Global Minerals Announces $5,000,000 Private Placement
21 Junho 2011 - 8:30AM
Marketwired
Global Minerals Ltd. (TSX VENTURE: CTG)(FRANKFURT: DFP) is pleased
to announce a non-brokered private placement financing to raise
$5,000,000 through the issuance of 7,142,857 shares at a price of
$0.70 per share. The shares once issued will be subject to a four
month hold period. No commissions or finder's fees are payable in
connection with the private placement.
The proceeds from the private placement will be used for
exploration and development on its Strieborna property and working
capital. The private placement is subject to regulatory
approval.
About Strieborna
The Strieborna vein is a high-grade silver-copper-antimony
deposit with a defined resource. The project is part of an historic
mining district near the town of Roznava in eastern Slovakia. The
current 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 previous 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 these will also be tested for metal potential in
subsequent drill programs.
Besides the upside 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 work force experienced with
underground operations. Underground access is available via old
mine workings.
Global Minerals Ltd. is a Canadian exploration and development
company focused on developing its high-grade silver, copper,
antimony deposit in Slovakia. Global is 35% owned by Esperanza
Resources Corp. (TSX VENTURE: EPZ) whose principles were previously
familiar with the Strieborna Project and are now involved in
supervising the technical programs and future development.
ON BEHALF OF THE BOARD
George W. Heard, President and CEO
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Global Minerals Ltd. Ms Lubica Parilakova 604 632 0085
lparilak@globalminerals.com www.globalminerals.com
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