Powered BY Cobalt … Driven BY Demand Global Energy Metals to Investigate Cobalt- Copper-GOLD Recovery Potential FOR Recently Acquired Millennium Project IN Queensland, Australia
TSX.V GEMC
www.globalenergymetals.com
Suite 1501,
Sun Tower
128 West Pender St. Vancou-
ver , BC
V6B 1R8
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Powered by Cobalt … Driven by Demand
GLOBAL ENERGY METALS TO INVESTIGATE COBALT-
COPPER-GOLD RECOVERY POTENTIAL FOR RECENTLY
ACQUIRED MILLENNIUM PROJECT IN QUEENSLAND,
AUSTRALIA
Vancouver, BC / TheNewswire / July 17, 2019 / 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 entered into a Memorandum of Understanding
(“MOU”) with Australian cobalt peer, Cobalt Blue Holdings Limited
(“Cobalt Blue”) to investigate cobalt-copper-gold recovery potential
for the Millennium Project in Queensland Australia.
Global Energy Metals recently announced the outright acquisition o f
the Millennium Project adding to its battery metals portfolio one of
the most exciting scalable primary-cobalt projects in the industry.
With the strong understanding of the potential for the high-grade
Millennium project as well as the Mt. Dorothy Project and Cobalt
Ridge properties, collectively referred to as the Mt. Isa Projects, the
acquistion has positioned GEMC as an exploration leader in the Mt. Isa
- Cloncurry mining district for cobalt and battery mineral deposits.
Historical studies have shown that cobalt and copper concentrates
can be floated from samples of drill core from the Millennium Project.
It is the intent of Global Energy Metals and Cobalt Blue to prepare
new cobalt-pyrite samples and test the applicability of Cobalt Blue’s
pyrite processing technology to the concentrates.
Mitchell Smith, CEO and Director commented:
“It is invaluable to conduct metallurgical testwork on this resource at
this stage in its development and further de-risk the project while
looking at various processing options for the company as it continues
to grow the existing resource and delineate new targets at
Millennium. Given the encouraging results of previous metallurgical
test with high recovery rates for copper, cobalt and gold we are
confident that the results from this program can demonstrate a
potentially viable option for the project.”
The Proposed Cobalt Blue - Global Energy Metals Program:
(i)A review of historical testwork to produce concentrates from the
Millennium Project
(ii) A review of cobalt-pyrite quantity, grade, mineralogy and other
physical characteristics, as available for the Millennium Project.
(iii) Collaboration between GEMC and Cobalt Blue to produce cobalt-
pyrite concentrate samples, or bulk Co-Cu-Au sulphide mineral
concentrates.
(iiii) Laboratory scale “proof-of-concept” testwork, treating cobalt-
pyrite feedstock using the Cobalt Blue process.
(v) Preparation of a short-form report summarising the findings by
Cobalt Blue, for delivery to GEMC.
Figure 1. Location of the Millennium Project
Cobalt Blue Processing Technology
Cobalt Blue has been developing minerals processing technology for
extraction and recovery of cobalt and elemental sulphur from cobalt-
pyrite feedstocks. The technology was evaluated in the 2018 PFS for
the Thackaringa deposits near Broken Hill, and was successfully shown
to be technically and economically viable for that project. This work
culminated in the release of the maiden Ore Reserve Statement that
accompanied the PFS.
Previously, Cobalt Blue has successfully evaluated application of the
technology to cobalt-pyrite feedstocks from Havilah’s Mutooroo
deposit. Separately, evaluation of tailings from Cudeco’s Rocklands
project was commenced in late 2018. The Millennium Project is
located approximately 20 km from the Cudeco Rocklands mine site, as
shown in Figure 1.
The minerals processing technology is focused on the treatment of
pyrite, to recover payable metals, elemental sulphur, and generate
environmentally stable iron oxide leach residues. The process
specifically avoids the simultaneous production of sulphuric acid,
which normally occurs when roasting pyrite, or leaching pyrite via
pressure oxidation.
Cobalt Blue continues to assess opportunities to apply its innovative
minerals processing technology and has now identified a second
prospective project (the Millennium Project) in the Mt Isa-Cloncurry
district for evaluation.
Qualified Person
Mr. Paul Sarjeant, P . Geo., 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 now holds 100% of the Millennium Cobalt Project and two
neighbouring discovery stage exploration-stage cobalt assets in Mt.
Isa, Australia. It also currently owns 70% of the Werner Lake Cobalt
Mine in Ontario, Canada, has an option to acquire an 85% interest in
two cobalt exploration projects in Nevada, 150km East of the Tesla
Gigafactory.
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
Twitter: @EnergyMetals
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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
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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.
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