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Global Energy Metals Announces Delivery of Substantial Resource Tonnage and Grade Increase at the Millennium Cobalt-Copper-Gold Project

Vancouver, BC / TheNewswire / March 21, 2023 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (Global Energy Metals, the Companyand/or GEMC), a company involved in the investment exposure to the battery metals supply chain, is pleased to provide a key update from its Millennium copper-cobalt-gold (Cu-Co-Au) project (Millenniumand/or the Project) located in Queensland, Australia.  Global Energy Metals holds a 49% carried interest in the Project.




Updated JORC 2012 Mineral Resource Estimate (MRE) of 8.4Mt @ 1.23% CuEq (0.09% Co, 0.29% Cu and 0.12g/t Au) including open cut (86%) and underground (14%) Resources

Represents 42% tonnage increase and 14% grade increase from 2016 MRE

Tonnage of mineralisation pre application of RPEEE1 has doubled with new significant Exploration Target

Bulk of the deposit is from surface, amenable to open cut mining and remains open at depth with high grade Co and Cu underground mining potential

Excellent metallurgy supports economic potential for future extraction

Next steps include additional metallurgical drilling and test work leading to scoping and subsequently pre-feasibility studies.


GEMC is pleased to announce that strategic partner, Metal Bank Ltd. (MBK), has released a JORC 2012 Mineral Resource Estimate (MRE) update for the Millennium Co-Cu-Au deposit located approximately 35km WNW of Cloncurry in North Queensland of 8.4Mt @ 0.09% Co, 0.29% Cu and 0.12g/t Au for a 1.23% CuEq.


The Millennium deposit represents a near-term critical minerals development opportunity, at surface on granted mining leases and proximal to existing mining infrastructure in a renowned exploration and mining region.


Forward Plan

The Millennium Project represents a key asset for MBK with forward work program for the next 12-24 months including:


Scoping and pre-feasibility studies to assess development potential and ESG;

Further metallurgical drilling to obtain sufficient bulk samples for advanced metallurgical work and flowsheet in conjunction with geotechnical studies, geometallurgical domaining and infill to increase confidence in the Mineral Resource;

Infill and extension drilling to test the Exploration Target with scope to incorporate into the Global Resource; and

Collaboration with other critical minerals projects and research in the region to optimise project value.