GEMC:CC - Global Energy Metals Announces Partner-Funded Exploration Update for the Rana Nickel Project in Norway
(TheNewswire)
Vancouver, BC - TheNewswire - April20, 2023 - Global Energy Metals 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 announce that itsstrategic partner, Kingsrose MiningLimited (“Kingsrose”), has provided an update on exploration activities atthe brownfield RånaNickel-Copper-Cobalt (Ni-Cu-Co) project (the “Project”) in northern Norway. SinceKingsrose announced acquiring operational control of211 km2 of exploration licences at Rana between January andMarch , Kingsrose hasbuilt a team of local geologists and support crew, conducted arigorous contractor selection process for provision of geophysical anddrilling services, and secured the relevant permits and dispensationsrequired to conduct geophysical surveys.
Geophysical surveys have now commencedwith a ground based electromagnetic (EM) survey underway andMagnetotelluric (MT) surveys planned for May 2023 (Figure 1). Combinedwith geological mapping and geochemical sampling, this work will focuson the generation of drill targets, with drilling expected to commencein July.
Highlights
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The Råna project has proven potential for discovery ofmassive sulphide Ni-Cu-Co mineralisation and is underexplored usingmodern deposit models and exploration methods.
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Multidisciplinary geophysical surveys will be completedbetween April and July to allow modelling of the intrusion geology in3D and identify conductive bodies that may representnickel-copper-cobalt massive sulphide mineralisation to target inupcoming drilling.
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??Contracts have been awarded for the completion ofairborne MT (Expert Geophysics), ground MT (Quantec Geoscience),ground EM and borehole EM (Geovisor) geophysical surveys, designed to:
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assist with geological modelling of the entireintrusion to depths of one to three kilometres;
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identify extensions of known mineralisation at Bruvannand Ränbogen; and
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explore for conductive bodies elsewhere within theintrusion and in offset bodies at or near to the base of the intrusion(up to 1000 metres deep) to generate new exploration targets.
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??Detailed geological mapping and geochemicalsampling will commence in late April as soon as snow melts to allowobservation of outcrop. This work will complement the geophysicalsurveys and aid data interpretation for drill targetingpurposes.
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A 5000 metre core drilling contract has been awarded toNorse Drilling, Norway, to commence in July, pending final approval ofthe drill permit application which is expected in early May. Drillingwill test targets generated from the above geophysical and geologicalprograms.
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The previously announced transaction implementationagreement allows for Kingsrose to earn up to 75% over 8 years, throughstaged expenditure up to a total of A$15m.
Figure 1: Råna project geology,prospects, and geophysical survey areas.
Mitchell Smith, CEO and Director ofGlobal Energy Metals commented:
“Global Energy’s collaborationwith Kingsrose, a company with demonstrated experience and acommitment to project exploration and development, will substantiallyenhance the opportunity to realize the full potential of the Rånaproject and the overall region. We are firm believers in thetremendous potential for Råna and the opportunity to responsiblydevelop metals, such as nickel, that are key to supporting modernsociety and its transition to a low-carbon future. We see ournon-share dilutive strategic partnership with Kingsrose on Råna as asignificant catalyst to our partner funded exploration and developmentactivities and overall growth of the Company.”
Fabian Baker, Kingsrose ManagingDirector, commented:
"The scale ofthe Rana intrusion and widespread surficial mineralisation, coupledwith a lack of exploration via modern geophysics to date, makes theproject a very exciting target for the discovery of high-gradenickel-copper-cobalt mineralisation. We have rapidly developed anexploration strategy and a high-quality team to operate the projectand look forward to providing regular news flow as the work proceedsthrough the summer. ”
About Kingsrose Mining Limited
Kingsrose MiningLimited is a leading ESG-consciousand technically proficient mineral exploration company listed on theASX. In 2021 the Company commenced a discovery-focused strategy,targeting the acquisition and exploration of Tier-1 critical mineraldeposits, that resulted in the acquisition of the Penikat andPorsanger PGE-Nickel-Copper projects in Finland and Norwayrespectively.
QualifiedPerson
Mr. Paul Sarjeant, P. Geo., is thequalified person for this release as defined by National Instrument43-101 - Standards of Disclosure for Mineral Projects.
Global Energy MetalsCorporation
(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 believesNow is the Time to be part of this electrificationmovement.
For FurtherInformation:
Global Energy MetalsCorporation
#1501-128 West PenderStreet
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
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www.globalenergymetals.com
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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 toupdate these forward-looking statements in the event thatmanagement’s beliefs, 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.
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