Global Energy Metals Announces Drilling Program Underway at the Millennium Copper Cobalt Project IN Queensland, Australia
GLOBAL ENERGY METALS ANNOUNCES DRILLING PROGRAM UNDERWAY
AT THE MILLENNIUM COPPER COBALT PROJECT IN QUEENSLAND,
AUSTRALIA
Vancouver, BC / TheNewswire / June 4, 2024 / Global Energy Metals Corpora Oon
TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals” , the “Company” and/
or “GEMC”), a mul’-jurisdic’onal, mul’-commodity cri’cal mineral explora’on,
development and project genera’ng company focused on growth-oriented projects
suppor’ng the global transi’on to clean energy, is pleased to announce that a drilling
program is now underway at the Millennium Copper Cobalt project (the “Project” and/
or “Millennium”) aimed at tes’ng the Fountain Range-Quamby Fault Zone poten’al with
the intent of increasing exis’ng copper/cobalt Resources.
Millennium is a significant cobalt-copper deposit that remains open for expansion. The
Project is located close to well established mining, transport and processing
infrastructure along with a skilled workforce in the regional centres of Mount Isa and
Cloncurry. The Project has excellent poten Bal and remains open for expansion by
extending the known mineralized structure through exploraBon work to the north and to
the east.
Global Energy Metals’ joint venture partner, Metal Bank Limited (“MBK”) has recently
been presented with the opportunity to u’lise an all-terrain drilling rig at Millennium
for a small drilling program which will allow it to further test the Fountain Range-
Quamby (“FRQ”) Fault Zone in the north of the project area and to follow up on drilling
an exis’ng RC pre-collar target below the current Resource. In addi ’on, MBK is also
con’nuing in its efforts to secure access and rights to the gap zone within its Resource
and a buffer zone around its exis’ng HK-mining leases (“MLs”) prior to progressing this
project towards feasibility studies.
MBK’s focus at Millennium is to:
- grow current resource baseto within the range of the exis’ng Explora’on Target (refer
to news release dated March 21, 2023);
- secure the gap zone and buffer zones to support development and mining; and
- progress scoping and feasibility studies for development and commencement of
produc’on.
MBK is con’nuing its communica’on with the holder of explora’on permits surrounding
the Millennium ML’s and with the Queensland Government, with a view to securing
rights to explore and apply for a Mining Lease over the gap zone in the Southern Area of
the Millennium Project (refer Figures 1 and 2) plus addi’onal buffer areas around the
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Millennium ML’s required to support development and mining.
Figure 1: N-S long sec2on view of the Millennium Co-Cu resource, op2mised pit shell and
resource drilling. Note Explora2on Target figures are conceptual in nature and are poorly
tested/untested to date.
Millennium drilling
Ini’al scout drilling toward the FRQ Fault Zone completed in 2022 was successful in
defining anomalous copper mineralisa’on (refer to news release dated October 21,
2022) in the footwall and to the north-west of the exis ’ng Millennium resource.
However, the region further west towards the fault and the fault itself was not able to be
tested due to access issues. Exposure in the FRQ Fault Zone area is very limited due to
post-mineralisa’on cover by Quamby Conglomerate alluvials (Figure 2).
A small drilling program is currently underway with an all-terrain drilling rig, with two
holes planned to test the FRQ Fault Zone – one of which is directly under signi ficant
exposure of outcropping copper oxide in a polyphase siliceous fault breccia – plus a
diamond core extension or ‘tail’ to an exis’ng RC pre-collar hole from previous drilling in
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the Central Area of the exis’ng resource.
Figure 2: Simplified geology of the Millennium Co-Cu Project showing 2023 MRE and
resource drill holes
About Metal Bank
Metal Bank Limited is an ASX-listed minerals explora2on company (ASX:MBK) holding a
significant porTolio of advanced gold and copper explora2on projects with substan2al
growth upside, including:
- Mineral explora2on and reconnaissance rights in southern Jordan, focusing on
iden2fying copper deposits within Wadi Araba;
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- the right to earn up to 80% of the Millennium Copper & Cobalt project which holds an
Inferred 2012 JORC Resource of 8.4Mt @ 1.23% CuEq, across 5 granted Mining Leases
with significant poten2al for expansion;
- a 75% interest in the advanced Livingstone Gold Project in WA which holds a JORC 2012
Inferred Resource of 40,300oz Au at the Homestead prospect, a JORC 2012 Inferred
Resource of 30,500oz Au at Kingsley, and an Explora2on Target of 290 – 400Kt at 1.8 –
2.0g/t Au for 16,800 – 25,700oz Au at Kingsley; and
- the 8 Mile, Wild Irishman and Eidsvold Gold projects in South East Queensland where
considerable work by MBK to date has drill-proven both high grade vein-style and bulk
tonnage intrusion-related Au mineralisa2on.
Metal Bank’s explora2on programs at these projects are focussed on:
- Short term resource growth – advancing exis2ng projects to substan2ally increase JORC
Resources;
- Iden2fying addi2onal mineralisa2on at each of its projects; and
- Assessing development poten2al and including fast tracking projects through feasibility
and
development to produc2on, par2cularly at the Millennium Project in Queensland, where
the
copper and cobalt project is contained within granted mining licenses.
Metal Bank is also commiked to a strategy of diversi fica2on and growth through
iden2fica2on of new explora2on opportuni2es which complement its exis2ng porTolio
and pursuit of other opportuni2es to diversify the Company’s assets.
Qualified Person
Mr . Paul Sarjeant, P . Geo., is the qualified person for this release as defined by Na’onal
Instrument 43-101 - Standards of Disclosure for Mineral Projects. He is a shareholder
and Director of the Company.
For Further InformaOon:
Global Energy Metals Corpora’on
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twiner: @EnergyMetals | @USBaneryMetals | @ElementMinerals
Global Energy Metals CorporaOon
Suite 1501, Sun tower, 128 West Pender Street, Vancouver, BC, V6B 1R8TSX.V GEMC | OTCQB GEMC
T. +1.604.688.4219 Twitter @EnergyMetals www.globalenergymetals.com
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offers investment exposure to the growing rechargeable
bakery and electric vehicle market by building a diversi fied global porTolio of
explora2on and growth-stage bakery mineral assets.
Global Energy Metals recognizes that the prolifera 2on and growth of the electrified
economy in the coming decades is underpinned by the availability of ba kery metals,
including cobalt, nickel, copper, lithium and other raw materials. To be part of the
solu2on and respond to this electrifica2on movement, Global Energy Metals has taken a
‘consolidate, partner and invest’ approach and in doing so have assembled and are
advancing a porTolio of strategically significant investments in bakery metal resources.
As demonstrated with the Company’s current copper, nickel and cobalt projects in
Canada, Australia, Norway and the United States, GEMC is inves2ng-in, exploring and
developing prospec2ve, scaleable assets in established mining and processing
jurisdic2ons in close proximity to end-use markets. Global Energy Metals is targe 2ng
projects with low logis2cs and processing risks, so that they can be fast tracked to enter
the supply chain in this cycle. The Company is also collabora2ng with industry peers to
strengthen its exposure to these cri2cal commodi2es and the associated technologies
required for a cleaner future.
Securing exposure to these cri2cal minerals powering the eMobility revolu 2on is a
genera2onal investment opportunity. Global Energy Metals believes Now is the Time to
be part of this electrifica2on movement.
CauOonary Statement on Forward-Looking InformaOon:
Certain informa2on in this release may cons2tute forward-looking statements under
applicable securi2es laws and necessarily involve risks associated with regulatory
approvals and 2melines. Although Global Energy Metals believes the expecta 2ons
expressed in such forward-looking statements are based on reasonable assump 2ons,
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 obliga 2on to update these
forward-looking statements in the event that management’s beliefs, es 2mates or
opinions, or other factors, should change.
GEMC’s opera2ons could be signi ficantly adversely affected by the e ffects 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 opera2ons and the ability of others to meet their obliga 2ons, including
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uncertain2es rela2ng to the ul2mate geographic spread of the virus, the severity of the
disease, the dura2on of the outbreak, and the length of travel and quaran 2ne
restric2ons imposed by governments of affected countries. In addi2on, a significant
outbreak of contagious diseases in the human popula2on could result in a widespread
health crisis that could adversely affect the economies and financial markets of many
countries, resul2ng in an economic downturn that could further affect opera2ons and
the ability to finance its opera2ons.
For more informa2on 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 Regula 2on 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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