Press Release Summary = China and India Represent Key Drivers in the Growing Global Demand and Prices for Molybdenum as Steel and Energy Production Needs Increase
Press Release Body = MiningSectorStocks.com - New Featured Mining Company Globetech Ventures Corp Targets Molybdenum and Gold Potential on Gladys Lake Property
China and India Represent Key Drivers in the Growing Global Demand and Prices for Molybdenum as Steel and Energy Production Needs Increase
POINT ROBERTS, WASH, DELTA B.C. - June 27, 2006 - www.MiningSectorStocks.com (MSS) and www.Gold-MiningStocks.com (GMS), investor and industry portals for the gold and mining sector, announce new featured mining company Globetech Ventures Corp. (OTCBB: GTVCF) as they focus on exploring the molybdenum and gold targets on the Gladys Lake Property in British Columbia.
Molybdenum (Mo) has realized significant growth over the past few years with a price that has appreciated beyond that of its base metal counterparts such as copper, uranium, aluminum, nickel etc. Mo has a variety of uses; a list that continues to expand as its heat and corrosion resistant properties makes it ideal as an ingredient for metallurgical applications. Currently, metallurgical applications comprise approximately 75% of the global molybdenum consumption according to the International Molybdenum Association.
Mo is also realizing an increasing number of uses as a catalyst in the energy sector enabling supply increases and improved environmental protection. As a catalyst Molybdenum plays its largest role within the petroleum industry as it helps to reduce the costs associated with unconventional oil sources such as tar sands.
The surge in price performance of Mo in large part is being driven by the significant economic growth in China and India, regions that have pushed up demand for steel products, and escalated their energy consumption through a booming construction industry.
Globetech Ventures Corp is working to take advantage of the expanding Molybdenum market through the exploration and development of mineral properties such as the Gladys Lake Property in British Columbia, which according to the Company has an excellent anomalous soil footprint and weakly mineralized surface showings of molybdenite. The property consists of 50 new grid claims or cells with each cell approximately 300 metres by 500 metres in size.
The Gladys Lake property hosts a molybdenum deposit similar in tenor and size to the Adanac Deposit to the south. Adanac Moly Corp completed a feasibility study on their Ruby Creek property, located approximately 28 kilometers from the Gladys Lake Property, indicating potential production of 68 million pounds of molybdenum over a six year period.
According to Casey Forward, Globetech's President, "The Company intends to construct a grid over the previously established molybdenum anomaly and relocate and re-evaluate it by taking approximately 600 soil samples. In addition a magnetometer and low frequency electromagnetic geophysical survey will be done to establish local structure and confirm Amax\'s ring-dyke complex. After completion the Company intends to commence diamond drilling."
In addition to Globetech's focus on the Molybdenum targets, the Company will also evaluate the property\'s potential gold mineralization.
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Globetech Ventures Corp. (OTCBB: GTVCF) For Additional Information Please Visit: http://www.miningsectorstocks.com/CO/GTVCF/Default.asp InvestorIdeas.com Disclaimer: www.InvestorIdeas.com/About/Disclaimer.asp. Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. These sites are currently compensated for by its \"featured companies,\" Globetech Ventures Corp. (OTCBB: GTVCF), four thousand dollars per month, plus a one-time five thousand dollars equivalent in shares. For more information contact: Ann-Marie Fleming 866.725.2554 Email: afleming@investorideas.com Web Site: www.InvestorIdeas.comT
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