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Global Energy Metals executives on the road in Australia to reach out to investors

Mitchell Smith and Paul Sarjeant will meet with existing and potential joint venture partners..

The firm hopes to attract investors hoping to capitalise on the booming cobalt market

Global Energy Metals Corp (CVE:GEMC) said its senior management are travelling to Perth and Sydney in Australia to foster further awareness of the resource firm's business.

Chief executive Mitchell Smith and vice-president of projects and director Paul Sarjeant will meet with existing and potential joint venture partners and introduce investors to its pure play cobalt exposure opportunity, it said.

"With the growing demand for cobalt and battery metals and our partnerships with Marquee and Hammer based in Australia, it is a natural fit for GEMC to reach out to investors in Australia who understand this growth trend and are looking to capitalize on the booming cobalt market," said Mitchell Smith, president and chief executive of GEMC.

"GEMC provides investors much needed exposure to a pure-play cobalt investment opportunity.

"We look forward to further developing our existing relationship with our JV partners and hope to strengthen our cobalt portfolio through new partnerships built from meetings during our time here."

The firm aims to spread its message about the rapidly advancing  Millennium cobalt project in Mt. Isa, Australia, alongside its partner Hammer Metals.

It also aims to reinforce the importance of its strategic alliance with Marquee Resources in advancing the Werner Lake cobalt project in Canada.

Werner Lake operated in the 1940s as a high-grade source of cobalt, but since that time, it was taken back to mine decision by Canmine Resources.

Canmine completed a significant amount of work on the project,  including helicopter-borne geophysics, around 22,860  metres (m) of diamond drilling over numerous campaigns, several resource calculations and around 58 m of underground ramping, drifting and raising into the West Cobalt deposit.

Canmine also completed several preliminary feasibility studies and economic modelling and were in the process of completing a definitive feasibility study when they filed for bankruptcy.

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

Hammer completed a JORC compliant resource estimate in late 2016, which showed 3.1mln tonnes of inferred resources at a grade of 0.14% cobalt, 0.34% copper and 0.12 g/t (grams per ton) gold, using a CuEq (copper equivalent) cut-off of 1.0%.

Following the investor roadshow, Sarjeant will be joining the Hammer team on site at Millennium to oversee the drill program announced on February 1 this year.

Previous drilling indicated that the resource remains open and is a prospective target for potential resource expansion.

The company had excellent results from the first three holes, and has since remobilized crews and equipment to resume the first phase drill and exploration program.

The firm aims to complete ten diamond drill holes for an estimated 1,300 meters of drilling within the existing JORC resource area.

GEMC shares are unchanged at C$0.195 each.

Quick facts: Global Energy Metals Corp

Price: 0.205 CAD

Market: TSX-V
Market Cap: $3.76 m

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Global Energy Metals sells total interest in Werner Lake Project to CBLT

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on 12/01/2020

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