Global Energy Metals Commences First-Ever Drill Program at the Lovelock Cobalt-Nickel-Copper Project in Nevada; Provides Raw Material to American Battery Technology Company for Processing
October 18, 2021 (Source) — Global Energy Metals Corporation (TSXV:GEMC) (OTC:GBLEF) (FSE:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”), a company involved in the investment exposure to the battery metals supply chain, is pleased to announce that drilling has commenced at the Lovelock Cobalt-Nickel-Copper project (“Lovelock”) located in the prolific IOCG belt of the Stillwater Range in Nevada, USA. Global Energy Metals has undertaken a thorough technical review of the Lovelock data and has prioritized a series of drill targets which will be tested with an initial planned program of four holes totalling approximately 1,000 metres.
As a result of its recently announced collaborative agreement with American Battery Technology Company (“ABTC”), GEMC has now provided raw material from its Nevada based projects to undergo an in-house procedure of developing new first-of-kind processes for producing battery cathode grade nickel and cobalt metal sulfates. This fundamental development work will consist of rigorous thermodynamic analytic modeling, bench scale empirical trials, and techno-economic analyses to quantify the competitiveness of the developed process flowsheets against current market conditions.
- Initial 1,000 metres of targeted reverse-circulation drilling focused on making new copper-nickel-cobalt discoveries along newly defined conductors at Lovelock;
- Recent geophysics studies have identified high-priority drill targets that complement the exploration fieldwork previously conducted;
- There is strong discovery potential in and around the Lovelock properties as well as at regional targets identified;
- GEMC has supplied raw material from its Lovelock and Treasure Box projects in Nevada to undergo ABTC’s in-house procedure of developing new first-of-kind processes for producing battery cathode grade nickel and cobalt metal sulfates; and
- GEMC continues to evaluate strategic cooperative opportunities that could enable securing a stable supply of battery minerals critical for the electrification of vehicles and energy storage to the North American market.
Mitchell Smith, Global Energy Metals’ President & CEO commented:
“This is an exciting moment for Global Energy Metals and it’s shareholders. We are pleased to announce that O’Keefe Drilling has commenced the Company’s first drilling campaign at the Lovelock Mine project in Nevada. Following encouraging field and geophysical work, the team believes that Lovelock displays potential for near-surface cobalt, nickel and copper mineralisation and could become a significant discovery opportunity in the highly prospective Stillwater IOCG region. As a high priority target for the company, we look forward to updating shareholders on our progress of both the drill program and ABTC’s processing of cobalt and nickel material for battery application from our projects.”
The majority of the first pass drilling program this season will be focused on confirming intersections of cobalt-nickel-copper bearing vein that correlates with historical underground mining and mapped superficial cobalt-nickel-copper occurrences. The 1000 metre initial drill program is directed at two target areas within the property: the “Lovelock Mine Zone”, which is host to historical underground mining of high-grade cobalt, nickel and copper, and the “New Zone”, a large area within a corridor of strong structural control with several subparallel structures indicating the potential for multiple mineralized zones related to these structures that has historically returned high-grade cobalt, nickel and copper assays in surface and underground sampling.
Drill targets were generated through a high-power induced polarisation (“IP”) ground geophysical survey, which were subsequently prioritized by a follow-up surface geochemical program and airborne magnetic survey. The data interpretation has allowed for a better understanding of the area, extending from previously mined orebodies to key undeveloped prospects and exploration targets, and greatly enhances the Company’s ability to successfully target and explore for new, buried, high-grade cobalt-nickel-copper deposits across the large footprint in a highly prospective mining district.
Mr. Paul Sarjeant, P. Geo., is the qualified person for this release as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.
Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a ‘consolidate, partner and invest’ approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.
As demonstrated with the Company’s current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, GEMC is investing-in, exploring and developing prospective, scaleable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.
Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity. Global Energy Metals believe the the time to be part of this electrification movement.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
t. + 1 (604) 688-4219
Cautionary Statement on Forward-Looking Information:
Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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