(TheNewswire)
Vancouver, BC - TheNewswire -November 28, 2022 - GlobalEnergy Metals Corporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the “Company” and/or“GEMC”) , a company involved in investmentexposure to the battery metals supply chain, is pleased to provide akey update from its Nevada, USA based Lovelockproject (“Lovelock” and/or the“Project”).
Highlights
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Initial AI assessment resulted indiscovery of several new areas.
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Successfully identified strongnickel, cobalt, copper and silver showings within the propertyboundaries.
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There is evidence for othermineralized zones outside the property boundary.
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Sampled target areas producedpromising results with new areas identified.
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Results of this initial field workat the Project are encouraging and additional work iswarranted.
Figure 1: Historical workingincluding adit and small pit located along the contact between thewhite HMC diorite and the brown, iron-oxidized HMC gabbro.
The 2022 field sampling of the Lovelock Property wascompleted by a crew of two geologists, with 40 samples collected over3 days, between September 11 to September 13, 2022. (Refer toFigures 1, 2 and 3).
A total of 40 samples were collected, with the focusbeing on target areas previously identified by Earthlabs Inc.,formerly GoldSpot Discoveries Corp. (TSX-V:SPOT, OTCQX:SPOFF)(“Earthlabs“ and/or “Goldspot”) using various geophysical,geological, and remote sensing data.
The primary objectives of the program were to confirmlocations of historical mining/ exploration, perform an initialassessment of the proposed lithologies and structures on the property,and to determine target areas for future mineral exploration.Highlighted analytical results from 8 different locations arepresented below in Table 1.
Table 1. Lovelock 2022 SamplingHighlights
The results of this initial field work at the LovelockProperty are encouraging and additional exploration is recommended.Roughly half of the sampled Goldspot target areas produced promisingresults. The next phase of work should include detailed geologic andstructural mapping over the Property’s extent, and a systematic rockand soil sampling program across more focused target areas delineatedduring this program and results derived during geologic and structuralmapping.
The 2022 sampling of the GEMC Lovelock Property wassuccessful in identifying existing nickel, cobalt, copper and silvershowings within the property boundaries, as well as identifyingpotential mineralized trends along proposed faults and lithologiccontacts. The fieldwork focused on identifying mineralized host rocksand delineating potential mineralized structures. Although fieldworkproduced some strong results, a large part of the property remains tobe prospected.
Figure 2. Project Geology withGoldspot Target Areas and 2022 Sample
Locations Highlighted
Figure 3. 2022 Rock AssaysHighlighting Strong Nickel, Copper and Cobalt Values
It is recommended that future field work includedetailed geologic mapping and accurate structural measurements of thisproposed structure, with further sampling focused along the strikelength of the faulting in that area.
It is recommended that future work continue todelineate the extent of mineralization along structures within the HMCintrusives. Areas with notable oxidation and strong alteration shouldbe carefully mapped, and the ore-fluid containing structuresidentified. Sampling along the strike length of these structuresthroughout the Property would be the next phase of field explorationand sampling.
The northeastern extent of the property, especiallyalong the strike length of the mineralized fault zone, will need to bevisited and sampled.
There is evidence for other mineralized zones outsidethe Property boundary. Most of the work conducted in the 2022 fieldprogram was focused on historical workings and on the delineatedstructure-contact targets identified by Goldspot. It is recommendedadditional mapping and prospecting is conductedwithin and beyond the limits of the current claim boundary alongstrike of the main structure, in order to better understand thecontrols on mineralization. Once surface extents and detailed mappingare completed and assessed, the next phase would be to develop a drillprogram to test the depth of mineralization at the unconformitycontact, explore for mineralization not exposed at surface, anddevelop a structural framework of the mineralized faultsystems.
QualifiedPerson
Mr. Paul Sarjeant, P.Geo., is the qualified person for this release as defined by NationalInstrument 43-101 - Standards of Disclosure for MineralProjects.
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.
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 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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