The group said it was making relevant applications for permitting further exploration and project development work on its Werner Lake cobalt project in Ontario.
Last week, the NI 43-101 report, covering the mine site deposit and the west cobalt deposit, from AGP Mining Consulting Inc included a higher confidence indicated resource of 57,900 tonnes at 0.51% cobalt and an inferred resource of 6,300 tonnes at 0.48% cobalt at a 0.25% cut-off grade.
Notably, there was also significant potential for increased tonnage at the site, the firm revealed.
AGP recommended that several work programs, including diamond drilling, dewatering the underground workings, metallurgical testing and surface sampling are warranted at the site.
"Global Energy Metals will make the necessary applications to commence the work programs that have been recommended. The key focus will be additional diamond drilling to increase the mineralized zones and upgrade inferred resources to the indicated resource category," the firm said in a statement on Monday.
"With its high-grade cobalt grades and location in a pro-mining stable jurisdiction the Werner Lake cobalt project is seen as being a future supply of cobalt material. The company is actively seeking potential partners that will allow for the development and value build at Werner," it added.