Global Energy Metals Expands Land Position In Nevada - Stakes Claims Contiguous To The Lovelock Cobalt Mine
TSX VENTURE: GEMC
Vancouver, BC / TheNewswire / June 13, 2019 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 ("Global Energy Metals", the "Company" and/or "GEMC") is pleased to announce that it has staked 11 new claims adjoining the 70 pre-existing Lovelock Cobalt Mine project claims in Churchill County, Nevada. The new claims to the north of the historic mine shaft cover approximately 75 hectares increasing the Lovelock property to a total of 642 hectares, within 81 mineral claims.
Mitchell Smith, CEO & Director commented:
"As Global Energy Metals commences its exploration program on our newly optioned ground at the Lovelock Cobalt Mine in Nevada, we wanted to ensure our land position covered additional prospective areas contiguous to current holdings. We are especially excited to have strengthened this land position after recent sampling from the newly staked area extended the potential for additional cobalt, nickel and copper mineralization around the historically producing mine."
In January of this year, Global Energy entered into an option agreement with Nevada Sunrise Gold, a Vancouver based company, for the option to acquire an 85% undivided interest in the Lovelock Cobalt Mine and nearby Treasure Box project, adding to its portfolio of battery metal projects in top-tier mining jurisdictions within Canada and Australia. Both Lovelock and Treasure Box are highly prospective for battery minerals including cobalt, nickel and copper.
More recently, Global Energy Metals entered into a strategic technological initiative for a right to use for a period of one year Canada Cobalt Works' Re-2OX technology to accelerate the advancement of the Lovelock Cobalt Mine and Treasure Box projects. Significantly, Re-2OX skips the normal smelting process to achieve exceptionally high recovery rates for cobalt, nickel and copper, while also removing 99% of arsenic expanding the potential of the Lovelock mine by potentially creating battery grade cobalt sulphate.
This hydrometallurgical testing is part of a wider exploration and drilling program that will allow for reinterpretation of historic data and a better understanding of the ability to unlock the cobalt, nickel and copper potential from GEMC's Nevada based projects.
Fieldwork and initial lab results from samples taken during a recent site visit demonstrated the potential to identify high-grade cobalt, nickel and copper mineralization over broader areas than originally believed at the Lovelock Cobalt Mine and Treasure Box.
GEMC is currently compiling historical data and formulating plans for exploration work to advance the battery minerals project.
Mr. Paul Sarjeant, P. Geo., is the qualified person for this release as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed and verified the technical information contained herein.
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metal-related projects with key strategic partners. Global Energy Metals currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada, has an option to acquire an 85% interest in two cobalt exploration projects in Nevada, 150 km east of the Tesla-Panasonic Gigafactory 1, and has entered into an agreement to acquire 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
t. + 1 (604) 688-4219 extensions 236/237
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Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.
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We seek safe harbour.