GEMC:CC - Global Energy Metals JV Partner Kingsrose Mining Intersects 9.3 Metres at 1.0 % Nickel and 0.3 % Copper at Newly Discovered Sulphide Zone Rana Project Norway
(TheNewswire)
Vancouver, BC - TheNewswire - October23, 2023 - Global EnergyMetals Corporation ( TSXV:GEMC ) ( OTC:GBLEF ) ( FSE:5GE1 ) (“Global Energy Metals”, the “Company” and/or“GEMC”) , a multi-jurisdictional,multi-commodity critical mineral exploration and development companyfocused on growth-oriented battery metal projects supporting theglobal transition to clean energy, is pleased to announce analyticalresults from the first two diamond drill holes at the Rånbogenprospect, Råna Project, Norway (Figures 1 to 7 and Tables 1 and 2).Drilling has delivered high-grade massive sulphidenickel-copper-cobalt mineralisation in both holes over an interpretedstrike length of 150 metres, within a previously undrilled area whichis open along strike and down dip.
Highlights
Hole 23RAN002:
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High-grade massiveand breccia sulphide zone returned 9.3 metres at 1.0 % Ni, 0.3 % Cuand 0.10 % Co from 176.5 metres, within abroader upper mineralised zone which returned:
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26.2 metres at 0.7% Ni, 0.2 % Cu and 0.06 % Co from 169.0 metres(Hole 23RAN002, Figure 7)
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Lower mineralisedzone returned 2.7 metres at 0.9 % Ni, 0.1 % Cu and 0.08 %Co from 281.9 metres (Hole 23RAN002, Figure7)
Hole 23RAN001:
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Two semi-massive to massive sulphide zones wereintercepted 150 metres northwest along strike from 23RAN002 (Figure5)
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Semi massive tomassive sulphide zone returned 2.4 metres at 0.8 % Ni, 0.2 % Cu, 0.10% Co from 66.4 metres (Hole 23RAN001, Figure 6),within a broader mineralised interval of:
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10.2 metres at 0.4 % Ni, 0.1 % Cu, 0.05 % Co from 63.7metres (Hole 23RAN001, Figure 6)
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Semi-massivesulphide lens returned 1.3 metres at 0.6 % Ni, 0.3 % Cu and 0.09 %Co from 167.9 metres (Hole 23RAN001)
Andrew Tunningley, Kingsrose Head ofExploration at Kingsrose, commented:
“The discovery of a newhigh-grade, relatively shallow nickel-copper sulphide zone in ourfirst holes at Rånbogen is consistent with our view that the widerRåna intrusion has substantial potential to host to significantmineralisation outside of the historical mine. The holes were plannedusing a combination of geological mapping, MT and EM geophysical data.There are several additional targets in the Rånbogen prospect areawith similar signatures still to drill test.
Two stacked zones of sulphidemineralisation have been intercepted in holes 23RAN001 and 23RAN002,which indicates that the intrusion has experienced
multiple sulphide-generative eventsat various stratigraphic intervals, increasing the search space andscale potential. The whole intrusion outcrops over 70 squarekilometres, with mineralised prospects at surface across the exposedhighly prospective lower zone of the intrusion, which remainsunderexplored.”
Discussion of Results
Rånbogen
Mineralisation in 23RAN001 and 23RAN002 has beenintercepted in two main zones over a strike length of 150 metres andis broadly coincident with an ovoid, east-west trending MT conductor.Strongly conductive EM modelled plates striking northwest-southeastover 300 metres occur within the MT conductor, and mineralisation inholes 23RAN001 and 23RAN002 is broadly coincident with theseplates.
• Mineralisation is open along strike and down dip,as indicated by the MT and EM data (Figure5).
• There are several other MT conductors withcoincident EM plates and mineralised nickel rock chips at Rånbogenwhich remain untested (Figure 5).
• These targets will form the focus of the remainingdrill campaign and will be subject to continued ground and borehole EMsurveys to aid drill targeting.
The upper zone of mineralisation in 23RAN002 is hostedby peridotite and comprises a broad, disseminated zone of sulphidewhich is cross cut by a 9 metre wide zone of sulphide veins, brecciaand net, semi-massive and massive pyrrhotite-pentlandite-chalcopyrite(Figures 1 to 3). The lower mineralised zone is located at the contactbetween norite and peridotite and is inferred to represent anintrusive sulphide breccia containing autoliths of peridotite.
• The stacked and cross-cutting nature ofmineralisation indicates that there is potential for multiplesulphide-generative events, therefore multiple mineralised zones ofvarying scale and nickel tenor.
• Sulphide grain size is variable and includescoarse-grained pentlandite which occurs as loop textures, andcoarse-grained chalcopyrite which is often concentrated at the marginsof sulphide veins and intrusions.
• It is interpreted that the vari-textured hostrocks, cross-cutting injected sulphide, coarse-grained pentlanditeloop textures and formation of a peridotite-norite sill complex areindicative of a dynamic and multiphase intrusive system, in support ofa syn-orogenic chonolith model of emplacement. Such mineral systemsare fertile settings for nickel sulphide deposits worldwide.
Mineralisation in holes 23RAN001 and 23RAN002 isstratigraphically higher than mineralised outcrops in the north of theRånbogen prospect area and the Bruvann Mine.
• This suggests that mineralisation occurs inmultiple horizons associated with sills of peridotite.
• Similar, underexplored peridotite sills withelevated nickel in historical rock chips are observed along the lowerzone of the intrusion including at Arnes, Storvatnet and Eiterdalen(Figure 4).
• It is inferred that the entire intrusion isprospective for the discovery of multiple mineralised lensesassociated with peridotite sills and as offset lenses ofmineralisation in the wall rocks.
• Exploration will continue to define additionaldrill targets using the proven methodology applied by Kingsrose todate.
Bruvann
Results from hole 23BRU004 have been received (Figure8). This hole was designed to test to the west and down dip from openmineralisation in the southwest of the mined area and intercepted twolow grade zones of disseminated sulphide, between 13.8 and 14.2 metreswide and 0.22 to 0.24 % Ni, hosted in peridotite. Although below thethreshold for reporting of a significant intercept, these resultsdemonstrate that the intrusion and mineralisation is open to the westalong strike and down plunge, where there is potential for discoveryof additional massive sulphide zones adjacent to the intrusionsidewalls or as offset bodies within the footwall host rocks.
Kingsrose Mining Limited
Kingsrose is a leading sustainability-conscious andtechnically proficient mineral exploration company listed on the ASX.The Company has a discovery-focused strategy, targeting theacquisition and exploration of critical mineral deposits having Tier-1potential, that has resulted in the acquisition of, or joint ventureinto, the Råna nickel-copper-cobalt, Penikat PGE and PorsangerPGE-nickel-copper projects in Finland and Norway. Additionally,Kingsrose has been selected for the first cohort of the BHP Xplorexploration accelerator program which commenced in January2023.
Qualified Person
Mr. Paul Sarjeant, P. Geo., a Director andshareholder is the qualified person for this release as defined byNational Instrument 43-101 - Standards of Disclosure for Mineral Projects.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
www.globalenergymetals.com
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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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