Drill Program Expanded At The Lovelock Mine Project

VANCOUVER - Global Energy Metals Corporation has applied to the Bureau of Land Management, Nevada State Office to expand its permitted drill program planned for the Lovelock Mine project to include the nearby Treasure Box project in Nevada. The currently planned 1,400 meter program (6 to 8 drill holes) at Lovelock has been expanded to approximately 2,100 meters (9-10 drill holes) to capitalize on having drill contractors onsite at Lovelock so that the company can test historically high-grade copper and cobalt mineralization at Treasure Box.

The Treasure Box project, consisting of 76 unpatented lode claims, is an exploration-stage copper, cobalt, nickel, gold exploration property in the Table Mountain Mining District, Churchill County, Nevada. The mineralization at Treasure Box is a classic example of an iron-oxide copper gold (IOCG) occurrence. Both Treasure Box and Lovelock lie within the widespread Humboldt Mafic Complex, which is a large gabbroic-basalt complex that was subsequently subjected to intense and widespread hydrothermal alteration. Primary IOCG mineralization is present at relatively shallow depths as shown by limited historical drilling.

Treasure Box hosts mine workings from limited copper production, which occurred until early into the 20th century. A historical diamond drill hole (circa 1910) drilled at the Treasure Box project by the Boyer-Nevada Copper Company reportedly intersected 1.52% copper over 85 feet (25.9 meters) with mineralization beginning at surface. A reverse circulation hole drilled on the Treasure Box project by Utah International in 1976 returned 1.55% copper over 40 feet (12.2 meters) from a depth of 85 to 125 feet (25.9 to 38.1 meters), and the hole was stopped in chalcopyrite mineralization. The core Treasure Box claims were held continuously for over 20 years by a private company but were relinquished in September 2017, leading to their acquisition by Nevada Sunrise and subsequently by Global Energy Metals in October 2020.