GBLEF - Global Energy Metals Commences First-Ever Drill Program at the Lovelock Cobalt-Nickel-Copper Project in Nevada; Provides Raw Material to American Battery Technology Company for Processing
(TheNewswire)
Vancouver, BC - TheNewswire - October 18, 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 that drilling has commenced at the LovelockCobalt-Nickel-Copper project (“Lovelock”) located in the prolific IOCG belt of theStillwater Range in Nevada, USA. Global Energy Metals has undertakena thorough technical review of the Lovelock data and has prioritized aseries of drill targets which will be tested with an initial plannedprogram of four holes totalling approximately 1,000metres.
As a result of its recently announced collaborative agreementwith American Battery Technology Company (“ABTC”), GEMC has now provided raw material from itsNevada based projects to undergo an in-house procedure of developingnew first-of-kind processes for producing battery cathode grade nickeland cobalt metal sulfates. This fundamental development work willconsist of rigorous thermodynamic analytic modeling, bench scaleempirical trials, and techno-economic analyses to quantify thecompetitiveness of the developed process flowsheets against currentmarket conditions.
Highlights
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- Initial 1,000 metres of targetedreverse-circulation drilling focused on making newcopper-nickel-cobalt discoveries along newly defined conductors atLovelock;
- Recent geophysics studies haveidentified high-priority drill targets that complement the explorationfieldwork previously conducted;
- There is strong discovery potential inand around the Lovelock properties as well as at regional targetsidentified;
- GEMC has supplied raw material fromits Lovelock and Treasure Box projects in Nevada to undergo ABTC’sin-house procedure of developing new first-of-kind processes forproducing battery cathode grade nickel and cobalt metal sulfates;and
- GEMC continues to evaluate strategiccooperative opportunities that could enable securing a stable supplyof battery minerals critical for the electrification of vehicles andenergy storage to the North American market.
Mitchell Smith, GlobalEnergy Metals’ President & CEO commented:
“ This is an exciting moment for GlobalEnergy Metals and it’s shareholders. We are pleased to announce thatO’Keefe Drilling has commenced the Company’s first drillingcampaign at the Lovelock Mine project in Nevada. Following encouragingfield and geophysical work, the team believes that Lovelock displayspotential for near-surface cobalt, nickel and copper mineralisationand could become a significant discovery opportunity in the highlyprospective Stillwater IOCG region. As a high priority target for thecompany, we look forward to updating shareholders on our progress ofboth the drill program and ABTC’s processing of cobalt and nickelmaterial for battery application from our projects. ”
The majority of the first pass drillingprogram this season will be focused on confirming intersections ofcobalt-nickel-copper bearing vein that correlates with historicalunderground mining and mapped superficial cobalt-nickel-copperoccurrences. The 1000 metre initial drill program is directed at twotarget areas within the property: the “ Lovelock MineZone ”, which is host tohistorical underground mining of high-grade cobalt, nickel and copper,and the “ New Zone ”, a large area within a corridor of strong structuralcontrol with several subparallel structures indicating the potentialfor multiple mineralized zones related to these structures that hashistorically returned high-grade cobalt, nickel and copper assays insurface and underground sampling.
Image 1. Sitepreparation the Lovelock Cobalt-Nickel-Copper Project in Nevada,USA.
Image 2. Drill rig onlocation at the Lovelock-Cobalt-Nickel-Copper Project in
Nevada, USA.
Drill targets were generated through ahigh-power induced polarisation (“IP”) ground geophysical survey,which were subsequently prioritized by a follow-up surface geochemicalprogram and airborne magnetic survey. The data interpretation hasallowed for a better understanding of the area, extending frompreviously mined orebodies to key undeveloped prospects andexploration targets, and greatly enhances the Company’s ability tosuccessfully target and explore for new, buried, high-gradecobalt-nickel-copper deposits across the large footprint in a highlyprospective mining district.
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 believe thethe time to be part 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 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.
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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