Vancouver, BC / TheNewswire / August 30, 2023 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or “GEMC”), a multi-jurisdictional, multi-commodity critical mineral exploration and development company focused on growth-oriented battery metal projects supporting the global transition to clean energy, is pleased to report that High-Tech Metals Limited (“High-Tech”), an equity investee of GEMC, has is pleased to announce significant results have been achieved through the Ni-Cu-Co geochemical assessment of 209 rock samples collected during the 2023 field season at Werner Lake Project (Werner Lake, or the Project) located in northwestern Ontario.
The results are extremely encouraging for Werner Lake and confirm the Cu-Co potential of the Project, as well as the discovery of high-grade nickel sulphide at surface. With 209 samples taken as part of the program, 12 samples exceeded grades of more than 1% cobalt or 1% copper and 3 samples returned results greater than 1% Ni. These over-limit samples are being re-assayed with results pending.
- High-grade nickel sulphide (greater than 1% Ni) rock chips at Werner Lake, which has predominately been explored for cobalt and copper. Rock chips also returned high grade samples including 6.22% Cu and >1% Co.
- Three surface samples exceeded grades of 1% Ni (exceeded upper detection limit) over-limit assays of these samples are pending.
- Additionally, more than 12 samples exceeded grades of 1% cobalt or 1% copper (exceeded upper detection limit) including individual sample results of:
- Sample F0015125 - 6.22% Cu and 0.5% Co;
- Sample F0015010 - 3.48% Cu and >1% Ni;
- Sample F0014501 - >1% Co and 0.2% Cu; and,
- Sample F0015073 - >1% Ni and 0.8% Cu.
- The discovery of the nickel sulphide potential will now be prioritized and targeted for the upcoming HTM drilling program scheduled to begin towards the end of September.
- The HTM field team collected 209 rock samples over the course of June and July, and coupled with results from the spring ground magnetic survey, has greatly assisted in delineating the Ni-Cu-Co drill targets.
- These results support the systematic exploration approach that High-Tech is taking in unlocking value at Werner Lake and has encouraged the Company to explore further Nickel sulphide potential in the area.
- The old Gordon Lake Mine is located 3.5 km to the East of Werner Lake, which produced 1,370,285 tons averaging 0.92% Ni and 0.47% Cu1 and has existing reserves of 170,420 tonnes averaging 0.85% Ni and 0.35% Cu1. To the west of Werner Lake is the Norpax Deposit that has a historic resource of 1,010,000 tonnes 1.2% Ni and 0.5% Cu2.
- HTM is looking forward to building upon its current Mineral Resources Estimate (MRE) at Werner Lake which currently totals 720,000 lbs @ 0.51% Co & 0.24% Cu.3
- HTM is actively evaluating numerous new project possibilities near Werner Lake. It is consistently conducting thorough internal assessments of projects that align with the Company's goal of specializing in battery metals. Of special interest are ventures that enhance the Company's involvement in the recently discovered nickel potential of Werner Lake.
1. Parker 1988 in Ontario Geological Survey Open File Report 5975 “Geology of Nickel-Copper-Chromite Deposits and Cobalt-Copper Deposits at Werner–Rex–Bug Lakes, English River Subprovince, Northwestern Ontario”
2. Canadian Mines Handbook 1963, pg 215
3. High-Tech Metals Limited Replacement Prospectus dated 8 November 2023.
This follows the successful orientation ground geophysical program, (Refer to High-Tech’s ASX Releases dated 20th April 2023 and 26th May 2023) which was pivotal in identifying potential mineral deposits and improving the understanding of the geological structure of the area.
High-Tech is in the final steps of planning its maiden drill program at Werner Lake targeting high priority drill targets, with drilling planned for this Fall/Autumn. Drill targeting is focussing on proximity of significant base metal results with high magnetic anomalies.
In January 2023 GEMC completed the divestment of its 70% interest in the Werner Lake Project to High-Tech. The Company currently holds 2.5 million High-Tech shares representing a 7.61% interest in the ASX company. See news release linked here: https://globalenergymetals.com/news/global-energy-metals-announces-high-tech-metals-raises-aud-4.718m-lists-on-the-asx-and-completes-on-acquisition-of-the-werner/.
For further details regarding the Werner Lake Cobalt Project and the geochemical assessment of 209 rock samples, including the project updates, highlights, images and maps, please see High-Tech Metals website https://hightechmetals.com.au/.
High-Tech Metals Limited
High-Tech Metals Limited (ASX:HTM) is an ASX-listed company focused on the exploration and development of its flagship, 100 per cent owned Werner Lake Cobalt Project (the Project) located in north-western Ontario, within the Kenora Mining District, approximately 85 km north-northwest of Kenora, Ontario and approximately 170 km east-northeast of Winnipeg, Manitoba. The Project was acquired from Global Energy Metals Corporation (70%) and Marquee Resources Limited (30%).
Mr. Paul Sarjeant, P. Geo., a Director and shareholder is the qualified person for this release as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
t. + 1 (604) 688-4219
Global Energy Metals Corporation
(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 believes Now is the Time to be part of this electrification movement.
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.
We seek safe harbour.