Vancouver, BC / TheNewswire / March 19, 2018 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or "GEMC") is pleased to announce that its partner, Marquee Resources Limited (“Marquee”), has appointed Mr. Paul Sarjeant as General Manager of North American operations. Mr. Sarjeant will be responsible for the implementation of the upcoming exploration program at the Werner Lake Cobalt project (“Werner Lake”) located in Ontario, Canada.
Commenting on the appointment, Mr. Charles Thomas, Marquee Managing Director said, "We are pleased to welcome Mr. Sarjeant to the Marquee team. Given the well documented future supply issues for cobalt and recent corporate activities in the sector, we are excited to now embark on the aggressive exploration program at Werner Lake, and are keen to rapidly unlock the significant potential of the deposit and regional surrounds.”
This appointment is considered to be of great significance as Marquee begins to bolster its management team ahead of a meaningful exploration program at Werner Lake with the expectation to increase the existing NI 43-101 Resource Report and confirm the larger historically reported values.
Mr. Sarjeant’s role in overseeing the exploration activities at Werner Lake will further align the goals of both Global Energy Metals and Marquee and signifies a strong alliance between the two parties and development at Werner Lake.
Marquee has also shortlisted a number of high calibre candidates for the position of Chief Geologist and it is anticipated that an appointment and associated announcement will follow.
The Werner Lake project, which abuts First Cobalt Corporation’s western Ontario cobalt assets, will now be the focus of a $2.5 million exploration program funded solely by Marquee. Marquee’s priority will be to identify and delineate additional high-grade cobalt mineralisation at Werner Lake. The company is in the process of assessing quotes for drilling permits and contractors and is establishing road and camp requirements.
Werner Lake Cobalt Project
The Werner Lake Cobalt Mine operated in the 1940s as a high-grade source of cobalt. Since that time, the project was taken back to mine decision by Canmine Resources. Canmine Resources completed a significant amount of work on the project including; helicopter-borne geophysics, approximately 22,860 m of diamond drilling over numerous campaigns, several resource calculation and approximately 258 m of underground ramping, drifting and raising into the West Cobalt Deposit. They also completed a 10,000 tonne bulk sample and metallurgical bench test milling and chemical analysis on the mineralised material. Canmine Resources also completed several preliminary feasibility studies and economic modeling and were in the process of completing a definitive feasibility study when they filed for bankruptcy. Additional work was completed in 2009-2010 by Puget Ventures and all this work formed the basis for the recent NI 43-101 resource report issued by GEMC (see press release September 6, 2017). A work program including diamond drilling (+3,500 m), to further upgrade resource categories and extend the mineralised envelope, as well as additional metallurgical work and underground chip sampling has been recommended. The mineralised zones remain open in all directions.
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.
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 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
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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.
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We seek safe harbour.