Global Energy Metals Corp (CSE:GEMC) has posted further encouraging drill results from the Werner Lake cobalt project in Ontario, Canada, which confirmed mineralization at depth.
The multi-phase exploration is being carried out and funded by partner Marquee Resources Ltd - as part of a $2.5 million commitment. Marquee can earn-in up to 70% interest in the site. The second phase drill campaign has hit further cobalt extensions.
Highlights include 0.55 m (meters) at 0.534% cobalt from 202.75 m and 0.73 m at 0.159% Co from 210.20 m (meters) in one hole.
Another showed 0.89 m at 0.365% Co from 253.86 m from 253.86m.
Marquee has now completed 18 holes for 4,800 meters at the property with further assays expected shortly.
Five metallurgical drill holes for 452m have also been completed with metallurgical test work underway.
"These latest results further confirm the presence of extensive cobalt sulphide mineralisation at the Werner Lake deposit," said Paul Sarjeant, vice-president of projects.
"We are particularly encouraged by the results of holes WL 18-12 and WL 18-13 which were some of the deepest holes drilled at the project and indicate that the mineralisation does in fact, extend to depth and down plunge as suggested by previous work campaigns at the project.
"We look forward to reporting the next holes of the phase 2 drill program shortly as our partner move towards updating the cobalt resource at Werner Lake."
Drill data has been consistent over the programs, the firm noted.
The first phase campaign at Werner Lake was mainly focused on narrow-spaced drilling, which has been designed to increase the existing indicated mineral resource of 79,400 tonnes at 0.43% cobalt that 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.
GEMC shares were unchanged at $0.07.
Reporting by Giles Gwinnett