Global Energy Metals Corporation (TSXV:GEMC,OTCQB:GBLEF,FWB:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”) is pleased to announce that it has executed final agreements with Hammer Metals (“Hammer”) to accelerate its ownership interest in the Millennium Cobalt Project (the “Millennium Project”) as well as the Mt. Dorothy Cobalt Project and the Cobalt Ridge Project (collectively the “Mt. Isa Projects”), such that it will hold 100% of both the Millennium Project and the Mt. Isa Projects.
The acquisition of the Millennium Project and the Mt. Isa Projects is subject to Exchange approval. For details of the Agreement and terms of the transaction please refer to the Company’s June 26, 2018 news release.
Millennium Cobalt Project
Millennium is a multi-zone, near-surface cobalt-copper sulphide system with several kilometres of potential strike length as defined by drilling, prospecting and geophysics. Two zones were tested during the First Phase exploration program – Millennium North Zone and the Millennium South Zone. Results from both zones exceeded grade and thickness expectations.
Drilling confirmed continuity and suggested greater mineralized thicknesses at Millennium South Zone. Infill drilling at the Millennium North Zone demonstrated greater continuity of mineralisation to surface and indicates mineralised zones are wider than previously thought.
Results to date suggest the size and grade potential of Millennium as both zones remain open to depth and along strike to the north where the North Extension remains untested by drilling.
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.
(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
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.