GBLEF - Global Energy Metals Closes Acquisition of Monument Peak Copper-Silver-Gold Project in Idaho and the Chance Lake and Amiral Nickel-Copper-Cobalt-PGE Projects in Quebec
(TheNewswire)
Vancouver, BC - TheNewswire - May 21, 2021 - GlobalEnergy Metals Corporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the “Company” and/or“GEMC ”), a company involvedin the investment exposure to the battery metals supply chain, ispleased to announce it has closed the acquisition of a portfolio ofbattery metal projects from DG Resource Management, which include, (i)the Monument Peak Copper-Silver-Gold project, located in Lemhi County,Idaho USA, (ii) the Chance Lake Nickel, Copper, Cobalt property in theHollinger North Shore region, Quebec; and (iii) Amiral Nickel, Copper,PGE property, located in the Grenville region, Quebec (collectively,the “Properties”).
The acquisition is part of an ongoingeffort by the Company to assemble battery metals-rich projects intop-tier mining jurisdictions with exploration & developmentupside. For further details, please referto the Company’s news releases dated March 2,2021 and March 23,2021 .
Mitchell Smith,President & CEO of Global Energy Metals, said, “ We are thrilled to close this acquisition which expands GlobalEnergy’s battery metal portfolio in North America. We will benefitfrom the excellent work done by DG Resource Management from whom weinherited a comprehensive suite of high-quality exploration data. AtMonument Peak specifically, results indicate the copper-silver-goldmineralization is characteristic of a Volcanogenic Massive Sulfide(VMS) deposit which offers a compelling exploration target with over3,000+ m of mapped strike length. The Company intends to undertakean aggressive exploration program at Monument Peak, following theplanned drill campaign our Nevada-based Lovelock cobalt-nickel-copperproject.”
Recent comprehensive work on the Properties providesGlobal Energy Metals with a solid framework from which to resumeexploration. The company is currently planning for additionalspring/summer reconnaissance exploration at Monument Peak to evaluatehistorically defined targets, which will include the completion of aNI 43-101 compliant technical report, and which is intended to providerecommendations for an aggressive summer/fall drill program.
At Monument Peak, the Company recently reported thatfield crews visited four known mineraloccurrences (Jackson/Baker, Hungry Hill Mine, Anderson an d North Showing) and confirmed the high-gradecopper-silver-gold mineralization at all locations. Observedmineralization style and grade is similar across all showings, withnotably higher copper grades (up to 20.9% Cu) at Hungry Hill, whilethe North Showing had the highest gold values (up to 11.4 g/t Au). High grades of silver (greater than 80 g/t Ag) were associated withall mineral occurrences. Arithmetic average of all grab samples 2.34% Cu, 57.6 g/t Ag,0.68 g/t Au.
The Company has agreed to acquire its interest in theProperties by making $200,000 in cash payments and issuing 1,750,000shares and 1,750,000 warrants. Each warrant will be exercisable intoone share at a price of $0.30 per share for atwo-year period, subject to an acceleration right. Pursuant to theAgreement, the Vendors have agreed to spend $100,000 on a work programon the Monument Peak property.
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 | OTC:GBLEF| FSE:5GE1)
Global Energy Metals Corp. offers investment exposure to the growingrechargeable battery and electric vehicle market by building adiversified global portfolio of exploration and growth-stage batterymineral assets.
Global Energy Metals recognizes thatthe proliferation and growth of the electrified economy in the comingdecades is underpinned by the availability of battery metals,including cobalt, nickel, copper, lithium and other raw materials. Tobe part of the solution and respond to this electrification movement,Global Energy has taken a ‘consolidate, partner and invest’approach and in doing so have assembled and are advancing a portfolioof strategically significant investments in battery metalresources.
As demonstrated with our currentcopper, nickel and cobalt projects in Canada, Australia, Norway andthe United States, we’re investing-in, exploring and developingprospective, scaleable assets in established mining and processingjurisdictions in close proximity to end-use markets. We’re targetingprojects with low logistics and processing risks, so that they can befast tracked to enter the supply chain in this cycle. We’realso collaborating with industry peers to strengthen our exposure tothese critical commodities and the associated technologies requiredfor a cleaner future.
Securing exposure to these criticalminerals powering the eMobility revolution is agenerational investment opportunity. We believe the the time to bepart of this electrification movement.
For FurtherInformation:
Global Energy MetalsCorporation
#1501-128 West PenderStreet
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
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 ordevelopments may differ materially from those in the forward-lookingstatements. Except as required by law, the Company undertakes noobligation to update these forward-looking statements in the eventthat management’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.
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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