Proactive Investors - Run By Investors For Investors

Global Energy Metals excited as partner kicks off drilling at key Werner Lake cobalt project

Phase 1 of the program will consist of around 2,000m of diamond drilling..
Global Energy Metals excited as partner kicks off drilling at key Werner Lake cobalt project
Cobalt is a vital component in the batteries of electric cars

Global Energy Metals Corp (CVE:GEMC) said diamond drilling kicked off at its Werner Lake Cobalt project in Ontario.

Phase 1 of the programme will consist of around 2,000m of diamond drilling, and subject to positive findings, partner Marquee will immediately move to Phase 2, which will encompass 3,500m of  drilling.

READ: Global Energy Metals sees need for diversified supply of cobalt; acquires 100% of Millennium project

"We are thrilled to have drills turning again at the past producing Werner Lake Cobalt project and look forward to a successful work campaign by our partner Marquee Resources," said GEMC president and chief executive Mitchell Smith said.

The Werner campaign has been designed to increase the existing indicated resource of 79,400 tonnes at 0.43% cobalt,  which remains open in all directions.

Initially, drilling will focus on the Werner Lake West area where the bulk of the NI 43-101 resource estimate was delineated.

Planned holes will test depth extension of the mineralised zone(s), confirm historic drill intercepts and will attempt to convert areas of inferred mineralisation to the indicated category.

Phase 2 drilling would continue to test the down dip/down plunge potential of the mineralised zone at both the Werner Lake West and the Old Mine Site areas.

The property is one of the key cobalt resources in Canada and it has seen some history.

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

Additional work was completed in 2009-2010 by Puget Ventures and all this work formed the basis for the NI 43-101 resource report from Global Energy in September last year

That resource relates to the historic underground workings at the old mine site, now referred to as the mine site deposit and the west cobalt deposit.

Highlights 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.

The mineralised zones remain open in all directions.

View full GEMC profile View Profile

Global Energy Metals Corp Timeline

Related Articles

1541534695_shutterstock_1018668163.jpg
November 06 2018
Two composite samples were sourced from diamond drill core from earlier exploration
Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use