Global Energy Metals Provides Update ON Millennium Project Graphite Discovery Including High-Grade Drilling Results
GLOBAL ENERGY METALS PROVIDES UPDATE ON MILLENNIUM PROJECT
GRAPHITE DISCOVERY INCLUDING HIGH-GRADE DRILLING RESULTS
Vancouver, BC / TheNewswire / July 30, 2024 / Global Energy Metals CorporaOon 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 results from recent diamond drilling that was completed
and is being sole-funded by joint venture partner Metal Bank Limited (“Metal Bank” and/or
“MBK”) at the Millennium Project (“Millennium”) in northwest Queensland, Australia. These
results include significant high grade 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
•High grade graphite returned from MI24DD001 including:
•2.6m @ 19.2% TGC (total graphiEc carbon) from 168.4m;
•5.8m @ 17.4% TGC from 180m; and
•3.8m @ 17.6% TGC from 188m
•Graphite present in drilling over >2km of strike.
•Further graphite sampling and assay programs to unlock project value in progress.
•Millennium also hosts an exisEng Co-Cu-Au mineral resource of 8.4Mt @ 1.23% CuEq (See
news releases dated July 15, 2024 and March 21, 2023).
•All drill holes completed in this program intersected varying levels of sulphide
mineralisaEon - including chalcopyrite (copper) and cobalEte (cobalt) minerals.
•Due to growing corporate interest a data room for the project has been established and
shared with third parEes.
Mitchell Smith, CEO & President commented:
“These ini9al results from our partner funded drill program are encouraging and highlight
previous geophysical anomalies which now support large scale graphite targets adjacent to the
established cobalt-copper-gold resource at Millennium. MBK is currently working through its drill
sample archive to undertake low-cost re-assaying for graphite to assess the poten 9al for a
graphite resource and have only just begun to unlock addi 9onal project value. In addi9on,
following these encouraging explora9on outcomes, the Millennium project has a Iracted
growing corporate interest and Metal Bank has established a data room that has been shared
with third par9es.”
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Millennium Drilling Summary
Three diamond drill holes for 384m were completed at the Millennium Project in June (Figure 1,
Table 1). This drilling targeted a resource extension in the central zone plus conceptual tes’ng of
the Fountain Range-Quamby Fault Zone a[er iden’fying anomalous copper to the west of the
Millennium resource in previous drilling and copper-oxide-bearing siliceous breccia outcrops to
the northwest of the current Millennium resource.
Figure 1: Millennium plan overview showing recent drilling and results, previous rock chip %TGC
results and >2km interpreted strike of graphite mineralisa9on on the western margins of the
2023 Co-Cu-Au resource outline.
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MI24DD01 (Figures 1 and 2) was drilled to the west and away from the Millennium resource,
tes’ng between the mineralised Millennium structure and the interpreted steeply east-dipping
Fountain Range-Quamby Fault Zone for mineralised sub-parallel structures and possible
structural and/or gene’c rela’onships. MI24DD01 intersected massive amphibolite and dolerite
with trace chalcopyrite to 168.4m before a strongly graphi’c metasediment unit to end of hole
(Figure 3).
In the broad zones where visual graphite was intersected, total graphi ’c carbon (TGC) was
assayed, with results (Table 2) including:
• 2.6m @ 19.2% TGC from 168.4m;
• 5.8m @ 17.4% TGC from 180m, and;
• 3.8m @ 17.6% TGC from 188m
Figure 2: Millennium 7723300N sec9on showing MI24DD01 and MI22RD03 extension results.
Note apparent resource offset enhanced by structural offset and +/-50m search radius.
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Figure 3: Example of high-grade graphite in drill core within 5.8m @ 17.4% TGC from 180m
(MI24DD01).
These high-grade graphite results support strong rock chip results taken by a previous explorer,
which extend some 800m in strike to the south within the same interpreted unit, and which
average 17.0% TGC from 37 samples taken over a zone some 1,300m long and up to 100m wide.
In addi’on, a review of previous drilling iden’fied visual graphite intersec’ons extending over a
total strike length of greater than 2km to the north and south.
Graphite at Millennium is interpreted as associated with metamorphosed carbonaceous
sediments near the margins of a large mafic unit/s and/or siliceous sediment units which run
subparallel to the Millennium structure and Fountain Range-Quamby Fault Zone. Previous
petrology iden’fied graphite as intergrown and overgrown with metamorphic minerals in the
main Millennium Cu-Co-Au mineralisa’on and recommended the role of graphite with metal
mineralisa’on be further inves’gated, however no graphite-specific samples within main
carbonaceous units were taken.
In other drilling, MI22RD03 (same sec ’on) extended a previous reverse circula ’on (RC)
precollar hole from 156m to validate an apparent gap in the 2023 mineral resource. The hole
immediately intersected copper-cobalt mineralisa’on associated with the main Millennium
structure (slightly offset due to faul’ng not evident in RC drilling) and returned 23m @ 0.32% Cu
and 0.09% Co with minor Au from 156m below a previous RC intersec’on of 12m @ 0.32% Cu
from 136m. This hole validated the exis’ng interpreta’on of the resource and lower grade
domain along with iden’fying a minor structural offset not evident from previous RC drilling.
Hole MI24DD02 in the central north was drilled in difficult topography at a shallow angle to the
west to test below a well-mineralised CuO-bearing siliceous breccia zone at surface and for a
second intersec’on of the Fountain Range-Quamby Fault Zone. The hole was unable to be
completed to target depth and was terminated short of adequately tes’ng both targets.
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Table 1: Drill hole details, Millennium Project June 2024
All co-ordinates GDA94 Zone 54 co-ordinate system.
Table 2: Significant drill hole results, Millennium Project July 2024
All intervals downhole weighted mean, 0.2% Cu (and/or 0.1% Co) or 5% TGC cut-o ff with
maximum 3m internal dilu9on.
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.
Millennium displays matching geology to the Corella deposit, with metamorphosed graphi ’c
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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 pery
manufacturing and other technologies.
Figure 3: NW QLD graphite projects map (modified ajer Lithium Energy (ASX:LEL) website.
Forward Plan
Alongside its partner Metal Bank, Global Energy Metals remains commi ped to extrac’ng
maximum value from its Australian asset porqolio.
Graphite demand con’nues to grow in line with expansion in the electric vehicle (EV) lithium-
ion bapery sector, where graphite is the key raw material consumed in EV bapery 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.
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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 to establish graphite
extents, a review of exis’ng geophysical data and poten’al for further electrical geophysics to
help define large graphite targets, and low-cost re-assaying of previous RC and diamond core
laboratory samples, exis’ng bulk samples and drill core for total graphi’c carbon content where
relevant and material.
The Company con’nues to monitor the NW QLD bapery metals space as projects and regional
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 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
Twiper: @EnergyMetals | @USBaperyMetals | @ElementMinerals
Global Energy Metals CorporaOon
(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 porkolio of explora9on and growth-stage
baIery mineral assets.
Global Energy Metals recognizes that the prolifera9on 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 9on and respond to this
electrifica9on movement, Global Energy Metals has taken a ‘consolidate, partner and invest’
approach and in doing so have assembled and are advancing a por kolio 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 9ng-in, exploring and developing
prospec9ve, scaleable assets in established mining and processing jurisdic9ons in close proximity
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to end-use markets. Global Energy Metals is targe9ng projects with low logis9cs and processing
risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also
collabora9ng with industry peers to strengthen its exposure to these cri9cal commodi9es and
the associated technologies required for a cleaner future.
Securing exposure to these cri 9cal minerals powering the eMobility revolu 9on is a
genera9onal investment opportunity. Global Energy Metals believes Now is the Time to be part
of this electrifica9on movement.
CauOonary Statement on Forward-Looking InformaOon:
Certain informa9on in this release may cons9tute forward-looking statements under applicable
securi9es laws and necessarily involve risks associated with regulatory approvals and 9melines.
Although Global Energy Metals believes the expecta9ons expressed in such forward-looking
statements are based on reasonable assump9ons, 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 obliga9on
to update these forward-looking statements in the event that management’s beliefs, es9mates
or opinions, or other factors, should change.
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