Significant Rare Earth Mineralization Confirmed at Virgin Mountain Property
TORONTO, March 19, 2026 – Globex Mining Enterprises Inc. has announced a significant update regarding recent exploration work conducted by Lodestar Minerals Limited on the Virgin Mountain Rare Earth Property located in Arizona. The property is currently under option from Globex, with Lodestar reporting promising assay results from chip samples collected along the primary structural trend.
Assay Results Reveal High-Grade Rare Earth Concentrations
On February 23, 2026, Lodestar disclosed assay results from five chip samples, demonstrating substantial total rare earth oxide (TREO) concentrations. The samples exhibited TREO values ranging from 1.00% to 3.73%, with particularly notable heavy rare earth oxide (HREO) content. Sample CA050 recorded the highest TREO at 3.73%, containing 48% HREO, while other samples showed HREO percentages between 50% and 64%.
The neodymium to praseodymium ratios in these samples varied from 12% to 17%, indicating a favorable composition for critical applications. These elements are essential components in various high-tech industries, including electric vehicle motors, wind turbines, and advanced defense systems.
Xenotime Identification Confirms Heavy Rare Earth Potential
Advanced analysis using a Scanning Electron Microscope (SEM) at the Centre for Advanced Microscopy at the Australian National University has confirmed xenotime as the dominant rare earth-bearing mineral at the site. This identification is particularly significant because xenotime contains high proportions of valuable heavy rare earth elements such as dysprosium, terbium, and lutetium.
According to Lodestar, these elements have been repeatedly identified by U.S. agencies as critically undersupplied with severe exposure to foreign supply chain vulnerabilities. The confirmation of xenotime presence validates the heavy rare earth potential of the Virgin Mountain Rare Earth Project and underscores its strategic importance for domestic supply security.
Geological Context and Future Implications
The mineralized samples originate from a shear zone within a mapped, 5-kilometer-long structure hosted by Paleoproterozoic gneiss. This geological setting suggests substantial mineralization potential along the extensive structural trend.
Globex initially optioned the Virgin Mountain property to Lodestar on September 29, 2025, with the current results representing significant progress in the exploration program. The findings position the project as a potentially important source of critical minerals needed for the transition to green energy and advanced technological applications.
The press release outlining these assay results and their significance was prepared by Jack Stoch, P.Geo., Executive Chairman and CEO of Globex, who serves as a Qualified Person under NI 43-101 regulations. Further information about the project and the companies involved can be obtained through Globex Mining Enterprises' official channels.
