GEMC:CC - GLOBAL ENERGY METALS Assays up to 36% Copper From Sampling Program at the Treasure Box Project; Confirms Mineralization Within Targets Identified Using Earthlabs' Ai and Machine Learning Technology
(TheNewswire)
Vancouver, BC - TheNewswire -November 23, 2022 - GlobalEnergy Metals Corporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the “Company” and/or“GEMC”) , a company involved in investmentexposure to the battery metals supply chain, is pleased to provide akey update from its Nevada, USA based Treasure Boxproject (“Treasure Box” and/orthe “Project”).
Figure 1: Photo depicting historicalworkings situated on the unconformity between the Jmv basalts and theoverlying Tv rhyolites. Subcropping CuOx zone presumed to be locatedbelow the red oxidized leach cap.
Highlights
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Prospecting and sampling program forthe Project now complete
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Assay results from the programhighlight the prevalence of copper mineralization, with localizedhigh-grade silver.
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Assays included 36.4% Copper, 176g/tSilver, and 1.325g/t Gold
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Confirmed mineralization in areasidentified by Earthlabs as priority targets
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Results of this initial field workat the Property are encouraging and additional work iswarranted.
Mitchell Smith, CEO & Director ofGEMC commented:
“The results from Treasure Box areextremely encouraging with exploration to date building confidence inthe project as a compelling discovery story. The immense potentialdemonstrated by the particularly strong copper assay results validateour predictive exploration model with significant implications for thepotential copper endowment in this region.”
The 2022 prospecting and sampling program for theProperty was conducted over four days, from September 14 – September17, 2022. A total of 39 samples were collected, with the focus beingon target areas previously identified by Earthlabs Inc., formerlyGoldSpot Discoveries Corp. (TSX-V:SPOT, OTCQX:SPOFF) (“Earthlabs“and/or “Goldspot”) using various geophysical, geological, andremote sensing data.
The primary objectives of the program were to confirmlocations of historical mining and exploration, perform an initialassessment of the proposed lithologies andstructures on the Property, and to determine target areas that warrantfurther exploration efforts. Field verification and follow up based onGoldspot’s target areas was the primary focus of the program.Highlighted analytical results from 9 different locations arepresented below in Table 1.
Table 1. Treasure Box 2022 SamplingHighlights
Assay results from the program highlight the prevalenceof copper mineralization, with localized high-grade silver. Allsamples of significance occurred near the unconformity boundarybetween the Jurassic mafic volcanics unit and the younger, overlyingrhyolite flows. Several samples collected from old prospect pits andtailings confirm values of copper and silver can be significant andoccur together. Notably, samples with higher hematite and copperoxides produced the highest assay results.
Samples collected from the Goldspots target area‘2’ (Figure 2) contained the highest assay values and werecollected directly from the unconformity contact between the Jurassicbasalts and the overlying Tertiary rhyolites. Prospect trenches andpits located between target areas ‘4’, ‘11’, and ‘10’produced samples with moderate copper mineralization with weak goldvalues. The mineralization in these samples which are located roughly500 feet from the unconformity contact, is presumed to be related tolocal fault structures.
Figure 2. Project Geology withGoldspot Target Areas and 2022 Sampling Locations Highlighted.
The results of this initial field work at the Propertyare encouraging and additional work is warranted. The next phase ofexploration work should include detailed geologic and structuralmapping over the Property’s extent, and systematic rock and soilsampling program across more focused target areas delineated duringthis program and results derived during geologic and structuralmapping.
Structures in the area appear to have generalnorthwest-southeast to north-south trends, which have locallyinfluenced several historical Cu-Ag-Au mineralized showings.
Figure 3. Copper - 2022 Rock Assays
The primary target areas identified by GoldSpot focusedon proposed structural boundaries and contacts. In general, field workconfirmed the existence of many of these faults and lithologiccontacts. Measured Dip and Dip Direction of both lithologic contactsand mineralized structural trends confirm a generalnorthwest-southeast trend for structures.
The NE-SW striking structure zone, seen as yellowdashed lines in Figure 4, intersects historical prospect pits andadits, and likely influenced mineralization seen in samples TB22-014,-017, -026, and in samples TB22-027 through TB22-031. The lattersamples (TB22-027 – 031) are centered around the historical TreasureBox/ Boyer Mine site.
It is recommended that future field work includedetailed geologic mapping and accurate structural measurements of thisproposed structure, with further sampling focused along the strikelength of the faulting in that area.
Figure 4. Proposed Changes toLithologic Boundaries and Mineralized Faults +
Targets for FutureProspecting
It is recommended that future work continue todelineate the extent of mineralization along the unconformity betweenthe Jurassic mafics and Tertiary rhyolite units. Zones with notableoxidation and strong alteration should be carefully mapped, and theore-fluid containing structures identified. Sampling along the strikelength of these structures throughout the Property would be the finalphase of field exploration.
The southern extent of the Property will need to besampled and mapped, in order to correlate the relationship betweenmineralization and the intruding HMC gabbros and diorites.
There is evidence for other mineralized zones outsidethe claim property boundary, particularly concentrated along thepaleosurface between the Jmv and Tv. Most of the work conducted in the2022 field program was focused on the historic workings and on thedelineated structure-contact targets identified by Goldspot. It isrecommended that additional mapping and prospecting is conductedwithin and beyond the limits of the current claim boundary alongstrike of the main structure, to better understand the controls onmineralization. Once surface extents and detailed mapping arecompleted and assessed, the next phase would be to develop a drillprogram to test the depth of mineralization atthe unconformity contact, explore for mineralization not exposed atsurface, and develop a structural framework of the mineralized faultsystems.
Photo 1. Historical Prospect Pit -Collection site of TB22-004 with visible Cu oxide development alongfractures and veins, including malachite and azurite within alteredmafic basalt unit. Lesser FeOx stains fracture surfaces.
Photo 2. Historical adit withmalachite and azurite showings; host rock is an altered mafic basalt(TB22-012).
QualifiedPerson
Mr. Paul Sarjeant, P.Geo., is the qualified person for this release as defined by NationalInstrument 43-101 - Standards of Disclosure for MineralProjects.
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 believesNow is the Time to be part of this electrificationmovement.
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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.
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