Globex Mining Enterprises Inc. has announced that Lincoln Gold Mining Inc. reported the Bell Mountain gold-silver project in Churchill County, Nevada, is fully permitted and at the construction financing stage. Globex holds a 3% Gross Metal Royalty (3% GMR) on the project.
Project Status and Permits
Lincoln Gold Mining has consolidated the mineral claims, water pollution control permit, BLM plan of operations, core mineral tenure, and principal operational permits. The company completed the Bell Mountain acquisition on January 6, 2025, and updated the Preliminary Economic Assessment (PEA). A six-month financial plan for the first stage of development has been prepared, and Lincoln is now arranging construction financing.
Construction costs are estimated between US$25 million and US$30 million, plus bond requirements, with construction expected to take 8 to 10 months.
Resource Estimate
A NI 43-101 Technical Report titled “Technical Report on the Bell Mountain Project Updated Preliminary Economic Assessment (PEA)” was prepared by Welsh Hagen Associates of Reno, Nevada, effective July 23, 2024, with a reporting date of January 6, 2025. Randall K. Martin, SME-RM, a Mineral Modeler/Mine Planner working as a consultant for WHA, is responsible for the mineral resource estimate. Mr. Martin is a Qualified Person (QP) as defined by NI 43-101 and is independent of Lincoln Gold.
Potentially open pit minable Measured and Indicated Resource in the four zones (Spurr, Varga, Sphinx and East Ridge) totals 45,832 gold equivalent ounces and 27,147 Inferred gold equivalent resources. Significant exploration potential remains to add gold and silver ounces. The resource calculations used a gold price of US$1,950/oz. and silver of US$24.00/oz., while current gold prices are approximately twice that and silver almost three times.
Planned Work and Timeline
Projected work for 2026-2027 includes finalizing the pace of operations, obtaining construction financing, beginning earthworks and construction of the plant, with first production and cash flow expected in 2027.
Jack Stoch, P.Geo., Executive Chairman and CEO of Globex, in his capacity as a Qualified Person under NI 43-101, prepared the information forming the basis of this disclosure.
Globex Mining Enterprises Inc. is listed on the Toronto Stock Exchange (GMX), Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges (G1MN), and OTCQX International in the US (GLBXF).
