Global Energy Metals Provides Updates on Potential for Larger System with Monument Peak Copper-Silver-Gold Project in Idaho, USA
September 9, 2021 (Source) — Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”), a company involved in investment exposure to the battery metals supply chain, is pleased to report that it has completed a first phase program of soil geochemical sampling and geological mapping at the Monument Peak copper-silver-gold project in Idaho, United States.
The phased exploration program conducted by Dahrouge Geological Consulting USA (DGC) included the collection of 557 soil samples and 13 rock samples (see Figure 1).
During the course of exploration activities at Monument Peak, crews identified several new areas of visible copper mineralization (see Figures). The strongly mineralized samples contained variable amounts of chalcopyrite and copper oxide minerals, consistent with the known Cu-Ag/Au mineralization on the property. All soil and rock samples were shipped to Actlabs in Kamloops, BC for multielement analysis (including silver) by aqua regia digestion with ICP-OES finish (code 1E3) for rock samples and ICP-MS finish (code UT1) for soil samples and gold analysis by fire assay with AA finish (package 1A2B-30).
Upon receipt of analytical results, the Company will re-evaluate all historical and recent exploration data, as it appears the mineralized system may be more extensive than previously thought. Results will be released as they become available.
Timothy Strong, Project Development Manager commented:
“We’re excited by the initial findings from the first phase of our summer work program at Monument Peak. Initial prospecting work completed by Dahrouge Geological suggest there is a much larger footprint to the polymetallic mineralization known at the property, than previous exploration data suggested. As such we’re very pleased by the observation and discovery of several additional copper, silver and gold target areas.”
Phase 1 Highlights of the Soil Sampling and Geological Reconnaissance Sampling:
- Soil sampling program resulted in 557 soil samples and 13 rock samples,
- Identified historical pit in the south of the property approximately 200 m due east from the previous known showings which had abundant copper oxide staining and quartz veining,
- Identified another historical mineralized trench located along strike between the central and southern showings with abundant quartz veining and copper oxide,
- Documented and sampled historical dumps, workings, and additional outcrops, resulting in the conclusion that the system could be continuous over its entire strike length, and
- The Company is re-evaluating the system, which it believes could be larger than previously understood.
Figure 1. Monument Peak location map highlighting rock and soil samples collected.
Figure 2. Copper oxide staining on rocks located in a newly discovered historical pit in the south of the property.
Figure 3. Rock sample from outcrop within historical mineralized trench located along strike between the central and southern showings.
Figure 4. Rock sample from historical mineralized trench located along strike between the central and southern showings.
Data collected during the summer/fall 2021 exploration programs at Monument Peak will be utilized to prepare an independent technical report and be used for the generation of drill targeting / permitting.
A second phase of exploration at Monument Peak consisting of a drone magnetics and photogrammetry is scheduled for later in the month. Details of the Phase 2 program are outlined below.
Phase 2 – Drone Magnetics Survey and Photogrammetry – Scheduled
- Conduct drone magnetics survey over the entire Monument Peak Property:
- 130 line km at 50 m spacing, and
- Data processing using Oasis Montaj software.
- Conduct high resolution photogrammetry survey over the entire Monument Peak Property
- 95 line km, and
- DSM generation and orthoimage using DJI terra.
Monument Peak Copper-Silver-Gold Project, Idaho, USA
The Monument Peak Project consists of 69 claims covering approximately 1,380 acres (~558.5 hectares). It is an exploration-staged, high-grade, copper-silver-gold project, which covers two small past producing copper mines: Jackson and Hungry Hill. Sporadic development and production in the area occurred primarily during the early 1900’s, with some additional development in the 1950’s. The most recent exploration occurred during the 1970’s and 1980’s.
Mitchel (1972) described the Cu-Ag-Au mineralization at Monument as having “unusual continuity” in association with structural zones within sericitic quartzites, which can be traced along 3,200 m strike that vary from 3 to 6 m width.
The mineralization is described (Lavery, 1988) as “syngenetic and fits a volcanic-hosted (massive) sulfide model … where … the copper-mineralized section might be as much as 175 feet thick”.
A previous program undertaken by DGC in 2020, included the collection of 56 rock samples to confirm historical results, as announced in a previous news release dated April 27, 2021. The field work confirmed both the presence of significant Cu, Ag mineralization, but also the presence of significant gold mineralization. The samples were collected from three main areas over 3,200 m strike and from the separate Hungry Hill Mine; the arithmetic average of all samples was 2.34% Cu, 57.6 g/t Ag, and 0.68 g/t Au.
Project highlights follow (from North to South):
- North Showing: grab samples to 0.57% Cu, 248 g/t Ag, 57.5 g/t Au;
- Jackson Adit: grab samples to 13.6% Cu, 2,589 g/t Ag, 17.1 g/t Au;
- Chip Sample: 3.0 m of 7.03% Cu, 109 g/t Ag
- Chip Sample: 1.8 m of 3.11% Cu, 101 g/t Ag
- Chip Sample: 6.1 m of 4.32% Cu, 99 g/t Ag
- Anderson Occurrence: grab samples to 3.9% Cu, 89 g/t Ag, 2.5 g/t Au.
- Hungry Hill Mine (2 km east of main trend): 2.4 m of 17% Cu.
Field crews visited four known mineral occurrences (Jackson/Baker, Hungry Hill Mine, Anderson and North Showing) and confirmed the high-grade Cu-Ag (+/- Au) mineralization at all locations. Outcrop is sparse throughout the property and commonly only exposed by historical workings. Observed mineralization style and grade is similar across all showings, with notably higher copper grades (up to 20.9% Cu) at Hungry Hill, while the North Showing had the highest gold values (up to 11.4 g/t Au). High grades of silver (greater than 80 g/t Ag) were associated with all mineral occurrences.
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 | OTC: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.
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