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Global Energy Metals kicks off drill programme at Millennium Cobalt project

“This drilling is a great step to advance this cobalt project forward. Scale is critical to build economic projects to legitimately supply the battery chain"
Global Energy Metals kicks off drill programme at Millennium Cobalt project
At present, mineralisation remains open at depth along the strike extent of the JORC resource area

Global Energy Metals Corp (CVE:GEMC) said its Australian partner and operator, Hammer Metals, has started drilling at the Millennium cobalt project in Mt. Isa, Queensland.

In a statement on Wednesday, the company said it expects completing three drill holes before the end of 2017, with the balance of the Phase 1 exploration programme to be carried out in 2018.

READ: Global Energy Metals completes oversubscribed financing, raising C$1.12mln.

The aim of the drill programme is to increase the envelope of mineralisation within the resource area by testing depth and strike extensions.

Infill drilling will also be conducted to upgrade mineralisation to higher confidence levels within the core of the resource area. Initial drill holes will test gaps in the current drill database and look to provide a better understanding of significant zones of mineralisation.

Global Energy's President and CEO, Mitchell Smith said in the statement: " … previous work has very encouraging results on the potential scope and tonnage on the existing land package.

“This drilling is a great step to advance this cobalt project forward. Scale is critical to build economic projects to legitimately supply the battery chain."

Millennium Cobalt project

The Millennium Cobalt Project is an advanced staged cobalt project with a large defined zone of cobalt-copper mineralisation which remains open at depth and along strike.

Hammer Metals completed a JORC 2012 Resource estimate in late 2016 and reported 3.1 million tonnes of Inferred Resources* grading 0.14% Co, 0.34% Cu and 0.12 g/t Au (using a CuEq cut-off of 1.0%).

Under Canadian reporting standards this resource is considered a "historic estimate". The 2016 JORC resource estimate completed by Hammer Metals Ltd. outlined a mineralised zone over a strike length of approximately 1.5 km.

Additional mapping, soil geochemistry and rock sampling has identified an additional 1.5 km of anomalous cobalt-copper mineralisation in geological analogues that occur along a potential strike extension in the northern half (Northern Target) of the tenement package.

This area has not been tested with any drilling to date. The Northern Target provides excellent opportunity to increase the overall resource potential of the Millennium project, the company said.

To date the project area has been tested by only 63 drill holes (percussion, RC and diamond) for a total of 7,891 metres. Most holes have been drilled within 200 metres of surface, with few holes reaching to depths greater than 250 metres below surface.

At present, mineralisation remains open at depth along the strike extent of the JORC resource area.

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