VANCOUVER, BC / TNW-ACCESSWIRE / November 3rd, 2016 / GLOBAL ENERGY METALS CORP. ( “ Global Energy Metals ” , the “ Company ” and/or "GEMC") is pleased to announce that the Company has engaged AGP Mining Consultants Inc. (“AGP”) to prepare a mineral resource estimate in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") for its Werner Lake Cobalt project located in Ontario.
AGP Mining Consultants Inc. is a mining consulting firm specializing in mine engineering (underground and open pit), mineral resource estimation, metallurgical development and process engineering, and project management. Pierre Desautels is the Principal Resource Geologist at AGP. Pierre has over 37 years of experience in geology and resource evaluation, both at operating mines and as a consultant for emerging mining opportunities in Canada and around the world. The NI 43-101 compliant resource report will provide a detailed geologic analysis and resource evaluation of the Werner Lake Cobalt project.
Paul Sarjeant, VP Projects commented: “We look forward to delivering an updated resource estimate for the Werner Lake Cobalt project before the end of this year.”
The Company is the recipient of significant data following the spin-out from Global Cobalt Corporation in January 2016 including data that was obtained from a drilling program of 7,565 metres of drilling in 31 holes over the winter and spring of 2009-2010 that was used to investigate the property. In addition to the findings from the 2009-2010 program, significant resource data is available, including analytical results from previous operators.
Paul Sarjeant, P. Geo., a qualified person under National Instrument 43-101 is in charge of the exploration program on behalf of the Company and has reviewed the scientific and technical information in this news release.
About Werner Lake Cobalt Project:
The Werner Lake property is located in northwestern Ontario, near the Ontario-Manitoba border in the Kenora Mining District. The Werner Lake Geological Belt hosts numerous cobalt-copper and base metal showings, deposits and past producing mines. The two largest cobalt deposits defined to date are the Werner Lake Minesite Deposit and the West Cobalt Deposit, both controlled by GEMC. The area has seen extensive exploration and development work since the original discovery of cobalt in 1921. Limited production of cobalt ore occurred between 1932 and 1944.
The most significant work was undertaken by Canmine Resource Corporation (“Canmine”) between 1995 and 2002. During this time Canmine carried out extensive drilling and exploration work leading to the discovery of additional mineralized lenses beneath the old workings, now referred to as the Minesite Deposit (or “Old Mine Site”). The West Cobalt Deposit is located about 500 metres west of the Minesite Deposit and was also discovered during the exploration program. In addition to drilling, Canmine carried out metallurgical testing, underground rehabilitation and development work. An internal study completed by Canmine indicated a small scale (300 tpd) underground mining operation was possible.
The historical resource estimate was based on 217 diamond drill holes totaling 27,894 metres of coring in addition to underground exploration that advanced 258 metres of ramp, drifts and raises to better explore and define the West Cobalt Deposit. Canmine continued with extensive engineering work until 2002 when the company filed for bankruptcy.
Global Cobalt Corp (“GCO”) (previously Puget Ventures) acquired the key patented claims in 2008 and staked or acquired a significant package of land within the Werner Lake Belt at the same time. Additional diamond drilling by GCO in 2009-2010 has added to the resource database and suggests the deposit remains open for exploration.
Excellent opportunities exist for the definition of additional high-grade cobalt mineralised zones at these two deposits and at other locations throughout the Werner Lake Geological Belt.
Global Energy Metals Corporation:
Global Energy Metals is an aggregator of primary cobalt and other battery metals projects and other supply, providing supply to the market demand for the growing rechargeable battery market. GEMC is a pre-IPO reporting issuer that anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. GEMC currently owns the Werner Lake Cobalt Mine in Ontario, Canada.
For Further Information:
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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. 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.
We seek safe harbour.