(TheNewswire)
Vancouver, BC / TheNewswire / March 23, 2022 / Global Energy MetalsCorporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the“Company” and/or “GEMC ”), a company involved in the battery metals supply chain, ispleased to announce that it has increased its land position at the Monument Peakcopper-silver-gold project (the “Project” and/or “Monument Peak”) in LemhiCounty, Idaho, United States by 328 acres (133 hectares), or by nearly 25%, to 1708acres (691 hectares) through low-cost, organic claim staking. Thesenew claims are in close proximity to the existing claims as seen inFigure 1. The expanded land position incorporates prospectivecopper-gold-silver targets identified during the 2021 fieldprogram.
The Company is also pleased to reportthat having completed a geological field work program at Monument Peakthat it has commenced the preparation of the Monument Peak NI 43-101technical report (the “Report”).
Phase 1 Highlights ofSoil Sampling and Geological Reconnaissance:
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In total 557 soil samples and 13 rocksamples collected,
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Rock samples ranged up to 5.61% Cu, 175g/t Ag, 17.6 g/t Au; the samples returned an arithmetic average of2.18% Cu, 63 g/t Ag, 3.65 g/t Au,
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Soil samples show strong geochemical(Cu, Ag, Au) anomalies along the known mineralized trend, whichextends for 3,200+ metres,
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A mineralized pit in the south part ofthe property was identified 200 metres due east of previous knownmineralization,
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A newly identified historical trenchbetween the south and central showings confirms continuity ofmineralization, and
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Workings, outcrops, and soilgeochemistry imply the mineralized system could be continuous over itsentire known strike length of 3,200+ metres.
A site visit by the author was completedduring the fall of 2021, while the field work was ongoing. It isworth noting that this NI 43-101, in addition to being a strategictechnical document, will also be an important marketing document forthe Company. The Report will look at past programs, field workconducted more recently and will focus on the tremendous upside,compelling targets and present a new geological model for the Cu-Ag-Aumineralization at Monument Peak. Refer to news release dated September9, 2021: Global Energy MetalsProvides Updates on Potential for Larger System with Monument PeakCopper-Silver-Gold Project in Idaho, USA .
Figure 1. Monument Peak claims maphighlighting recently acquired prospective ground inIdaho.
Exploration has advanced sufficiently toallow for the identification of multiple drill targets, which will beconfirmed and released in the very near future. Given the southernportion of the project is both road accessible and within lands of theBureau of Land Management (BLM), it is anticipated that availabledrill targets would be readily accessible.
As announced at the end of 2021, theexploration program, conducted by Dahrouge Geological Consulting USA(“DGC”), included the collection of 557 soil samples and 13 rocksamples (see Figure 1).
The exploration identified several newareas of visible copper and silver/gold mineralization (see Figures2-4). The strongly mineralized samples contained variable amounts ofchalcopyrite and copper oxide minerals, consistent with the knownCu-Ag-Au mineralization on the property.
Figure 2. MonumentPeak location map highlighting rock and soil samplescollected.
The 2021 rock samples demonstratedstrong precious metal enrichment; 12 of the 13 rock (grab) samplesreturned from 7.6 to 175 g/t Ag and 0.16 to 17.6 g/t Au.
Table 1. 2021 Rock SampleResults
SampleID | Cu (%) | Ag(g/tonne) | Au(g/tonne) |
151401 | 5.61 | 42.8 | 0.955 |
151402 | 2.76 | 20.1 | 0.535 |
151403 | 0.91 | 93.0 | 1.03 |
151404 | 0.61 | 48.2 | 2.44 |
151405 | - | 1.0 | - |
151406 | 2.51 | 7.6 | 1.43 |
151407 | 0.32 | 47.5 | 1.01 |
151408 | 4.63 | 175 | 17.4 |
151409 | 3.59 | 112 | 1.63 |
151410 | 4.93 | 87.8 | 17.6 |
151411 | 1.40 | 29.9 | 0.626 |
151412 | 0.44 | 20.3 | 0.161 |
151413 | 0.69 | 139 | 2.72 |
Soil and rock samples were shipped toActlabs in Kamploops, BC for multi element analysis (including silver)by aqua regia digestion with ICP-OES finish (code 1E3) for rocksamples and ICP-MS finish (code UT1) for soil samples and goldanalysis by fire assay with AA finish (package 1A2B-30).
Monument PeakCopper-Silver-Gold Project, Idaho, USA
The Monument Peak Project consists of 84claims covering approximately 1,708 acres (~691 hectares). It is anexploration-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 gold mineralization. Thesamples were collected from three main areas over 3,200 m strike andfrom the separate Hungry Hill Mine; the arithmetic average of allsamples was 2.34% Cu, 57.6 g/t Ag, and 0.68 g/t Au.
Project highlightsfollow (from North to South):
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North Showing: grab samples to 0.57% Cu,248 g/t Ag, 57.5 g/t Au;
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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, 109 g/tAg
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Chip Sample: 1.8 m of 3.11% Cu, 101 g/tAg
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Chip Sample: 6.1 m of 4.32% Cu, 99 g/tAg
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Anderson Occurrence: grab samples to3.9% Cu, 89 g/t Ag, 2.5 g/t Au.
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Hungry Hill Mine (2 km east of maintrend): 2.4 m of 17% Cu.
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:
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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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