Powered BY Cobalt … Driven BY Demand High Grade Cobalt Mineralisation Continues to Be Drilled at the Werner Lake Cobalt Project; Assays Confirm Extension of Mineralisation at Depth
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HIGH GRADE COBALT MINERALISATION CONTINUES TO BE
DRILLED AT THE WERNER LAKE COBALT PROJECT; ASSAYS
CONFIRM EXTENSION OF MINERALISATION AT DEPTH
Vancouver, BC / TheNewswire / August 15, 2018 / Global Energy
Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1
(“Global Energy Metals”, the “Company” and/or "GEMC") is pleased
to announce that partner Marquee Resources has received assay
results for the next five of eight holes drilled at the summer work
program at the Werner Lake Cobalt project (“Werner Lake”), 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 under the final terms of the agreement announced
February 28, 2018.
Highlights:
•Confirms an extension of mineralisation at depth with further
high-grade cobalt mineralisation intersected in the second
batch of assays received from Phase 1 drilling at Werner Lake.
Results included:
•5.5 m @ 0.660% Co from 198.5 m in WL 18-07
•Including 0.7m @ 3.15% Co
•2.7 m @ 0.354% Co from 189.0 m in WL -18-06
•Including 0.7m @ 0.67% Co
•8 holes have now been completed for a total 1,588m at the
Werner Lake Project as part of Marquee’s Phase 1 drilling cam-
paign. Results for hole WL 18-08 will be reported when avail-
able. With two further holes remaining in Phase 1.
•Based on the successful drilling results during Phase 1, the
Phase 2 drill program will commence immediately following the
completion of holes WL 18-09 and WL 18-10, and will target
further extensions to mineralisation at depth.
•Marquee is confident the assays received from the Phase 1
drilling campaign will increase the existing NI 43-101 Resource
of 79,400 Tonnes @ 0.43% Co.
•Historical total mine production at the Werner Lake Project
was reported at 143,386 lbs of cobalt grading approximately
2.2% cobalt and 0.75 % copper.
Marquee Managing Director, Charles Thomas commented:
“We are extremely encouraged to have intersected such high grade
cobalt mineralisation in Phase 1 of Marquee’s drilling program. WL
18-07 is one of the best holes that has ever been drilled at Werner
Lake and indicates the potential for this deposit to grow in both size
and grade at depth.”
Paul Sarjeant, VP Projects and Director of GEMC said:
“Results from this drill program have further demonstrated the po-
tential for mineralized zones. Marquee’s technical team is incorpo-
rating the new drilling data into the geological model and is develop-
ing a follow up drilling program which will target mineralisation at
depth having the potential to significantly increase the existing NI
43-101 Resource at Werner Lake.”
Table 1. Significant Diamond Drill Results at Werner Lake Cobalt
Project
WL 18-03 (Figure 1) was designed to test down dip potential of the
mineralised zone on Section 359,660 E from Canmine drill hole J-041
(4.76m @ 0.426% Co). The hole encountered zones of sulphide miner-
alisation where expected based on historical data (Figure 1) repre-
senting an approximately 40 m extension of mineralisation. WL 18-04
encountered weak sulphide mineralisation in drill core and elevated
cobalt values were observed (Table 1) where expected, indicating the
mineralised horizon continues further at depth (Figure 1).
Drill Hole From
(m)
To
(m)
Intercept
(m)
Co
(%)
Cu
(%)
WL 18-03 95.5 96.5 1.0 0.1650.164
101.0 102.6 1.6 0.1070.344
WL 18-04 118.1 119.2 1.1 0.0430.146
WL 18-05 148.7 150.4 1.7 0.1890.094
WL 18-06 189.0 191.7 2.7 0.3540.313
Incl. 189.0 189.7 0.7 0.672 0.819
WL 18-07 198.5 204.0 5.5 0.6600.124
Incl. 198.5 199.2 0.7 3.150 0.056
Figure 1. Simplified Cross Section 359,660 E
WL 18-05 and WL 18-06 (Figure 2) were designed to extend minerali-
sation to depth along Section 359,675 E. WL 18-05 (Table 1) returned
0.189% Co over 1.7 m (from 148.7 m) and was successful in extending
mineralisation approximately 40 m beneath Canmine drill hole
J-112. WL 18-06 (Figure 2) was drilled from the same collar as WL
18-05 to further extend mineralisation. The hole returned strong
cobalt mineralisation of 0.345% Co over 2.70 m from 189.0 m, includ-
ing a high grade zone of 0.672% over 0.70 m (from 189.0). This inter-
cept represents the deepest mineralisation on this section and indi-
cates strong cobalt mineralisation in an area that had poor results
during the Puget Ventures 2010 drill campaign. Additional drilling wil
be undertaken to assess the potential extension to mineralisation.
Figure 2. Simplified Cross Section 359,675 E
WL 18-07 tested the depth extension on mineralisation Section
359,700 E (Figure 3). Very strong cobalt mineralisation over a signifi-
cant width was encountered; 0.660% Co over 5.5 m (from 198.5 m).
Of particular significance was a 0.7 m section (from 198.5) of 3.150%
Co, though two significant intervals below this interval ran over 0.3%
Co, suggesting a strong zone of mineralisation was intersected. This
represents an approximate 50m down dip extension of mineralisation.
Figure 3. Simplified Cross Section 359,700 E
The Company has now completed 8 holes for 1,588m at the Werner
Lake Project as part of its phase one drilling campaign (Figure 4). Re-
sults for hole WL 18-08 are pending and will be reported when avail-
able.
The Company has been informed by the relevant authorities that the
wildfire that was previously buring in the Werner Lake area is now
sufficiently under control to allow the Company to recommence
drilling activities at the Werner Lake Cobalt Project and the drilling
team is expected to be remobilised over the coming 24 hours.
Figure 4. Werner Lake Drill Hole Location Map
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
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forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
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