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Figure 1 – Lovelock Mine Project Phase 1 Drill Program map outlining the proposed 8 drill holes with corresponding high chargeability targets.
The first pass drilling program at the
Highlights:
- Application will amend an existing approved permit in place for drilling the Lovelock Mine Property;
- First pass drilling program aims to confirm intersections of cobalt-nickel-copper-bearing structures within historical workings;
- The Company’s exploration team is in discussions with a number of drilling operators to begin the approximate 1,400 metre short-hole drill program;
- Drill activities are anticipated to commence in
May 2021 , subject to weather conditions.
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Figure 2 – Lovelock Mine Project Phase 1 Drill Program map outlining the proposed 8 drill holes with corresponding high susceptibility surface pods and chargeability targets.
“This is a dynamic and exciting time for the company. The announcement of the Company expanding its portfolio into
As previously reported in late 2020,an independent interpretation of the regional structure of the Lovelock property, specifically in the vicinity of the historical mining of high-grade cobalt and nickel that occurred at the Lovelock Mine suggest that the Lovelock Mine is located within a corridor of strong structural control with several subparallel structures indicating the potential for multiple mineralized zones related to these structures. Importantly, the geophysics study has identified high-priority drill targets that complement the exploration fieldwork previously conducted.
The data interpretation has allowed for a better understanding of the area, extending from previously mined orebodies to key undeveloped prospects and exploration targets, and greatly enhances the Company’s ability to successfully target and explore for new, buried, high-grade cobalt-nickel-copper deposits across the large footprint in a highly prospective mining district.
The Company is in active discussions with several drill operators with the intent to engage and commence a phase one drill program in the spring, weather permitting.
Definitive Agreement -
The Company is pleased to announce that it has entered into a definitive agreement with DG Resource Management for the previously announcedacquisition (the “Acquisition”) of a fifty percent (50%) interest in a portfolio of battery metal projects, which include:
- Monument Peak,
Idaho (Copper, Silver, Gold)-
Chance Lake ,Quebec (Nickel, Copper, Cobalt)- Amiral,
Quebec (Nickel, Copper, PGE’s)
The Acquisition is part of an ongoing effort by the Company to assemble battery metals-rich projects in top-tier mining jurisdictions with exploration & development upside.
For additional information on the battery metal project portfolio and terms of the Acquistion, please refer to the Company’s news release dated
Private Placement:
In conjunction with the Acquistion the Company has announced a private placement offering for a minimum 2,000,000 units (the “Units”) of the Company at a price of
The net proceeds of the Offering will be used to fund the Acquisition as well as for business development and working capital purposes.
The Company has agreed to and may pay a finder’s fee of 8% cash and 8% broker warrants for Units sold to certain investors (“Broker Warrants”). Each Broker Warrant entitles the holder to acquire one common share of the Company at a strike price of
All securities to be issued pursuant to the Offering will be subject to a four month hold period from the closing date under applicable securities laws in
The securities issued in connection with the Offering have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in
Qualified Person
Mr.
(TSXV:GEMC | OTC:GBLEF | FSE:5GE1)
For Further Information:
#1501-128 West
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twitter:@EnergyMetals|@USBatteryMetals|@ElementMinerals
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 withregulatory approvals and timelines. Although
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
We seek safe harbour.
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