GEMC.V · 2021-07-15 12:00:00

Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces Commencement of Partner Funded Exploration Work Program at the Millennium Cobalt-Copper-GOLD Project IN Queensland, Australia

Exploration Programs

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GLOBAL ENERGY METALS ANNOUNCES COMMENCEMENT OF

PARTNER FUNDED EXPLORATION WORK PROGRAM AT THE

MILLENNIUM COBALT-COPPER-GOLD PROJECT IN QUEENSLAND,

AUSTRALIA

Vancouver, BC / TheNewswire / July 15, 2021 / Global Energy Metals

CorporaUon TSXV:GEMC | OTC:GBLEF | FSE:5GE1 (“Global Energy Metals” ,

the “Company” and/or “GEMC”), a company involved in investment exposure

to the baGery metals supply chain, is pleased to advise that its partner, Metal

Bank Limited (“MBK”) has commenced ini Ual exploraUon as part of a six

month exclusive opUon ( ‘ O pUon’) for MBK to earn-in and joint venture the

Millennium Copper, Cobalt and Gold Project in Mt Isa, Queensland

(‘Millennium Project’). IniUal ﬁeld reconnaissance and mapping completed in

early July have con ﬁrmed outcropping copper mineralisa Uon and key

straUgraphic units, adding support to target conUnuity in the north of the

Project. MBK is now progressing and ﬁnalising an RC drill program to test the

northern extensions of the Project, with drilling scheduled to commence in

early August 2021.

Highlights

•MBK has commenced its iniUal exploraUon program at Millennium as part of

its exclusive opUon over the Project,

•IniUal ﬁeldwork has idenUﬁed Cu mineralisaUon at surface in the Project’s

“Northern Zone” extending the target zone ,

•Up to 800m RC drilling of the untested Northern Zone scheduled for early

August,

•At the end of the 6 month op Uon period, MBK will have the right to

commence a formal earn-in to the Project to earn up to an 80% interest,

and

•Millennium contains an inferred Cu equivalent Mineral Resource of 5.9MT1

with substanUal growth upside, in close proximity to processing soluUons

and excellent infrastructure in the Mount Isa region

Mitchell Smith, President & CEO commented on MBK compleUng its iniUal

ﬁeldwork ahead of drilling at the Millennium Project:

“We’re excited to be underway on mul4ple explora4on programs, now on two

con4nents. With Metal Bank’s ini4al ﬁeld reconnaissance adding to the drill

target inventory we’re conﬁdent we’re on the path to further discovery at

Millennium. We’re looking forward to con 4nuing the development of

Millennium alongside our new partner.”

CommenUng on the exploraUon work, Inés Scotland, Chair of MBK said:

“Ini4al observa4ons by our ﬁeld team are extremely encouraging and suggest

target con4nuity in the north of the Project. The addi4onal outcropping cop-

per mineralisa4on exceeded expecta4ons. As a result, MBK is now fast-track-

ing an RC drill program to test the Northern Extension area. If we conﬁrm the

system extends to the north it will completely change the scale of the Project”.

Figure 1: Map showing exis4ng Millennium resource zone and explora4on

targets, including the Northern Extension

The Millennium Project is an advanced exploraUon and development project

located in the Mount Isa region, 19km from the Rocklands copper-cobalt

project which is host to 55.4Mt of Resources grading 0.64%Cu, 0.15 g/t Au,

290ppm Co (0.90% CuEq). The Millennium Project holds an inferred 2012 1

CDU:ASX Announcement dated 31 October 20171

JORC resource of 5.9MT @ 1.08% CuEq across 5 granted Mining Leases with 2

signiﬁcant potenUal for expansion.

IniUal ﬁeldwork, conducted in early July was centred around the ‘Northern

Extension’ zone of Millennium. This ﬁeldwork conﬁrmed and reﬁned geologi-

cal mapping, provided inﬁlled pXRF soil data on 50m x 25m spacing and pro-

vided an opportunity to ground truth potenUal drill pad locaUons.

The ﬁeldwork, combined with pXRF spot rock chip sampling, has provided

conﬁdence that the mineralising system does conUnue to the north, and im-

portantly, that the target zone may in fact be wider than originally thought

due to visible copper mineralisaUon at surface in zones adjacent to the ferrug-

inous quartzite ‘host’ rock. Strong Cu-Co-As anomalism at surface extends

over 800m x 300m.

Figure 2 : Northern Extension zone mineralised outcrop (looking south)

HMX ASX Announcement dated 6 December 2016 “Millennium Mineral Resource EsUmate” . 2

Copper equivalent (CuEq) calculaUon was based solely on commodity prices using prices as

follows: Cu: US$4,600/t; Co: US$27,000/t; Au: US$1,330/oz; and Ag: US$20/oz

Mapping, soil geochemistry and rock sampling conducted by MBK has con -

ﬁrmed, with a high level of detail, anomalous cobalt-copper mineralisaUon in

geological analogues that occur along a poten Ual strike extension in the

northern half of the tenement package (‘Northern Extension’). This area has 3

no previous drilling and provides an excellent opportunity to increase the

overall resource potenUal of the Millennium Project.

MBK proposes to undertake up to 800m RC drilling to test the Northern Ex-

tension target zone, which is scheduled to commence in early August.

Figure 3 : pXRF soil anomalism (Cu-Co-As) and proposed drillholes in Northern

Extension target zone

GEMC News Release dated 6 September 20183

In addiUon to the Northern Extension, the Millennium mining leases also in-

clude the Corella and Federal prospects, along a parallel zone of signi ﬁcant

surface Cu-Co-Au anomalism and historical workings, that are untested by

drilling and provide yet further potenUal to grow the resource base.

Figure 4: Corella Mine shaV showing steep west dipping mineralised strata

The Millennium Project

The Millennium Project is a signiﬁcant advanced copper-cobalt-gold project

with a large deﬁned zone of copper-cobalt mineralisaUon that remains open

for expansion at depth and along strike. Copper-cobalt mineralisaUon is asso-

ciated with shear zones hosted within a sequence of volcanic and sedimentary

units.

The Millennium Project is strategically located on granted mining leases, less

than 20 km from the Rocklands mine site and processing facility and within

the economic and infrastructure hub of Mount Isa, Queensland.

The Mt. Isa Mineral Province is recognized as a world-class mining region,

with more than a quarter of the world’s lead and zinc reserves, 5% of the

world’s silver resources and 1.5% of the world’s copper resources.

The Project presents as an excellent opportunity to acquire a copper-cobalt

asset of signiﬁcant size with potenUal to expand mineralisaUon in close prox-

imity to a processing soluUon and excellent infrastructure within the Mount

Isa region of Queensland.

Hammer Metals Ltd (ASX: HMX) (‘Hammer Metals’) announced a maiden

JORC (2012) resource in 2016 on the Millennium Project completed by Haren 4

ConsulUng, comprised of an Inferred Resource of 5.89 million tonnes @ 1.08

CuEq (using CuEq cutoﬀ of 0.7%), summarised in Table 1 below. The copper

equivalent (CuEq) calculaUon for the Resource was based solely on commodi-

ty prices using the following prices: Cu: US$4,600/t; Co: US$27,000/t; Au:

US$1,330/oz; and Ag: US$20/oz.

Table 1: Millennium JORC (2012) Resource

Geological Seeng and MineralisaUon

The Millennium deposit lies within palaeo-Proterozoic metasediments of the

Quamby-Malbon Sub-province of the Eastern Succession of the Mt. Isa Inlier

within the Corella FormaUon of the Mary Kathleen Group.

MineralisaUon is predominantly hosted within graphiUc metasediments, silt-

stones and ferruginous quartzite. The mineralisaUon, interpreted to be asso-

ciated with the regional Pilgrim Fault, dips steeply to the west and parallels

the main structural geology and straUgraphy. The mineralisaUon is hosted by

north north-east trending shears that exploit competency contrasts between

lithological units and pre-exisUng alteraUon zones. The width and tenor of the

mineralisaUon appears to be strongly inﬂuenced by the host’s propensity for

briGle deformaUon.

Cu Eq Cut-off Tonnes CuEq (%) Cu (%) Co (%) Au (ppm)

1.00% 3,070,000 1.29 0.35 0.14 0.12

0.70% 5,890,000 1.08 0.32 0.11 0.11

HMX ASX Announcement dated 6 December 2016 “Millennium Mineral Resource EsUmate”4

OxidaUon reaches to depths of 25m below surface. Malachite is commonly

observed in the supergene zone. Supergene bornite, chalcocite and covellite,

and chalcopyrite with hypogene bornite and rimmed by covellite, tetra -

hedrite and galena has been idenUﬁed in mineralogical invesUgaUons.

The sulphide mineralisaUon occurs as disseminated pyrite, chalcopyrite, and

bornite with cobalUferous pyrite and cobalUte. Sulphide mineralisaUon is also

contained in sulphide-rich veins, quartz veins and breccias. Several genera -

Uons of veining are evident with veins consisUng of pyrite and pyrite and chal-

copyrite.

GEMC conducted a 10-hole, 1,141 metre drilling campaign on the Millennium

Project during 2017 and 2018 to test the up-dip conUnuity at the Millennium

North deposit and conﬁrm historical esUmates of cobalt mineralizaUon re-

ported in 2016 by Hammer Metals. GEMC were successful in both duplicat5 -

ing historical results, demonstraUng the conUnuity of mineralisaUon within the

mineralised zone and in determining mineralisaUon conUnues to depth, in6 -

cluding 28m @0.35% Cu and 0.2% Co (MIRC026). Signi ﬁcantly, cobalt and

copper mineralisaUon was encountered along the enUre targeted 1500 metre

strike length with the zones remaining open in all direcUons. 7

Figure 5: Physiography of project area showing access and recent drilling.

GEMC News Release dated 19 June 20185

GEMC News Releases dated 17 January 2018, 30 April 2018 , 31 May 2018 and 19 June 20186

GEMC News Release dated 19 June 20187

Qualiﬁed Person

Mr . Paul Sarjeant, P . Geo., is the qualiﬁed person for this release as deﬁned by

NaUonal Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Global Energy Metals Corporation

(TSXV:GEMC | OTC:GBLEF | FSE:5GE1)

Global Energy Metals Corp. o ﬀers investment exposure to the growing

rechargeable baYery and electric vehicle market by building a diversi ﬁed

global porZolio of explora4on and growth-stage baYery mineral assets.

Global Energy Metals recognizes that the prolifera 4on and growth of the

electriﬁed economy in the coming decades is underpinned by the availability

of baYery metals, including cobalt, nickel, copper, lithium and other raw

materials. To be part of the solu 4on and respond to this electri ﬁca4on

movement, Global Energy Metals has taken a ‘consolidate, partner and invest’

approach and in doing so have assembled and are advancing a por Zolio of

strategically signiﬁcant investments in baYery metal resources.

As demonstrated with the Company’s current copper, nickel and cobalt

projects in Canada, Australia, Norway and the United States, GEMC is

inves4ng-in, exploring and developing prospec 4ve, scaleable assets in

established mining and processing jurisdic4ons in close proximity to end-use

markets. Global Energy Metals is targe4ng projects with low logis4cs and

processing risks, so that they can be fast tracked to enter the supply chain in

this cycle. The Company is also collabora 4ng with industry peers to

strengthen its exposure to these cri 4cal commodi4es and the associated

technologies required for a cleaner future.

Securing exposure to these cri4cal minerals powering the eMobility revolu4on

is a genera4onal investment opportunity. Global Energy Metals believe the the

4me to be part of this electriﬁca4on movement.

For Further InformaUon:

Global Energy Metals CorporaUon

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: [email protected]

t. + 1 (604) 688-4219

www.globalenergymetals.com

TwiGer: @EnergyMetals | @USBaGeryMetals | @ElementMinerals

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