Powered by Cobalt … Driven by Demand GLOBAL ENERGY METALS PROVIDES UPDATE ON EXPLORATION DRILLING PROGRAM AT ITS WERNER LAKE COBALT PROJECT
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
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GLOBAL ENERGY METALS PROVIDES UPDATE ON
EXPLORATION DRILLING PROGRAM AT ITS WERNER LAKE
COBALT PROJECT
Vancouver, BC / TheNewswire / September 27, 2018 / Global
Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1
(“Global Energy Metals”, the “Company” and/or "GEMC") is pleased
to announce the following update regarding the continued exploration
drilling program at its Werner Lake Cobalt project (“Werner Lake”
and/or the “Project”) located in Ontario, Canada. The Werner Lake
exploration program is part of a $2.5 million commitment to advance
the project and is being sole funded by Marquee Resources for an
earn-in of up to 70% interest in the Project. Global Energy Metals
currently owns 100% of the Werner Lake Project.
Highlights:
•Following the successful extension of high grade cobalt sulphide
mineralisation in Phase 1 of drilling (WL 18-08, 18-09 and 18-10
awaiting assay results), Phase 2 drill program commenced with 4
additonal holes now completed (WL 18-11, 18-12, 18-13 and 18-14).
•Hole WL 18-11 targeted the down-dip extension of the West Cobalt
Zone, being an undercut of WL 18-07 which was successful in
extending the mineralised zone (Figure 1).
•Assay results from the last 7 holes drilled are expected over the
coming weeks.
•Results from the phase one drill program have further
demonstrated the potential to extend mineralized zones.
•Drilling data from the ongoing exploration program will target
mineralisation at depth having the potential to significantly
increase the existing NI 43-101 Resource at Werner Lake in an
updated resource report.
Following the recent success of drill hole WL 18-07 during Phase 1,
which highlighted an encouraging ~50 metres down dip extension of
previous mineralisation, the geological team decided that WL 18-11
(Figure 1) was to be the first hole to be drilled in the Phase 2 cam-
paign in order to test the potential for further mineralisation below
WL 18-07.
WL 18-07 intersected strong cobalt mineralisation of 0.660% cobalt
over 5.5 metres (from 198.5 metres), including a significant 0.7 m in-
terval (from 198.5 metres) that assayed 3.150% cobalt, though two
significant intervals below this interval assayed over 0.3% cobalt, rep-
resenting a strong zone of mineralisation.
The drilling of holes WL 18-08, 18-09 and 18-10 saw the completion of
the Phase 1 drill campaign. Total metres drilled for Phase 1 were
2,122m. Assays are pending and are expected to be received and re-
leased shortly. The Phase 2 campaign has completed 4 holes to date
and core samples have been sent to the lab for analysis. The total
metres completed so far for Phase 2 is 1,520 metres.
The Company will continue to release assay results as soon as practi-
cal after having been received, reviewed and analysed.
Figure 1: Simplifed Cross Section 359,700
350!m!
300!m!
250!m!
200!m!
150!m!
100!m!
50!m!
5.5!m!@!0.660%!Co!
J-065! J-060!
J-066!
J-062!
J-061!
WL-10-019!
J-046!
1.43!m!@!0.471%!Co!
0.75!m!@!0.166%!Co!
4.68!m!@!0.373%!Co!
4.16!m!@!0.183%!Co!
2.27!m!@!0.327%!Co!
0.98!m!@!3.215%!Co!
4.84!m!@!0.808%!Co!
1.0!m!@!0.470%!Co!
1.0!m!@!0.250%!Co!
3.78!m!@!0.171%!Co! 0.75!m!@!0.260%!Co!
1.0!m!@!0.270%!Co!
50!m!
100!m!
150m!
200m!
250m!
WL!18-07!
WL!18-11!
WL!18-07!
EOH!275!m!
WL-10-019!
2.4m!@!0.141%!Co!
3.0!m!@!0.384%!Co!
Historic!Drill!Intercept!
Marquee!Drill!Intercept!
N!
S!
200m!
150m!
250m!
300m!
350m!
WL!18-11!
EOH!371!m!
Werner!Lake!Project!
Section!359,700!E!
Historic!Drill!Hole!
Current!Drill!Hole!
Mineralised!Zone!
0 25! 50! 100!
metres!
Private Placement:
On September 20th, the Company announced a $500,000 Private
Placement with net proceeds being used for the completion of the
recently announced cobalt project acquistions , for marketing
initiatives as well as general working capital requirements.
The Private Placement will consist of the issuance of a maximum of
6,666,667 units (the “Units”) at a subscription price of CAD$0.075 per
Unit. Each Unit will be comprised of one common share of the
Company (a “Share”) and one transferable common share purchase
warrant (a “Warrant”). Each Warrant will be exercisable to purchase
an additional Share of the Company for a period of 12 months from
the closing date (“Closing Date”) at a price of CAD$0.15 subject to
acceleration.
All securities issued in connection with the Private Placement will be
subject to a statutory hold period of 4 months plus a day from the
Closing Date in accordance with applicable securities legislation.
Warrants are subject to an acceleration clause whereby if on any 10
consecutive Trading Days occurring after four months and one day has
elapsed from the Closing Date, the daily volume weighted average
trading price of the common shares of the Company is at least $0.20
per share, the Company may accelerate the expiry date of the
Warrants to the 30th day after the date on which the Company gives
notice to the Subscriber in accordance with the Warrant of such
acceleration. Finder's fees may be paid in connection with this
Offering. Closing of the Private Placement is subject to the approval
of the TSXV .
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.