GEMC:CC - Global Energy Metals Mobilizes Field Crew to Ground Truth New Cobalt Copper Nickel Targets at the Lovelock and Treasure Box Projects
(TheNewswire)
Vancouver, BC - TheNewswire - September 13, 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 provide an update on explorationplans for its Lovelock and Treasure Box projects (the “Projects”)in the Stillwater Range in Nevada. Following recent identification ofnew cobalt, copper and nickel targets by EarthlabsInc. , formerlyGoldSpot Discoveries Corp. (TSX-V:SPOT | OTCQX:SPOFF)(“Earthlabs”) the Company has engaged Dahrouge Geological Consulting USALtd. (“DahrougeGeological”) for mineral exploration activities at the Projects.Dahrouge Geological is now on site and carrying out a number ofexploration initiatives to ground truth the Earthlabs’ findings andfurther define the scale and scope of the prospective Nevada-basedbattery metals projects.
Highlights:
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Earthlabs wasengaged to apply their proprietary machine learning applications(“AI”) and geoscience expertise to assist the Company in expandingdiscoveries and identifying new high-priority targetareas;
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A total of 30 exploration targets havebeen identified, 15 on the Lovelock Project and 15 targets identifiedon the Treasure Box Project;
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In preparation for field work, Earthlabsprovided a map of probable target zones, resulting from the AIanalysis allowing for time-and cost-efficient field exploration;and
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Dahrouge Geological has been engaged andis on site conducting a field program to field check the explorationtarget areas presented to help confirm lithologies validate andprioritize the targets generated by Earthlabs.
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The field program is planned to"ground truth" the results of the above studies prior toselecting drilling targets.
Mitchell SmithPresident and Chief Executive officer stated:
"The explorationwork completed to date has identified multiple high priority targetsexhibiting cobalt, nickel and copper mineralization. The DahrougeGeological team have a tremendous track record of discovery and wewelcome their involvement in leading this field work at our Nevadaprojects. The objective of this current program is to locate and mapthe geology of the area overlying targets generated by Earthlabs’proprietary AI technology improving drilling efficiency and chanceof success."
The mapping program is planned to coverthe two target areas to better understand the geology, structuraltrends, and mineralization controls within these high priority areas.This work will focus on mapping lithology, alterations, and mineralassociations and assess the potential of a larger mineralized system.This work will also support and potentially modify the proposed drillprogram for the Treasure Box project as announcedpreviously.
Figure 1. Sulfidesample taken (top left) from old working (bottom left). Intermediateintrusive unit (top right) taken from the outcrop on the bottom right.Lovelock project, Nevada, USA.
About Lovelock
Lovelock currently consists of 81 unpatented lode claims in the CottonwoodCanyon area of the Stillwater Range totaling approximately 1,586 acres(642 hectares). It was discovered by George Lovelock and Charles Bellabout 1880. According to U.S. Government annual reports, the LovelockMine saw limited production of nickel, copper and cobalt beginning in1883. The primary cobalt mineral was identified as “cobaltite”.The general average of the 200 tons shipped in 1886 averaged 14percent cobalt and 12 percent nickel. The mine operated from 1883 to1890 to the 100 foot level, reporting 500 tons of cobalt and nickelmineralized material shipped to England for processing. Afterintermittent production, an English company attempted smelting on sitein 1898 but little or no production was made (Source: “MineralResources of the United States for 1885”, 1886). No furtherproduction from the Lovelock Mine is known for well over a centuryproviding GEMC an excellent opportunity to unlock the potential valueof the deposit through exploration work. In a recent drill program atLovelock by GEMC ,elevated values of cobalt, nickel and copper were intercepted in threeof the holes which targeted possible mineralization beneath thehistorical mine workings.
About TreasureBox
TreasureBox hosts mineworkings from limited copper production, which occurred until earlyinto the 20th century. A historical diamond drill hole (circa 1910)drilled at the Treasure Box by the Boyer-Nevada Copper Company reportedlyintersected 1.52% copper over 85 feet (25.9 metres) withmineralization beginning at surface. A reverse circulation holedrilled on the Treasure Box by Utah International in 1976 returned1.55% copper over 40 feet (12.2 metres) from a depth of 85 to 125 feet(25.9 to 38.1 metres), and the hole was stopped in chalcopyritemineralization. The core Treasure Box claims were held continuouslyfor over 20 years by a private company but were relinquished inSeptember 2017, leading to their acquisition by Nevada Sunrise. GEMCreceived approval from the US Bureau of Land Management (the“BLM”) for a proposed exploration and drill plan at the TreasureBox project that includes up to thirteen (13) vertical drill holesfrom thirteen (13) different locations. Planned drill hole lengthsrange from 350 feet (107 metres) to 500 feet (152 metres). Totaldrilling is anticipated to be 5,850 feet (1,784 meters), with aminimum drilling length of three (3) drill holes totaling 1,350 feet(412 metres). Depending on findings, individual drill hole lengthscould be extended by 30 to 50 feet (10 to 15 metres) as determined bythe company’s on-site representative. The targeted prospects havebeen identified by Global Energy Metals through a systematicexploration program over the past several months that has included anairborne magnetic survey, reinterpretation of historical InducedPolarization (IP) data, detailed mapping and desktop review ofhistorical data including past drilling.
About DahrougeGeological
Dahrouge Geological is a North Americanmineral exploration, consulting, and project management group withoffices in Canada and the United States. They provide professionalgeological, logistical, and project management services to theworld’s mining and mineral resource industry including projectgeneration, program design, geophysics, project evaluation, geology& resources, as well as mine engineering and geotechnics.
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 anddeveloping prospective, scaleable assets in established mining andprocessing jurisdictions in close proximity to end-use markets. GlobalEnergy Metals is targeting projects with low logistics and processingrisks, 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 tothese critical minerals powering the eMobility revolution is agenerational investment opportunity. Global Energy Metals believesNow is the Time to be part of this electrificationmovement.
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 at www.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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