GEMC:CC - Global Energy Metals Announces Investee Company High-Tech Metals Announces Completion of Drilling at Ontario-Based Werner Lake Project
(TheNewswire)
Vancouver, BC - TheNewswire - October25, 2023 - Global EnergyMetals Corporation ( TSXV:GEMC ) ( OTC:GBLEF ) ( FSE:5GE1 ) (“Global Energy Metals”, the “Company” and/or“GEMC”) , a multi-jurisdictional,multi-commodity critical mineral exploration and development companyfocused on growth-oriented battery metal projects supporting theglobal transition to clean energy, is pleased to report that High-TechMetals Limited (“High-Tech” and/or “HTM”), an equity investeeof GEMC, has announced that the drilling program at the Werner Lakeproject in Ontario (“Werner Lake” and/or the “Project”) hasbeen completed for a total of 798m of diamond drilling. All HTMsamples have been sent to the Company’s lab services provider (ALS),with assay results expected to start arriving in approximately 2-4weeks’ time.
Figure 1 – Diamond Drilling at the Werner LakeProject.
This follows the significant results achieved throughthe Ni-Cu-Co lithogeochemical sampling programme totalling 209 samplescollected during the 2023 field season at Werner Lake Project (WernerLake, or the Project) located in northwestern Ontario (refer ASXrelease dated 30 August 2023). The results are extremely encouragingfor Werner Lake and confirm the Cu-Co potential of the Project, aswell as the discovery of high-grade nickel sulphide at surface. Of the209 samples taken as part of the program, twelve samples exceededgrades of more than 1% cobalt or 1% copper and three samples returnedresults greater than 1% Ni.
Figure 2 – Diamond Drilling zones at the Werner LakeProject.
HTM is actively evaluating numerous new projectpossibilities near Werner Lake. It is consistently conducting thoroughinternal assessments of projects that align with the HTM’s goal ofspecializing in battery metals. Of special interest are ventures thatenhance the Company's involvement in the recently discovered nickelpotential of Werner Lake.
Next Steps
Figure 3 –Werner Lake exploration roadmap for2023.
HTM is committed to responsible exploration practicesand takes measures to minimize the impact of its explorationactivities on the environment and local communities.
Location
Werner Lake is located in a known nickel province withthe old Gordon Lake Mine 3.5 km to the East. From 1962 to 1972, theold Gordon Lake mine produced 1,370,285 tons averaging 0.92% Ni and0.47% Cu1 and has existing reserves of 170,420 tonnes averaging 0.85%Ni and 0.35% Cu. To the west of Werner Lake is the Norpax Deposit thathas a historic resource of 1,010,000 tonnes 1.2% Ni and 0.5%Cu.
Figure 4 – Location of Mineral Deposits in the WernerLake Belt.
High-Tech Metals Limited
High-Tech Metals Limited (ASX:HTM) is an ASX-listedcompany focused on the exploration and development of its flagship,100 per cent owned Werner Lake Cobalt Project (the Project) located innorth-western Ontario, within the Kenora Mining District,approximately 85 km north-northwest of Kenora, Ontario andapproximately 170 km east-northeast of Winnipeg, Manitoba. The Projectwas acquired from Global Energy Metals Corporation (70%) and MarqueeResources Limited (30%).
Qualified Person
Mr. Paul Sarjeant, P. Geo., a Director and shareholderis the qualified person for this release as defined by NationalInstrument 43-101 - Standards of Disclosure for MineralProjects.
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
www.globalenergymetals.com
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Global Energy Metals Corporation
(TSXV:GEMC |OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offersinvestment exposure to the growing rechargeable battery and electricvehicle market by building a diversified global portfolio ofexploration and growth-stage battery mineral assets.
Global Energy Metalsrecognizes that the proliferation and growth of the electrifiedeconomy in the coming decades is underpinned by the availability ofbattery metals, including cobalt, nickel, copper, lithium and otherraw materials. To be part of the solution and respond to thiselectrification movement, Global Energy Metals has taken a‘consolidate, partner and invest’ approach and in doing so haveassembled and are advancing a portfolio of strategically significantinvestments in battery metal resources.
As demonstrated withthe 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 establishedmining and processing jurisdictions in close proximity to end-usemarkets. Global Energy Metals is targeting projects with low logisticsand processing risks, so that they can be fast tracked to enter thesupply chain in this cycle. The Company is also collaborating withindustry peers to strengthen its exposure to these criticalcommodities and the associated technologies required for a cleanerfuture.
Securing exposure tothese critical minerals powering the eMobility revolution is agenerational investment opportunity. Global Energy Metals believes Nowis the Time to be part of this electrification movement.
Cautionary Statementon Forward-Looking Information:
Certain informationin this release may constitute forward-looking statements underapplicable securities laws and necessarily involve risks associatedwith regulatory approvals and timelines. Although Global Energy Metalsbelieves the expectations expressed in such forward-looking statementsare based on reasonable assumptions, such statements are notguarantees of future performance and actual results or developmentsmay differ materially from those in the forward-looking statements.Except as required by law, the Company undertakes no obligation to updatethese forward-looking statements in the event that management’sbeliefs, estimates or opinions, or other factors, should change.
GEMC’s operationscould be significantly adversely affected by the effects of awidespread global outbreak of a contagious disease, including therecent outbreak of illness caused by COVID-19. It is not possible toaccurately predict the impact COVID-19 will have on operations and theability of others to meet their obligations, including uncertaintiesrelating to the ultimate geographic spread of the virus, the severityof the disease, the duration of the outbreak, and the length of traveland quarantine restrictions imposed by governments of affectedcountries. In addition, a significant outbreak of contagious diseasesin the human population could result in a widespread health crisisthat could adversely affect the economies and financial markets ofmany countries, resulting in an economic downturn that could furtheraffect operations and the ability to finance itsoperations.
For more informationon Global Energy and the risks and challenges of their businesses,investors should review the filings that are available atwww.sedar.com.
Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
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