Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces Initial Work Program FOR Accelerated Resource Growth at Millennium Cobalt Project
TSX.V GEMC
www.globalenergymetals.com
Suite 1501,
Sun Tower
128 West Pender St. Vancouver,
BC
V6B 1R8
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Powered by Cobalt … Driven by Demand
GLOBAL ENERGY METALS ANNOUNCES INITIAL WORK PROGRAM
FOR ACCELERATED RESOURCE GROWTH AT MILLENNIUM COBALT
PROJECT
Vancouver, BC / TheNewswire / October 11, 2017 / Gl obal Energy Metals
Corp. TSXV:GEMC | FSE:5GE1 (“Global Energy Metals”, the “Company”
and/or "GEMC") is pleased to report the Company’s plans for exploration and
development activities at the Millennium Cobalt Pro ject in Mt. Isa, Australia
following today’s earlier announcement of a non-bro kered private placement
of up to $1 million (the "Offering"). The program i s anticipated to commence
during the first week of November.
The net proceeds of the Offering will allow GEMC to fund the initial stages of
exploration including infill and extension drilling aimed at increasing tonnage
and confidence in resource categories as well as up dating the current JORC
resource estimate to meet both JORC 2016 and NI 43-101 reporting standards.
At the completion of this initial program, with a r equired $500,000 spend,
GEMC will earn a 25% interest in the Millennium project. As announced
on September 25, 2017, GEMC has the right to earn u p to 75% in the
Mi llennium project with a total $2.5M spend on project expenditures.
Highlights of the Proposed Program Include:
• Reverse circulation drill program to upgrade resour ce mineralisation
and test depth and lateral extensions to mineralisation,
• Mobilization of drills to site in the final quarter of 2017,
• Mapping of the 1.5 kilometre geological extension i n the northern
mining lease areas in anticipation of future drilling,
• Advanced environmental studies for future mine permitting,
• Updated resource estimate to CIM standards for NI 4 3-101 reporting
requirements and to meet JORC 2016 standards.
Mitchell Smith, President and CEO commented:
“We are encouraged to work with the high-calibre Ha mmer Metals team and
move the Millennium Cobalt project to the next leve l. This initial program will
be part of a larger aggressive work initiative that will include a targeted drill
campaign, further exploration of deeper mineralizat ion and expansion
throughout the entire project. We look forward to confirming the significant
potential this cobalt asset holds and fast-tracking our earn-in to the project.”
Millennium is an advanced staged cobalt project wit h a large defined zone of
cobalt-copper mineralisation which remains open at depth and along strike.
Cobalt-copper mineralisation is associated with she ar zones hosted within a
sequence of volcanic and sedimentary units. The 2016 JORC resource estimate
completed by Hammer Metals Ltd. outlined a minerali sed zone over a strike
length of approximately 1.5 km. Additional mapping , soil geochemistry and
rock sampling has identified an additional 1.5 km of anomalous cobalt-copper
mineralisation in geological analogues that occur a long a potential strike
extension in the northern half of the tenement package. This area has not been
tested with any drilling to date. This additional strike extent provides excellent
opportunity to increase the overall resource potent ial of the Millennium
project.
To date the project area has been tested by only 62 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 d epths 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 projec t please refer to press
release dated September 25, 2017 and/or refer to Gl obal Energy Metals’
website www.globalenergymetals.com.
Qualified Person
Mr. Paul Sarjeant, P. Geo., the Company’s VP Projec ts and Director, is the
qualified person for this release as defined by Nat ional 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 | FSE:5GE1)
Global Energy Metals is focused on offering securit y of supply of cobalt, a
critical material to the growing rechargeable batte ry market, by building a
diversified global portfolio of cobalt assets inclu ding project stakes, projects
and other supply sources. GEMC anticipates growing its business by acquiring
project stakes in battery metals related projects w ith key strategic partners.
Global Energy Metals currently owns and is advancing the Werner Lake Cobalt
Mine in Ontario, Canada and has entered into an agr eement 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 in volve risks associated with
regulatory approvals and timelines. Although Global Energy Metals believes the
expectations expressed in such forward-looking stat ements are based on
reasonable assumptions, such statements are not gua rantees 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 fo rward-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.