Powered BY Cobalt … Driven BY Demand ROCK Chip Sampling at Millennium Completed; Results Indicate High Priority Targets FOR Further Work to Expand Resource Area
TSX.V GEMC
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ROCK CHIP SAMPLING AT MILLENNIUM COMPLETED;
RESULTS INDICATE HIGH PRIORITY TARGETS FOR FURTHER
WORK TO EXPAND RESOURCE AREA
Vancouver, BC / TheNewswire / June 4, 2018 / 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 received results for the rock chip sampling
program conducted across the Millennium Cobalt Project
(“Millennium”) located in Mt. Isa, Queensland Australia.
This sampling strengthens the opportunity being unearthed at
Millennium as Global Energy recently announced a series of consistent
long intercept cobalt results from assays for 6 drill holes from the
advanced exploration project with a JORC (2012) resource. The
Company’s current campaign of drilling comprises a total of 10
diamond holes with six of the holes having now been reported, all
demonstrating wide intercepts of cobalt and copper mineralisation
with high-grade cobalt zones. The drilling program was designed to
test the up-dip continuity at the Millennium North deposit. Drilling
results correlate well with the previous deeper drilling with the
further delineation of wide zones of cobalt and copper mineralisation.
A full list of drill results completed thus far can be found in news
releases dated May 31, 2018, April 30, 2018 and January 17, 2018.
Rock chip sampling has been conducted to test for additional zones of
cobalt and copper mineralisation along the Millennium trend and in
particular the northern strike extension (“Northern Extension”) where
similar host rock units and strong soil geochemical anomalies are
located. This zone is located approximately 1 kilometre north of the
current Millennium resource as defined.
Features such as, the continuation of elevated soil arsenic and copper
geochemistry, presence of anomalous cobalt and copper in rock chip
samples and analogous geology between the Millennium resource area
and the Northern Extension indicate that this area is a priority target
for further investigation. These features are summarised in Figure 1.
Drill targets are currently being finalised to further test this area.
Peak values in the rock chip samples taken were 0.12% Co, 0.21g/t
Au, 42.6g/t Ag, 45.3% Cu, 0.16% Pb and 0.25% Zn. A full rock chip
listing is presented in Table 1. In total, 72 samples were collected for
analysis. All samples were submitted for 4-acid digest followed by
AAS assay for gold and ICP (OES) analysis for a multi-element suite
including copper, silver, cobalt and molybdenum.
Figure 1: Main Target Zones and Location of Rock Chip Samples
Figure 2: Oblique Photo of the Millennium Mineralised Zone.
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Table 1: Millennium Rock Chip Sampling Table
!
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 (2012) 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.
Prior to GEMC’s involvement, the area had been tested by 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 (2012) resource area.
*This work was based on a technical report by Haren Consulting Pty
Ltd., issued November 29, 2016 conforming to JORC (2012) reporting
standards for resources estimates. As Hammer uses JORC (2012)
categories, it should be noted that the confidence in the estimate of
JORC (2012) inferred mineral resources is usually not sufficient to
allow the results of the application of technical and economic
parameters to be used for detailed planning. For this reason, there is
no direct link from an inferred resource to inferred resource as
defined under NI 43-101. However, the Company deems this resource
still relevant because economic parameters have not changed
significantly since publication date and the Company has confidence
in the estimate based on review of technical data. A qualified person
has not done sufficient work to classify the historical estimate as
current mineral resources or mineral reserves and the issuer is not
treating the historical estimate as current mineral resources or
reserves. CuEq% = Cu% +(Co%*5.9) +(Au ppm*0.9) +(Ag ppm*0.01).
Price assumptions utilised by Hammer for the JORC (2102) resource
estimate and drill hole intercepts are (in USD); Au - $1,300/oz, Ag -
$20/oz, Co - $27,000/t and Cu - $4,600/t.
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
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