GEMC:CC - Global Energy Metals Reports Commencement of Drilling at the Rana Nickel-Copper-Cobalt Project in Norway
(TheNewswire)
Vancouver, BC - TheNewswire - July 5,2023 - Global Energy 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 cleanenergy, is pleased to report that its strategic partner, Kingsrose MiningLimited (“Kingsrose”), has commenced core drilling at the Rånanickel-copper-cobalt sulphide project in Nordland County, Norway (Figure 1).
Figure 1: Råna geology, prospectsand geophysical survey areas
A total of 5,000 metres is planned with the aim oftesting along strike from known mineralisation, targeting highly conductive zonesidentified in geophysical surveys which have the potential to host massive sulphide nickel-copper-cobaltmineralisation and facilitating future downhole electromagneticgeophysical surveys to generate additional targets.
Highlights
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Drilling has commenced at the Bruvann Mine area,initially targeting along strike and down dip extensions tomineralisation inferred from interpretation of historical drillingresults.
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The ground-based magnetotelluric (MT) and fixed loopelectromagnetic (FLEM) surveys at Bruvann have been completed and 3Ddata inversions are being interpreted to generate further drilltargets.
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Newexco consultants in Australia have been engaged toassist with interpretation of the FLEM and MT data given theirexperience with similar nickel sulphide exploration projects,including the Nova Bollinger project in the Albany-Fraser Orogen,Western Australia.
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A ground-based MT survey is in progress at theRånbogen prospect to generate drill targets where multipleoutcropping zones of sulphide mineralisation returned greater than 1%nickel in rock-chip sampling (see ASX announcement dated 18 January2023), for drill testing later in the drill program.
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Airborne Magnetotelluric geophysical data acquisitionis complete and data inversion is in progress. These results will helpguide further exploration over the rest of the intrusion.
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A detailed drone-based magnetic survey has commencedover the Bruvann and Rånbogen prospect areas.
Mitchell Smith, CEO and Director ofGlobal Energy commented:
“I am pleased that our strategy ofattracting well financed, technically skilled partners on a projectlevel is once again affording our shareholders exploration upside onan important battery metals project at such a pivotal time as theworld transitions towards new energy systems requiring key metals suchas nickel, copper and cobalt that make up the Råna project. We’reexcited to see Råna drilled by Kingsrose and look forward toreporting findings in the near future.”
Andrew Tunningley, Kingsrose Head ofExploration, commented:
“ We have rapidly acquired an extensive andmultifaceted geophysical dataset which is a key component in unlockingthe exploration potential at Råna. With the drill rig now on site ourpriority is to test along strike from known mineralisation at theBruvann Mine whilst we generate additional drill targets from thegeophysical data. The entire basal part of the intrusion is consideredprospective for discrete zones of massive sulphide mineralisation, andthe combined geophysics and drilling are a key step in understandingwhere mineralisation may be concentrated. ”
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 the acquisition and exploration of critical mineral depositshaving Tier-1 potential, that has resulted in the acquisition of, orjoint venture into, the Råna nickel-copper-cobalt, Penikat PGE andPorsanger PGE-nickel-copper projects in Finland and Norway.Additionally, Kingsrose has been selected for the first cohort of theBHP Xplor exploration accelerator program which commenced in January2023.
QualifiedPerson
Mr. Paul Sarjeant, P. Geo., a Director andshareholder is the qualified person for this release as defined byNational Instrument 43-101 - Standards of Disclosure for MineralProjects.
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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Global Energy Metals Corporation
(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 believesNow is the Time to be part of this electrificationmovement.
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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