GEMC.V · 2023-10-11 12:00:00

Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces Strategic Review of Its Nevada-Based Lovelock and Treasure Box Copper-Nickel- Cobalt Projects; Engages Dahrouge Geological to Prepare Technical Report

Mergers & Acquisitions

TSX.V GEMC

www.globalenergymetals.com

Suite 1501,

Sun Tower

128 West Pender St. Vancouver,

V6B 1R8

T +1.604.688.4219

TwiGer @EnergyMetals

GLOBAL ENERGY METALS ANNOUNCES STRATEGIC REVIEW OF ITS

NEVADA-BASED LOVELOCK AND TREASURE BOX COPPER-NICKEL-

COBALT PROJECTS; ENGAGES DAHROUGE GEOLOGICAL TO

PREPARE TECHNICAL REPORT

Vancouver, BC / TheNewswire / October 11, 2023 / Global Energy Metals

CorporaUon TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy

Metals” , the “Company” and/or “GEMC”) , a mulK-jurisdicKonal, mulK-

commodity criKcal mineral exploraKon and development company focused on

growth-oriented baGery metal projects supporKng the global transiKon to

clean energy, is pleased to announce that it will undertake a strategic review

of the Company’s Lovelock Mine and Treasure Box projects (the “Projects)

located in Nevada, USA . This strategic review follows the successful

negoKaKon and closing of the consolida Kon of 100% ownership in the

Projects. GEMC holding 100% ownership of the Projects simpliﬁes decision-

making and provides the opKmal structure to oversee the rapid exploraKon

and development of key U.S. based baGery minerals projects at a Kme when

securing future supply of criKcal minerals required for a North American

baGery supply chain is a top priority.

Mitchell Smith, Global Energy Metals’ CEO and Director, said:

“Lovelock Mine and Treasure Box are highly prospec8ve, drill ready, copper,

nickel, cobalt explora8on projects, posi8oning these assets as a high-priority

for future development to poten8ally beneﬁt from the near to mid-term

expected supply shortages with baBery minerals. Addi8onally, the Projects are

located in Nevada, a strong mining jurisdic8on with a history of support for

the development and opera8on of base-metal projects. We will consider all

poten8al op8ons that result from this tac8cal review and see this well-8med

calculated undertaking as a way to maximize value for shareholders.”

The decision to undertake a strategic review of the Projects has been prompt-

ed by the ongoing developments in the baGery metals market and the struc-

tural misalignment of ﬂat or declining supply versus growing demand. On-

shoring of domesKc supply of criKcal minerals is a top objecKve for the United

States and the Company believes these projects have the potenKal to play a

role in the growing baGery metals market.

The strategic review will consider, evaluate and compare a broad selecKon of

potenKal opKons for the purpose of idenKfying opportuniKes to maximize the

value for the Company’s shareholders. As part of the strategic review, GEMC

has engaged Dahrouge Geological Consul Kng USA Ltd. (“Dahrouge

Geological”) to undertake a detailed evaluaKon of the Projects and in doing so

prepare a NaKonal Instrument 43-101 compliant technical report for one or

both of the Projects. GEMC previously engaged Dahrouge Geological for min-

eral exploraKon acKviKes at the Projects. They carried out a number of explo-

raKon iniKaKves to ground truth the Earthlabs Inc.’s ﬁndings and further de-

ﬁne the scale and scope of the prospec Kve Nevada-based baGery metals

projects. The work conducted by Dahrouge Geological was successful in iden-

Kfying exisKng nickel, cobalt, copper and silver showings within the property

boundaries, as well as idenKfying potenKal mineralized trends along proposed

faults and lithologic contacts.

As highlighted by recent successes in GEMC’s ability to aGract well funded,

technically inclined and jurisdicKonally experienced groups to projects GEMC

idenKﬁed and has exposure to in its porfolio, the company believes this is an

opportunity to conduct a strategic review which could involve a potenKal sale

of all or part of the Projects, a merger or other business combina Kon with

another party, the forming of a separate company to hold these mining

assets.

Recent examples of the Company’s moneUzaUon strategy include:

• Råna, Norway - Strategic partnership with Kingsrose Mining to advance the

Råna Nickel-Copper-Cobalt Project in Norway. Kingsrose has commi Ged to

spend up to $15 million in exploraKon expenditures. AnalyKcal results from

the ﬁrst two diamond drill holes at the Bruvann prospect at the Råna project

include the intercepKon of high-grade massive sulphide nickel-copper-cobalt

mineralisaKon. Drilling results conﬁrm that mineralisaKon at Bruvann remains

open along strike from exisKng mine infrastructure with encouraging high

grade nickel sulphides with substanKal widths of mineralisaKon.

• Millennium, Australia - Partner funded work by Metal Bank Ltd. delivers

substanKal resource tonnage and grade increase at the Millennium Cobalt-

Copper-Gold Project. Next steps include addiKonal metallurgical drilling and

test work leading to scoping and subsequently pre-feasibility studies.

• Werner Lake, Canada - High-Tech Metals raises AUD $4.718M, lists on the

ASX and completes on acquisiKon of the Werner Lake Cobalt Copper Project.

High-Tech plans to build on the recent exploraKon success at Werner Lake

that conﬁrmed not only the copper-cobalt potenKal of the project, but also

the discovery of high-grade nickel sulphide at surface, and will immediately

begin planning exploraKon on the newly acquired Projects. GEMC holds a

7.61% interest in High-Tech Metals.

• Mount Isa, Australia - Divested an 80% interest in the Mount Dorothy and

Cobalt Ridge projects, two copper-cobalt-gold exploraKons projects located in

Mount Isa, Queensland Australia . In consideraKon of the 80% interest, GEMC

subsidiary Element was granted a 1% NSR on each of the Mount Isa Projects

and Hammer will incur all costs associated with project advancement

including exploraKon, maintenance and holding costs up unKl compleKon of a

Pre-Feasibility Study.

All parKes interested in more informaKon regarding the strategic review

process should contact the Company directly.

About Lovelock

The Property currently consists of 81 unpatented lode claims in the

CoGonwood Canyon area of the SKllwater Range totaling approximately 1,586

acres (642 hectares). It was discovered by George Lovelock and Charles Bell

about 1880. According to U.S. Government annual reports, the Lovelock Mine

saw limited producKon of nickel, copper and cobalt beginning in 1883. The

primary cobalt mineral was idenKﬁed as “cobalKte”. The general average of

the 200 tons shipped in 1886 averaged 14 percent cobalt and 12 percent

nickel. The mine operated from 1883 to 1890 to the 100 foot level, reporKng

500 tons of cobalt and nickel mineralized material shipped to England for

processing. Aper intermiGent producKon, an English company aGempted

smelKng on site in 1898 but li Gle or no producKon was made (Source:

“Mineral Resources of the United States for 1885” , 1886). No further

producKon from the Lovelock Mine is known for well over a century providing

GEMC an excellent opportunity to unlock the potenKal value of the deposit

through exploraKon work. In a recent drill program at Lovelock by GEMC,

elevated values of cobalt, nickel and copper were intercepted in three of the

holes which targeted possible mineralizaKon beneath the historical mine

workings.

About Treasure Box

Treasure Box hosts mine workings from limited copper produc Kon, which

occurred unKl early into the 20th century. A historical diamond drill hole (circa

1910) drilled at the Treasure Box by the Boyer-Nevada Copper Company

reportedly intersected 1.52% copper over 85 feet (25.9 metres) with

mineralizaKon beginning at surface. A reverse circulaKon hole drilled on the

Treasure Box by Utah InternaKonal in 1976 returned 1.55% copper over 40

feet (12.2 metres) from a depth of 85 to 125 feet (25.9 to 38.1 metres), and

the hole was stopped in chalcopyrite mineralizaKon. The core Treasure Box

claims were held conKnuously for over 20 years by a private company but

were relinquished in September 2017, leading to their acquisiKon by Nevada

Sunrise. GEMC received approval from the US Bureau of Land Management

(the “BLM”) for a proposed exploraKon and drill plan at the Treasure Box

project that includes up to thirteen (13) verKcal drill holes from thirteen (13)

diﬀerent locaKons. Planned drill hole lengths range from 350 feet (107

metres) to 500 feet (152 metres). Total drilling is anKcipated to be 5,850 feet

(1,784 meters), with a minimum drilling length of three (3) drill holes totaling

1,350 feet (412 metres). Depending on ﬁndings, individual drill hole lengths

could be extended by 30 to 50 feet (10 to 15 metres) as determined by the

company’s on-site representaKve. The targeted prospects have been

idenKﬁed by Global Energy Metals through a systemaKc exploraKon program

over the past several months that has included an airborne magneKc survey,

reinterpretaKon of historical Induced PolarizaKon (IP) data, detailed mapping

and desktop review of historical data including past drilling.

About Dahrouge Geological ConsulUng Ltd.

Dahrouge Geological is a North American mineral exploraKon, consulKng, and

project management group with oﬃces in Canada and the United States. They

provide professional geological, logisKcal, and project management services

to the world’s mining and mineral resource industry including project

generaKon, program design, geophysics, project evalua Kon and mine site

operaKons.

Qualiﬁed Person

Mr . Paul Sarjeant, P . Geo., a Director and shareholder is the qualiﬁed person

for this release as deﬁned by NaKonal Instrument 43-101 - Standards of

Disclosure for Mineral Projects.

For Further InformaUon:

Global Energy Metals CorporaKon

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: [email protected]

t. + 1 (604) 688-4219

www.globalenergymetals.com

TwiGer: @EnergyMetals | @USBaGeryMetals | @ElementMinerals

Global Energy Metals CorporaUon

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

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

rechargeable baBery and electric vehicle market by building a diversi ﬁed

global porPolio of explora8on and growth-stage baBery mineral assets.

Global Energy Metals recognizes that the prolifera 8on and growth of the

electriﬁed economy in the coming decades is underpinned by the availability

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

materials. To be part of the solu 8on and respond to this electri ﬁca8on

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

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

strategically signiﬁcant investments in baBery metal resources.

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

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

inves8ng-in, exploring and developing prospec 8ve, 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 collabora 8ng with industry peers to

strengthen its exposure to these cri 8cal commodi8es and the associated

technologies required for a cleaner future.

Securing exposure to these cri8cal minerals powering the eMobility revolu8on

is a genera8onal investment opportunity. Global Energy Metals believes Now

is the Time to be part of this electriﬁca8on movement.

CauUonary Statement on Forward-Looking InformaUon:

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 diﬀer materially from

those in the forward-looking statements. Except as required by law, the

Company undertakes no obliga 8on 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 obliga8ons, including uncertain8es rela8ng to the ul8mate geographic

spread of the virus, the severity of the disease, the dura8on of the outbreak,

and the length of travel and quaran8ne 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.

Neither TSX Venture Exchange nor its Regula8on Services Provider (as 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.

← Back to feed