Global Energy Metals Corp. Expands Drill Program at Lovelock Mine Project in Nevada
Include Drilling at Treasure Box to Test Historically High-Grade Copper and Cobalt MineralizationVancouver, May 27, 2021 - Global Energy Metals Corp. (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) ("Global Energy Metals", the "Company" and/or "GEMC"), a company involved in project level investment exposure to the battery metals supply chain, is pleased to announce it has applied to the Bureau of Land Management, Nevada State Office to expand its permitted drill program planned for the Lovelock Mine project ("Lovelock") to include the nearby Treasure Box project ("Treasure Box") in Nevada, USA.
The currently planned 1,400 metre program (6 to 8 drill holes) at Lovelock has been expanded to approximately 2,100 metres (9-10 drill holes) to capitalize on having drill contractors onsite at Lovelock so that the company can test historically high-grade copper and cobalt mineralization at Treasure Box.
The Company is fully funded for the expanded program.
Highlights
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- Expanded drill program from 1,400 metres (6 to 8 drill holes) to 2,100 metres (9-10 drill holes) in the fully funded program;
- Drilling will focus on making new copper-nickel-cobalt discoveries along newly defined conductors at Lovelock as well as at the Treasure Box deposit;
- Most of the historical work at Treasure Box has consisted of shallow drilling at the deposit area with little regional work carried out and limited deeper drilling below the deposit;
- There is strong discovery potential in and around the Lovelock and Treasure Box properties as well as at regional targets identified; and
- Modern exploration techniques and methods are being utilized at the Nevada properties with a goal of making new discoveries of battery metals critical to the technologies enabling a low-carbon economy.
About Treasure Box
The Treasure Box project, consisting of 76 unpatented lode claims, is an exploration-stage copper, cobalt, nickel, gold exploration property in the Table Mountain Mining District, Churchill County, Nevada. The mineralization at Treasure Box is a classic example of an iron-oxide copper gold (IOCG) occurrence. Both Treasure Box and Lovelock lie within the widespread Humboldt Mafic Complex, which is a large gabbroic-basalt complex that was subsequently subjected to intense and widespread hydrothermal alteration. Primary IOCG mineralization is present at relatively shallow depths as shown by limited historical drilling.
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 project 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 project 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 and subsequently by Global Energy Metals in October 2020.
Image 1. Field images at Treasure Box showcasing at-surface copper staining.
Click Image To View Full Size
Qualified Person
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 | OTC: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 believe the the time to be part of this electrification movement.
For Further Information:
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Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals
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.
