Global Energy Metals Corporation (TSXV:GEMC) announces that it has begun the process of making the appropriate applications for permitting further exploration and project development work on its Werner Lake Cobalt project.
GEMC recently announced the completion of a favourable National Instrument 43-101 Resource Report (the “Report”) carried out by AGP Mining Consulting Inc. (“AGP”). The Report covered a portion of the potential resource area on the Werner Lake Cobalt Property (“ Werner Lake”) around the historic underground workings at the “Old Mine Site”, now referred to as the Minesite Deposit and the West Cobalt Deposit.
The results from the Report supports the Company’s confidence in Werner Lake and the need for additional exploration and development work on one of Canada’s only primary cobalt deposits with a resource estimate completed under CIM guidelines. Based on the results of the Report, the project demonstrates the high-grade nature of the deposit, making it a primary cobalt opportunity at an advanced stage.
AGP has recommended that several work programs, including diamond drilling, de-watering the underground workings, metallurgical testing and surface sampling are warranted at Werner Lake to advance the development of the project.
Global Energy Metals will make the necessary applications to commence the work programs that have been recommended. The key focus will be additional diamond drilling to increase the mineralized zones and upgrade inferred resources to the indicated resource category.
With its high-grade cobalt grades and location in a pro-mining stable jurisdiction the Werner Lake Cobalt project is seen as being a future supply of cobalt material. The Company is actively seeking potential partners that will allow for the development and value build at Werner.
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.
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.