Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or “GEMC”) announces that the proposed private placement announced on May 7, 2019, will not proceed at this time due to Policy 5.3 for Tier-2 Venture Issuers under Section 7.1.
As previously announced, Global Energy Metals and Canada Cobalt Works (“CCW”) have entered into a strategic technological initiative featuring the proprietary and environmentally friendly Re-2Ox Process as part of a wider exploration and drilling program that will allow for reinterpretation of historic data and a better understanding of the ability to unlock the cobalt, nickel and copper potential from GEMC’s Nevada based projects.
Figure 1 & 2. Adit entrance and site dump at Lovelock Mine, Nevada
GEMC and Canada Cobalt are pleased to report that they’ve already commenced on-site work related to Re-2OX through a reconnaissance program at Lovelock and Treasure Box. More details will be provided in the near future.
Meanwhile, initial fieldwork is demonstrating the potential to identify high-grade cobalt, nickel and copper mineralization over broader areas than originally believed at Lovelock and Treasure Box.
Mr. Paul Sarjeant, P. Geo., is the qualified person for this release as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and verified the technical information contained herein.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. Global Energy Metals currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada, has an option to acquire an 85% interest in two cobalt exploration projects in Nevada, 150km East of the Tesla Gigafactory, and has entered into an agreement to acquire 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia.
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