GBLEF - Global Energy Metals Expands Drill Program at Lovelock Mine Project in Nevada to Include Drilling at Treasure Box to Test Historically High-Grade Copper and Cobalt Mineralization
(TheNewswire)
Vancouver, BC - TheNewswire - May 27, 2021 - GlobalEnergy Metals Corporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the “Company” and/or“GEMC ”), a company involvedin project level investment exposure to the battery metals supplychain, is pleased to announce it has applied to the Bureau of LandManagement, Nevada State Office to expand its permitted drillprogram planned forthe Lovelock Mine project (“Lovelock”) to include the nearbyTreasure Box project (“Treasure Box”) in Nevada,USA.
The currently planned 1,400 metreprogram (6 to 8 drill holes) at Lovelock has been expanded toapproximately 2,100 metres (9-10 drill holes) to capitalize on havingdrill contractors onsite at Lovelock so that the company can testhistorically high-grade copper and cobalt mineralization at TreasureBox.
The Company is fully funded for theexpanded program.
Highlights
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- Expanded drill program from 1,400metres (6 to 8 drill holes) to 2,100 metres (9-10 drill holes) in thefully funded program;
- Drilling will focus on making newcopper-nickel-cobalt discoveries along newly defined conductors atLovelock as well as at the Treasure Box deposit;
- Most of the historical work atTreasure Box has consisted of shallow drilling at the deposit areawith little regional work carried out and limited deeper drillingbelow the deposit;
- There is strong discovery potential inand around the Lovelock and Treasure Box properties as well as atregional targets identified; and
- Modern exploration techniques andmethods are being utilized at the Nevada properties with a goal ofmaking new discoveries of battery metals critical to the technologiesenabling a low-carbon economy.
About TreasureBox
The Treasure Box project, consisting of76 unpatented lode claims, is an exploration-stage copper, cobalt,nickel, gold exploration property in the Table Mountain MiningDistrict, Churchill County, Nevada. The mineralization at Treasure Boxis a classic example of an iron-oxide copper gold (IOCG) occurrence.Both Treasure Box and Lovelock lie within the widespread HumboldtMafic Complex, which is a large gabbroic-basalt complex that wassubsequently subjected to intense and widespread hydrothermalalteration. Primary IOCG mineralization is present at relativelyshallow depths as shown by limited historical drilling.
Treasure Box hosts mine workings fromlimited copper production, which occurred until early into the 20thcentury. A historical diamond drill hole (circa 1910) drilled at theTreasure Box project by the Boyer-Nevada Copper Company reportedly intersected 1.52% copperover 85 feet (25.9 metres) with mineralization beginning at surface. Areverse circulation hole drilled on the Treasure Box project by UtahInternational in 1976 returned 1.55% copper over 40 feet (12.2 metres)from a depth of 85 to 125 feet (25.9 to 38.1 metres), and the hole wasstopped in chalcopyrite mineralization. The core Treasure Box claimswere held continuously for over 20 years by a private company but wererelinquished in September 2017, leading to their acquisition by NevadaSunrise and subsequently by Global Energy Metals in October2020.
Image 1. Field imagesat Treasure Box showcasing at-surface copper staining.
Qualified Person
Mr. Paul Sarjeant, P. Geo., is the qualified person forthis release as defined by National Instrument 43-101 - Standards ofDisclosure 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 Metals 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 the Company’scurrent copper, nickel and cobalt projects in Canada, Australia,Norway and the United States, GEMC is investing-in, exploring anddeveloping prospective, scaleable assets in established mining and processingjurisdictions in close proximity to end-use markets. Global EnergyMetals is targeting projects with low logistics and processing risks,so that they can be fast tracked to enter the supply chain inthis cycle. The Company is also collaborating with industry peersto strengthen its exposure to these critical commodities and theassociated technologies required for a cleaner future.
Securing exposure to these criticalminerals 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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