GEMC:CC - Global Energy Metals Provides Update On Monument Peak Copper Silver Gold Project In Idaho; Outlines Summer Exploration Strategy
(TheNewswire)
Vancouver, BC /TheNewswire / April 11, 2024 / Global Energy Metals CorporationTSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the“Company” and/or “GEMC”) , a multi-jurisdictional, multi-commoditycritical mineral exploration, development and project generatingcompany focused on growth-oriented projects supporting the globaltransition to clean energy, announces an exploration strategy forsummer 2024 at its Monument Peak Copper-Silver-GoldProject (the “Project”and/or “Monument Peak”) in Lemhi County, Idaho, United States. The project is located east of Salmon Idaho, along the Montanaborder.
Highlights
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Monument Peak, consisting of 84claims, is an exploration-staged, high-grade, copper-silver-goldproject in Idaho, a state that consistently ranks as a top miningjurisdiction by the Fraser Institute ,
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Following a reinterpretation of bothhistorical and more recent data, including field work conducted byDahrouge Geological Consulting USA Ltd. (“DGC”), a new geologicalmodel has been proposed and warrants further investigation,
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A past exploration field programconducted by DGC resulted in rock samples that ranged up to 5.61% Cu,175 g/t Ag, 17.6 g/t Au; the samples returned an arithmetic average of2.18% Cu, 63 g/t Ag, 3.65 g/t Au,
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Spring/Summer exploration plansdesigned to refine our exploration targets and further evaluate theeconomic potential of the identified mineral zones,
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Updated project specificpresentation filed on the Monument Peak landingpage of theCompany’s website.
Mitchell Smith, CEO and Directorcommented:
“This is a very compelling projectin Idaho, an extremely sought after jurisdiction for mining in generalbut also for copper, silver and gold, all of which are dominant in themineralization identified at site. With this exploration plan inhand we, in collaboration with Dahrouge Geological are now assessingvarious options, including potential strategic partnerships, toconduct the work necessary to unlock Monument Peak’s fullpotential.”
Monument Peak, consisting of 84 claims coveringapproximately 1,708 acres (~691 hectares), is an exploration-staged,high-grade, copper-silver-gold project, which includes two smallpast-producing copper mines: Jackson and Hungry Hill. Sporadicexploration, development and production occurred in the region,primarily during the early 1900’s, with some additional developmentin the 1950’s. The most recent exploration occurred during the1970’s and 1980’s.
The Cu-Ag +/- Au mineralization at Monument Peak wasdescribed (Mitchel, 1972) as having “unusual continuity” inassociation with structural zones hosted by sericitic quartzites,which can be traced along a 3,200 m strikelength. Mineralized width generally ranges from 3 to 6 m but canreach up to 50 m, as described by Lavery (1988). Metamorphosed hostquartzites are Proterozoic (1.47 - 1.37 Ma) of the Gunsight Formationand are underlain by the Yellow Lake Formation.
Reinterpretationof Monument Peak
Following a reinterpretation of both historical andmore recent data, including field work conducted by DahrougeGeological Consulting USA Ltd. (“DGC”), a new geological model hasbeen proposed and warrants further investigation. Of particularinterest is that similar styled copper-silver mineralization isobserved within northern Montana, near the Montana – Idaho border,termed the western Montana Copper Belt. This belt is host to severallarge sediment-hosted stratabound copper-silver deposits withinquartzites of the Proterozoic (1.47 – 1.40 Ma) Revett Formation. Three significant deposits have been documented - Rock Creek,Montanore and Spar Lake:
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Rock Creek contains an inferred resource [2] of100 Mtof 0.7% Cu and 1.5 oz/ton Ag
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Montanore contains an inferred resource [2] of 112 Mtof 0.7% Cu and 1.6 oz/ton Ag
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Spar Lake contains [1] 81 Mt of 0.63% Cu ( Figure1
Figure 1 - Mineral zonation along the curving long axisof the Spar Lake sandstone copper deposit, Montana, United States,from Hayes et al., 2010.
Note: The resource estimates andcomparisons provided herein, including those related to the RockCreek, Montanore, and Spar Lake deposits, are based on historicalexploration data and third-party reports. These are presented forinformational purposes only and should not be interpreted asguarantees of similar outcomes for Monument Peak. Investors should beaware that mineral exploration is a high-risk venture, and there is noassurance that these early-stage findings will lead to the discoveryof an economically viable deposit. The Company has not independentlyverified historical data and comparisons and, as such, should not berelied upon as a predictor of future performance.
Hayes et al. (2010) describes sediment-hostedstratabound copper deposits as characterized by their coppermineralization, exhibiting extensive lateral zonation fromchalcopyrite through to chalcocite and bornite within sedimentary ormetasedimentary hosts. These deposits are cate gorized into three types based on host lithology and reducedmineralization environment responsible for precipitating coppersulfides from oxidized sedimentary brines:
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1) Reduced-facies type inorganic-rich shale and mudstone
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2) Sandstone-type inpetroleum-associated sandstone/quartzite
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3) Red-bed type in fluvialsandstone with carbonized plant matter
The Revett, or sandstone subtype, is associated withnearshore marine and beach sandstones and fluvial and aeolianenvironments. These deposits are typically situated within the topsetbeds of deltaic sedimentary packages, characterized by theirgeological setting that facilitate the stratiform distribution ofcopper minerals. The Revett subtype is characterized by diffusereductant distribution in the sedimentary matrix, which is crucial forthe mineralization process.
The dimensions and mineral content of sediment-hostedstratabound copper deposits vary by type, with reduced-facies andsandstone deposits achieving notable copper grades and tonnage incontrast to red-bed types. Morphologically, these deposits range fromsheet-like to lens-shaped bodies, covering vast lateral extents ofmineralization ( Figure 1 ). These deposits alsostand out as vital sources of gold and silver, with their distinctmineral zonation setting them apart from other sedimentary copperdeposits.
A previous explorationprogram at Monument Peak undertakenby DGC in 2021, included the collection of 557 soil and 13 rocksamples to assess mineralized strike potential.
Project highlights follow (from North to South):
Highlights of Soil Sampling andGeological Reconnaissance ( Figure2 ):
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Rock samples ranged up to 5.61% Cu, 175 g/t Ag, 17.6g/t Au; the samples returned an arithmetic average of 2.18% Cu, 63 g/tAg, 3.65 g/t Au,
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Soil samples show strong geochemical (Cu, Ag, Au)anomalies along the known mineralized trend, which extends for 3,200+metres,
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A mineralized pit in the south part of the property wasidentified 200 metres due east of previous knownmineralization,
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A newly identified historical trench between the southand central showings confirms continuity of mineralization,and
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Workings, outcrops, and soil geochemistry imply themineralized system could be continuous over its entire known strikelength of 3,200+ metres.
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Figure 2 - Monument Peak location map highlighting rockand soil samples collected during 2021 exploration.
Proposed SummerExploration Strategy
Given the similarities between the style and age of thecopper and silver mineralization within the Western Montana CopperBelt and the Monument Peak area, the Company intends to confirm thegrades, thickness and style of mineralization at Monument Peak, inadvance of drill testing. The spring/summer exploration will includecomprehensive surface mapping and the collection of additional rocksamples guided by the insights gained from the previousreconnaissance. This strategic approach is designed to refineexploration targets and further evaluate the economic potential of theidentified mineral zones.
For more information on Monument Peak, please refer toa recently updated project presentation filed on the Company’swebsite:https://globalenergymetals.com/portfolio/monument-peak/
References
[1] Hayes, T.S., Cox, D.P., Piatak,N.M., & Seal, R.R. II. (2010). Sediment-Hosted Stratabound CopperDeposit Model. In Mineral Deposit Models for Resource Assessment(Scientific Investigations Report 2010–5070–M, Chapter M). U.S.Department of the Interior, U.S. Geological Survey.
[2] Hecla Mining Company. (2023).Reserves and Resources – 12/31/2023.
[3] Lavery, N.G. (1988). Bolton LodeGold Prospect, Lemhi County, Idaho. Minerals Exploration &Development.
4] Mitchel, M.J. (1972). PreliminaryGeologic Report on the Geerston Creek Copper Claims in Salmon, Idaho.Western Exploration.
QualifiedPerson
Mr. Paul Sarjeant, P. Geo., is the qualified person for this releaseas defined by National Instrument 43-101 - Standards of Disclosure forMineral Projects. He is a shareholder and Director of theCompany.
ForFurther 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 MetalsCorporation
(TSXV:GEMC |OTCQB:GBLEF | FSE:5GE1)
Global Energy MetalsCorp. offers investment exposure to the growing rechargeable batteryand electric vehicle market by building a diversified global portfolioof exploration and growth-stage battery mineral assets.
Global Energy Metals recognizes that the proliferation and growth ofthe electrified economy in the coming decades is underpinned by theavailability of battery metals, including cobalt, nickel, copper,lithium and other raw materials. To be part of the solution andrespond to this electrification movement, Global Energy Metals hastaken a ‘consolidate, partner and invest’ approach and in doing sohave assembled and are advancing a portfolio of strategicallysignificant investments in battery metal resources.
As demonstrated with the Company’s current copper, nickel andcobalt projects in Canada, Australia, Norway and the United States,GEMC is investing-in, exploring and developing prospective, scaleableassets in established mining and processing jurisdictions in closeproximity to end-use markets. Global Energy Metals is targetingprojects with low logistics and processing risks, so that they can befast tracked to enter the supply chain in this cycle. The Companyis also collaborating with industry peers to strengthen its exposureto these critical commodities and the associated technologies requiredfor a cleaner future.
Securing exposure to these critical minerals powering the eMobilityrevolution is a generational investment opportunity. Global EnergyMetals believes Now is the Time to be part of this electrificationmovement.
Cautionary Statement on Forward-LookingInformation:
Certain information in this release may constitute forward-lookingstatements under applicable securities laws and necessarily involverisks associated with regulatory approvals and timelines. AlthoughGlobal Energy Metals believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those in theforward-looking statements. Except as required by law, the Companyundertakes no obligation to update these forward-looking statements inthe event that management’s beliefs, estimates or opinions, or otherfactors, should change.
GEMC’s operations could be significantly adversely affected by theeffects of a widespread global outbreak of a contagious disease,including the recent outbreak of illness caused by COVID-19. It is notpossible to accurately predict the impact COVID-19 will have onoperations and the ability of others to meet their obligations,including uncertainties relating to the ultimate geographic spread ofthe virus, the severity of the disease, the duration of the outbreak,and the length of travel and quarantine restrictions imposed bygovernments of affected countries. In addition, a significant outbreakof contagious diseases in the human population could result in awidespread health crisis that could adversely affect the economies andfinancial markets of many countries, resulting in an economic downturnthat could further affect operations and the ability to finance itsoperations.
For more information on Global Energy and the risks and challengesof their businesses, investors should review the filings that areavailable at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider(as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of thisrelease.
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