Gold price rises on safety demand as markets look to 2025 in holiday lull
The yellow metal has gained 27% so far this year.
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Vancouver, BC - TheNewswire - June 14, 2022 - Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”), a company involved in investment exposure to the battery metals supply chain, is pleased to announce that it has initialized its summer exploration program at the Lovelock and Treasure Box projects (the “Projects”). The program will a entail multi-prong exploration strategy with two key focuses: compilation and systematic desktop review including the application of GoldSpot Discoveries Corp.’s (TSXV: SPOT) (OTCQX: SPOFF) (“GoldSpot”) artificial intelligence (AI) and Machine Learning technology to build off the knowledge acquired in prior programs; and the undertaking of a regional sampling program to assess high potential target areas with the aim to make significant new discoveries throughout the prospective landholdings and allow the Company to better focus drilling efforts and unlock value across its significant footprint in the Stillwater Range, Nevada.
Highlights:
The Lovelock Mine project is a past-producing high-grade cobalt, copper, nickel project on the doorstep of Tesla’s Gigafactory in Nevada.
In a recent drill program at Lovelock, elevated values of cobalt, nickel and copper were intercepted in three of the holes which targeted possible mineralization beneath the historical mine workings.
The Treasure Box project hosts mine workings from limited copper production. A historical diamond drill hole drilled at the Treasure Box by the Boyer-Nevada Copper Company reportedly intersected 1.52% copper over 85 feet (25.9 metres) with mineralization beginning at surface.
Global Energy holds an 85% interest in the Projects through its wholly owned subsidiary, US Battery Metals Corp.
GEMC is utilizing GoldSpot’s artificial intelligence and machine learning technologies to help optimize exploration targets.
The summer programs will focus on developing new targets on the Lovelock project and further define high potential historical prospects from the target pipeline compilation on the Treasure Box project.
Global Energy’s Project Development Manager, Timothy Strong, commented:
"We are excited to launch our 2022 exploration campaign. We’re looking forward to having boots back on the ground in Nevada and will be systematically undertaking a regional sampling program in the vicinity of several high potential target areas. These and other areas will be assessed during the program as we work to make significant new discoveries throughout our prospective landholdings and prepare for next phase drilling on the properties.”
Exploration Program Strategy
Fieldwork: GEMC understands the importance of implementing systematic exploration programs. Using layers of geological data will enable the company to increase its understanding of the mineralization at both the Lovelock Mine and Treasure Box projects. In addition to the exciting work being completed by Goldspot, the Company will shortly commence a project wide soil sampling campaign, rock sampling campaign and structural mapping exercise.
The soil and rock sampling campaigns will assist Goldspot in their machine learning targeting for the projects. Due to the structurally controlled nature of the mineralization on the properties, the Company will conduct a structural mapping exercise to further understand the controls on mineralization and potential extensions.
Recent geophysical results have outlined large areas with anomalous geological potential for new discoveries at both projects, the field work will focus efforts at a number of these new and existing high-priority battery metals targets.
The results of these studies will be used to target a phase one drill program at Treasure Box and a phase two drill program at Lovelock. Both projects are fully permitted for drilling.
GoldSpot Discoveries Engaged for the Lovelock and Treasure Box Projects in Nevada
GoldSpot, a leading technology services company leveraging artificial intelligence and data science, has been engaged by GEMC to apply its proprietary machine learning and geoscience expertise to advance the Treasure Box and Lovelock Mine projects east of Reno, Nevada.
GoldSpot will provide GEMC with a prospectivity and targeting analysis for cobalt, nickel and copper using machine learning expertise on the Lovelock and Treasure Box projects. GoldSpot's team of geoscience and data science experts will process and interpret all geoscience data provided by GEMC in these areas of interest, plus additional available data including multispectral imagery for regional analysis, for the purpose of an advanced machine learning-assisted exploration effort.
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Qualified Person 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.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a ‘consolidate, partner and invest’ approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.
As demonstrated with the Company’s current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, GEMC is investing-in, exploring and developing prospective, scaleable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.
Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity. Global Energy Metals believes ‘Now is the Time’ to be part of the Electrified Future.
About GoldSpot Discoveries Corp.
GoldSpot Discoveries Corp. (TSXV: SPOT) (OTCQX: SPOFF) is a technology company using artificial intelligence to revolutionize the future of global mineral exploration with a full suite of data and knowledge-driven SaaS tools and services. GoldSpot works with industry leaders across all commodity and deposit types to identify new exploration targets, develop cutting-edge technologies and to strategically invest in mineral exploration companies. Our leading team of expert scientists merge geoscience and data science to deliver bespoke solutions that save time, reduce costs and produce far more accurate results than ever before possible.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals
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Cautionary Statement on Forward-Looking Information:
Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
We seek safe harbour.
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