Vancouver, BC / TheNewswire / June 25, 2019 - Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 ("Global Energy Metals", the "Company" and/or "GEMC") is pleased to announce that fieldwork at the Lovelock Cobalt Mine in Churchill County, Nevada is now underway with a focus on identifying high-grade mineralized zones of cobalt, nickel and copper in the historical underground workings.
Global Energy Metals will commence channel sampling of previously identified mineral-rich areas, as well as complete detailed geological mapping and surveying of the accessible underground workings. The results of the program will assist in its evaluation of the subsurface geology and identify areas for future drilling, and serve as an important resource for the creation of a 3D geological model.
The initial work program is focused on defining structural controls in the known battery metal-rich areas and connecting mineralized zones into broader targets in preparation for an inaugural drilling program. Given the very large exploration area, producing a property-wide geological interpretation and model of the structures and mineralization is an immediate priority.
In addition, the Company has staked an additional 7 new claims to add to the 11 new claims staked earlier this month. The new claims to the east of the historic mine shaft cover approximately 36 hectares increasing the Lovelock Cobalt Mine property to a total of 678 hectares, within 88 mineral claims.
Some of these new claims are contiguous to both the Lovelock Cobalt mine project and the historic Nickel Mine in Cottonwood Canyon. The workings at the Nickel Mine comprise six short adits and an incline shaft about 100 feet deep. A sample lot of 15 tons mined in the early days contained 12 percent nickel and 7 percent cobalt (Source: US Bureau of Mines, Vanderburg, 1940).
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
Cautionary Statement on Forward-Looking Information:
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
We seek safe harbour.