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Global Energy Metals Announces Update on the Millennium Project Following Drilling Assays Confirmed High Cobalt Grades
(TheNewswire) Vancouver, BC - TheNewswire - February 16, 2023 - Global Energy Metals Corpor...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Announces Update on the Millennium Project Following Drilling Assays Confirmed High Cobalt Grades \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC - TheNewswire -\nFebruary 16, 2023 - Global Energy Metals Corporation\n \n \n (\n \n \n TSXV:GEMC\n \n \n )\n \n \n (\n \n \n OTC:GBLEF\n \n \n )\n \n \n (\n \n \n FSE:5GE1\n \n \n )\n \n \n (“Global Energy Metals”, the\n“Company” and/or “GEMC”)\n \n \n , a\nmulti-jurisdictional, multi-commodity critical mineral exploration and\ndevelopment company focused on growth-oriented battery metal projects\nsupporting the global transition to clean energy, announces that after\nthe completion of multiple drill campaigns at the\n \n \n \n \n Millennium Cobalt-Copper\nproject\n \n \n \n \n \n (“Millennium” and/or the “Project”) and review of key\nmineralized intercepts confirming high cobalt grades, that the Project\nis ready for a significant update to the historical resource estimate.\n \n \n \n \n \n \n Due to the potential increase to\npreviously reported tonnes and the suggested significant economic\nvalue of cobalt as well as copper and gold in the project, the updated\nresource estimate warrants GEMC’s joint venture partner, Metal Bank\nLimited (“Metal Bank” and/or “MBK”), to secure an experienced\nconsulting group to complete a new study.\n \n \n \n \n \n \n Metal Bank is speaking with qualified\nparties and is expecting to finalise their engagement shortly which\nwill allow for the completion of the updated cobalt-copper resource\nand its release to the market. GEMC will provide further updates to\nthe project and updated resource when made available.\n \n \n \n \n \n \n Having recently incurred in excess of\n \n \n \n \n \n $1 million in\nexploration spend\n \n \n \n \n \n on\nthe project, MBK now holds a 51% interest in the Millennium project\nwith MBK having the sole and exclusive right to earn an additional 29%\njoint venture interest (taking its total interest to 80%) by funding\nexploration expenditure to the amount of $2 million.  GEMC holds a\ncarried 49% interest in the Project.\n \n \n \n \n \n \n The Millennium Project represents an\nexcellent opportunity for the advancement and development of a\nc...