Global Energy Metals Corp (TSX-V:GEMC) said its partner Metal Bank Limited has released assays from the first two drill holes at the Millennium copper, cobalt and gold project in Queensland, Australia, which included 16 metres (m) of 1.1% copper, 0.3% cobalt, and 0.4 grams per tonne (g/t) gold from 80m depth.
Global Energy Metals noted that drilling was focused on resource validation work in the southern part of the Millennium project area and on assessing whether the mineralised system continues in the Northern Extension Area.
“Initial findings by our partner have shown that there is potential to significantly expand the scale at Millennium. Additional review of this data along with previous work will look to confirm that the broader underlying system extends well beyond the deposit as currently defined,” Global Energy Metals CEO Mitchell Smith said in a statement.
“Clearly we are encouraged by these initial results and look forward to reporting on additional assays once received,” Smith added.
In addition, Global Energy Metals said initial reverse circulation (RC) drill testing of the Northern Area has been completed, with visual copper mineralisation observed and results pending.
The company added that results have identified that some higher-grade zones may remain untested within the resource area, providing confidence in the significant growth upside of the existing Inferred resource located in the southern and central areas of the project.
Metal Bank has an exclusive six-month option to earn up to an 80% interest in the Millennium project.
Global Energy Metals provides investors with exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets. The Vancouver, British Columbia- based junior holds interests in several precious and battery metals projects globally.
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