Vancouver, BC / TheNewswire / August 8, 2019 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or "GEMC") is pleased to provide an update on its ongoing activities and progress achieved toward the objective of identifying targets for an inaugural drill program at the Lovelock Mine in Nevada. Work programs outlined previously by the Company have progressed on schedule and management is more confident than ever that the Lovelock Mine is a superb value creation opportunity for shareholders.
Metallurgical Analysis and Re-2Ox
Lab scale metallurgical tests continue to provide further information on the excellent historical grades observed. The bulk sample taken by representatives of partner Canada Cobalt Works from the waste rock in the historic dumps in front of the mine openings were sent to SGS Canada Inc. in Lakefield, Ontario and have undergone initial analysis resulting in head assay results of 0.2% cobalt, 0.19% nickel and 2.84% copper. A sample has been submitted for mineralogy testing and results will be used to better understand which minerals are hosting the metals and help guide the flotation program.
Results will be used to assist with the Re-2Ox process that allows for cobalt-nickel-copper-bearing mineralized material to be put through the Re-2OX Process in order to confirm efficient battery metal extraction and create a potential battery grade test product.
Canada Cobalt Works is working closely with SGS Canada Inc. and has been tasked with leading the supervision of the hydro metallurgical program. Additional results to follow.
Underground Mapping and Sampling
The focus of the detailed underground prospecting, mapping and sampling program was to further evaluate the subsurface geology and identify areas for future drilling, and serve as an important resource for the creation of a 3D geological model of the nickel-copper-cobalt rich property.
Particular attention was paid to the main fault of the North Adit however additional underground workings have been discovered, adding to the extensive underground development. Interestingly, the South Adit appears to be on the same structural zone as the main fault at the Lovelock Mine and the workings follow two subparallel fault systems with some anomalous nickel, cobalt and is copper mineralization. The company believes that the geochemical results are promising, and the structural observations from underground will be valuable when integrated with future survey results.
Figure 1. Sketches of the North Adit and Underground Workings
Figure 2. Sketches of the South Adit and Underground Workings
Based on the observations, recommendations include mapping and sampling the surrounding surface rocks on the district-scale property and combining the collective findings with geophysical data to determine drill targets with priority given to testing main fault and the down dropped block to the west.
This initial work program is focused on defining structural controls in the known battery metal-rich areas and connecting mineralized zones into broader targets in preparation for an inaugural drilling program.
Given the very large exploration area, producing a property-wide geological interpretation and model of the structures and mineralization is an immediate priority and integral to a Q4 2019 drill program that will allow for reinterpretation of historic data and a better understanding of the ability to unlock the cobalt, nickel and copper potential from GEMC’s Nevada-based projects.
Mr. Paul Sarjeant, P. Geo., is the qualified person for this release as required by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and verified the technical information contained herein.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. Global Energy Metals now holds 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia. It also currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada, has an option to acquire an 85% interest in two cobalt exploration projects in Nevada, 150km East of the Tesla Gigafactory.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
t. + 1 (604) 688-4219 extensions 236/237
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. 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.
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