Global Energy Metals Corp (TSX-V:GEMC) has issued a review of the multiple exploration programs carried out in 2022 at its Lovelock and Treasure Box projects and laid out plans to build on positive results.
"We continue to be impressed by the results and progress at both the Lovelock and Treasure Box projects,” CEO Mitchell Smith said in a statement. “From the series of exploration programs and interpretive studies conducted in 2022 we are confident in the foundation that has been set and with recommendations made, look forward to realizing the potential of these exciting copper, nickel cobalt projects in mining friendly Nevada."
The Lovelock project is a past-producing high-grade cobalt, copper, nickel project consisting of 81 unpatented lode claims totaling approximately 1,586 acres that had not undergone exploration using modern techniques until GEMC initiated activities in 2019.
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In the first-ever drill program at Lovelock, elevated values of cobalt, nickel and copper were intercepted in three of the holes which targeted possible mineralization beneath historical mine workings.
The results of initial field work at the Lovelock Property are encouraging and additional exploration is recommended, the company said. The next phase of work is expected to include detailed geologic and structural mapping over the property’s extent, a systematic rock and soil sampling program across more focused target areas delineated during this program, and results derived during geologic and structural mapping.
Although fieldwork produced some strong results, a large part of the property remains to be prospected. Therefore, future fieldwork should include detailed geologic mapping and accurate structural measurements of this proposed structure, with further sampling focused along the strike length of the faulting in that area, the company said.
Elsewhere, the company’s Treasure Box project hosts mine workings from limited copper production. A historical diamond drill hole drilled by the Boyer-Nevada Copper Company (circa 1910) reportedly intersected 1.52% copper over 85 feet (25.9 metres) with mineralization beginning at surface.
A sampling program at Treasure Box included copper assays up to 36.4% copper, 176 grams per ton of silver and 1.325 g/t gold.
Based on those results, the next phase of exploration work should include detailed geologic and structural mapping over the property’s extent, and systematic rock and soil sampling program across more focused target areas delineated during this program and results derived during geologic and structural mapping, the company said.
Structures in the area appear to have general northwest-southeast to north-south trends, which have locally influenced several historical copper-silver-gold mineralized showings. Future work should continue to delineate the extent of mineralization along the unconformity between the Jurassic mafics and Tertiary rhyolite units, the company said, and zones with notable oxidation and strong alteration should be carefully mapped with their ore-fluid-containing structures identified. Sampling along the strike length of these structures throughout the property would be the final phase of field exploration.
The full 2022 review and recommendation report can be found here.
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