Vancouver, BC / TheNewswire / April 16, 2025 / 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, development and project generating company focused on growth-oriented projects supporting the global transition to clean energy, is pleased to announce that joint venture partner, Metal Bank Limited (“MBK”) has been awarded a grant of AUD $275,000 to support further exploration at the Millennium copper cobalt gold graphite project (“Millennium”) near Cloncurry in northwest Queensland.
Highlights
- Millennium Co-Cu-Au-graphite project granted AUD $275,000 as part of the Queensland Government’s critical minerals Collaborative Exploration Initiative program
- Maximum grant amount obtained to advance ancillary graphite potential alongside current Co-Cu-Au Mineral Resource
- Grant-supported work includes diamond drilling, re-assaying of previous drill samples and preliminary metallurgical work
- Grant funds provide direct cost support for the activities and do not require co-contribution
- MBK plans to undertake additional work on both graphite potential and expansion of the existing Co-Cu-Au resource while the rig is on site
This grant forms part of the Queensland Government’s current Collaborative Exploration Initiative (‘CEI’) program in support of the critical minerals industry, and follows the identification of thick high grade graphite drill intersections in late 2024 within and adjacent the existing JORC2012 Inferred Resource at Millennium of 8.4Mt @ 0.29% Cu 0.09% Co and 0.12g/t Au (1.23% CuEq).
Under the terms of the grant, MBK will complete additional diamond drilling, a program of re-sampling and re-assay of existing drill core and RC samples plus initial petrological and metallurgical studies on the graphite mineralisation. These funded programs will aid in understanding of the scope, distribution and economic implications of the graphite potential at Millennium that has now been defined over 2km of strike and has returned considerable grades in drilling (to 56m @ 18.29% TGC2) (Figure 1).
The CEI grant program will considerably de-risk work associated with a potentially significant ancillary value add-on for Millennium as the company continues to advance the project towards future production. Importantly, grant funds provide direct cost support for the activities and do not require co-contribution.
MBK plans to undertake additional work on both graphite potential and expansion of the existing Co-Cu-Au resource while the rig is on site. Grant work is scheduled to commence in Q2 2025 with completion before late Q4 2025, and the Company looks forward to updating the market with drilling and metallurgical results in due course.
Figure 1: Millennium project overview showing downhole graphite results to date and target area of grant program
NW Queensland District Graphite Development
Millennium is strategically located between other NW QLD graphite development projects which are currently undergoing consolidation (Figure 2). The Corella deposit is located 14km to the south(13.5Mt @ 9.5% TGC) and the Burke deposit 107km due north (9.1Mt @ 14.4% TGC)3 of Millenium, both held by Lithium Energy (ASX: ‘LEL’), and the Mt Dromedary deposit (7.0Mt @ 14.5% TGC) held by Novonix (ASX: ‘NVX’ and NASDAQ: ‘NVX”) is immediately adjacent to the Burke Deposit.
Figure 2: NW QLD graphite projects map (modified after Lithium Energy (ASX: LEL) website.
Millennium displays matching geology to the Corella deposit, with metamorphosed graphitic shales, slates and schists of the Milo Beds within the Tommy Creek Domain hosting both deposits. Both deposits are also proximal to mafic units and structural corridors which are considered key factors for the development of high quality, high-grade graphite mineralisation.
Metallurgical and electrochemical test work work to date on these nearby deposits has returned high-grade concentrate with high graphite recoveries coincident with electrochemical test work indicative of material highly suitable for downstream graphite processing and integration into modern battery manufacturing and other technologies.
Millennium — Next Steps
Graphite demand continues to grow in line with expansion in the electric vehicle (EV) lithium-ion battery sector, where graphite is the key raw material consumed in EV battery anodes (some 20-30x the lithium content in a ‘lithium’ battery). Despite some recent price pressure, the long-term outlook for natural, ex-China graphite remains strong. As the industry targets diversified supply, the focus shifts to more ESG friendly, secure sources of graphite production and processing.
In line with this, Metal Bank, in full support by Global Energy Metals, is assessing the potential for further value to be unlocked from the Millennium Project via developing the graphite potential over the coming months. This includes additional surface mapping and sampling, metallurgical testing to determine recovery, graphite flake size, sphericity and purity, and a further program of drilling to refine near term scope for an Exploration Target and/or Mineral Resource.
Qualified Person
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. He is a shareholder and Director of the Company.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals
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.
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We seek safe harbour.