Powered BY Cobalt … Driven BY Demand Global Energy Metals Opens Significant Exploration Potential at Lovelock MINE via Data Reinterpretation Study
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GLOBAL ENERGY METALS OPENS SIGNIFICANT
EXPLORATION POTENTIAL AT LOVELOCK MINE VIA DATA
REINTERPRETATION STUDY
Vancouver, BC / TheNewswire / November 9, 2020 / Global Energy
Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1
(“Global Energy Metals”, the “Company” and/or “GEMC”) is
pleased to provide an exploration update for the Lovelock Mine
project ("the Project"), which includes results from the reprocessing
and reinterpretation of existing data including that from the positive
airborne magnetic and orthophoto digital surveys that were
conducted at the cobalt-nickel-copper prospective project in Nevada.
The Company recently engaged SJ Geophysics Ltd. (“SJ Geophysics”)
to review the airborne magnetic data and assemble a complete,
extensive, comprehensive and detailed data compilation and
interpretation program including a 3D inversion model showing a
possible subsurface distribution of the magnetic susceptibility
property of the rocks (the “SJ Study”) for its recently acquired and
highly prospective Lovelock Mine & Treausre Box Projects, located
approximately 150km (100mi) east of Reno in the Stillwater Range,
Churchill County, Nevada.
The SJ Study has led to a new interpretation of the regional structure
of the Lovelock property, specifically in the vicinity of the historical
mining of high-grade cobalt and nickel that occurred at the Lovelock
Mine and those areas in close proximity that were previously
identified as high priority targets.
Timothy Strong, Project Development Manager commented:
“Given the positive airborne geophysics combined with historic
findings including a ground IP survey along with underground mapping
and sampling data, we are increasing our understanding of the
geological potential of the Lovelock Mine area.”
“The re-interpretation of the 2019 airborne magnetic and orthophoto
surveys suggest that the Lovelock Mine is located within a corridor of
strong structural control with several subparallel structures
indicating the potential for multiple mineralized zones related to
these structures. Importantly, the SJ Study has identified high-
priority drill targets which would complement the exploration
fieldwork previously conducted.”
Highlights of the Study:
•Re-interpretation has significant implications for further exploration
at the Project including greatly enhancing the Company’s ability to
successfully target and drill newly defined anomalies;
•The magnetic data implies the basalts and sedimentary rocks that
host the known Lovelock deposits extend another 2.5 km to the
northwest of the Lovelock Mine (see Figure 1);
•Inversion modelling suggests a cluster of chargeability anomalies
mapped to the west of the Lovelock Mine could be centred by a
subtle, low susceptibility pipe or cone structure. This could be an
indication of an intrusion or possible feeder zone to a hydrothermal
system;
•There are a total of eighteen magnetic high anomalies mapped
across the survey that could be reflecting alteration with a possible
response of reflecting an accumulation of magnetite, one of the
accessory minerals reported with both the Nickel and Lovelock
deposits (see Figure 2);
•All of these magnetic anomalies model as small lenses, extending
from surface to around 150 metres depth;
•Many of these localized magnetic targets cluster together, forming a
ring surrounding a localized magnetic low. Four of these ring-type
structures are mapped within the survey area. These responses can
be interpreted as mapping an alteration zone surrounding a low
susceptibility intrusive plug (see Figure 2); and
•Chargeability anomalies have been targeted with eight (8) proposed
drill holes (see Figure 3).
Figure 1. Contact Interpretation of Total Magnetic Field Intensity
Colour Contour Map, Filice Geology overlay
Figure 2. Magnetic anomalies over shadow enhanced TFM Colour
Contour Map. Illumination from southwest
Figure Notes: Black hashed ellipses flag high magnetic anomalies.
Dashed circles reflect possible intrusive systems.
Figure 3. Mag3d Inversion Model Isosurface. Chargeability Inversion
Model Isosurfaces. Side view from South.
Figure Notes. Magnetic Isosurfaces: Blue translucent = -0.006 SI, Blue
solid =-0.0065 SI. Chargeability Isosurfaces Green Translucent = 9ms,
Solid Green = 10ms DEM colour contour map draped over ground
surface.
Mitchell Smith, CEO & Director commented:
"We are very pleased to see such exciting results come from early
first steps in our on-going program to leverage the latest geological
thinking and geophysical technology towards systematically
rethinking key aspects of this nickel-cobalt-copper district.”
"While at a preliminary stage, the new reinterpretation is a rethink
of the structural framework of the Lovelock Mine area and could be
transformational for the Project as we continue to evaluate the
regional exploration potential across our significant land holdings
and the overlooked part of this mineral rich district in Nevada.”
The Company believes that the SJ Study, extending from previously
mined orebodies to key undeveloped prospects and exploration
targets, greatly enhances the Company’s ability to successfully target
and explore for new, buried, high-grade cobalt-nickel-copper deposits
across the large footprint in a highly prospective mining district. The
model’s construction is seen as a priority for future exploration
including undertaking additional IP surveying, geological prospecting
and mapping the chargeability targets prior to a diamond drilling
program consisting of a suggested 8 holes, totaling 1138 metres.
Qualified Person
Mr. Paul Sarjeant, P . Geo., 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.
About SJ Geophysics Ltd.
SJ Geophysics Ltd. and its subsidiary S.J.V . Consultants Ltd. provide
geophysical contracting and consulting services to the global mineral
exploration community. Ground geophysical surveys have been
conducted in over 30 countries on 6 continents in a wide range of
conditions and geologic environments. SJ Geophysics has developed a
proprietary Volterra Distributed Acquisition System, a modern multi-
method geophysical system, capable of acquiring 2D/3DIP , EM, MT ,
and Borehole data. The company has worked on a wide range of
deposit types across the world and has significant experience with 3D
magnetic and 3D induced polarization modeling and interpretation.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused on offering investment exposure to
the raw materials deemed critical for the growing rechargeable
battery market, by building a diversified global portfolio of battery
mineral assets including project stakes and sector specific equity
positions. GEMC anticipates growing its business through the
acquisition and development of battery mineral projects alongside
key strategic partners. The Company holds 100% of the Millennium
Cobalt Project and two neighbouring discovery stage exploration-
stage cobalt assets in Mount Isa, Australia positioning it as a leading
cobalt-copper explorer and developer in the famed mining district in
Queensland, Australia. The Company is finalizing on the acquisition of
an 85% interest in two battery mineral projects, the Lovelock Cobalt
Mine and Treasure Box Project, located on the doorstep of the world’s
largest lithium-ion battery production plant, GigaNevada that Tesla
Motors Ltd. and partner Panasonic Corp. have built in Nevada, USA.
Additionally, the Company holds a 70% interest in the past-producing
Werner Lake Cobalt Mine project in Ontario, Canada.
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
Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals
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.