Vancouver, BC - TheNewswire - September 13, 2022 - Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”), a company involved in investment exposure to the battery metals supply chain, is pleased to provide an update on exploration plans for its Lovelock and Treasure Box projects (the “Projects”) in the Stillwater Range in Nevada. Following recent identification of new cobalt, copper and nickel targets by Earthlabs Inc., formerly GoldSpot Discoveries Corp. (TSX-V:SPOT | OTCQX:SPOFF) (“Earthlabs”) the Company has engaged Dahrouge Geological Consulting USA Ltd. (“Dahrouge Geological”) for mineral exploration activities at the Projects. Dahrouge Geological is now on site and carrying out a number of exploration initiatives to ground truth the Earthlabs’ findings and further define the scale and scope of the prospective Nevada-based battery metals projects.
Earthlabs was engaged to apply their proprietary machine learning applications (“AI”) and geoscience expertise to assist the Company in expanding discoveries and identifying new high-priority target areas;
A total of 30 exploration targets have been identified, 15 on the Lovelock Project and 15 targets identified on the Treasure Box Project;
In preparation for field work, Earthlabs provided a map of probable target zones, resulting from the AI analysis allowing for time-and cost-efficient field exploration; and
Dahrouge Geological has been engaged and is on site conducting a field program to field check the exploration target areas presented to help confirm lithologies validate and prioritize the targets generated by Earthlabs.
The field program is planned to "ground truth" the results of the above studies prior to selecting drilling targets.
Mitchell Smith President and Chief Executive officer stated:
"The exploration work completed to date has identified multiple high priority targets exhibiting cobalt, nickel and copper mineralization. The Dahrouge Geological team have a tremendous track record of discovery and we welcome their involvement in leading this field work at our Nevada projects. The objective of this current program is to locate and map the geology of the area overlying targets generated by Earthlabs’ proprietary AI technology improving drilling efficiency and chance of success."
The mapping program is planned to cover the two target areas to better understand the geology, structural trends, and mineralization controls within these high priority areas. This work will focus on mapping lithology, alterations, and mineral associations and assess the potential of a larger mineralized system. This work will also support and potentially modify the proposed drill program for the Treasure Box project as announced previously.
Figure 1. Sulfide sample taken (top left) from old working (bottom left). Intermediate intrusive unit (top right) taken from the outcrop on the bottom right. Lovelock project, Nevada, USA.
Lovelock currently consists of 81 unpatented lode claims in the Cottonwood Canyon area of the Stillwater Range totaling approximately 1,586 acres (642 hectares). It was discovered by George Lovelock and Charles Bell about 1880. According to U.S. Government annual reports, the Lovelock Mine saw limited production of nickel, copper and cobalt beginning in 1883. The primary cobalt mineral was identified as “cobaltite”. The general average of the 200 tons shipped in 1886 averaged 14 percent cobalt and 12 percent nickel. The mine operated from 1883 to 1890 to the 100 foot level, reporting 500 tons of cobalt and nickel mineralized material shipped to England for processing. After intermittent production, an English company attempted smelting on site in 1898 but little or no production was made (Source: “Mineral Resources of the United States for 1885”, 1886). No further production from the Lovelock Mine is known for well over a century providing GEMC an excellent opportunity to unlock the potential value of the deposit through exploration work. In a recent drill program at Lovelock by GEMC, elevated values of cobalt, nickel and copper were intercepted in three of the holes which targeted possible mineralization beneath the historical mine workings.
About Treasure Box
Treasure Box hosts mine workings from limited copper production, which occurred until early into the 20th century. A historical diamond drill hole (circa 1910) drilled at the Treasure Box by the Boyer-Nevada Copper Company reportedly intersected 1.52% copper over 85 feet (25.9 metres) with mineralization beginning at surface. A reverse circulation hole drilled on the Treasure Box by Utah International in 1976 returned 1.55% copper over 40 feet (12.2 metres) from a depth of 85 to 125 feet (25.9 to 38.1 metres), and the hole was stopped in chalcopyrite mineralization. The core Treasure Box claims were held continuously for over 20 years by a private company but were relinquished in September 2017, leading to their acquisition by Nevada Sunrise. GEMC received approval from the US Bureau of Land Management (the “BLM”) for a proposed exploration and drill plan at the Treasure Box project that includes up to thirteen (13) vertical drill holes from thirteen (13) different locations. Planned drill hole lengths range from 350 feet (107 metres) to 500 feet (152 metres). Total drilling is anticipated to be 5,850 feet (1,784 meters), with a minimum drilling length of three (3) drill holes totaling 1,350 feet (412 metres). Depending on findings, individual drill hole lengths could be extended by 30 to 50 feet (10 to 15 metres) as determined by the company’s on-site representative. The targeted prospects have been identified by Global Energy Metals through a systematic exploration program over the past several months that has included an airborne magnetic survey, reinterpretation of historical Induced Polarization (IP) data, detailed mapping and desktop review of historical data including past drilling.
About Dahrouge Geological
Dahrouge Geological is a North American mineral exploration, consulting, and project management group with offices in Canada and the United States. They provide professional geological, logistical, and project management services to the world’s mining and mineral resource industry including project generation, program design, geophysics, project evaluation, geology & resources, as well as mine engineering and geotechnics.
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.
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.
Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a ‘consolidate, partner and invest’ approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.
As demonstrated with the 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 established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.
Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity. Global Energy Metals believes Now is the Time to be part of this electrification movement.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
t. + 1 (604) 688-4219
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.
GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
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.
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