(TheNewswire)
Vancouver, BC / TheNewswire / November 10, 2017 / Global Energy Metals Corp. TSXV:GEMC | FSE:5GE1 ("Global Energy Metals", the "Company" and/or "GEMC") is pleased announce the members of the technical team that will lead the exploration and development program of the Millennium Cobalt Project in Mount Isa district in Australia.
Global Energy is earning into the advanced Millennium Cobalt Project with a work program expected to commence following the completion of a non-brokered financing that will fund an initial work program at Millennium which will include the following activities:
--Reverse circulation drill program to upgrade resource mineralisation and test depth and lateral extensions to mineralisation,
--Mapping of the 1.5 kilometre geological extension in the northern mining lease areas in anticipation of future drilling,
--Advanced environmental studies for future mine permitting,
--Updating resource estimate to CIM standards for NI 43-101 reporting requirements and to meet JORC 2016 standards at the completion of the drill program(s).
The lead on the project will be will be Mark Whittle, BSc (Hons 1) MSc, MAusIMM, the Exploration Manager at Hammer Metals. Mark, a Geologist with over 30 years of experience holds a Bachelor of Science Degree from the University of Queensland (First class honours from the WH Bryan Mining and Geology Research Unit) and a Master's Degree in Geology from James Cook University studying the Dugald River Ag-Pb-Zn deposit in the Mount Isa region. Mark has extensive exploration experience in Queensland, the Northern Territory and Western Australia and internationally on projects in the Philippines and Finland. As a mine geologist, he has worked underground in base metals mines in Western Australia, New South Wales and the Northern Territory.
John Downing, BSc (Geol), MAIG, will also be involved with the technical program at site. John Downing is a geologist with over 30 years of experience in the mineral resources industry in Australia and internationally. During this period, he has worked for a number of mining and exploration companies and consultancies, including Pan Australian Mining, Mount Isa Mines, the W.A. Department of Mines and Petroleum, Maxwell Geosciences, and Snowden Group. John has worked with a range of commodities, with a focus on gold and base metals. This has included a broad range of technical roles in mineral exploration, mining, resource evaluation, project management, land access management, and data management. John has significant experience in project generation and exploration in Queensland, and specifically the Mount Isa District where he was involved for eight years in gold and base metal exploration for Mount Isa Mines.
Hammer Metals was awarded "Queensland Explorer of the Year" in 2015 and is the operator of the Newmont Farm-in and Joint Venture in addition to the Mt Frosty Joint Venture with Glencore in the Mt. Isa region of Queensland, Australia.
Paul Sarjeant, VP Projects from Global Energy Metals:
"I am very excited that we will be working with technical team members as qualified as Mark and John. Both were integral to the initial work program just completed at Millennium and so keeping that geological continuity is key for the project. Their expertise in advancing projects in this region should mean that we have a well-executed program giving us the best chance of getting the best results from the important Millennium Cobalt Project."
Mitchell Smith, CEO:
"We are pleased to be working with technical team members who bring this level of experience and knowledge as we work together to advance this cobalt project."
In addition, Global Energy Metals announces the filing of the following documents with the Canadian securities regulatory authorities on the System for Electronic Document Analysis and Retrieval at www.sedar.com:
- Restated management's discussion & analysis ("MD&A") for the fiscal year ended on June 30, 2017,
- CEO and FO certificates, on Form 52-109FV1, in support of the restated MD&A.
The MD&A was restated in order to include up to date information regarding developments in the Company's Werner Lake project, including the disclosure of information from its resource report completed by and published on September 6, 2017, and further information regarding the Company's Millennium project in Australia.
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. Cobalt-copper mineralisation is associated with shear zones hosted within a sequence of volcanic and sedimentary units. The 2016 JORC resource estimate completed by Hammer Metals Ltd. outlined a mineralised 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 along 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 potential of the Millennium project.
To date the project area has been tested by only 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 resource area.
For additional information on the Millennium project please refer to press release dated September 25, 2017 and/or refer to Global Energy Metals' website www.globalenergymetals.com.
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 | 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: info@globalenergymetals.com
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.
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