Global Energy Metals Provides Update ON Millennium Project Following Significant Graphite Discovery
GLOBAL ENERGY METALS PROVIDES UPDATE ON MILLENNIUM PROJECT
FOLLOWING SIGNIFICANT GRAPHITE DISCOVERY
Vancouver, BC / TheNewswire / July 15, 2024 / Global Energy Metals CorporaQon 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 provide ini’al observa’ons from recent drilling (refer to news release
dated June 4, 2024) being conducted and sole-funded by joint venture partner Metal Bank
Limited (“Metal Bank” and/or “MBK”) at the Millennium Project (“Millennium”) in northwest
QLD, including significant and extensive graphite intervals adjacent to the exis ’ng Co-Cu-Au
mineral resource of 8.4Mt @ 1.23% CuEq (refer to news release dated March 21, 2023).
Highlights
• Thick graphite intersec0ons observed in recent explora0on drilling
• Graphite present over >2km strike length - with recent observa0ons supported by historic
high-grade rock chip results and previous drilling
• Drill assays pending – posi0ve results will have the poten0al to add significant project value
on granted mining leases
• All drill holes completed in most recent program intersected varying levels of sulphide
mineralisa0on - including chalcopyrite (copper) and cobal0te (cobalt) minerals
•Millennium hosts an exis0ng Co-Cu-Au mineral resource of 8.4Mt @ 1.23% CuEq
Mitchell Smith, CEO & President commented:
“We are pleased by the results from ongoing explora8on at Millennium by our joint venture
partner Metal Bank. Latest results demonstrates there is signi ficant under-explored poten8al
and value to be unlocked, not only for cobalt, copper and gold mineralisa 8on but valuable
transi8on products like graphite that have been iden8fied adjacent to the exis8ng resource on
granted mining leases. Taking into account the increased ac8vity in the region, Millennium may
play an important role in the new anode materials supply within the NW QLD ba Iery mineral
projects region. As the industry targets diversified supply, the focus shiKs to more ESG friendly,
secure sources of graphite produc8on and processing. In line with this, we along with our
partner will con8nue to assess the poten8al for further value to be unlocked from developing
this graphite poten8al as part of the Millennium project over the coming months.”
Millennium Drilling Summary
Three diamond drill holes for 384m were completed at the Millennium Project in June (Figure 1,
Table 1). This drilling targeted resource extensions in the central zone and conceptual tes’ng of
the Fountain Range-Quamby Fault Zone a\er iden’fying anomalous copper in previous drilling
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and siliceous breccia outcrop to the northwest of the current Millennium resource.
Figure 1: Millennium plan overview showing recent drilling, interpreted strike of graphite
mineralisa8on and previous highly anomalous rock chip graphite results on the western margins
of the 2023 Co-Cu-Au resource outline.
Two holes (MI24DD01 and MI24DD02, Figure 1) were drilled at low angles toward the Fountain
Range-Quamby Fault Zone, a large regional structure on the western margin of the Millennium
Project. The remaining hole (MI22RD03) was designed to extend a previous RC drill program
within the northern extension of the Millennium resource to provide further structural and
metallurgical data. All drill holes intersected sulphide mineralisa’on, with chalcopyrite (copper)
and cobal’te (cobalt) minerals of varying levels in samples submi_ed for laboratory analysis
earlier this month (results awaited).
Importantly, strongly graphi’c schist was observed in MI24DD01 from 166m to end of hole at
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192.9m (Figure 2). Graphite intersected correlates with both graphite-bearing exposures and
black soils in the south and on the margin of a thick ma fic unit which lies sub-parallel to the
regional Millennium Co-Cu-Au mineralisa’on trend.
Table 1: Completed drill hole details
All co-ordinates GDA94 Zone 54 co-ordinate system.
Figure 2: MI24DD01, 182.9m: High grade graphite in broken drill core.
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Given strong historic graphite values adjacent to the 2023 Millennium mineral resource, drill
core from 166m to end of hole has been submi _ed for graphi’c carbon analysis. Likewise,
previous visual graphite intersec’ons in MBK drilling from 2021-2022 have been compiled
together with the graphi’c carbon rock chip results in the southern area from previous
explorers. This review supports a greater than 2km trend of graphite in both drilling and rock
chip sampling. Previous unreleased sampling results by ASX-listed explorer Hammer Metals
(ASX:HMX) returned an average of 17.0% total graphi’c carbon from 37 samples in the south
over an area greater than 1300m strike and up to 100m wide (Table 2).
No assay results have been received for the recent drill core sample to date, however, the
prospec’ve graphi’c unit is evident in mul’ple previous drill holes, and recent drilling has
demonstrated it con’nues beneath recent alluvial sediment to the north.
NW Queensland District Graphite Development
Millennium is strategically located between other NW QLD graphite development projects
which are currently undergoing consolida’on (Figure 3). The Corella deposit is located 14km to
the south (13.5Mt @ 9.5% TGC) and the Burke deposit 107km due north (9.1Mt @ 14.4% TGC)
of Millennium, both held by Lithium Energy (ASX:LEL), and the Mt Dromedary deposit (14.3Mt
@ 13.3% TGC) held by Novonix (ASX:NVX and NASDAQ:NVX) is immediately adjacent to the
Burke Deposit.
Figure 3: NW QLD graphite projects map (modified aKer Lithium Energy (ASX:LEL) website.
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Millennium displays matching geology to the Corella deposit, with metamorphosed graphi ’c
shales, slates and schists of the Milo Beds within the Tommy Creek Domain hos ’ng both
deposits, and both deposits are proximal to ma fic units and structural corridors which are
considered key factors for the development of high quality, high-grade graphite mineralisa’on.
Metallurgical test work to date on these nearby deposits (refer to LEL:ASX announcement of
April 3 2024: Merger of Lithium Energy and NONOIX Natural Graphite Assets and Proposed Axon
Graphite Limited Spin-Out and IPO) has returned high-grade concentrate with high graphite
recoveries coincident with electrochemical test work indica’ve of material highly suitable for
downstream graphite processing and integra’on into modern ba_ery manufacturing and other
technologies.
Table 2: 2017 Hammer Metals rock chip sampling results (previously unreleased)
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All co-ordinates GDA94 Zone 54 co-ordinate system.
Forward Plan
Alongside its partner Metal Bank, Global Energy remains commi _ed to extrac’ng maximum
value from its Australian asset porlolio.
Graphite demand con’nues to grow in line with expansion in the electric vehicle (EV) lithium-
ion ba_ery sector, where graphite is the key raw material consumed in EV ba_ery anodes.
Despite some recent price pressure, the long-term outlook for natural, ex-China graphite
remains strong. As the industry targets diversified supply, the focus shi\s to more ESG friendly,
secure sources of graphite produc’on and processing.
In line with this, the companies are jointly assessing the poten ’al for further value to be
unlocked from developing this graphite poten’al as part of the Millennium Project over the
coming months. This includes addi’onal surface mapping and sampling plus low-cost re-
assaying of previous RC and diamond core laboratory samples for total graphi’c carbon content.
The company awaits assay results for Co-Cu-Au mineralisa’on and graphite from the recent
drilling and con’nues to monitor the NW QLD ba _ery metals space as projects and
infrastructure develops.
Qualified Person
Mr . Paul Sarjeant, P . Geo., is the qualified person for this release as de fined by Na’onal
Instrument 43-101 - Standards of Disclosure for Mineral Projects. He is a shareholder and
Director of the Company.
For Further InformaQon:
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
Twi_er: @EnergyMetals | @USBa1eryMetals | @ElementMinerals
Global Energy Metals CorporaQon
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offers investment exposure to the growing rechargeable baIery and
electric vehicle market by building a diversified global pordolio of explora8on and growth-stage
baIery mineral assets.
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Global Energy Metals recognizes that the prolifera8on and growth of the electrified economy in
the coming decades is underpinned by the availability of baIery metals, including cobalt, nickel,
copper, lithium and other raw materials. To be part of the solu 8on and respond to this
electrifica8on movement, Global Energy Metals has taken a ‘consolidate, partner and invest’
approach and in doing so have assembled and are advancing a por dolio of strategically
significant investments in baIery metal resources.
As demonstrated with the Company’s current copper, nickel and cobalt projects in Canada,
Australia, Norway and the United States, GEMC is inves 8ng-in, exploring and developing
prospec8ve, scaleable assets in established mining and processing jurisdic8ons in close proximity
to end-use markets. Global Energy Metals is targe8ng projects with low logis8cs and processing
risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also
collabora8ng with industry peers to strengthen its exposure to these cri8cal commodi8es and
the associated technologies required for a cleaner future.
Securing exposure to these cri 8cal minerals powering the eMobility revolu 8on is a
genera8onal investment opportunity. Global Energy Metals believes Now is the Time to be part
of this electrifica8on movement.
CauQonary Statement on Forward-Looking InformaQon:
Certain informa8on in this release may cons8tute forward-looking statements under applicable
securi8es laws and necessarily involve risks associated with regulatory approvals and 8melines.
Although Global Energy Metals believes the expecta8ons expressed in such forward-looking
statements are based on reasonable assump8ons, such statements are not guarantees of future
performance and actual results or developments may di ffer materially from those in the
forward-looking statements. Except as required by law, the Company undertakes no obliga8on
to update these forward-looking statements in the event that management’s beliefs, es8mates
or opinions, or other factors, should change.
GEMC’s opera8ons 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 opera8ons
and the ability of others to meet their obliga 8ons, including uncertain8es rela8ng to the
ul8mate geographic spread of the virus, the severity of the disease, the dura 8on of the
outbreak, and the length of travel and quaran 8ne restric8ons imposed by governments of
affected countries. In addi8on, a significant outbreak of contagious diseases in the human
popula8on could result in a widespread health crisis that could adversely affect the economies
and financial markets of many countries, resul8ng in an economic downturn that could further
affect opera8ons and the ability to finance its opera8ons.
For more informa8on 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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policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
We seek safe harbour.