Powered by Cobalt … Driven by Demand CONTRACTOR CONFIRMED FOR LARGE DRILL PROGRAM PLANNED FOR RESOURCE UPDATE AT WERNER LAKE COBALT PROJECT
TSX.V GEMC
www.globalenergymetals.com
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CONTRACTOR CONFIRMED FOR LARGE DRILL PROGRAM
PLANNED FOR RESOURCE UPDATE AT WERNER LAKE
COBALT PROJECT
Vancouver, BC / TheNewswire / April 23, 2018 / Global Energy
Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1
(“Global Energy Metals”, the “Company” and/or "GEMC") is pleased
to announce that Mink Creek Drilling Ltd. (“Mink Creek Drilling”) has
been appointed a contract for the planned Spring Exploration Program
at the Werner Lake Cobalt project in Ontario, Canada.
Partner Marquee Resources Limited (“Marquee”) (ASX:MQR) has
announced the agreement with Mink Creek Drilling as part of its
$2,500,000 obligation to earn a 70% interest in the primary cobalt
project.
The appointment of Mink Creek Drilling is of great significance as it is
the last major agreement that was required before Marquee embarks
on its maiden exploration program at Werner Lake.
Drilling of the phase one, 3,500 metre drilling program will commence
in late May or early June subject to weather conditions.
Mink Creek Drilling Ltd.
Mink Creek Drilling is a diamond drilling firm based in Manitoba,
Canada, specializing in surface diamond drilling with NQ hole depth
capacity to 1500 meters.
The company is managed by Jamie Hutton, a drilling contractor with
35 years of management and contracting experience with Tonto
Drilling Ltd. (Canada), Connors Drilling Ltd. (Canada, Chile, Argentina,
and Ecuador), and Foraco Drilling (Canada).
The Werner Lake project, which abuts First Cobalt Corporation’s
western Ontario cobalt assets, will now be the focus of a $2.5 million
exploration program f u n d e d s o l e l y b y M a r q u e e . M a r q u e e ’ s p r i o r i t y
will be to identify and delineate additional high-grade cobalt
mineralisation at Werner Lake.
Werner Lake Cobalt Project
The Werner Lake Cobalt Mine operated in the 1940s as a high-grade
source of cobalt. Since that time, the project was taken back to
mine decision by Canmine Resources. Canmine Resources completed
a significant amount of work on the project including; helicopter-
borne geophysics, approximately 22,860 m of diamond drilling over
numerous campaigns, several resource calculation and approximately
258 m of underground ramping, drifting and raising into the West
Cobalt Deposit. They also completed a 10,000 tonne bulk sample and
metallurgical bench test milling and chemical analysis on the
mineralised material. Canmine Resources also completed several
preliminary feasibility studies and economic modeling and were in the
process of completing a definitive feasibility study when they filed for
bankruptcy. Additional work was completed in 2009-2010 by Puget
Ventures and all this work formed the basis for the recent NI 43-101
resource report issued by GEMC (see press release September 6,
2017). A work program including diamond drilling (+3,500 m), to
further upgrade resource categories and extend the mineralised
envelope, as well as additional metallurgical work and underground
chip sampling has been recommended. The mineralised zones remain
open in all directions.
Qualified Person
Mr. Paul Sarjeant, P . Geo., the Company’s VP Projects and Director, is
the qualified person for this release as defined by National Instrument
43-101 - Standards of Disclosure for Mineral Projects and has reviewed
and verified the technical information contained herein.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
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 and has entered into an agreement to earn-in to
the Millennium Cobalt Project in Mt. Isa, Australia.
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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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.