Powered by Cobalt … Driven by Demand GLOBAL ENERGY METALS GRANTS STOCK OPTIONS AT A FIFTY PERCENT PREMIUM TO LAST TRADING DAY
TSX.V GEMC
www.globalenergymetals.com
Suite 1501,
Sun Tower
128 West Pender St. Vancou-
ver , BC
V6B 1R8
T +1.604.688.4219
Twitter @EnergyMetals
Powered by Cobalt … Driven by Demand
GLOBAL ENERGY METALS GRANTS STOCK OPTIONS AT A
FIFTY PERCENT PREMIUM TO LAST TRADING DAY
Vancouver, BC / TheNewswire / June 11, 2018 / Global Energy
Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1
(“Global Energy Metals”, the “Company” and/or "GEMC") is pleased
to announce that it has, subject to regulatory approval, granted
directors, officers, advisors and consultants of the Company incentive
stock options to purchase an aggregate of 1,235,000 common shares.
The options have a term of five years and allow the holder to
purchase one common share in the Company at a price of $0.15, a
fifty percent (50%) premium to the share price as of the last trading
day. GEMC also announces that it has cancelled 66,547 options
previously granted to certain advisors of the Company.
Global Energy recently announced a series of consistent long
intercept cobalt results f r o m a s s a y s f o r 6 d r i l l h o l e s f r o m t h e
Millennium Cobalt Project, an advanced exploration project with a
JORC (2012) resource. The Company’s current campaign of drilling
comprises a total of 10 diamond holes with six of the holes having
now been reported, all demonstrating wide intercepts of cobalt and
copper mineralisation with high-grade cobalt zones. The drilling
program was designed to test the up-dip continuity at the Millennium
North deposit. Drilling results correlate well with the previous deeper
drilling with the further delineation of wide zones of cobalt and
copper mineralisation.
A full list of drill results completed thus far can be found in news
releases dated May 31, 2018, April 30, 2018 and January 17, 2018.
Rock chip sampling h a s a l s o b e e n c o n d u c t e d t o t e s t f o r a d d i t i o n a l
zones of cobalt and copper mineralisation along the Millennium trend
and in particular the northern strike extension (“Northern Extension”)
where similar host rock units and strong soil geochemical anomalies
are located. This zone is located approximately 1 kilometre north of
the current Millennium resource as defined. Results indicate high
priority targets for further work to expand the known resource area.
The presence of anomalous cobalt and copper in rock chip samples
and analogous geology between the Millennium resource area and the
Northern Extension indicate that this area is a priority target for
further investigation.
The Millennium Cobalt Project:
Millennium is an advanced staged cobalt project with a large defined
zone of cobalt-copper mineralisation which remains open at depth
and along strike. Hammer Metals completed a JORC (2012) Resource
estimate in late 2016 and reported 3.1 million tonnes of Inferred
Resources* grading 0.14% Co, 0.34% Cu and 0.12 g/t Au (using a CuEq
cut-off of 1.0%). Under Canadian reporting standards this resource is
considered a “historic estimate”. The 2016 JORC (2012) resource
estimate completed by Hammer Metals Ltd. outlined a mineralised
zone over a strike length of approximately 1.5 km.
Cobalt-copper mineralisation is associated with shear zones hosted
within a sequence of volcanic and sedimentary units. Additional
mapping, soil geochemistry and rock sampling has identified an
additional 1.5 km of anomalous cobalt-copper mineralisation in
geological analogues that occur along a potential strike extension in
the northern half (“Northern Target”) of the tenement package. This
area has not been tested with any drilling to date. The Northern
Target provides excellent opportunity to increase the overall resource
potential of the Millennium project.
Prior to GEMC’s involvement, the area had been tested by 63 drill
holes (percussion, RC and diamond) for a total of 7,891 metres. Most
holes have been drilled within 200 metres of surface, with few holes
reaching to depths greater than 250 metres below surface. At present
mineralisation remains open at depth along the strike extent of the
JORC (2012) resource area.
*This work was based on a technical report by Haren Consulting Pty
Ltd., issued November 29, 2016 conforming to JORC (2012) reporting
standards for resources estimates. As Hammer uses JORC (2012)
categories, it should be noted that the confidence in the estimate of
JORC (2012) inferred mineral resources is usually not sufficient to
allow the results of the application of technical and economic
parameters to be used for detailed planning. For this reason, there is
no direct link from an inferred resource to inferred resource as
defined under NI 43-101. However, the Company deems this resource
still relevant because economic parameters have not changed
significantly since publication date and the Company has confidence
in the estimate based on review of technical data. A qualified person
has not done sufficient work to classify the historical estimate as
current mineral resources or mineral reserves and the issuer is not
treating the historical estimate as current mineral resources or
reserves. CuEq% = Cu% +(Co%*5.9) +(Au ppm*0.9) +(Ag ppm*0.01).
Price assumptions utilised by Hammer for the JORC (2102) resource
estimate and drill hole intercepts are (in USD); Au - $1,300/oz, Ag -
$20/oz, Co - $27,000/t and Cu - $4,600/t.
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.
Neither TSX Venture Exchange nor its Regulation 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.