GBLEF - Global Energy Metals Provides Update on Its Cobalt-Copper-Nickel Project Portfolio
(TheNewswire)
Vancouver, BC - TheNewswire - January 22, 2021 - Global Energy MetalsCorporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the“Company” and/or “GEMC ”) is pleased to announce that it is executing on aportfolio-wide, comprehensive development strategy for the Company’sjurisdictionally safe cobalt, nickel and copper projects. TheCompany believes its projects are well positioned for furtherexploration and development at a time when there is renewed interestin the battery minerals sector while price fundamentals are realigningdue to the much anticipated surge in demand and market growth that issupported by a global movement towards electric vehicleadoption.
Global Energy Metals’ currentportfolio of cobalt, copper and nickel holdings is well exposed tothis global transition towards a lower-carbon economy.
Lovelock &Treasure Box - Nevada, USA
Global Energy Metals considers the Iron Oxide Copper Gold(“IOCG”) system in which the Lovelock Mine and Treasure Boxprojects are located in as aTier-1 exploration district. Analysis of the historic data confirmsthis potential with findings from a recent data interpretation studythat provided a new interpretation of the regional structure of theLovelock property, specifically in the vicinity of the historicalmining of high-grade cobalt and nickel that occurred at the LovelockMine and those areas in close proximity that were previouslyidentified as high priority targets.
The Company’s technical team is in the process of generating astrategy for the projects including the undertaking of additional IPsurveying, geological prospecting and mapping of the current chargeability targets which would ultimately culminate in a diamonddrilling program to assess the potential for high-grade mineralizationsimilar to that historically mined at site.
As noted, limited, yet high-grade, production of cobalt, nickel andcopper has been reported on the property with the general averagegrade of the 200 tons shipped at the turn of century being 14% cobaltand 12% nickel (Source: " Mineral Resources ofthe United States for 1886 ”).
Global EnergyMetals holds an 85% interest in the Lovelock Mine and Treasure Boxprojects through its 100% owned U.S. subsidiary, U.S.Battery Metals , providing GEMC with a U.S. presence at apivotal time when the U.S. EV automotive industry becomes a pillar forthe sourcing of a localized critical battery metals supply chain andis on the forefront of national political and economic agendas.
Millennium &the Mount Isa Projects - Queensland, Australia
The Australian Financial Investment Review Board has grantedapproval for the sale of the previously announced royalty sale toElectric Royalties Ltd (“ ElectricRoyalties”) . As such, the Company and Electric Royaltiesare working towards finalizing the close of the royalty sale wherebyElectric Royalties will issue to Global Energy Metals 1.15 millionshares in Electric Royalties and make a CAD $150,000 cash payment inconsideration for an initial 0.5% gross metalroyalty on the Millennium Cobalt-Copper-Goldproject and the Mount Isa Projects .Electric Royalties has the option to increase its royalty onMillennium by an additional NSR of up to 1.5% in exchange forconsideration of $1.5 million, of which, 25% may be compensated in theform of common shares in Electric Royalties Ltd.
Global Energy Metals is also in the process of evaluating next-stepoptions, including new strategic partnerships, to advance itsportfolio of copper-cobalt-gold projects in Queensland,Australia.
Through its wholly-owned subsidiary ElementMinerals Australia PTY , Global Energy Metalshas established extensive tenement holdings totalling 2,560 hectaresacross the Mt Isa and Cloncurry district in northwest Queensland,containing a number of properties with significant cobalt explorationpotential.
Exploration to date has returned outstanding, high-grade interceptsand there is excellent potential to significantly improve the JORCResources in tonnes and grade with additional targets awaiting furtherexploration and test-work including drilling which will allow forgreater modelling continuity and increased confidence level of thecurrent reported “inferred resource” category to Indicated and/orMeasured categories under NI 43-101 reportingstandards.
Werner Lake - Ontario,Canada
Global Energy Metals has been notifiedby Marquee Resources Ltd (“Marquee”), that following the recentrenewed interest in the battery metals sector, that it has commenced areview of the highly prospective Werner LakeCobalt-Copper Sulphide Project . Marquee has a 30% interest in the project.
In order to maximise the value andappeal of the project, Marquee will look to re-engage with ZhejiangMeidu Haichuang Lithium Battery Technology Co., Ltd (Chinahitrans) whopreviously signed a non-binding cobalt-copper off-take agreement onMarquee’s interest in the Werner Lake Project.
The Werner Lake project has a NI 43-101Mineral Resource estimate with an indicated resource of 57.9kt @ 0.51%Co & 0.25% Cu at a 0.25% Co Cut-off for 653,000 lbs of containedcobalt and inferred resource of 6.3t @ 0.48% Co & 0.14% Cu at a0.25% Co Cut-off for 67,000 lbs of contained cobalt.
Qualified Person
Mr. Paul Sarjeant, P. Geo. and Director, is thequalified person for this release as defined by National Instrument43-101 - Standards of Disclosure for Mineral Projects and has reviewedand verified the technical information contained herein.
Global Energy MetalsCorporation
(TSXV:GEMC | OTC: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 mineralprojects alongside key strategic partners. The Company holds 100%of the Millennium Cobalt Project and two neighbouring discovery stageexploration-stage cobalt assets in Mount Isa, Australia positioningit as a leading cobalt-copper explorer and developer in thefamed mining district in Queensland, Australia. The Company holds an85% interest in two battery mineral projects, the Lovelock CobaltMine and Treasure Box Project, located on the doorstep of theworld’s largest lithium-ion battery production plant, GigaNevadathat Tesla Motors Ltd. and partner Panasonic Corp. have built inNevada, USA. Additionally,the Company holds a 70% interest in the past-producing Werner LakeCobalt Mine 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
www.globalenergymetals.com
Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals
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 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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