GEMC:CC - Global Energy Metals Provides Technical Update on Nevada-Based Lovelock and Treasure Box Copper-Nickel-Cobalt Projects and Files NI 43-101 Technical Report
(TheNewswire)
Vancouver, BC - TheNewswire -December 7, 2023 - Global Energy MetalsCorporation (TSXV:GEMC)(OTC:GBLEF) (FSE:5GE1) (“ Global Energy Metals ”, the “ Company ” and/or “ GEMC ”), amulti-jurisdictional, multi-commodity critical mineral company withexposure to growth-oriented battery metal projects supporting theglobal transition to clean energy, is pleased to provide an update onits Lovelock Mine andTreasure Box projects (“Lovelock” “Treasure Box” and/or the “Projects”)announcing the filing of a Technical Report in accordance with National Instrument43-101 - Standards of Disclosure for Mineral Projects (“NI43-101”) (the “Report”). The Report is available on SEDAR atwww.sedar.com and the Company’s website, www.globalenergymetals.com .
The Report represents an importantmilestone for the Company as it provides a comprehensive andindependent evaluation of the Projects. The Report is effective as ofNovember 28, 2023, and follows the successful negotiation and closingof the consolidation of 100% ownership in the Projects. GEMC holding100% ownership of the Projects simplifies decision-making and providesthe optimal structure to oversee the rapid exploration and developmentof key U.S. based battery minerals projects at a time when securingfuture supply of critical minerals required for a North Americanbattery supply chain is a top priority.
Mitchell Smith, GlobalEnergy Metals’ CEO and Director, said:
“ The Reportrepresents a significant step forward for Global Energy Metalsproviding valuable information for our shareholders and investors andunderscores the significant potential of the Projects. We will nowevaluate and compare a broad selection of options for the purpose ofmaximizing value and realize the potential, as demonstrated by theReport, the Projects have in the growing North American battery metalsmarket. ”
Global Energy Metals Corporationretained Trevor Mills of Dahrouge Geological Consulting USA Ltd.(“Dahrouge”), to prepare an independent Technical Report on the Projects, located inPershing County and Churchill County, Nevada, USA.
The Lovelock Mine Property consists of 27 contiguousunpatented lode mining claims in Pershing County, Nevada and 63unpatented lode mining claims in Churchill County, Nevada coveringapproximately 1,813 acres. The Treasure Box Property consists of 76contiguous unpatented lode mining claims in Churchill County, Nevada,covering approximately 1,561 acres.
This Technical Report has been prepared in compliancewith regulatory disclosure and reporting requirements as outlined inCanadian National Instrument 43-101 – Standards for Disclosure forMineral Projects (“NI 43-101”), companion policy NI 43-101CP andForm 43-101F1 – Technical Report. The Qualified Person responsiblefor this report is Trevor Mills, P.G., SME-RM, a Principal Geologistwith Dahrouge Geological Consulting USA Ltd.
The purpose of this report was toprovide a review of GEMC’s Lovelock Cobalt Mine and Treasure Boxprojects located in Nevada, USA. The report is being used toconsider, evaluate, and compare options for the purpose of identifyingopportunities to maximize the value for GEMC shareholders. The reportis part of GEMC’s strategic review to summarize the previousexploration conducted on the Property and provide recommendations forfuture work.
Interpretation &Conclusions:
Work conducted to date by GEMC hassuccessfully advanced understanding of the geology and mineralizationat both the Lovelock Cobalt Mine Property and the Treasure BoxProperty. A combination of sampling programs, geophysical studies, anda drilling program have provided successful results that confirmhistorical mineralization and confirm work by recent owners of theproperties. Underground mapping and sampling identified N40E and N75Wstructural controls and post-mineral faulting at the Lovelock CobaltMine. Results of a limited drilling program in 2022 indicate a 9- to16-meter-thick zone of Co-Ni-Cu mineralization in the hanging wall ofthe N40E fault that corresponds to a chargeability high identified ina 2018 DC/IP resistivity survey. Geophysical magnetic surveys of theLovelock Cobalt Mine property were able to partially distinguish majorlithologies, correlate linear magnetic features with mapped surfacefaults, and potentially identify alteration within the maficlithologies.
Magnetic surveys at the Treasure BoxProperty have successfully identified several faults within mafic HMCrocks that are interpreted to continue under the overlying rhyoliticextrusive rocks. Numerous magnetic-high anomalies also correlate withpreviously identified soil anomalies for base and precious metals (Au,Ag, Zn, Cu). A mineralized oxide zone has been partially delineated with trenching,surface sampling, and drillholes. Many faults interpreted from themagnetic surveys correspond to mapped surface faults highlighting theeffectiveness of the method. Machine learning using geophysical dataand remote sensing multispectral imagery was used to correlateclustered data to known geology and improve geological contacts andgenerate prospective targets. A ground-truthing sampling program ofthese targets returned positive results.
The successful results using geophysicalmethods encourages further utilization. Additional IP surveys and/orcontrolled-source audio magnetotellurics/magnetotellurics (CSAMT/MT)Hybrid-Source Audio-Magnetotellurics (HSAMT) can be considered toprovide further definition of geological features. Ground truthing offeatures via detailed geological mapping is encouraged. Grossgeological units have been defined; however, understanding the detailsof the mineralized units will require quality geological mapping oflithology and alteration. Systematic rock and soil sampling will alsoprovide important data to combine with mapping and new geophysicalsurveys to further understanding of mineralization on theProperty.
Positive exploration results at bothproperties continue to indicate the potential at each location andfollow-up work should be planned. Positive exploration results at eachproperty to date suggest the potential to advance the extent of knownmineralization. Known mineralization trends are also present withinthe patented claims near each property and may represent extensions ofmineralization within GEMC’s holdings.
The Author concludes that the LovelockCobalt Mine Property and the Treasure Box Property are properties ofmerit and warrant continued exploration.
About DahrougeGeological Consulting Ltd.
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 and minesite operations.
QualifiedPerson
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 MineralProjects.
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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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 believes Nowis the Time to be part of this electrification movement.
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 to updatethese forward-looking statements in the event that management’sbeliefs, estimates or opinions, or other factors, shouldchange.
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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