GBLEF - Global Energy Metals Receives Approval to Drill the Treasure Box Copper-Cobalt Project in Nevada
(TheNewswire)
Vancouver, BC - TheNewswire - February 9, 2022 - GlobalEnergy Metals Corporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the “Company” and/or“GEMC ”), a company involvedin investment exposure to the battery metals supply chain, is pleasedto announce that it has received approval from the US Bureau of LandManagement (the “BLM”) for its proposed exploration and initialdrill plan under a Notice of Intent (“NOI”) at the Treasure BoxProject (“Treasure Box” and/or the “Project”) in ChurchillCounty, Nevada. Treasure Box is considered to be highly prospectivewith supergene-enriched iron oxide copper-gold (“IOCG”) stylemineralization that includes the potential for discovery of high-gradecopper and cobalt.
Figure 1. Treasure Box Drill HoleLocation Map, Churchill County, NV
Mitchell Smith, President and CEOstated:
“The approval for the drill permitcontinues to demonstrate the support by the BLM and the U.S.government for the exploration and development of domestic projectsthat have the potential to become new sources of battery andtechnology enabling metals. This proposed drill program will targethigh impact exploration targets where past indicators point to thepossibility of high-grade copper and cobaltmineralization."
The proposed initial drilling program under theapproved BLM NOI at the Treasure Box Mine includes up to thirteen (13)vertical drill holes from thirteen (13) different locations (seeFigure 1). Planned drill hole lengths range from 350 feet (107 metres)to 500 feet (152 metres). Total drilling is anticipated to be 5,850feet (1,784 meters), with a minimum drilling length of three (3) drillholes totaling 1,350 feet (412 metres). Depending on findings,individ ual drill hole lengths could be extendedby 30 to 50 feet (10 to 15 metres) as determined by the company’son-site representative.
The targeted prospects have beenidentified by Global Energy Metals through a systematic explorationprogram over the past several months that has included an airbornemagnetic survey, reinterpretation of historical Induced Polarization(IP) data, detailed mapping and desktop review of historical dataincluding past drilling.
GEMC announced the engagementof SJ Geophysics to allow for theframing of a comprehensive structural and geological map that willvector fieldwork towards those areas of highest merit for additionalexploration and target high-priority areas for future drillinginitiatives at the property.
The Company is in discussions with several qualifiedand experienced drilling companies in anticipation of engaging them toprovide drilling services for the Phase 1 drilling campaign of thecopper-cobalt targets on the multi-claim block in the near future. As drill contractors are constrained the company will provide anupdate when a contractor has been engaged.
TreasureBox:
Treasure Box hosts mine workings fromlimited copper production, which occurred until early into the 20thcentury. A historical diamond drill hole (circa 1910) drilled at theTreasure Box by the Boyer-Nevada Copper Company reportedly intersected1.52% copper over 85 feet (25.9 metres) with mineralization beginningat surface. A reverse circulation hole drilled on the Treasure Box byUtah International in 1976 returned 1.55% copper over 40 feet (12.2metres) from a depth of 85 to 125 feet (25.9 to 38.1 metres), and thehole was stopped in chalcopyrite mineralization. The core Treasure Boxclaims were held continuously for over 20 years by a private companybut were relinquished in September 2017, leading to their acquisitionby Nevada Sunrise and subsequently by GEMC.
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 |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 believe thethe time to be part of this electrification movement.
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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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 crisis thatcould adversely affect the economies and financial markets of manycountries, resulting in an economic downturn that could further affectoperations and the ability to finance its operations.
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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