Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or “GEMC”) is pleased to announce that it has made payment to the Bureau of Land Management (“BLM”) for the required reclamation bond fee to conduct exploration work including drilling on mining claims at the Lovelock Cobalt Mine located in Churchill County, Nevada.
Global Energy has an option on two battery metal projects, the Lovelock Cobalt Mine and Treasure Box, located on the doorstep of the world’s largest lithium-ion battery production plant, the Gigafactory that Tesla Motors Ltd. and partner Panasonic Corp. have built in Nevada.
Mitchell Smith, CEO and Director stated:
“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.
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.”
The exploration program will be based upon ground induced polarization surveys that defined areas of anomalous subsurface chargeability. Encouraging data collected from the geophysical work along with initial geological mapping, chip and channel sampling and prospecting refined these results, generating a number of drill ready targets that will be a focus for Global Energy Metals.
Global Energy is currently reviewing work program options and anticipates announcing details of the first phase exploration program in the near future.
Global Energy Metals Corporation
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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