Global Energy Metals Inc (CVE:GEMC) has paid a bond to allow it to start exploration at a Nevada battery metals site.
The company said it had made payment to the Bureau of Land Management (BLM) for the reclamation bond fee to carry out the work, which includes drilling on mining claims at the Lovelock cobalt mine in Churchill County.
READ: Global Energy Metals closes oversubscribed financing; raises $800,000 for exploration and development at Nevada projects
The firm already has a number of drill-ready targets following the receipt of encouraging data from geophysical work along with initial geological mapping, chip and channel sampling.
GEMC has an option on two battery metal projects, the Lovelock Cobalt Mine and Treasure Box, which are close to the planet's largest lithium-ion battery production plant, namely the Gigafactory that Tesla Motors Ltd. and partner Panasonic Corp. have built in Nevada.
"Completing this bond payment enables the company to move forward with a staged exploration program at Lovelock that will allow for further definition of the character, size and potential of the nickel-cobalt-copper system," said Mitchell Smith, CEO and director.
"We are excited about this initial phase of exploration and are very optimistic that this strategically located asset will significantly further the growth of our company."
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