Vancouver, BC - TheNewswire - September 8, 2022 - Global Energy Metals Corporation( TSXV:GEMC ) | ( OTCQB: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 results of a property-wide comprehensive target generation that Earthlabs Inc., formerly GoldSpot Discoveries Corp. (TSX-V:SPOT, OTCQX:SPOFF) (“Earthlabs”) completed on the Lovelock and Treasure Box projects in the Stillwater Range in Nevada. Earthlabs was engaged to apply their proprietary machine learning applications (“AI”) and geoscience expertise to assist the Company in expanding discoveries and identifying new high-priority target areas.
Highlights of the GoldSpot-GEMC Collaboration:
Earthlab's AI and geological interpretation highlights cobalt, nickel, copper potential at GEMC's Nevada based projects;
A total of 30 exploration targets have been identified, 15 on the Lovelock Project and 15 targets identified on the Treasure Box Project;
In preparation for field work, GoldSpot provided a map of probable target zones, resulting from the AI analysis allowing for time-and cost-efficient field exploration; and
The Company will begin mobilizing for a field program to field check the exploration target areas presented to help confirm lithologies and validate and prioritize the targets.
Mitchell Smith, President & CEO, commented:
“The investigative work undertaken by the Earthlabs technical team along with their machine learning and AI application significantly improve our understanding and the potential for a much larger mineralized system on our land holdings for those metals, like cobalt, nickel and copper, that are critical to an electrified future.”
Vincent Dubé-Bourgeois, CEO & Director of Earthlabs also commented:
“The work done by Earthlabs has identified a series of targets for GEMC to focus their exploration work on. We’ve taken a large area of land and using our proprietary Smart Target approach have reduced the area of focus to maximize efficiency for exploration. Our technological approach allows Global Energy Metals to gather the most information possible in the areas that matter the most and increase exploration success. ”
Global Energy’s summer programs focused on developing new targets on the Lovelock project and further defining high potential historical prospects from the target pipeline compilation on the Treasure Box project. GEMC is utilizing Earthlabs’ AI and machine learning technologies to help optimize exploration targets at its Nevada-based properties. Earthlabs works with leading exploration and mining clients across all commodities and deposit types, using cutting-edge technology and geo-scientific expertise to mitigate exploration risks and significantly increase the efficiency and success rate of mineral exploration across resources.
Analytical workflow consisted of the processing diverse geoscience datasets, including aeromagnetic data, ground IP, drill hole geological data, and rock and soil data. The data integration having homogeneous coverage into a Machine Learning datacube led to a robust supervised-AI model that generated targets with a high prediction score for cobalt, copper and nickel (Figures 1 and 2).
Figure 1. AI & Machine Learning targeting map showing the 15 exploration targets identified at the Lovelock Project, Nevada Lovelock Project, Nevada
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Figure 2. AI & Machine Learning targeting map showing the 15 exploration targets identified at the Treasure Box Project, Nevada
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Cobalt, nickel and copper are the key known commodities associated with the Lovelock and Treasure Box Projects. Mafic to ultramafic intrusions or flows are commonly the sources for these commodities. Within the area of interest, stringers of cobalt-nickel-copper mineralization occur in rock surrounding diorite (mafic) units, near the contact with the felsic flows-tuff. The predicted geological map highlights several clusters as probable mafic intrusion and flow, and several other clusters as probable felsic material. Earthlabs recommends to prospect with priority at the boundary zones of the interpreted mafic and felsic units, and proximal to interpreted structures. The Company will, in the very near future, initiate a field program to field check the exploration target areas presented to help confirm lithologies and validate and prioritize the targets for future exploration and drilling.
• Follow up work such as ground IP on some of the more intriguing exploration targets.
• Consider additional geophysical surveying to provide full coverage layers for the property. Options include additional airborne surveying such as EM, radiometrics and VLF.
• Earthlabs M-PASS system could provide gradient magnetic, VLF, radiometric and LiDAR data.
• Field checks of the exploration target areas presented here to help confirm lithologies and validate and prioritize the targets. Currently there are no priority targets.
The Property currently consists of 81 unpatented lode claims in the Cottonwood Canyon area of the Stillwater Range totaling approximately 1,586 acres (642 hectares). It was discovered by George Lovelock and Charles Bell about 1880. According to U.S. Government annual reports, the Lovelock Mine saw limited production of nickel, copper and cobalt beginning in 1883. The primary cobalt mineral was identified as “cobaltite”. The general average of the 200 tons shipped in 1886 averaged 14 percent cobalt and 12 percent nickel. The mine operated from 1883 to 1890 to the 100 foot level, reporting 500 tons of cobalt and nickel mineralized material shipped to England for processing. After intermittent production, an English company attempted smelting on site in 1898 but little or no production was made (Source: “Mineral Resources of the United States for 1885”, 1886). No further production from the Lovelock Mine is known for well over a century providing GEMC an excellent opportunity to unlock the potential value of the deposit through exploration work. In a recent drill program at Lovelock by GEMC , elevated values of cobalt, nickel and copper were intercepted in three of the holes which targeted possible mineralization beneath the historical mine workings.
Treasure Box hosts mine workings from limited copper production, which occurred until early into the 20th century. A historical diamond drill hole (circa 1910) 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. A reverse circulation hole drilled on the Treasure Box by Utah International in 1976 returned 1.55% copper over 40 feet (12.2 metres) from a depth of 85 to 125 feet (25.9 to 38.1 metres), and the hole was stopped in chalcopyrite mineralization. The core Treasure Box claims were held continuously for over 20 years by a private company but were relinquished in September 2017, leading to their acquisition by Nevada Sunrise. GEMC received approval from the US Bureau of Land Management (the “BLM”) for a proposed exploration and drill plan at the Treasure Box project that includes up to thirteen (13) vertical drill holes from thirteen (13) different locations. Planned drill hole lengths range from 350 feet (107 metres) to 500 feet (152 metres). Total drilling is anticipated to be 5,850 feet (1,784 meters), with a minimum drilling length of three (3) drill holes totaling 1,350 feet (412 metres). Depending on findings, individual drill hole lengths could be extended by 30 to 50 feet (10 to 15 metres) as determined by the company’s on-site representative. The targeted prospects have been identified by Global Energy Metals through a systematic exploration program over the past several months that has included an airborne magnetic survey, reinterpretation of historical Induced Polarization (IP) data, detailed mapping and desktop review of historical data including past drilling.
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.
Earthlabs is a technology company working to revolutionize the future of global mineral exploration with a full suite of data and knowledge-driven SaaS tools and services. EarthLabs represent a collection of industry-leading earth modelling, geology data management and specialized financial products that help both mining companies and mining investors make better decisions.
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.
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 this electrification movement.
Vancouver, BC, V6B 1R8
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.
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