Tickers: XTSX:GEMC, PINX:GBLEF
Vancouver, BC / TheNewswire / October 17, 2018 – Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 ("Global Energy Metals", the "Company" and/or "GEMC") is pleased to announce that following the successful completion of a phase 1 exploration program that partner Marquee Resources Limted ("Marquee") has signed an agreement with SGS Canada Inc. ("SGS") to conduct flotation and hydrological test work on the Werner Lake Cobalt project ("Werner Lake" and/or the "Project") located in Ontario, Canada. The multi-phase Werner Lake exploration program is part of a $ 2.5 million commitment to advance the project and is being solely funded by Marquee for their earn-in of up to 70% interest in the Project. Global Energy Metals currently owns 100% of the Werner Lake Project.
Marquee has completed 5 HQ diamond drill holes totaling 452 metres, one from the Old Mine Zone and four from the West Cobalt target area in order to collect approximately 150 kg of material for metallurgical testing of the mineralisation at Werner Lake. Drill core has been logged and sampled. Drill core has been logged and sampled. Core samples have been shipped to AGAT Labs for analysis. Once results have been received from AGAT, a composite sample will be created and shipped to the SGS Minerals laboratory in Lakefield, Ontario for study.
The composited sample will be stage-crushed to pass 10 mesh and homogenized. A head sample will be selected and submitted for Co, Cu, Fe and As analysis.
Metallurgical work will include:
– batch floatation testing to identify appropriate conditions for subsequent bulk floatation testing to produce cobalt concentrate,
– batch POX testing to establish conditions for the extraction of cobalt from bulk concentrates,
– bulk batch POX testing to produce cobalt PLS for downstream testing, and
– bench scale solution treatment to evaluate potential cobalt and copper products.
The program is expected to take 3 months to complete once the lab has received the sample and is critical next step when assessing potential off take arrangements with end users of the product.
The phase two drill program is ongoing with Marquee having now completed 15 holes at the Project. The company expects to report the results of the assays from this phase 2 drilling campaign shortly.
About SGS Canada Inc.
SGS is the global leader in inspection,verification, certification and testing services and has been active in Canada for 75 years. SGS’ global centers of xxcellence for their market-leading metallurgical and geochemical businesses are located in Lakefield, Vancouver, Toronto and Quebec City.
Their flowsheet development, geometallurgical, pilot plant testing, chemical analysis and laboratory outsourcing staff have earned the respect of the global minerals industry and they are the world’s leading provider of bankable metallurgical services. They have over 200 metallurgists, chemists and related professionals who bring significant expertise and experience to all these areas.
For more information about SGS please visit their website linked here: https://www.sgs.ca.
Mr. Paul Sarjeant, P. Geo., the Company’s VP Projects and Director, 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.
(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 and is advancing the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to earn-in to the Millennium Cobalt Project in Mt. Isa, Australia.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
t. + 1 (604) 688-4219 extensions 236/237
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. 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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