Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) (FRA:5GE1) is executing on a portfolio-wide, comprehensive development strategy for its jurisdictionally safe cobalt, nickel, and copper projects.
In a statement Friday, the company said it believes its projects are well-positioned for further exploration and development at a time when there is renewed interest in the battery-minerals sector while price fundamentals are realigning due to the much-anticipated surge in demand and market growth supported by a global movement towards electric vehicles.
Global Energy Metals said its current portfolio of cobalt, copper, and nickel holdings are well exposed to this global transition towards a lower-carbon economy.
Lovelock & Treasure Box - Nevada
Global Energy Metals considers the Iron Oxide Copper Gold (IOCG) system in which the Lovelock Mine and Treasure Box projects are located in as a Tier-1 exploration district. Analysis of the historic data confirms this potential with findings from a recent data interpretation study that provided a new interpretation of the regional structure of the Lovelock property, specifically in the vicinity of the historical mining of high-grade cobalt and nickel at the Lovelock Mine and those areas in close proximity that were previously identified as high-priority targets.
The company said its technical team is in the process of generating a strategy for the projects including the undertaking of additional IP surveying, geological prospecting, and mapping of the current targets which would ultimately culminate in a diamond drilling program to assess the potential for high-grade mineralization similar to that historically mined at the site.
As noted, limited, yet high-grade, production of cobalt, nickel, and copper has been reported on the property with the general average grade of the 200 tons shipped at the turn of century being 14% cobalt and 12% nickel.
Global Energy Metals holds an 85% interest in the projects through its 100%-owned US subsidiary, US Battery Metals, providing it with a US presence at a pivotal time when the US EV automotive industry has become a pillar for the sourcing of a localized critical battery metals supply chain.
Millennium & the Mount Isa Projects - Queensland, Australia
The Australian Financial Investment Review Board has granted approval for the sale of the previously announced royalty sale to Electric Royalties Ltd. As such, the company said it and Electric Royalties are working towards finalizing the close of the royalty sale whereby Electric Royalties will issue to Global Energy Metals 1.15 million shares in Electric Royalties and make a C$150,000 cash payment in consideration for an initial 0.5% gross metal royalty on the projects.
Electric Royalties has the option to increase its royalty on Millennium by an additional NSR of up to 1.5% in exchange for consideration of $1.5 million, of which, 25% may be compensated in the form of common shares in Electric Royalties.
Global Energy Metals said it is also in the process of evaluating next-step options, including new strategic partnerships, to advance its portfolio of copper-cobalt-gold projects in Queensland, Australia.
Through its wholly owned subsidiary Element Minerals Australia PTY, Global Energy Metals has established extensive tenement holdings totalling 2,560 hectares across the Mt Isa and Cloncurry district in northwest Queensland, containing a number of properties with significant cobalt exploration potential.
The company said exploration to date has returned outstanding, high-grade intercepts and there is excellent potential to significantly improve the JORC Resources in tonnes and grade with additional targets awaiting further exploration and test-work including drilling which will allow for greater modelling continuity and increased confidence level of the current reported “inferred resource” category to Indicated and/or Measured categories under NI 43-101 reporting standards.
Werner Lake - Ontario, Canada
Global Energy Metals said it has been notified by Marquee Resources Ltd, that following the recent renewed interest in the battery metals sector, that it has commenced a review of the highly prospective Werner Lake Cobalt-Copper Sulphide Project. Marquee has a 30% interest in the project.
In order to maximise the value and appeal of the project, Marquee will look to re-engage with Zhejiang Meidu Haichuang Lithium Battery Technology Co Ltd (Chinahitrans), which previously signed a non-binding cobalt-copper off-take agreement on Marquee’s interest in the project.
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