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Global Energy Metals receives approval to complete on 85% ownership deal for Nevada-based nickel, copper, cobalt projects

The accelerated ownership stake in the projects provides the company and its shareholders with a US footprint and controlling stake in high-potential, growth-stage exploration projects in a well-established mining district

Nevada
The group noted that historic work along with preliminary exploration conducted by Global Energy Metals in 2019 confirms the prospective nature of the project

Global Energy Metals Corporation. (CVE:GEMC) (OTCQB:GBLEF) (FRA:5GE1) announced that it has received TSX Venture Exchange approval and will be moving forward with the acquisition of an 85% interest in the Nevada-based Lovelock Mine and Treasure Box battery minerals projects.

The group noted that historic work along with preliminary exploration conducted by Global Energy Metals in 2019 confirms the prospective nature of the project and provides the company with an excellent opportunity to unlock the potential value of the deposit through future work.

READ: Global Energy Metals unveils deal to take accelerated ownership stake in its Nevada projects

The accelerated ownership stake in the Nevada-based projects also provides the company and its shareholders with a US footprint and controlling stake in high-potential, growth-stage exploration projects in a well-established mining district all at a time when there is a global transition towards securing stable, domestic supply chains of cleaner materials and renewable energy sources that rely on these critical battery metals.

In a statement, Mitchell Smith, Global Energy Metals’ president & CEO commented: "This is a significant and strategic acquisition in that we believe the Lovelock Mine and Treasure Box projects, located just 150km from Sparks, Nevada, establishes new discovery potential by adding key exploration targets in a superior mining district while complementing the Company's strong portfolio of battery mineral assets that are also located in geopolitically safe mining jurisdictions.

“The Lovelock Mine and Treasure Box projects provide tremendous opportunity to further strengthen our exposure to cobalt, nickel and copper - critical minerals that are the core building blocks fuelling the electrification of vehicles and new energy storage."

Contact the author at jon.hopkins@proactiveinvestors.com

 

Quick facts: Global Energy Metals Corp

Price: 0.255 CAD

TSX-V:GEMC
Market: TSX-V
Market Cap: $4.68 m
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