Global Energy Metals Announces Investee Company High-Tech Metals Announces Completion of Drilling at Ontario-Based Werner Lake Project
Vancouver, October 25, 2023 - Global Energy Metals Corp. (TSXV:GEMC) (OTC:GBLEF) (FSE:5GE1) ("Global Energy Metals", the "Company" and/or "GEMC"), a multi-jurisdictional, multi-commodity critical mineral exploration and development company focused on growth-oriented battery metal projects supporting the global transition to clean energy, is pleased to report that High-Tech Metals Limited ("High-Tech" and/or "HTM"), an equity investee of GEMC, has announced that the drilling program at the Werner Lake project in Ontario ("Werner Lake" and/or the "Project") has been completed for a total of 798m of diamond drilling. All HTM samples have been sent to the Company's lab services provider (ALS), with assay results expected to start arriving in approximately 2-4 weeks' time.
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Figure 1 - Diamond Drilling at the Werner Lake Project.
This follows the significant results achieved through the Ni-Cu-Co lithogeochemical sampling programme totalling 209 samples collected during the 2023 field season at Werner Lake Project (Werner Lake, or the Project) located in northwestern Ontario (refer ASX release dated 30 August 2023). The results are extremely encouraging for Werner Lake and confirm the Cu-Co potential of the Project, as well as the discovery of high-grade nickel sulphide at surface. Of the 209 samples taken as part of the program, twelve samples exceeded grades of more than 1% cobalt or 1% copper and three samples returned results greater than 1% Ni.
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Figure 2 - Diamond Drilling zones at the Werner Lake Project.
HTM is actively evaluating numerous new project possibilities near Werner Lake. It is consistently conducting thorough internal assessments of projects that align with the HTM's goal of specializing in battery metals. Of special interest are ventures that enhance the Company's involvement in the recently discovered nickel potential of Werner Lake.
Next Steps
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Figure 3 -Werner Lake exploration roadmap for 2023.
HTM is committed to responsible exploration practices and takes measures to minimize the impact of its exploration activities on the environment and local communities.
Location
Werner Lake is located in a known nickel province with the old Gordon Lake Mine 3.5 km to the East. From 1962 to 1972, the old Gordon Lake mine produced 1,370,285 tons averaging 0.92% Ni and 0.47% Cu1 and has existing reserves of 170,420 tonnes averaging 0.85% Ni and 0.35% Cu. To the west of Werner Lake is the Norpax Deposit that has a historic resource of 1,010,000 tonnes 1.2% Ni and 0.5% Cu.
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Figure 4 - Location of Mineral Deposits in the Werner Lake Belt.
High-Tech Metals Limited
High-Tech Metals Limited (ASX:HTM) is an ASX-listed company focused on the exploration and development of its flagship, 100 per cent owned Werner Lake Cobalt Project (the Project) located in north-western Ontario, within the Kenora Mining District, approximately 85 km north-northwest of Kenora, Ontario and approximately 170 km east-northeast of Winnipeg, Manitoba. The Project was acquired from Global Energy Metals Corp. (70%) and Marquee Resources Limited (30%).
Qualified Person
Mr. Paul Sarjeant, P. Geo., a Director and shareholder is the qualified person for this release as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
For Further Information:
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(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.
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.