TSX Venture Exchange Symbol: CTG
Frankfurt Exchange Symbol: DFP.F
VANCOUVER, Nov. 22 /CNW/ - Global Minerals Ltd. (CTG:TSXV, DFP:Frankfurt)
is pleased to announce further updates on Alto Sobrido.
Summary of Results
Confirmation and reconnaissance sampling was completed on three prospects
on the property: Tapada, Ribeiro da Serra and the Alto Sobrido. At Tapada chip
sampling at adit six assayed 6.16 gm/tonne gold 2.0 gm/tonne silver and 0.12%
At Ribeiro da Serra samples from the adit assayed 2.33, 5.80, and
1.64 gms/tonne gold, 4.4, 2.4, and 1.0 gms/tonne silver, 5.85%, 3.37% and
1.33% antimony. Sampling at the stope face assayed 32.00 gm/tonne gold,
4.1 gm/tonne silver and 15.99% antimony. Various samples taken on the
Alto Sobrido prospect assayed from .18 to 23.20 gms/tonne gold, .3 to
17.6 gms/tonne silver and .16% to 43.38% antimony. The samples taken and
assayed were taken to give an indication of gold, silver and antimony
mineralization; they are not statistically distributed for ore reserve
In management's opinion these results are positive and drill targets have
been established. Environmental base line studies have been initiated and
drilling will commence when a suitable drill rig is available.
What is Antimony?
Antimony is an industrial metal. It is used primarily in lead acid
batteries, as a flame retardant and as a catalyst. The current price for
antimony ingots is $2.55 US per pound. 1% antimony equates to 22lbs per metric
Quality Control and Assurance
All samples for gold and antimony were completed at OMAC Labs Ltd., in
County Galway, Ireland (an ISO 17025 certified facility) using standard
industry practices and conventional atomic absorption and fire assay methods
for gold. Antimony assays were completed by GAR Aqua Regia Digestion and Flame
AA finish. Over limit ((greater than)2.0%Sb) values were check assayed by OMAC
method HBr/ICP, a high precision analysis using ICP (+/-2%) for base metals.
About Alto Sobrido
The Alto Sobrido gold antimony project is located in Northern Portugal.
It is located roughly 16 kilometers east of the city of Porto and covers an
area of approximately 16.0 square kilometers. Within the property are several
workings that produced antimony from veins. In addition, recent exploration
work was conducted by BRGM (Bureau de Recherches Geologiques et Minieres) and
the Portuguese EDM (Empresa de Desenvolvimento Mineiro) and latterly
Connary Minerals PLC.
Global Minerals Ltd. has signed a letter of intent to earn 50% interest
in the property. The property is currently held by Kernow Resources &
Developments Ltd. This acquisition fits Global Minerals' strategy of acquiring
advanced stage mineral projects. Portugal is a member of the European Union
and as such meets the company's corporate criteria regarding country risk.
With current metal prices at $800.00 US per ounce gold and $2.55 per pound
antimony, management believes that the Alto Sobrido project could provide an
attractive return on investment.
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