Powered by Cobalt … Driven by Demand GLOBAL ENERGY METALS ADVANCES INFILL AND EXTENSION DRILLING AT THE MILLENNIUM COBALT PROJECT IN AUSTRALIA
TSX.V GEMC
www.globalenergymetals.com
Suite 1501,
Sun Tower
128 West Pender St. Vancou-
ver , BC
V6B 1R8
T +1.604.688.4219
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GLOBAL ENERGY METALS ADVANCES INFILL AND
EXTENSION DRILLING AT THE MILLENNIUM COBALT
PROJECT IN AUSTRALIA
Vancouver, BC / TheNewswire / February 21, 2018 / Global Energy
Metals Corp. TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global
Energy Metals”, the “Company” and/or "GEMC") is pleased to
announce that drilling is again underway at the Millennium Cobalt
Project in Mt. Isa, Queensland Australia (“Millennium”). Partner
Hammer Metals is overseeing drill operations.
Paul Sarjeant, VP Projects was on site for the resumption of drilling
this week as part of the first phase exploration program that
continues to focus on infill drilling of existing mineralized zones and
exploring potentially new discoveries and extensions in the immediate
area of Millennium. Drilling completed in December intersected very
wide and significant cobalt and copper grades potentially expanding
the existing JORC resource area.
Mr. Sarjeant had the following to say from site, “We are excited to
be back drilling under blue skies at the Millennium Cobalt Project
and look forward to sharing the findings as we continue to grow the
resource area and understanding. We expect to extend this campaign,
subject to results.”
Figure 1. Drilling in Progress at the Millennium Cobalt Project
Figure 2. Infill Drilling Mineralized Zones at the Millennium Cobalt
Project
Figure 3. Loading Core Rods into Drill Rig at the Millennium Cobalt
Project
The Company has an option to earn a 75% interest in Millennium by
spending exploration expenditures totaling $2,500,000 over the next
three years. At the conclusion of this Phase 1 drill program, the
Company will have spent the required $500,000 on the project to earn
an initial 25% interest in the project.
For additional details on the program, please refer to the Company’s
news release dated February 1, 2018.
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 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.
To date the project area has been tested by only 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 resource area.
For additional information on the Millennium project option please
refer to press release dated September 25, 2017 and/or refer to
Global Energy Metals’ website www.globalenergymetals.com.
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.