GEMC.V · 2022-06-02 12:00:00

Powered BY Cobalt … Driven BY Demand Global Energy Metals Provides Update ON Completion of Partner Funded Phase 1 Drilling at the Millennium Cobalt-Copper-GOLD Project IN Queensland, Australia

Exploration Programs

TSX.V GEMC

www.globalenergymetals.com

Suite 1501,

Sun Tower

128 West Pender St. Vancouver,

V6B 1R8

T +1.604.688.4219

TwiGer @EnergyMetals

GLOBAL ENERGY METALS PROVIDES UPDATE ON COMPLETION OF

PARTNER FUNDED PHASE 1 DRILLING AT THE MILLENNIUM

COBALT-COPPER-GOLD PROJECT IN QUEENSLAND, AUSTRALIA

Vancouver, BC / TheNewswire / June 2, 2022 / Global Energy Metals

CorporaIon TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy

Metals” , the “Company” and/or “GEMC”), a company involved in investment

exposure to the ba5ery metals supply chain, is pleased to announce that the

ini7al reverse circula7on drill program conducted and funded by joint venture

partner Metal Bank Limited (“MBK”) was recently completed at the

Millennium Cobalt-Copper-Gold project in Queensland Australia with 1,580 m

drilled predominantly in the South and Central resource areas, targe7ng both

shallow and deep extensions to the exis7ng mineralisa7on along with inﬁll,

and several precollars in prepara7on for diamond drilling.

Visual observa7ons have been encouraging with copper oxide and/or

sulphides noted in all holes and mineralisa 7on noted in all host rocks.

Moreover, chalcopyrite and cobal7te have been observed within broad

altera7on halos not currently within the resource envelope.

Figure 1. Copper-rich interval in RC drill chips showing abundant chalcopyrite

in siliceous metasediment

Figure 2. Copper-rich interval in RC drill chips showing (MI22RC02) moderate

to abundant chalcopyrite in highly altered silica-bioBte metasediment (leC)

adjacent carbonaceous siltstone (right)

Mineralisa7on was noted in all host rocks, however best developed on or ad-

jacent to the contact between carbonaceous shale and metasoma7sed sedi-

ments ('quartzite', meta-sandstone and calc-silicates).

Furthermore, mineralisa7on was also noted in the hangingwall west of the

main Millennium mineralised trend, poten7ally indica7ve of secondary struc-

tures or a link with the Pilgrim/Fountain Range Fault along the western mar-

gin of the project. Addi7onal RC drilling is planned to directly test this region-

ally signiﬁcant fault system to establish its rela7onship with the Millennium

mineralisa7on.

Some delays were experienced due to unseasonable weather, COVID-19 and

mechanical and external logis7cal issues, however overall the program re-

mains on track, pending results, for a Resource update in late 2022. Assays

from the earliest drilling samples are now expected in late July – early August

due to laboratory staﬀ and supply chain disrup7on.

A next phase of RC drilling in the north along with metallurgical and deeper

diamond drilling in the South and Central areas will commence in the second

week of June for a approximately an addi7onal 1,600 m (1,000 m RC, 600 m

DD). Metallurgical and deeper diamond drilling work is the ﬁrst priority of

this drilling, which will then expand into the northern parts of the Central

Area and some scoping of the Northern Area. All drilling assay results are ex-

pected by late September, with metallurgical test work expected a minimum

12 weeks from submission.

MBK has developed a three-phase work program for Millennium in 2022 seek-

ing to conﬁrm the Explora7on Target for the Project of 8 – 10 Mt @ 1.0 – 1.1%

CuEq, and future Resource expansion and development poten7al. Upon re-

ceipt and assessment of results MBK will embark on a JORC 2012-compliant

Resource update and Scoping Study u7lising appropriate economic parame-

ters aimed for comple7on late 2022.

Figure 3. Millennium Cu-Co-Au Project long secBon showing exisBng drilling,

current resource blocks and priority targets. NB: Intervals are CuEq%-metre as

previously reported

The Millennium Project

The Millennium Copper and Cobalt Project (the “Millennium Project”) near

Cloncurry in NW QLD currently holds a JORC 2012-compliant Inferred Re -

source of 5.9 Mt @ 1.08% CuEq (Cu-Co-Au-Ag) across 5 granted Mining Leases

with signiﬁcant poten7al for expansion.

The Millennium Project is located 19 km from the Rocklands copper-cobalt

project with an established processing plant capable of trea7ng Millennium-

style mineralisa7on once recommissioned.

Recent drilling provided conﬁdence in growth upside to the exis7ng resource.

This included encouraging inﬁll/extension work in the Southern Area Resource

(MI21RC01-2) and signiﬁcantly expanding the system strike and scale into the

Northern Area (MI21RC03-07).

Following comple7on of its current drill program and receipt of analy7cal re-

sults, a review of the exis7ng resources in the Southern and Central Areas of

the Project and new zones of mineralisa7on will be undertaken. In conjunc-

7on with signiﬁcant apprecia7on in copper and cobalt prices since maiden

resource repor7ng, results from this review should provide support for an ini-

7al Explora7on Target for the Project of 8 – 10 Mt @ 1.0 – 1.1% CuEq.

This Explora7on Target is based on extensions along strike and at depth in

both the Southern and Central Area copper-cobalt-gold Resources and in the

Northern Area, where shallow copper intervals at broad spacing have been

returned some 800-1,000 m north of the closest Resource.

It should be noted that the Explora7on Target is conceptual in nature. There

has been insuﬃcient drilling at depth of the exis7ng Resource and in the

Northern Area of the project and insuﬃcient informa7on rela7ng to the Rea-

sonable Prospects of Eventual Economic Extrac7on (RPEEE) of the Millennium

project to es7mate a Mineral Resource over the Explora7on Target area, and

it is uncertain if further study will result in the es 7ma7on of a Mineral Re-

source over this area. It is acknowledged that the currently available data is

insuﬃcient spa7ally in terms of the density of drill holes, and in quality, in

terms of MBK’s ﬁnal audit procedures for down hole data, data acquisi7on

and processing, for the results of this analysis to be classiﬁed as a Mineral Re-

source in accordance with the JORC Code.

Qualiﬁed Person

Mr . Paul Sarjeant, P . Geo., is the qualiﬁed person for this release as deﬁned by

NaSonal Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Global Energy Metals Corporation

(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals Corp. o ﬀers investment exposure to the growing

rechargeable baSery and electric vehicle market by building a diversi ﬁed

global porUolio of exploraBon and growth-stage baSery mineral assets.

Global Energy Metals recognizes that the prolifera Bon and growth of the

electriﬁed economy in the coming decades is underpinned by the availability

of baSery metals, including cobalt, nickel, copper, lithium and other raw

materials. To be part of the solu Bon and respond to this electri ﬁcaBon

movement, Global Energy Metals has taken a ‘consolidate, partner and invest’

approach and in doing so have assembled and are advancing a por Uolio of

strategically signiﬁcant investments in baSery metal resources.

As demonstrated with the Company’s current copper, nickel and cobalt

projects in Canada, Australia, Norway and the United States, GEMC is

invesBng-in, exploring and developing prospec Bve, scaleable assets in

established mining and processing jurisdicBons in close proximity to end-use

markets. Global Energy Metals is targeBng projects with low logisBcs and

processing risks, so that they can be fast tracked to enter the supply chain in

this cycle. The Company is also collabora Bng with industry peers to

strengthen its exposure to these cri Bcal commodiBes and the associated

technologies required for a cleaner future.

Securing exposure to these criBcal minerals powering the eMobility revoluBon

is a generaBonal investment opportunity. Global Energy Metals believes Now

is the Time to be part of this electriﬁcaBon movement.

For Further InformaUon:

Global Energy Metals Corpora7on

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: [email protected]

t. + 1 (604) 688-4219

www.globalenergymetals.com

Twi5er: @EnergyMetals | @USBaGeryMetals | @ElementMinerals

Subscribe to the GEMC eNewsleGer

CauUonary Statement on Forward-Looking InformaUon:

Certain informaBon in this release may consBtute forward-looking statements

under applicable securiBes laws and necessarily involve risks associated with

regulatory approvals and Bmelines. Although Global Energy Metals believes

the expectaBons expressed in such forward-looking statements are based on

reasonable assumpBons, 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 obliga Bon to update these forward-looking

statements in the event that management’s beliefs, esBmates or opinions, or

other factors, should change.

GEMC’s operaBons could be signiﬁcantly adversely aﬀected by the eﬀects of a

widespread global outbreak of a contagious disease, including the recent

outbreak of illness caused by COVID-19. It is not possible to accurately predict

the impact COVID-19 will have on operaBons and the ability of others to meet

their obligaBons, including uncertainBes relaBng to the ulBmate geographic

spread of the virus, the severity of the disease, the duraBon of the outbreak,

and the length of travel and quaranBne restricBons imposed by governments

of aﬀected countries. In addiBon, a signiﬁcant outbreak of contagious diseases

in the human populaBon could result in a widespread health crisis that could

adversely aﬀect the economies and ﬁnancial markets of many countries,

resulBng in an economic downturn that could further aﬀect operaBons and

the ability to ﬁnance its operaBons.

For more informaBon 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 RegulaBon 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.

← Back to feed