(via TheNewswire)
Highlights to Date
Phase 1 drilling at Lovelock is well underway with over 800 metres in seven (7) reverse circulation drill holes completed with more planned.
Drilling intersected possible mineralization, alteration and primary structures, targeted through the re-interpretation of historical geological and geophysical data.
A number of drilled sections have visual characteristics similar to rock observed on the waste dump of the
Lovelock Mine that when analyzed with a portable X-ray fluorescence (“XRF”) device showed elevated cobalt, nickel and copper values.Drill cuttings are being logged and sampling of the Phase 1 drilling is underway, with initial assay results expected in the weeks ahead.
The Companybelieves that Lovelock displays potential for near-surface cobalt, nickel and copper mineralisation and could become a significant discovery opportunity in the highly prospective Stillwater IOCG region.
"We are very pleased with the progress made from Phase I drilling which primarily targeted the untested, near surface IOCG system, as well as additional targets outside the historical mining zone. These chargeability anomaly targets were established by our team as highly prospective through re-interpretation of historic geological and geophysical data. So far, the majority of the holes drilled have intersected interesting structures, alteration, and possible mineralization visually comparable to descriptions of rocks from the
The drilled intervals in the majority of holes drilled are primarily highly altered HMC volcanic and volcanoclastic rocks. Specular hematite is dominant in some sections and is likely of exhalative origin. It is in places finely laminated and occurs as matrix in debris flow breccia units evident in the drill cuttings. The targets at this location were: 1) a chargeability anomaly on the down-thrown western side of the main fault on which the original shaft was sunk and 2) primary sulfide mineralization beneath the oxide zone that was the focus of historical mining.
Click Image To View Full Size
Figure 1. Images from the ongoing drill program at Lovelock including drilled cuttings that have visual characteristics similar to rock observed on the waste dump of the
Samples from the holes drilled will or have be delivered to American Assay in
Click Image To View Full Size
Lovelock Drill Program
The majority of the first pass drilling program this season has been focused on confirming intersections of cobalt-nickel-copper bearing vein that correlates with historical underground mining and mapped superficial cobalt-nickel-copper occurrences. The drill program is directed at two target areas within the property: the “
Drill targets were generated through a high-power induced polarisation (“IP”) ground geophysical survey, which were subsequently prioritized by a follow-up surface geochemical program and airborne magnetic survey. The data interpretation has allowed for a better understanding of the area, extending potential targets from previously mined orebodies to key untested prospects and exploration targets. The geophysical work and compilation of other data has greatly enhanced the Company’s ability to successfully target and explore for new, buried, high-grade cobalt-nickel-copper deposits across the large footprint in a highly prospective mining district.
Qualified Person
Mr.
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
As demonstrated with the Company’s current copper, nickel and cobalt projects in
Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity.
For Further Information:
#1501-128 West
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twitter:@EnergyMetals|@USBatteryMetals|@ElementMinerals
Subscribe to the GEMC eNewsletter
Cautionary Statement on Forward-Looking Information:
Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although
GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.
Neither
We seek safe harbour.
Copyright (c) 2021 TheNewswire - All rights reserved.
Copyright (c) 2021 TheNewswire - All rights reserved., source