Global Energy Metals Commences Due Diligence Site Visit and Technical Review at Millennium Cobalt Project and Review of Other Priority Australian Cobalt Assets
GLOBAL ENERGY METALS COMMENCES DUE DILIGENCE SITE
VISIT AND TECHNICAL REVIEW AT MILLENNIUM COBALT
PROJECT AND REVIEW OF OTHER PRIORITY AUSTRALIAN
COBALT ASSETS
VANCOUVER, BC / TNW-ACCESSWIRE / MAY 10, 2017 / GLOBAL ENERGY
METALS CORP. TSXV:GEMC (“Global Energy Metals”, the “Company”
and/or "GEMC") is pleased to announce that further to its news release
dated May 1, 2017 announcing an agreement with Hammer Metals Ltd.
("Hammer") for the exclusive right to earn a 75% interest in the
Millennium Cobalt Project (the "Project" and/or "Millennium") that as part
of its due diligence and technical assessment of the Project, GEMC will be
conducting a site visit to the prolific Mount Isa mining district.
The GEMC team led by VP Projects, Paul Sarjeant, P.Geo., accompanied by
Australasia Acquisitions Lead, Ian Spence, along with members of
Hammer's technical team expect to be on site mid-May to initiate a
comprehensive review of the technical aspects of the project, including
geology, resource estimation, historic exploration programs, and
metallurgy.
In addition to this technical review, the team will also undertake activities
to understand the potential for further cobalt mineralization in the area
surrounding the Millennium project. Upon conclusion of a favourable site
visit, the technical team will make recommendations to GEMC's Board to
complete a definitive agreement.
During Mr. Sarjeant's time in Australia, he will also conduct further due
diligence on several additional advanced and near production projects
with significant cobalt content to conclude analysis on certain project’s
potential as future sources of supply to GEMC’s partner, battery
manufacturer Beijing Easpring Material Technology Company ("Easpring"),
and other downstream users. This technical trip comes on the heels of an
early April project vendor negotiations trip by senior management
including President and CEO Mitchell Smith and Executive Chair Erin
Chutter. More recently, GEMC's strategic partner Easpring was also in
Australia reviewing battery metal projects with an emphasis on securing
supply of raw material critical to the growing demand for lithium-ion
batteries.
GEMC announced on March 22, 2017 a long-term strategic cooperation
agreement with one of the world's key battery manufacturing companies
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to jointly develop cobalt and other battery metals projects in order to build an efficient and
reliable cobalt material supply chain.
Global Energy Metals’ acquisition of the Millennium Cobalt Project is the first of several
expected acquisitions of robust cobalt projects or sources of cobalt material that is
required by GEMC's battery and offtake partners in Asia. All projects under consideration
are expected to meet GEMC’s investment requirements of an existing resource, completed
suitable metallurgical test work and located outside of the DRC.
The Millennium Cobalt project provides GEMC with an excellent opportunity to acquire a
cobalt asset of significant size with potential to expand mineralisation in close proximity to
a processing solution and excellent infrastructure within the Mount Isa region of
Queensland, Australia.
Global Energy Metals Corporation (TSXV:GEMC)
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.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
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.
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in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
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