Global Energy Metals' JV Partner Kingsrose Mining Continues To Intercept New Zones Of Nickel-Copper Mineralisation At The Rana Project
Vancouver, Dec. 18, 2024 - Global Energy Metals Corp. TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 ("Global Energy Metals", the "Company" and/or "GEMC"), a multi-jurisdictional, multi-commodity critical mineral exploration, development and project generating company focused on growth-oriented projects supporting the global transition to clean energy, is pleased to report that all analytical results have been received from the 2024 core drilling programme at the joint venture partnered Råna Nickel-Copper-Cobalt project ("Råna), where a total of 706 metres was drilled across three holes at the Rånbogen prospect. (Figures 1 to 4, Tables 1 and 2). GEMC has a 10% ownership of Narvik Nikel, a Norwegian holding company which holds an 100% interest in Råna. GEMC also has an 1% NSR royalty on Råna. Kingsrose Mining Ltd. (ASX: KRM) ("Kingsrose") is earning up to an 80% interest in Råna by spending $15 million in project expenditures on the project.
Highlights
• Drilling tested a previously undrilled zone of outcropping massive sulphide located 600 metres northwest of the massive sulphide zone intercepted at Rånbogen in 2023 which returned 26.2 metres at 0.7% Ni, 0.2% Cu and 0.06% Co from 169.0 metres (see news release dated 23 October 2023).
• Two holes intercepted broad intervals of disseminated to net-textured sulphide mineralisation demonstrating the presence of high nickel tenors, returning a maximum grade of 1.6% Ni, 0.2% Cu, 0.15% Co (interval length 0.64m, hole 24RAN010, Figure 1):
o Hole 24RAN009 intercepted 13.8 metres at 0.4% Ni, 0.1% Cu, 0.04% Co from 143 metres (Figure 3).
o Hole 24RAN010 intercepted two zones of mineralisation:
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15.7 metres at 0.3% Ni, 0.1% Cu, 0.02% Co from 143 metres; and
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15.8 metres at 0.5% Ni, 0.1% Cu, 0.06% Co from 165.2 metres (Figure 4).
• Exploration has demonstrated nickel-copper-cobalt sulphide mineralising processes have occurred in multiple 'stacked' zones throughout the 10-kilometre diameter Råna intrusion, indicating a large search-space for future discovery (Figure 5).
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Due to current nickel market conditions, limited exploration work is currently planned for 2025 to reduce expenditure and allow for Kingsrose to consider how best to advance the Råna project.
Andrew Tunningley, Kingsrose's Head of Exploration, commented:
"The 2024 drilling program has again discovered a new zone of broad near surface mineralisation associated with a large scale conductive geophysical anomaly. Coupled with the reconnaissance program results announced 16 September 2024, it remains clear that Råna is prospective for polymetallic base metal sulphide mineralization within a large scale intrusive system, and we consider this project to remain underexplored."
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Figure 1: Massive pyrrhotite-pentlandite-chalcopyrite with rounded clasts of entrained norite, from a 0.64 m sample that returned 1.6% Ni, 0.2% Cu, 0.15% Co, 179.50 m, 24RAN010. NQ diameter drill core.
Table 1: Drill collar details for reported drill holes, Råna Project, Norway
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Table 2: Significant Intercepts for reported holes, Råna Project, Norway
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Figure 2: Map showing reported drill holes, geology, MT conductive anomalies, modelled EM
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Figure 3: Cross section of holes 24RAN008 and -009, Rånbogen Prospect
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Figure 4: Cross section of holes 24
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Figure 5. Upper: Long section of the Råna intrusion with prospect location. Lower: Schematic diagram showing idealised intrusion hosted Ni-Cu-Co sulphide system and features observed at Råna. Figure after Barnes et. al., 2016. The mineral system approach applied to magmatic Ni-Cu-PGE sulphide deposits. Ore Geology Reviews, 76, 296-316.
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. He is a shareholder and Director of the Company.
About Kingsrose Mining
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Global Energy Metals Corporation
(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.
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