TSX Venture Exchange Symbol: CTG
Frankfurt Exchange Symbol: DFB
VANCOUVER, Nov. 19 /CNW/ - Global Minerals Ltd. (CTG: TSX-V) (Frankfurt:
DFP) the Company reports on the Front Range Project:
Gold & Silver Sales
Three concentrate shipments have been delivered to the smelter in Mexico.
Year-to-date revenue from concentrate sales has totaled $285,000. One partial
payment is expected by December bringing the revenue total to over $305,000.
An additional forty tons of concentrate should be ready for shipment by
mid-December. It is expected that this delivery will net an additional
$125,000 to $150,000 in revenue before year-end.
Mine Production and Development
An additional mining crew and milling crew have been hired. The second
milling crew will allow the mill to operate around the clock raising mill
capacity to 50 tons per day. The second mining crew should raise mine
production from 20 tons per day to 40 tons per day by the first quarter of
2008. The new mining crew is still in training, however, production has
already increased forty percent since the end of September.
Geology & Sampling
On the cash vein, assay results varied from .025 to 2.31 opt (ounce per
ton) gold with silver ranging from .07 to 17.41 opt. Assays on the Freiburg
vein ran 1.72 opt gold, 20.59 opt silver and 3.84 opt gold, 20.77 opt silver.
Sampling on the Deerkson vein varied from .187 to 6.86 opt gold with .09 to
12.54 opt silver.
Underground sampling was conducted on the Cash, Freiburg, and Deerkson
veins. The Cash and Freiburg veins are in production and the Deerkson vein is
being prepared for mining. The Cash, Deerkson, Freiburg veins were sampled
underground in the immediate perimeter areas to stopes and headings under
development. These samples were from approximately 1 inch wide and deep
channels cut in-situ at the 51 locations using a diamond saw to provide a more
consistent cut as opposed to using a chisel and hammer. These samples were cut
across the mineralized vein exposures and generally included all adjacent
altered Boulder Creek Granite host rock. At the development face samples were
cut at the sill, breast and back heights. The samples were fire assayed in the
company's on site laboratory and check assayed by Loring Labs in Calgary. They
give an indication of gold and silver mineralization. They are not
statistically distributed for ore reserve calculation purposes.
Engagement of KCrew as Investor Relations Consultant
The Company is pleased to announce that it has engaged KCrew
Communications Inc. for investor relations services to the Company. KCrew will
be responsible for assisting management in strengthening the Company's profile
and visibility in the financial and investment communities, including
portfolio managers, analysts, retail and institutional investors and media
contacts. Terms of the agreement include an initial three month term, service
fees of $8,500 per month and the issuance of 500,000 stock options,
exercisable over an eighteen month period at $0.25 per share. The terms and
conditions of this agreement are subject to regulatory approval. KCrew does
not have any direct or indirect interest in the Company.
KCrew Communications is a financial marketing and corporate
communications firm. Their mission is to help small to mid-cap public
company's improve their visibility in the investment community and expand the
size of their investor followings. The investor relations contract is for a
fixed term of three months and will thereafter continue on a month-to-month
basis until terminated by either party.
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 W. Heard
President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy of this release.
For further information:
For further information: about Global, visit www.cgmltd.com, or contact
investor relations, Derek Sutherland, at (778) 786-1531 or email