Global Energy Metals Corp. (GEMC) is acquiring and developing high quality cobalt assets to provide investors exposure to the surging demand for cobalt used in the rechargeable battery and energy storage market.
The GEMC team, with over a decade of cobalt-focused experience, recognized early that cobalt was essential to lithium-ion battery chemistries.
Through years of working with downstream users, including its strategic partnership with Beijing Easpring Material Technology Co. (Easpring), the Company recognized that there is a pressing need to create a diversified, viable supply of material to offset the reliance from DRC sourced cobalt. GEMC's partnership with the battery cathode manufacturer is unique. The company went downstream, direct to the supply chain to ensure that it receive project finance, metallurgical and feasibility support for projects and material purchase.
The Company believes there are significant value opportunities in aggregating projects and building an efficient and reliable raw material supply chain that meets strict end-user specifications in the rechargeable battery sector.
GEMC’s aggregation strategy includes direct investment into advanced cobalt projects, supply through streams, off-take and physical material.
Global Energy Metals is a rare and compelling investment opportunity in the cobalt sector.
Millennium Cobalt Project - Australia
The Project presents as an excellent opportunity to acquire a cobalt asset of significant size with potential to expand mineralisation in close proximity to a processing solution and excellent infrastructure within the Mount Isa region of Queensland, Australia. It is anticipated that GEMC will conduct further infill drilling to tighten drill spacing and test for potential extensions at depth and along strike, which the Company believes, could result in a material increase in the size of the current JORC resource. Additional drilling will allow for greater modelling continuity and increased confidence level of the current reported “inferred resource” category to Indicated and/or Measured categories under NI 43-101 reporting standards.
At current and future predicted cobalt prices, cobalt is the dominant economic metal within the deposit and GEMC will remodel the deposit on a cobalt-equivalent basis.
The Mount Isa Inlier is a highly mineralised, established mining jurisdiction with significant regional infrastructure and several world-class copper-gold-cobalt and lead-zinc-silver mines and deposits, including CuDeco Limited’s operating Rocklands copper-gold-cobalt project located 19 kilometres to the northwest.
The Project comprises five Mining Leases; ML’s 2512, 2761, 2762, 7506 and 7507. Hammer currently has a 100% interest in all five Mining Leases. The tenements are in good standing with no known impediments.
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WERNER LAKE COBALT PROJECT - ONTARIO, CANADA
The work plan will include an updated NI 43-101 resource on a small portion of the potential resource area around the historic underground workings at the “Old Mine Site”, now referred to as the MInesite Deposit and the West Cobalt Deposit. GEMC will also seek specific permits to allow for the dewatering of the historic underground workings and attempt to access those workings to collect a bulk sample to complete metallurgical testing. This testing will help the Company determine what type and quality of battery grade material is potentially produceable from the site, building on the significant metallurgical work of previous operators. Based on the results of the NI 43-101 resource report, the Company will seek to add additional mineralisation through diamond drilling in areas of the greatest potential. At present both the Minesite and West Cobalt deposits remain open at depth and along strike.
Global Energy Metals will be assessing the Werner Lake Cobalt Mine project based on the very significant increase in cobalt prices from USD $10 to USD $24 per pound since March 2016
The project is located near the Ontario-Manitoba border in the Kenora Mining District. The Werner Lake Geological Belt hosts numerous cobalt-copper and base metal showings, deposits and past producing mines. The two largest cobalt deposits defined to date are the Werner Lake Minesite Deposit and the West Cobalt Deposit, both controlled by GEMC. The area has seen extensive exploration and development work since the original discovery of cobalt in 1921. There is likely more cobalt mineralization in the Belt.
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Lovelock Mine & Treasure Box Projects - Nevada, USA
Global Energy Metals entered into an option agreement with Nevada Sunrise Gold, a Vancouver based company, whereby Global Energy Metals has been granted the Option to acquire an 85% undivided interest in the Lovelock cobalt mine and Treasure Box project located in Churchill County Nevada. Consideration is USD$75,000 cash payable over 2 years, 1,728,133 Payment Shares at a deemed per share price of $0.15 and approximately 1,615,459 Re-imbursement Shares to Nevada over 2 years for reimbursement of share payments to be made according to the underlying option held by Primus Resources Ltd. (“Primus”). Re-imbursement shares are subject to a floor price of $0.05. Primus will retain a 2% Net Smelter Return Royalty with the Company and Nevada, as joint venture partners, having the right to purchase half (1%) for 10 years from the effective date of the Primus underlying option for US$1,500,000.
About the Lovelock Cobalt Mine
The Property currently consists of 70 unpatented lode claims in the Cottonwood Canyon area of the Stillwater Range totaling approximately 1,400 acres (567 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.
Australia, Canada & US
President & CEO, Director
Chief Financial Officer
QP & Director
Issued & Outstanding - 47,088,041
Warrants - 10,624,598
Options - not currently 10% - 3,538,029
Fully Diluted - 61,250,668
Getz Prince Wells LLP.
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