Tickers: XTSX:GEMC, PINX:GBLEF
Vancouver, BC - TheNewswire - February 19, 2020 - Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) ("Global Energy Metals", the "Company" and/or "GEMC") is pleased to announce plans to move forward with assessment and development of the Lovelock and Treasure Box Projects for 2020. The goals are as follows:
1)Complete Geological Interpretation of 2019 First-Phase Exploration Program
2) Complete 3D Geological Modelling
3) Complete Inaugural Drill Program
4) Complete Earn-In of 85% Interest in the Property
Mitchell Smith, President & CEO commented:
"Results from the initial program in 2019 at the battery minerals project in Nevada confirmed the prospective potential of the overall land package and indicate considerable promise. Given the scale and prospective nature of this battery minerals discovery, unlocking value from Lovelock and Treasure Box will now form as the primary focus of the company's 2020 exploration plan."
The exciting discovery made as part of the initial work program conducted in 2019 was focused on defining structural controls in the known battery metal-rich areas and connecting mineralized zones into broader targets in preparation for an inaugural drilling program.
Given the very large exploration area, producing a property-wide geological interpretation and model of the structures and mineralization is an immediate priority and integral to a 2020 drill program that will allow for reinterpretation of historic data and a better understanding of the ability to unlock the cobalt, nickel and copper potential from GEMC's Nevada-based projects.
The Company will focus its exploration program in the area central to the past-producing Lovelock Mine and will commence a first-ever drilling program to test the extent of mineralization. If assay results are encouraging then it is expected that additional holes will be drilled to test strike extent.
Figure 1. Location Map of Lovelock and Treasure Box Projects in Nevada, USA
Advancing the Lovelock and Treasure Box projects and earning its 85% interest in the Nevada based assets provides the Company with high-potential, growth-stage exploration projects in an established mining district. Additionally it provides a path forward to develop a domestic supply of battery metals critical to national and economic security at a time when the importance of domestic mineral independence is recognized and being invested in by both corporate and government bodies.
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 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 and has entered into an agreement to acquire an 85% interest in two cobalt-nickel-copper 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
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.
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