GBLEF - Global Energy Metals Provides Updates on Potential for Larger System with Monument Peak Copper-Silver-Gold Project in Idaho USA
(TheNewswire)
Vancouver, BC - TheNewswire - September 9, 2021 - Global Energy MetalsCorporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the“Company” and/or “GEMC ”), a company involved in investment exposure to the batterymetals supply chain, is pleased to report that it has completed afirst phase program of soil geochemical sampling and geologicalmapping at the Monument Peak copper-silver-gold project in Idaho,United States.
The phased exploration program conductedby Dahrouge Geological Consulting USA (DGC) included the collection of557 soil samples and 13 rock samples (see Figure 1).
During the course of explorationactivities at Monument Peak, crews identified several new areas ofvisible copper mineralization (see Figures). The strongly mineralizedsamples contained variable amounts of chalcopyrite and copper oxideminerals, consistent with the known Cu-Ag/Au mineralization on theproperty. All soil and rock samples were shipped to Actlabs inKamloops, BC for multielement analysis (including silver) by aquaregia digestion with ICP-OES finish (code 1E3) for rock samples andICP-MS finish (code UT1) for soil samples and gold analysis by fireassay with AA finish (package 1A2B-30).
Upon receipt of analytical results, theCompany will re-evaluate all historical and recent exploration data,as it appears the mineralized system may be more extensive thanpreviously thought. Results will be released as they becomeavailable.
Timothy Strong,Project Development Manager commented:
“ We’re excited by the initial findingsfrom the first phase of our summer work program at Monument Peak.Initial prospecting work completed by Dahrouge Geological suggestthere is a much larger footprint to the polymetallic mineralizationknown at the property, than previous exploration data suggested. Assuch we’re very pleased by the observation and discovery of severaladditional copper, silver and gold target areas. ”
Phase 1 Highlights ofthe Soil Sampling and Geological ReconnaissanceSampling:
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- Soil sampling program resulted in 557soil samples and 13 rock samples,
- Identified historical pit in the southof the property approximately 200 m due east from the previous knownshowings which had abundant copper oxide staining and quartzveining,
- Identified another historicalmineralized trench located along strike between the central andsouthern showings with abundant quartz veining and copper oxide,
- Documented and sampled historicaldumps, workings, and additional outcrops, resulting in the conclusionthat the system could be continuous over its entire strike length,and
- The Company is re-evaluating thesystem, which it believes could be larger than previouslyunderstood.
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Figure 1. MonumentPeak location map highlighting rock and soil samplescollected.
Figure 2. Copperoxide staining on rocks located in a newly discovered
historical pit inthe south of the property.
Figure 3. Rock samplefrom outcrop within historical mineralized trench located along strikebetween the central and southern showings.
Figure 4. Rock samplefrom historical mineralized trench located along strike between thecentral and southern showings.
Data collected during the summer/fall2021 exploration programs at Monument Peak will be utilized to preparean independent technical report and be used for the generation ofdrill targeting / permitting.
A second phase of exploration atMonument Peak consisting of a drone magnetics and photogrammetry isscheduled for later in the month. Details of the Phase 2 program areoutlined below.
Phase 2 - DroneMagnetics Survey and Photogrammetry - Scheduled
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- Conduct drone magnetics survey overthe entire Monument Peak Property:
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- 130 line km at 50 m spacing,and
- Data processing using Oasis Montajsoftware.
- Conduct high resolution photogrammetrysurvey over the entire Monument Peak Property
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- 95 line km, and
- DSM generation and orthoimage usingDJI terra.
Monument PeakCopper-Silver-Gold Project, Idaho, USA
The Monument Peak Project consists of 69claims covering approximately 1,380 acres (~558.5 hectares). It isan exploration-staged, high-grade, copper-silver-gold project, whichcovers two small past producing copper mines: Jackson and HungryHill. Sporadic development and production in the area occurredprimarily during the early 1900’s, with some additional developmentin the 1950’s. The most recent exploration occurred during the1970’s and 1980’s.
Mitchel (1972) described the Cu-Ag-Aumineralization at Monument as having “unusual continuity” inassociation with structural zones within sericitic quartzites, whichcan be traced along 3,200 m strike that vary from 3 to 6 mwidth.
The mineralization is described (Lavery,1988) as “syngenetic and fits a volcanic-hosted (massive) sulfidemodel … where … the copper-mineralized section might be as much as175 feet thick”.
A previous program undertaken by DGC in2020, included the collection of 56 rock samples to confirm historicalresults, as announced in a previous news releasedated April 27, 2021 . The field work confirmed both the presence of significantCu, Ag mineralization, but also the presence of significant goldmineralization. The samples were collected from three main areasover 3,200 m strike and from the separate Hungry Hill Mine; thearithmetic average of all samples was 2.34% Cu, 57.6 g/t Ag, and 0.68g/t Au.
Project highlights follow (from North toSouth):
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- North Showing: grab samples to 0.57%Cu, 248 g/t Ag, 57.5 g/t Au;
- Jackson Adit: grab samples to 13.6%Cu, 2,589 g/t Ag, 17.1 g/t Au;
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- Chip Sample: 3.0 m of 7.03% Cu, 109g/t Ag
- Chip Sample: 1.8 m of 3.11% Cu, 101g/t Ag
- Chip Sample: 6.1 m of 4.32% Cu, 99g/t Ag
- Anderson Occurrence: grab samples to3.9% Cu, 89 g/t Ag, 2.5 g/t Au.
- Hungry Hill Mine (2 km east of maintrend): 2.4 m of 17% Cu.
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Field crews visited four known mineraloccurrences (Jackson/Baker, Hungry Hill Mine, Anderson and NorthShowing) and confirmed the high-grade Cu-Ag (+/- Au) mineralization atall locations. Outcrop is sparse throughout the property andcommonly only exposed by historical workings. Observed mineralizationstyle and grade is similar across all showings, with notably highercopper grades (up to 20.9% Cu) at Hungry Hill, while the North Showinghad the highest gold values (up to 11.4 g/t Au). High grades ofsilver (greater than 80 g/t Ag) were associated with all mineraloccurrences.
QualifiedPerson
Mr. Paul Sarjeant, P. Geo., is thequalified person for this release as defined by National Instrument43-101 - Standards of Disclosure for Mineral Projects.
Global Energy MetalsCorporation
(TSXV:GEMC | OTC: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 believe thethe time to be part of this electrification movement.
For FurtherInformation:
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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.
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