Permit Application For First-Ever Drill Program At Lovelock Cobalt-Nickel-Copper Project

VANCOUVER - Global Energy Metals Corporation reported that it will submit a permit amendment application to the Bureau of Land Management, Nevada State Office for the first-ever drill program to be conducted on the Lovelock Mine Project in the Cottonwood Canyon area of the Stillwater Range in Nevada. The Lovelock Mine Project is comprised of 81 unpatented lode claims totaling approximately 642 hectares (1586 acres) including the past producing high-grade cobalt-nickel Lovelock Mine.

Timothy Strong, Project Development Manager, said, “This is a dynamic and exciting time for the company. The announcement of the Company expanding its portfolio into Idaho and Quebec comes at a time when there is highlighted need for critical metals in North America. Whilst we look forward to working with our partners on these new projects, we are delighted to be actively progressing the Lovelock Mine Project in Nevada, and are excited to be initiating this maiden drill program on the property which we hope will provide us with important structural data and confirmation of the high grade mineralization historically recorded on the property.”

As previously reported in late 2020, an independent interpretation of the regional structure of the Lovelock property, specifically in the vicinity of the historical mining of high-grade cobalt and nickel that occurred at the Lovelock Mine suggest that the Lovelock Mine is located within a corridor of strong structural control with several subparallel structures indicating the potential for multiple mineralized zones related to these structures. Importantly, the geophysics study has identified high-priority drill targets that complement the exploration fieldwork previously conducted.

The data interpretation has allowed for a better understanding of the area, extending from previously mined orebodies to key undeveloped prospects and exploration targets, and greatly enhances 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.