logo-loader
viewGlobal Energy Metals Corp

Global Energy Metals Corp shares surge as Hammer Metals resumes drilling at Millennium project

GEMC can earn a 75% interest in the project, which is in Queensland, Australia

periodic table
The last resource estimate showed 3.1mln tonnes of inferred resources grading 0.14% cobalt, 0.34% copper and 0.12 g/t gold

Global Energy Metals Corp (CVE:GEMC) is excited as its partner Hammer Metals is about to resume first phase drilling and exploration at the Millennium cobalt project in Queensland, Australia.

The current drill programme there is part of an option deal that mean Hammer has a series of commitments for GEMC to earn a 75% interest in the project.

Earlier this month, the firm released results on three reverse circulation (RC) drill holes at Millennium.

First assay results from the project, in Mount Isa, Australia, intersected very wide and significant cobalt and copper grades potentially expanding the existing JORC (Joint Ore Reserves Committee) resource area, the company said.

"We are very pleased with Hammer’s work and the continued high-grade results achieved from the current infill drill programme on Millennium," said GEMC’s vice president of projects Paul Sarjeant.

"Assays continue to support the grades and widths encountered in previous drilling, further demonstrating the consistency and continuity of the high-grade cobalt mineralisation contained within the resource.

"We are excited and look forward to Hammer completing the remaining 1300 meters of the program."

GEMC plans to complete ten diamond holes for an estimated 1,300 meters of drilling within the existing JORC area.

It expects this will further define and upgrade known mineralisation ahead of  new resource estimate.

The programme will follow previous drill intercepts in the northern portion of the mineralised zone completed by Hammer Metals and previous operators.

To date the project area has been tested by only 63 holes for 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.

GEMC shares are up almost 11% in Toronto at C$0.20.

Quick facts: Global Energy Metals Corp

Price: 0.025 CAD

TSX-V:GEMC
Market: TSX-V
Market Cap: $2.42 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Global Energy Metals Corp named herein, including the promotion by the Company of Global Energy Metals Corp in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Global Energy Metals using modern technology to find the metal of the future

Global Energy Metals (CVE: GMC) President and CEO Mitchell Smith and Director of Research and Development for MWH GEO Surveys Marshall MacNabb joined Steve Darling from Proactive Vancouver to discuss the use of Drones at GEMC's Cobalt project in Nevada.  MacNabb talked about the increase...

on 10/02/2019

2 min read