Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GLBEF) is expanding the drill program at its Lovelock Mine project in Nevada to include the nearby Treasure Box project.
The junior resource company is adding another 700 metres to the 1,4000-metre program originally planned for a total of 2,100 metres, or up to 10 holes.
In a statement, Vancouver-based GEMC said that the move was to help capitalize on having drill contractors currently onsite at Lovelock so that the company can test historically high-grade copper and cobalt mineralization at Treasure Box.
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The company is fully funded for the drilling program, it added.
Treasure Box is an exploration-state copper, cobalt, nickel, gold exploration property that consists of 76 unpatented lode claims in the Table Mountain Mining District of Nevada. The mineralization at Treasure Box is a classic example of an iron-oxide copper gold (IOCG) occurrence. The project hosts mine workings from limited copper production, which occurred until early into the 20th century.
According to GEMC, most of the historical work at Treasure Box came in the form of shallow drilling on the deposit, with very little regional work and “limited” deeper drilling. The company told investors that there is “strong discovery potential” around Lovelock and Treasure Box.
GEMC is applying modern exploration techniques and methods in Nevada in the hopes of discovering new sources of battery metals that are needed for a low-carbon economy.
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