Syndicated under license via QuoteMedia
Vancouver, BC / TheNewswire / November 27, 2018 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or “GEMC”) is pleased to report that assay results from metallurgical drill holes 18MET-01 to 18MET-05 have been reported at the Werner Lake Cobalt project (“Werner Lake” and/or the “Project”) located in Ontario, Canada.
The multi-phase Werner Lake exploration program is part of a $2.5 million commitment to advance the project and is being solely funded by Marquee for their earn-in of up to 70% interest in the Project. Global Energy Metals currently owns a 70% interest in the Project.
Highlights:
-
Completion of five metallurgical drill holes collecting approximately 150kgs of HQ core, composited and shipped to the SGS Lakefield lab for further metallurgical work.
18MET-05 drilled in the West Mine Zone indicated a thickening of the sulphide zone in this area which will be explored further in the next phase of drilling.
-
7.33m @ 0.827% Co (from 75.28 m down hole).
18MET-04 intersected two zones of copper mineralisation down hole from sulphide cobalt zones.
-
7.41 m @ 0.123% Cu (from 133.6 m down hole) correspond to a wide intercept of sulphides.
18MET-03 was drilled to fill a gap in the resource estimate between historic drill holes.
-
The best interval was 1.35 m @ 0.418% Co (from 32.27 m down hole).
A second high grade interval of 1.14 m @ 0.293% Co (from 40.07 m down hole).
-
-
18MET-01 returned 1.90 m @ 0.445% Co (from 36.10 m down hole).
Samples will also be sent to Zhejiang Meidu Haichuang Lithium Battery Technology Co., Ltd (“China Hitrans”) a potential off-take partner of Marquee.
Currently Marquee has an interest in 30% of the Werner Lake deposit and as such any proposed off-take would only apply to this interest.
Assay results still pending for the final drill holes from Phase 2 drilling program.
18MET-01:
Drilled at the Old Mine Site area and was designed to intersect between historic holes O-054 (1.29 m@ 0.192% Co) and O-063 (2.00m @ 0.400% Co). This hole successfully intersected the Old Mine Site mineralised unit of altered garnet-biotite gneiss with up to 10% stringer sulphides including pyrite, chalcopyrite and pentlandite.
The hole returned 1.90 m @ 0.445% Co (from 36.10 m down hole) (Figure 1).
Figure 1 – 18MET-01
image: https://tnw-c.thenewswire.com/data/tnw/clients/img/e5d5e83c78fde6195222644062ae5982_.png
Click Image To View Full Size
18MET-02:
Drilled as a nearest neighbour to O-015 (1.5 m @ 0.817% Co) at the Old Mine Site area, this drill hole encountered a low angle fault that displaced the zone; as a result there were no significant results to report and the drill hole was abandoned shortly after commencing. The distance between O-015 and 18MET-02 is projected to be less than 10 m and so will have limited influence on the resource estimate in this area.
18MET-03:
Drilled to fill a gap in the resource estimate between historic drill holes J-054 (1.88 m @ 0.121% Co) and J-067 (0.51m @ 0.141% Co) on the West Mine area. The holes intersected several close spaced zones of the targeted mixed mafics and West Cobalt Zone units with 2 to 5% pyrite, pyrrhotite and pentlandite and localized quartz flooding (Figure 2).
The best interval was 1.35 m @ 0.418% Co (from 32.27 m down hole). A second high grade interval of 1.14 m @ 0.293% Co (from 40.07 m down hole) and a lower grade zone of 1.17 m@ 0.091% Co (from 36.97 m down hole) was also drilled.
Figure 2 – 18MET-03
image: https://tnw-c.thenewswire.com/data/tnw/clients/img/95f3f39c239c776fd6958d15259f98a2_.png
Click Image To View Full Size
18MET-04:
18MET-04 (Figure 3) was drill from the same collar as 18MET-03 but was drilled oblique to zone (045o) in an attempt to cut a thick section of the visual mineralised zone in 18MET-03 (Figure 2).
Numerous zones of the target mixed mafics and West Cobalt Zone units were intersected, with the longest intercept from 116.2 to 141.4 m of 2 to 4% chalcopyrite, pyrite, pyrrhotite and pentlandite. Narrow zones of cobalt mineralisation we cut: 0.75 m @ 0.109% Co (from 77.68 m down hole), 0.56 m @ 0.109% Co (from 85.44 m down hole) and 1.2 m @ 0.159% Co (from 89.8 m down hole).
The geological team is further encouraged with two zones of copper mineralisation down hole from these cobalt zones. These intervals: 3.5 m @ 0.406% Cu (from 122.50 m down hole) and 7.41 m @ 0.123% Cu (from 133.6 m down hole) correspond to the wide intercept of sulphides note above. These zones require further investigating.
Figure 3 – 18MET-04
image: https://tnw-c.thenewswire.com/data/tnw/clients/img/25639ea19f32f87f15716173bb60e44a_.png
Click Image To View Full Size
18MET-05:
The final metallurgical hole was also drilled in the West Mine Zone and was designed as a nearest neighbour to J-065 (4.16 m @ 0.183% Co) and an over cut of hole J-060 (4.84m @ 0.808% Co) to fill a gap between holes (Figure 4).
18MET-05 returned 7.33m @ 0.827% Co (from 75.28 m down hole). This corresponds to typical West Cobalt Zones mineralisation with 3-5% mixes sulphides including pyrite/pyrrhotite and pentlandite.
This strong intercept indicates a thickening of the zone in this area and represents the widest and highest-grade zone on this section.
Figure 4 – 18MET-05
image: https://tnw-c.thenewswire.com/data/tnw/clients/img/6b2ab47a8aa2f2b7b8e094bb81dcb017_.png
Click Image To View Full Size
18 holes for 4,800 m have now been completed at the Werner Lake Project as part of the phase one and two drilling campaigns (Figure 5). Results for hole WL 18-14 through WL 18-18 are pending and will be reported when available.
Figure 5: Drill Location Plan Map
image: https://tnw-c.thenewswire.com/data/tnw/clients/img/6a728696fcd5907d3d95c53263388296_.png
Click Image To View Full Size
The Phase 1 exploration campaign at Werner Lake was primarily focused on narrow spaced drilling, which has been designed to increase the existing resource, which remains open in all directions.
Phase 2 drilling was intended to extend mineralisation beneath the current resource area and test potential down dip and down plunge extensions to the mineralisation at Werner Lake. In addition to this exploration drilling, five drill holes for metallurgical purposes (452 m) were completed to create a composite bulk sample of approximately 150 kilograms being sent for metallurgical work to SGS Laboratories Canada.
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 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: [email protected]
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.
Copyright (c) 2018 TheNewswire – All rights reserved.
Read more at http://www.stockhouse.com/news/press-releases/2018/11/27/global-energy-metals-announces-metallurgical-drilling-thickens-cobalt-copper#zWIloRZPhtuwcDex.99
