GLOBAL MINERALS LTD. PLANS COMPREHENSIVE EXPLORATION AT STRIEBORNA SILVER PROJECT, SLOVAKIA

VANCOUVER, Jan. 26 /CNW/ - Global Minerals Ltd. ("Global", the "Company" TSX-V: CTG); is pleased to announce comprehensive exploration plans for its Strieborna silver deposit located in eastern Slovakia. 

Exploration plans include:

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  • Explore the upper projection of the Strieborna vein, an area which is not included in the current resource estimate with shallow drill holes. Approximately 10 fanned, angled drill holes totaling 3800 meters are planned;

  • Drilling from surface will also explore some of the three known veins which are parallel to Strieborna. One hole drilled (by previous operators) from Level 6 underground assayed 667 grams/tonne Ag, 5.1% Cu, and 3.4% Sb over 2.2 meters, on what appears to be a parallel vein. No mineral from these veins are included in the current resource ;

  • Dewater the existing underground workings. Applications for a water discharge permit have been submitted and are being processed;

  • Once the upper levels of the mine are dewatered the existing underground drill stations will be reestablished and drilling will begin. The purpose of this drilling will be to delimit the size of the Strieborna system and re-define the resource estimate. The goal being to move the inferred resources into the measured and indicated categories, expand the known boundaries of the Strieborna vein and further explore known parallel veins;

  • Concurrent with the exploration drilling, a regional program is being conducted to assess the over 90 known vein systems in the district.  Compilation of regional data  is well underway.
  • Global anticipates that surface drilling and dewatering will begin during the current Quarter. Underground drilling should begin during the third quarter.

    About Strieborna

    Strieborna is located in eastern Slovakia, a fully-fledged member state of the European Union. It is in a historic mining district near the town of Roznava, known for iron production. A NI 43-101 compliant resource calculation by AMC Ltd. (April 2008) calculated 1.925 million tonnes (Measured and Indicated) grading 231.7 grams per tonne silver, 1.1 percent copper, and 0.7% antimony; 1.50 million tonnes (Inferred) grading 180.0 grams per tonne silver, 0.9 % copper and 0.7% antimony. (AMC Pty, April 2008) The full details of such resources were announced on April 23, 2008 and a complete NI 43-101 Technical Report can be found on SEDAR at www.sedar.com.

    The Strieborna deposit is the only silver-copper-antimony mine in Europe which could be brought into production in the near future. The mineralized zone has been outlined underground by a series of horizontal drifts, and measures 600 meters vertically by 1.2 kilometers along strike. The mineralization is open in all directions.

    Strieborna was first discovered in 1981, and roughly parallels the important iron-bearing vein deposit at the Maria Mine, located approximately 500 meters to the west. Strieborna is currently accessed underground by cross cuts from the nearby Maria workings. It was systematically explored on four underground levels totaling 3,000 meters in length (Levels 8, 9, 10, and 13). 

    Infrastructure at Strieborna is excellent, with electrical power, rail, highways, and a nearby workforce, many of whom have had underground experience in nearby underground iron mines, now shut down. 

    In compliance with National Instrument 43-101, George W. Heard, P. Geo., is the Qualified Person responsible for the accuracy of this release.

    On behalf of the Board of Directors of Global Minerals Ltd.

    "George Heard"
    George Heard
    President, CEO and Director

    Forward-Looking Statements: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. Forward-looking statements include that the Company expects to be in production within 12 months. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.

    Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

    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 has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.

    For further information:

    George W. Heard, President, Tel: (604) 632-0085, Fax: (604) 605.0009, Email: gwheard@shaw.ca

    Profil de l'entreprise

    Global Minerals Ltd.

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