Powered BY Cobalt … Driven BY Demand Global Energy Metals Receives Approval to Complete ON 85 Percent Ownership Stake IN Nevada Based Nickel, Copper & Cobalt Projects
TSX.V GEMC
www.globalenergymetals.com
Suite 1501,
Sun Tower
128 West Pender St. Vancouver,
BC
V6B 1R8
T +1.604.688.4219
TwiGer @EnergyMetals
Powered by Cobalt … Driven by Demand
GLOBAL ENERGY METALS RECEIVES APPROVAL TO
COMPLETE ON 85 PERCENT OWNERSHIP STAKE IN
NEVADA BASED NICKEL, COPPER & COBALT
PROJECTS
Vancouver, BC / TheNewswire / September 17, 2020 / 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 received TSXV Exchange approval and will be moving
forward with the acquisiQon of an 85% interest in the in the Nevada-based
Lovelock Mine and Treasure Box baGery minerals projects . Please refer to the
Company’s news release dated April 7, 2020 for details on the terms of the
accelerated ownership of the highly prospecQve nickel, cobalt and copper
enriched projects.
Historic work along with preliminary exploraQon conducted by Global Energy
Metals in 2019 confirms the prospecQve nature of the project and provides
the Company with an excellent opportunity to unlock the potenQal value of
the deposit through future work.
The accelerated ownership stake in the Nevada-based projects also provides
the Company and its shareholders with a U.S. footprint and controlling stake
in high-potenQal, growth-stage exploraQon projects in a well established
mining district all at a Qme when there is a global transiQon towards securing
stable, domesQc supply chains of cleaner materials and renewable energy
sources that rely on these criQcal baGery metals.
Mitchell Smith, President & CEO commented:
“This is a significant and strategic acquisi1on in that we believe the Lovelock
Mine and Treasure Box projects, located just 150km from Sparks, Nevada,
establishes new discovery poten1al by adding key explora1on targets in a
superior mining district while complemen1ng the Company’s strong porIolio
of baJery mineral assets that are also located in geopoli1cally safe mining
jurisdic1ons.”
“The Lovelock Mine and Treasure Box projects provide tremendous
opportunity to further strengthen our exposure to cobalt, nickel and copper -
cri1cal minerals that are the core building blocks fuelling the electrifica1on of
vehicles and new energy storage.”
Overview of the Lovelock Mine Project
The Property currently consists of 81 unpatented lode claims in the
CoGonwood Canyon area of the SQllwater Range totaling approximately 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
producQon of nickel, copper and cobalt beginning in 1883. The primary cobalt
mineral was idenQfied as “cobalQte”. The general average of the 200 tons
shipped in 1886 averaged 14 percent cobalt and 12 percent nickel (Source:
“Mineral Resources of the United States for 1885” , 1886). The mine operated
from 1883 to 1890 to the 100 foot level, reporQng approximately 200 tons of
cobalt and nickel mineralized material shipped to England for processing.
Ager intermiGent producQon, an English company aGempted smelQng on site
in 1898 but liGle or no producQon was made. No further producQon from the
Lovelock Mine is known for well over a century. Results from Global Energy
Metals’ iniQal program in 2019 at the baGery minerals project in Nevada
confirmed the potenQal of the overall land package and indicated
considerable promise. Given the scale and prospecQve nature of this baGery
minerals discovery, unlocking value from Lovelock and Treasure Box will be
the primary focus of the company’s 2020 exploraQon plan. The iniQal work
program conducted in 2019 focused on defining structural controls in the
known baGery metal-rich areas. Results of this work proved successful in
defining structures and connecQng mineralized zones into broader targets in
preparaQon for an inaugural drilling program. Given the very large exploraQon
area, producing a property-wide geological interpretaQon and model of the
structures and mineralizaQon is an immediate priority and integral to a 2020
drill program. CompilaQon of historic data and recently completed work
should lead to a beGer understanding of the controls of mineralizaQon and
allow the Company to unlock the cobalt, nickel and copper potenQal from
GEMC’s Nevada-based projects. The Company will focus its exploraQon
program in the area central to the past-producing Lovelock Mine and will
commence a first-ever drilling program to test the extent of mineralizaQon. If
assay results are encouraging then it is expected that addiQonal holes will be
drilled to test strike extent.
Overview of the Treasure Box Project
Treasure Box hosts mine workings from limited copper producQon, which
occurred unQl 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
mineralizaQon beginning at surface. A reverse circulaQon hole drilled on the
Treasure Box by Utah InternaQonal 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
reportedly stopped in chalcopyrite mineralizaQon. The core Treasure Box
claims were held conQnuously for over 20 years by a private company but
were relinquished in September 2017, leading to their acquisiQon by Nevada
Sunrise and now Global Energy Metals. Historic work and the prospecQve
nature of the project provides Global Energy Metals with an excellent
opportunity to unlock the potenQal value of the deposit through further
exploraQon work.
Figure 1. Loca1on Map of the Lovelock Mine & Treasure Box Projects
Qualified Person
Mr . Paul Sarjeant, P . Geo., is the qualified person for this release as defined by
NaQonal Instrument 43-101 - Standards of Disclosure for Mineral Projects and
has reviewed and verified the technical informaQon contained herein.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals provides investors and partners with exposure to the
immediate need for metals criQcal to the new energy economy by building a
diversified global poriolio of cobalt and baGery metals rich projects in top-
Qer mining jurisdicQons with exploraQon & development upside to become a
supply chain soluQon to safe and reliable cobalt for downstream partners.
Global Energy Metals holds 100% of the Millennium Cobalt Project and two
neighbouring discovery stage exploraQon-stage cobalt assets in Mt. Isa,
Australia. It also currently owns 70% of the Werner Lake Cobalt Mine in
Ontario, Canada and is finalizing an accelerated acquisQon of an 85% interest
in two cobalt-nickel-copper exploraQon projects in Nevada, 150km East of the
Tesla Gigafactory.
For Further Information:
Global Energy Metals CorporaQon
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
Graham AbboG:
TwiGer: @EnergyMetals
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.