used in this news release are Canadian geological and mining terms as defined in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council as may be amended from time to time by the CIM. Mineral resources that are not mineral reserves do not have demonstrated economic viability. We advise U. S. investors that while such terms are recognized and permitted under Canadian regulations, the SEC does not recognize them. U. S. investors are cautioned not to assume that any part or all of the mineral deposits in the measured, indicated, and inferred categories will be converted into reserves.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

           

Sample ID Au ppm Sb ppm Sb % Vein Comment
JH1a 0.058 1910   vein Jozef dump
JH1b 2.070 4850   vein Jozef dump
JH2a 0.255 >10000 1.64 vein Jozef dump
JH2b 5.170 >10000 4.60 vein Jozef dump
JH2c 0.552 >10000 1.25 vein Jozef dump
JH3a 0.271 >10000 2.87 vein Jozef dump
JH3b 0.455 >10000 3.69 vein Jozef dump
KH1 5.490 >10000 10.95 Vein Gabriela and Klement dump
KH2 0.762 >10000 7.42 Vein Gabriela and Klement dump
KH3 6.120 >10000 10.20 Vein Gabriela and Klement dump
KH4 5.770 3580   Vein Gabriela and Klement dump
KH5 2.450 >10000 1.215 Vein Gabriela and Klement dump
GH1 13.700 3320   vein Gabriela dump
GH1a 3.770 >10000 6.90 vein Gabriela dump
GH1b 18.000 >10000 9.02 vein Gabriela dump
GH1c 10.000 >10000 33.90 vein Gabriela dump
GH1d 18.950 >10000 47.40 vein Gabriela dump
GH1e 15.250 >10000 1.15 vein Gabriela dump
GH1f 2.320 >10000 5.40 vein Gabriela dump
GH1g 0.672 1950   vein Gabriela dump
KLH1a 0.213 >10000 5.95 vein Klement dump, lower shaft
KLH1b 0.181 820   vein Klement dump, lower shaft
KLH2a 1.625 3760   vein Klement dump, upper shaft
KLH2b 4.670 >10000 9.31 vein Klement dump, upper shaft
VP1 17.300 >10000 3.71 vein Vincent dump blind shaft
VP1a 0.352 2850   vein Vincent dump blind shaft
VP1b 0.357 >10000 2.41 vein Vincent dump blind shaft
VP1c 1.125 3100   vein Vincent dump blind shaft
VP1d 0.878 6320   vein Vincent dump blind shaft
VP1e 6.520 >10000 4.82 vein Vincent dump blind shaft
VP2 0.506 >10000 6.88 vein Vincent dump blind shaft
VH1 0.821 >10000 10.15 vein Vincent dump blind shaft
VH2 0.049 >10000 1.23 vein Vincent dump blind shaft
VH3 2.370 1000   vein Vincent dump blind shaft
VH4 0.257 2370   vein Vincent dump blind shaft
MP13 0.599 8130   vein Matej dump
MP14 1.385 1360   vein Matej dump
MP15 0.588 3490   vein Matej dump
MP16 1.295 719   vein Matej dump
MP17 0.723 >10000 19.80 vein Matej dump
MP18 1.435 4380   vein Matej dump
MP19 0.539 2380   vein Matej dump
MP20 0.250 >10000 7.53 vein Matej dump
MP21 0.409 >10000 2.62 vein Matej dump
JD1 0.037 149   structure Jandolina  
JD2 0.019 311   structure Jandolina  
JD2a 0.023 126   structure Jandolina  
JD3 0.011 25   structure Jandolina  
JD4 0.036 280   structure Jandolina  
JD5 0.006 39   structure Jandolina  
JD6 0.005 14   structure Jandolina  
JD7 <0.005 15   structure Jandolina  
JD8 <0.005 20   structure Jandolina  
MP1 <0.005 6   no name vein (ENE -WSW)  
MP3 <0.005 7   no name vein (ENE -WSW)  
MP5 <0.005 8   no name vein (ENE -WSW)  
MP6 0.005 8   no name vein (ENE -WSW)  
MJZ1 <0.005 9   structure of vein Matej, SW  
MJZ2 <0.005 6   structure of vein Matej, SW  
MJZ4 0.007 7   structure of vein Matej, SW  
MJZ6a <0.005 37   structure of vein Matej, SW  
MJZ6b <0.005 8   structure of vein Matej, SW  
MJZ7 <0.005 5   structure of vein Matej, SW  

 

 

 

PDF with caption: "Sample locations". PDF available at: http://stream1.newswire.ca/media/2011/11/27/20111127_C9592_DOC_EN_7313.pdf

For further information:

about Global, visit www.globalminerals.com, or contact: Ms. Lubica Parilakova, Investor Relations at 604.669.2355,  lparilak@globalminerals.com.

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