GEMC:CC - GLOBAL ENERGY METALS Intersects Nickel Copper and Cobalt Mineralization with Phase One Drilling at the Lovelock Mine Property
(TheNewswire)
Vancouver, BC / TheNewswire / April 7, 2022 / Global Energy MetalsCorporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the“Company” and/or “GEMC ”), a company involved in investment exposure to the batterymetals supply chain, is pleased to announce that the Companyintersected nickel, copper and cobalt mineralization during its PhaseOne drilling at the at the LovelockCobalt-Nickel-Copper project (“Lovelock” and or the “Project”) located in theprolific iron oxide copper gold (“IOCG”) belt of the StillwaterRange in Nevada, USA.
Commenting on thedrill program, Timothy Strong, Project Devlelopment Managersaid:
“ Our understanding of the copper, cobaltand nickel mineralization in the extensive IOCG system at Lovelockcontinues to improve as a result of the 2021 drilling program. Threeof the target areas tested on this limited initial drill campaign haveyielded intersected mineralization of the key battery metals targetedwhich will require follow-up testing, including excellent results fromthe areas adjacent to and under the historical mine. In addition,there are still multiple areas yet to be tested, and through the newlyentered partnership with GoldSpot Discoveries, GEMC is underway onworking on prioritizing new targets for a second phase drillprogram. ”
GEMC is pleased with the preliminary,widely-spaced drill holes it was able to complete prior to the end ofthe year having intersected mineralization at select targets andgaining valuable technical information for future programs.Importantly, elevated values of cobalt, nickel and copper wereintercepted in three of the holes which targeted possiblemineralization beneath the historical mine workings.
Surface sampling, mapping andgeophysical surveying identified a number of potential mineralizedareas on the property. This limited drilling program was planned totest several of these anomalies including those around the vicinity ofthe former-producing Lovelock Mine. Electrical chargeability anomalieswere identified from the initial induced polarization survey conductedin 2017. Eight reverse-circulation drill holes were designed topenetrate prospective anomalous zones. Seven of the originally planneddrill holes were completed before the end of the year. Details foreach hole are included in Table 1.
Figure 1. Topographicbase map showing 2021 RC drill hole locations, Lovelock mine workingsand interpreted faults, Lovelock prospect, Churchill County,Nevada
The Company is also pleased to provide afirst set of sample analyses that have been received from the projectlaboratory, American Assay Laboratories of Sparks,Nevada.
All of the drill holes intersectedHumboldt Mafic Complex (HMC) formations. Altered diorite and gabbro,greenstone volcanics, Boyer Ranch Formation quartzite, and a fewaplite dikes were encountered in the drilling and described in detailin the drill hole logs. Strong propylitic alteration of HMC units andsilicification of the Boyer rocks were evident in all of the drillholes.
According to these results, three of theseven holes intersected mineralized rock. Most notable were holesLCo212, LCo214 and LCo215, drilled at the Lovelock Mine Zone, the areadirectly correlated with old workings that supported undergroundmining of high-grade cobalt, nickel and copper. These holesintersected wide zones of mineralization with cobalt, nickel andcopper in what has become a high-priority area for furtherexploration.
Laboratory analysis of drill cuttingsamples returned anomalous concentrations of Cu, Co, Ni, As, and Sbacross intervals in three of the seven holes completed. Anomalous Agand Hg concentrations are also present in the samplesanalyzed.
Intervals containing anomalousconcentrations of copper, cobalt, nickel, and associated elements aresummarized in Table 2.
Table 2. LovelockProject 2021 Drill Hole Sample Highlights
Analytical results clearly showmineralization in the interval from 44.21 to 60 meters hole depth (145to 195 feet) in LCo215. Mineralization in LCo212 and LCo214 is moresubtly evident in the results. In LCo214, the 9.15-meter (30 feet)interval from 41.16 to 50.77 meters (135 to 165 feet) returnedsignificantly higher concentrations of metals than the intervals aboveand below. Likewise, the 10.67- meter (35 feet) interval from 19.83 to30.77 meters (65 to 100 feet) in LCo212.
In LCo212, the drill intersected a voidat a hole depth of from 10.67 to 15.24 meters (35 to 50 feet). Thebottom elevation of this void corresponds to the elevation of thedeepest workings of the historical nearby Lovelock Mine. The void mayrepresent an exploratory drift by the former operators to the westside of the Main Fault looking for an extension of mineralization thatwas being extracted from the Mine. The highlighted LCo212 interval isimmediately below the void encountered during drilling and may besuggestive of mineralization nearby.
In all three highlighted drill holeintercepts, mineralization occurs above each drill hole intersectionwith the Main Fault, likely the primary target identified by the IPsurvey.
The analytical results from drillingsuggest the presence of primary Cu-Co-Ni sulfides, arsenides andantimonides described in the literature as having been present in theoriginal material from which cobalt was produced historically. Thesecondary oxidation products of this primary mineralization may alsobe present in the samples. These oxides are present on the waste dumpsat Lovelock Mine. Elevated concentrations of copper, cobalt, nickel,arsenic, and antimony in the samples indicates the presence ofmineralization similar to that describe in the literature and observedon the waste dumps of the Lovelock Mine.
All drill holes provided valuableinformation in, what until now, has been a drill-deficient area. Thisnew data will now be factored into our conceptual model of thedistribution of mineralization and the controls on the types ofmineralization on the property.
Lovelock MineProject
The Lovelock Mine Project is prospectivefor copper, cobalt and nickel in an exhalative deposit associated withintrusive and extrusive igneous rocks of the Jurassic-age Humboldt Mafic Complex. Therocks around the Lovelock Mine consist of altered diorite/gabbro andassociated altered andesite/basalt and metasedimentary rocks of theBoyer Ranch formation. The Boyer consists of quartzite composed almostentirely of aeolian quartz arenite. The Boyer is interfingered withthe Humboldt volcanics.
The majority of the first pass drillingprogram at the end of last year was focused on confirmingintersections of cobalt-nickel-copper bearing vein that correlateswith historical underground mining and mapped superficialcobalt-nickel-copper occurrences. The drill program was directed atseveral target areas within the property: the Lovelock Mine Zone andtargets generated through surface sampling, mapping and a high-powerinduced polarisation (“IP”) ground geophysical survey, which weresubsequently prioritized by a follow-up surface geochemical programand airborne magnetic survey. Several of these anomalies weretargeted for the initial drilling program in 2021.
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 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 thetime to be part of this electrification movement.
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