Initial Results from Werner Lake Cobalt Project Confirm High Grade Cobalt Mineralisation
Vancouver, July 19, 2018 - Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 ("Global Energy Metals", the "Company" and/or "GEMC") is pleased to announce that partner Marquee Resources has received assay results from the first two holes drilled at the summer work program at the Werner Lake Cobalt project ("Werner Lake"), located in Ontario, Canada. Highlights:
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- Drill holes intersected high-grade cobalt mineralisation in the first batch of assays received from Werner Lake.
- 3.8m @ 1.39% Co including 1.6m @ 3.23% Co, from 36.7 m in WL 18-02.
- The Company is excited to confirm consistency of data from previous drill campaigns.
- Historical total mine production was reported at 143,386 lbs of cobalt grading approximately 2.2% cobalt and 0.75 % copper.
- Assays for drill holes WL 18-03 and WL 18-04 anticipated shortly.
- Marquee has now completed 8 holes for 1,527m at the Werner Lake Project as part of its phase one drilling campaign.
Marquee Managing Director, Charles Thomas commented:
"These early results from the first phase of the drill campaign are extremely exciting as they confirm the presence of a high grade cobalt at Werner Lake. As we continue to receive results from this drill campaign we are expanding our knowledge of this high-grade deposit, which remains open in all directions. Drilling has been progressing ahead of schedule and we look forward to receiving and reporting the assays from the rest of this phase 1 drilling campaign."
WL 18-02 returned high-grade intercept, 1.39% Co over 3.8 m (from 35.75 m downhole), including 3.23% Co over 1.6m. Drill hole WL 18-02 was drilled (Azimuth 180o, Dip -45o) to twin diamond drill hole J-040, a high-grade cobalt intercept completed by Canmine Resources circa 1995.
Historic diamond drill hole, J-040 intersected high-grade cobalt mineralisation returning a main intercept of 5.345% Co over 2.62 metres.
Two other zones of mineralisation were also encountered in WL 18-02 that roughly correspond to findings in J-040 (Figure 1). Overall a wide zone of Cu mineralisation from 24.0 m (12.1 m @ 0.26% Cu) defined the targeted horizons.
Figure 1. Cross Section 359,660 E, Werner Lake Drill Holes WL 18-02, 18-03 and 18-04.
Drill hole WL18-01 was drilled (Azimuth 180o, Dip -67o) to test potential down dip extension of mineralisation on Section 359,580 E. Mineralised units were encountered from 146.3 to 153.7 metres with overall sulphides <1%.
Results indicate the target horizon was intersected where projected and suggests an approximate extension of 40 metres to depth (Figure 3) of the mineralisation. As expected, elevated Cu values from 146.3 m downhole (2.2 m @ 0.46% Cu) also defined the targeted horizon in WL 18-01.
Figure 2. Werner Lake Cross Section 359,580 E, Werner Lake Drill Hole WL-18-01
As part of the phase one drilling campaign, 8 holes for 1,527 metres have now been completed at the Werner Lake Project.
Core is being sent to the laboratory in batches and as such GEMC intends to announce further assay results as they come to hand. The next anticpated batch should include WL 18-03 and WL 18-04 in the coming weeks.
Marquee's exploration campaign at Werner Lake is primarily focused on narrow spaced drilling, which has been designed to increase the existing Indicated Mineral Resource of 79,400 Tonnes at 0.43% Co which remains open in all directions.
Figure 3. Werner Lake Drill Hole Location Map.
Qualified Person
Mr. Paul Sarjeant, P. Geo., the Company's VP Projects and Director, 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.
Global Energy Metals Corporation
(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 metals related projects with key strategic partners. Global Energy Metals currently owns and is advancing the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to earn-in to the Millennium Cobalt Project in Mt. Isa, Australia.
For Further Information:
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Email: info@globalenergymetals.com
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