GBLEF - Global Energy Metals Opens Significant Exploration Potential at Lovelock Mine via Data Reinterpretation Study
(TheNewswire)
Vancouver, BC - TheNewswire - November 9, 2020 - Global Energy MetalsCorporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) ("Global Energy Metals", the"Company" and/or "GEMC ") is pleased to provide an exploration updatefor the LovelockMine project("the Project"), which includes results from thereprocessing and reinterpretation of existing data including that fromthe positive airborne magnetic and orthophoto digital surveys thatwere conducted at the cobalt-nickel-copper prospective project inNevada.
The Company recently engaged SJGeophysics Ltd. ("SJGeophysics") to review the airborne magnetic data and assemble acomplete, extensive, comprehensive and detailed data compilation andinterpretation program including a 3D inversion model showing apossible subsurface distribution of the magnetic susceptibilityproperty of the rocks (the "SJ Study") for its recently acquired andhighly prospective Lovelock Mine & Treausre BoxProjects , located approximately 150km(100mi) east of Reno in the Stillwater Range, Churchill County,Nevada.
The SJ Study has led to a new interpretation of theregional structure of the Lovelock property, specifically in thevicinity of the historical mining of high-grade cobalt and nickel thatoccurred at the Lovelock Mine and those areas in close proximity thatwere previously identified as high priority targets.
Timothy Strong, Project DevelopmentManager commented:
"Given thepositive airborne geophysics combined with historic findings includinga ground IP survey along with underground mapping and sampling data,we are increasing our understanding of the geological potential of theLovelock Mine area."
"There-interpretation of the 2019 airborne magnetic and orthophoto surveyssuggest that the Lovelock Mine is located within a corridor of strongstructural control with several subparallel structures indicating thepotential for multiple mineralized zones related to these structures.Importantly, the SJ Study has identified high-priority drill targetswhich would complement the exploration fieldwork previouslyconducted. "
Highlights of the Study:
-
- Re-interpretation has significant implications forfurther exploration at the Project including greatly enhancing theCompany's ability to successfully target and drill newly definedanomalies;
- The magnetic data implies the basalts and sedimentaryrocks that host the known Lovelock deposits extend another 2.5 km tothe northwest of the Lovelock Mine (see Figure 1);
- Inversion modelling suggests a cluster ofchargeability anomalies mapped to the west of the Lovelock Mine couldbe centred by a subtle, low susceptibility pipeor cone structure. This could be an indication of an intrusion orpossible feeder zone to a hydrothermal system;
- There are a total of eighteen magnetic high anomaliesmapped across the survey that could be reflecting alteration with apossible response of reflecting an accumulation of magnetite, one ofthe accessory minerals reported with both the Nickel and Lovelockdeposits (see Figure 2);
- All of these magnetic anomalies model as smalllenses, extending from surface to around 150 metres depth;
- Many of these localized magnetic targets clustertogether, forming a ring surrounding a localized magnetic low. Four ofthese ring-type structures are mapped within the survey area. Theseresponses can be interpreted as mapping an alteration zone surroundinga low susceptibility intrusive plug (see Figure 2); and
- Chargeability anomalies have been targeted with eight(8) proposed drill holes (see Figure 3).
Figure 1. Contact Interpretation ofTotal Magnetic Field Intensity Colour Contour Map, Filice Geologyoverlay
Click Image To View Full Size Figure 2. Magnetic anomalies over shadow enhanced TFM Colour ContourMap. Illumination from southwest
Figure Notes: Black hashed ellipses flag high magneticanomalies. Dashed circles reflect possible intrusive systems.
Figure 3. Mag3d Inversion ModelIsosurface. Chargeability Inversion Model Isosurfaces. Side view fromSouth.
Figure Notes. Magnetic Isosurfaces: Blue translucent =-0.006 SI, Blue solid =- 0.0065 SI. ChargeabilityIsosurfaces Green Translucent = 9ms, Solid Green = 10ms DEM colourcontour map draped over ground surface.
Mitchell Smith, CEO & Directorcommented:
" We are very pleased to see such excitingresults come from early first steps in our on-going program toleverage the latest geological thinking and geophysical technologytowards systematically rethinking key aspects of thisnickel-cobalt-copper district."
"While at apreliminary stage, the new reinterpretation is a rethink of thestructural framework of the Lovelock Mine area and could betransformational for the Project as we continue to evaluate theregional exploration potential across our significant land holdings and the overlooked part of this mineral rich district inNevada."
The Company believes that the SJ Study, extending frompreviously mined orebodies to key undeveloped prospects andexploration targets, 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. The model's construction is seen as apriority for future exploration including undertaking additional IPsurveying, geological prospecting and mapping the chargeabilitytargets prior to a diamond drilling program consisting of a suggested8 holes, totaling 1138 metres.
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 and has reviewed and verified thetechnical information contained herein.
About SJ GeophysicsLtd.
SJ Geophysics Ltd. and its subsidiaryS.J.V. Consultants Ltd. provide geophysical contracting and consultingservices to the global mineral exploration community. Groundgeophysical surveys have been conducted in over 30 countries on 6continents in a wide range of conditions and geologic environments. SJGeophysics has developed a proprietary Volterra DistributedAcquisition System, a modern multi-method geophysical system, capableof acquiring 2D/3DIP, EM, MT, and Borehole data. The company hasworked on a wide range of deposit types across the world and hassignificant experience with 3D magnetic and 3D induced polarizationmodeling and interpretation.
Global Energy MetalsCorporation
(TSXV:GEMC |OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused onoffering investment exposure to the raw materials deemed critical forthe growing rechargeable battery market, by building a diversifiedglobal portfolio of battery mineral assets including project stakesand sector specific equity positions. GEMC anticipates growing itsbusiness through the acquisition and development of battery mineral projects alongside keystrategic partners. The Company holds 100% of the Millennium CobaltProject and two neighbouring discovery stage exploration-stage cobaltassets in Mount Isa, Australia positioning it as a leadingcobalt-copper explorer and developer in the famed mining district inQueensland, Australia. The Company is finalizing on the acquisition ofan 85% interest in two battery mineral projects, the Lovelock CobaltMine and Treasure Box Project, located on the doorstep of the world'slargest lithium-ion battery production plant, GigaNevada that TeslaMotors Ltd. and partner Panasonic Corp. have built in Nevada,USA. Additionally, theCompany holds a 70% interest in the past-producing Werner Lake CobaltMine project in Ontario, Canada.
For FurtherInformation:
Global Energy MetalsCorporation
#1501-128 West PenderStreet
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219 extensions236/237
Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals
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