GEMC:CC - Global Energy Metals Provides Update on Partner-Funded Drill Program and Exploration Activities at the Rana Nickel Project in Norway
(TheNewswire)
Vancouver, BC - TheNewswire - June 1, 2023 - GlobalEnergy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1)(“Global Energy Metals”, the “Company” and/or “GEMC”), amulti-jurisdictional, multi-commodity critical mineral exploration anddevelopment company focused on growth-oriented battery metal projectssupporting the global transition to clean energy, is pleased toannounce that its strategic partner,
(“Kingsrose”), has provided anupdate on exploration activities at the brownfield
RånaNickel-Copper-Cobalt (Ni-Cu-Co) sulphide project
(the “Project”) in Nordland County,Norway. Drilling is due to commence in early July 2023 and will targetzones of potential massive sulphide nickel-copper-cobaltmineralisation being generated from ongoing mapping and geophysicalsurveys (Figure 1).
Figure 1: Råna geology, prospects andgeophysical survey areas
Highlights
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All required notifications have been submitted, meaningthat drilling can commence at Råna.
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Rig mobilisation is planned for the last week of June2023, to commence a 5,000 metre drill program testing targetsgenerated from ongoing mapping and geophysical surveys.
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The previously announced ground-based, fixed loopelectromagnetic (FLEM) survey has been completed. Data processing andinterpretation is in progress (Refer to news release dated April20, 2023 ).
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A Magnetotelluric (MT) geophysical program is currentlyunderway, comprising of:
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a detailed ground-based MT survey targeting the Bruvannand Rånbogen prospect areas, using a nominal 200 metre stationspacing, with delivery of final 3D inversions anticipated in August2023;
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an intrusion-wide heli-borne MT survey (Mobile MT)totalling 815 line kilometres using a 200 metre line spacing hascommenced and will take approximately 2 weeks to complete, with finaldata delivery anticipated by the end of June 2023.
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Three additional exploration rights totalling 30 squarekilometres have been acquired at the Sørfjorden project, located 30kilometres to the south of Råna covering an unexploredmafic-ultramafic intrusion with geological characteristics similar toRåna. A Mobile MT survey will be flown to help model the intrusionand explore for conductive bodies which may represent massive sulphideexploration targets.
Mitchell Smith, President and CEO commented:
“ We are pleasedto see our partner, Kingsrose Mining, commence this drilling phase ofexploration at the Råna project. Having multiple active explorationprograms underway and/or planned, Global Energy’s generativebusiness continues to evolve by leveraging properties that haveattracted significant partner-funded exploration and royalty creationwhile in turn are establishing long-term value for Global Energy’sshareholders. The diversified nature and partner-based, non-dilutiveapproach taken with our multi-commodity portfolio provides ourshareholders with multiple opportunities for discovery in proven,top-tier mining jurisdictions. All at a time when there are multiplecatalysts and milestones to come, with significant progress on allfronts especially with the recent 100% consolidation of theNevada-based Lovelock Mine and Treasure Box projects, two highlyprospective nickel, copper and cobalt assets in the UnitedStates. ”
Fabian Baker, Kingsrose Managing Director of Kingsrose,commented:
“ Since acquiringan interest in the Råna project in January 2023 our team has focusedon accelerating the drill-readiness of the project, includingpermitting, stakeholder engagement, geophysical surveys, geologicalmapping and interpretation. We have identified numerous areas ofmineralisation that are considered to be open and exploration at anearly stage where drill targets will be refined through the ongoinggeophysical programmes. The culmination of this work will becommencement of drilling on the project in July 2023. We are excitedto keep shareholders updated as we explore the potential for massivesulphide nickel-copper-cobalt mineralisation, on a project withexcellent infrastructure and located near to a deep sea port withinEurope. ”
Kingsrose Mining Limited
Kingsrose is a leading sustainability-conscious andtechnically proficient mineral exploration company listed on the ASX.The Company has a discovery-focused strategy, targeting theacquisition and exploration of critical mineral deposits having Tier-1potential, that has resulted in the acquisition of, or joint ventureinto, the Råna nickel-copper-cobalt, Penikat PGE and PorsangerPGE-nickel-copper projects in Finland and Norway. Additionally,Kingsrose has been selected for the first cohort of the BHP Xplorexploration accelerator program which commenced in January2023.
Qualified Person
Mr. Paul Sarjeant, P. Geo., a Director and shareholderis the qualified person for this release as defined by NationalInstrument 43-101 - Standards of Disclosure for MineralProjects.
For Further Information:
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 MetalsCorporation
(TSXV:GEMC | OTCQB:GBLEF |FSE:5GE1)
GlobalEnergy Metals Corp. offers investment exposure to the growingrechargeable battery and electric vehicle market by building adiversified global portfolio of exploration and growth-stage batterymineral assets.
Global Energy Metals recognizes that theproliferation and growth of the electrified economy in the comingdecades is underpinned by the availability of battery metals,including cobalt, nickel, copper, lithium and other raw materials. Tobe part of the solution and respond to this electrification movement,Global Energy Metals has taken a ‘consolidate, partner and invest’approach and in doing so have assembled and are advancing a portfolioof strategically significant investments in battery metalresources.
As demonstrated with the Company’scurrent 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 to these criticalminerals powering the eMobility revolution is agenerational investment opportunity. Global Energy Metals believesNow is the Time to be part of this electrificationmovement.
Cautionary Statementon Forward-Looking Information:
Certain information in this release mayconstitute forward-looking statements under applicable securities lawsand necessarily involve risks associated with regulatory approvals andtimelines. Although Global Energy Metals believes the expectationsexpressed in such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performanceand actual results or developments may differ materially from those inthe forward-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 besignificantly adversely affected by the effects of a widespread globaloutbreak of a contagious disease, including the recent outbreak ofillness caused by COVID-19. It is not possible to accurately predictthe impact COVID-19 will have on operations and the ability of othersto meet their obligations, including uncertainties relating to theultimate geographic spread of the virus, the severity of the disease,the duration of the outbreak, and the length of travel and quarantinerestrictions imposed by governments of affected countries. Inaddition, a significant outbreak of 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 Energyand the risks and challenges of their businesses, investors shouldreview the filings that are available at www.sedar.com.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
We seek safe harbour.
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