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Global Energy Metals Corporation (TSXV:GEMC,OTCQB:GBLEF,FWB:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”) is pleased to announce that joint venture partner, Marquee Resources Ltd. has received assay results for the final four drill holes WL 18-14 to WL 18-18 (Table 1) from the Werner Lake Cobalt project (“Werner Lake”), located in Ontario, Canada.
Global Energy Metals Corporation (TSXV:GEMC,OTCQB:GBLEF,FWB:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”) is pleased to announce that joint venture partner, Marquee Resources Ltd. has received assay results for the final four drill holes WL 18-14 to WL 18-18 (Table 1) from the Werner Lake Cobalt project (“Werner Lake”), located in Ontario, Canada.
The results are significant because they have intersected high-grade mineralisation within and beyond the constraints of the current Mineral Resource model. This continues to confirm the potential for significant exploration upside to Werner Lake’s existing resource.
The Company anticipates that the results from the 2018 drill program will have a positive impact on the next Mineral Resource estimate update, which is due for completion in early H1 2019.
| Table 1: Significant Diamond Drill Results – Werner Lake | |||||
| Drill Hole | From (m) | To (m) | Intercept (m) | Co (%) | Cu (%) |
| WL 18-14 | 289.50 | 299.00 | 0.50 | 0.146 | 0.322 |
| 302.00 | 302.60 | 0.60 | 0.217 | 0.154 | |
| 316.40 | 319.00 | 2.60 | 0.313 | 0.177 | |
| Incl. | 316.40 | 218.00 | 1.60 | 0.406 | 0.176 |
| WL 18-15 | Terminated | ||||
| WL 18-16 | 326.75 | 327.76 | 1.01 | 0.115 | 0.225 |
| WL 18-17 | 407.00 | 408.00 | 1.00 | 0.220 | 3.020 |
| WL 18-18 | NSR | NSR | |||
Global Energy Metals VP Projects, Mr. Paul Sarjeant commented:
“The 2018 drill campaign has not only been successful in achieving the Company’s main objective of confirming the extent and continuity of high-grade cobalt mineralisation at Werner but has also extended the limits of mineralization defined by the current Mineral Resource model.”
The objective of the 2018 drilling program was designed to accomplish the following:
- – Confirm high grade cobalt mineralisation intersected in numerous drill holes during previous diamond drilling programs.
– Provide additional structural and geotechnical data for ongoing project development studies.
– Increase pierce points within the current block model to enhance the current mineral resource.
– Regain an understanding of the geological controls on mineralisation and advance interpretive theories from the detailed work in the mid 1990’s.
Sarjeant continued, “We are confident that these objectives have been achieved and in addition we have been able to identify new areas of mineralisation that open the deposit along strike and at depth. We look forward to additional drilling on the property continuing to grow the Werner Lake resource.”
WL 18-14 (Figure 1) was drilled on Section 360,060 E to test extension of the West Mine Zone, west from WL 18-12 and WL 18-13 (2.00m @ 0.339% Co – previously reported). The hole intersected a thick sequence of the targeted altered biotite-garnet gneiss unit (the “Mixed Unit”) from 274 m to 306 m and again from 312 to 324 m down hole. Both these sections were characterized with thinner intervals of 2% to 5% sulphides (pyhrrotite, chalcopyrite) with narrow, up to 10% combined sulphides sections.
This intercept confirms the presence of the key host unit with strong cobalt mineralisation in the targeted area. It also represents an approximate 50 m down plunge (easterly) extension to mineralisation in drill hole WL-10-032 (2.0 m @ 0.257% Co from 3123 m down hole) drilled by Puget Ventures in 2010.
Figure 1: Simplified Cross Section 360,030 E
Click Image To View Full Size
WL 18-16 was drilled on section 360,100 E (Figure 2) and tested for an extension to the deep West Mine Zone mineralisation to the east across a postulated vertical, in theory delineating between the West Mine Zone and the Old Mine Zone. The hole intersected a number of narrower zones of the targeted Mixed Unit and returned cobalt enriched intervals including 1.01 m @ 0.115% Co from 326.76 down hole. Drill hole WL 18-15 was collared at the same point but was terminated after approximately 27 m due to being deflected significantly from it’s intended azimuth.
Figure 2: Simplifed Cross Section 360,100 E.
Click Image To View Full Size
WL 18-17, drilled on section 360,190 E (Figure 3) again tested the down plunge mineralisation associated with the West Cobalt Zone and represents step outs of 150 m from WL 18-16 and approximately 120 m from WL 18-13. The drill hole successfully cut several zones of the Mixed Unit with narrow zones with up to 10-15% combined sulphides. This results indicates the target horizon(s) continue to depth. The hole was also the deepest drilled to date during the current drill program. The positioning of WL 18-17 suggests the hole also hit very close to the Old Mine Zone, a more vertical mineralised shoot (Canmine drill hole O-071; 1.00 m @ 0.160 m from 378.7 m down hole). Following trends of both zones down dip and down plunge sets up a potentially interesting structural intersection at depth.
Figure 3: Simplified Section 360,190 E
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WL 18-18 was drilled on section 359,525 E and tested the potential for deeper mineralisation below the resource area at the far west end of the West Cobalt Zone. Several zones of the altered biotite garnet schist mixed with mafic and granitic gneiss were cut in the hole, but overall sulphides were generally in the zero to trace range.
Figure 4: Drill Location Plan Map
Click Image To View Full Size
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 70% of the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to acquire 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets 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.
We seek safe harbour.
Source: www.thenewswire.com