Global Energy Metals Secures Drill Contractor and Prepares to Mobilize for First-Ever Drill Program at the Lovelock Cobalt-Nickel-Copper Project in Nevada
September 29, 2021 (Source) — Global Energy Metals Corporation (TSXV:GEMC) | (OTCQB: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 it has secured O’Keefe Drilling Company, an established drill contractor based in Butte, Montana, to complete up to 1,000 metres of reverse circulation drilling at its district-scale, Lovelock Cobalt-Nickel-Copper project (“Lovelock”) located in the prolific IOCG belt of the Stillwater Range in Nevada, USA.
- Up to 1,000 metres of targeted reverse-circulation drilling;
- Drilling will focus 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; and
- Modern exploration techniques and methods are being utilized at the Company’s U.S. properties with a goal of making new discoveries of battery metals critical to the technologies enabling a low-carbon economy.
Timothy Strong, Global Energy Metals’ Project Development Manager commented:
“In addition to having historical mining of high-grade cobalt, nickel and copper, recent electromagnetic and exploration fieldwork suggests that the land package that makes up Lovelock remains highly prospective for making new discoveries and that the extensive system has the potential for high grades. We look forward to commencing this initial drill program at Lovelock and will be systematically testing additional regional targets in the coming months.”
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. It is anticipated the drill program will demonstrate broader mineralization across the width and depth of the occurrence which remains open in all directions.
As previously reported in late 2020, an independent interpretation of the regional structure of the Lovelock property, specifically in the vicinity of the historical mining of high-grade cobalt and nickel that occurred at the Lovelock Mine suggest that the Lovelock Mine is located within a corridor of strong structural control with several subparallel structures indicating the potential for multiple mineralized zones related to these structures. Importantly, the geophysics study has identified high-priority drill targets that complement the exploration fieldwork previously conducted.
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 | 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.
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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