(via TheNewswire)
Highlights:
Located in proximity to the rim of the
Athabasca Basin (“Basin”),Saskatchewan , a premium mining district and leading global source of high-grade uranium.High grade uranium samples of up to 6.22% at Charlot-Neely and up to 1.44% at
Fontaine-Lake along with anomalous rare earth samples.Historical work at the projects has demonstrated evidence of uranium mineralization along favourable structural trends.
Future exploration requires the undertaking of a modern systematic geologic evaluation to determine the resource potential.
TheProjectsinclude mineral claims totaling over 59,000 hectares located along the margin of the
“In a world transitioning towards cleaner and greener energy solutions, one element takes center stage: uranium. This is a right time, right jurisdiction, right commodity scenario that aligns
Taking a non-operating interest option and royalty on a highly prospective portfolio of Canadian uranium assets fits well with Global Energy Metals’ ongoing strategy of providing our investors investment exposure to new energy metals critical to an electrified future.
Working with Fulcrum, Global Energy will further evaluate options for the projects including the securing of a strategic operational partner to apply their technical and jurisdictional expertise to advance these North American uranium projects at a such a critical time in the nuclear power sector.
We look forward to this collaboration with Fulcrum and are encouraged by the addition of a new commodity to Global Energy’s existing project, equity and royalty portfolio.”
“The option of Fulcrum’s uranium portfolio by Global Energy provides positive leverage to all shareholders. Through the monetization of these uranium assets it provides immediate exposure to GEMC’s very active and exciting battery mineral, equity and royalty portfolio.
We are keen to work with GEMC to further delineate value for these projects at a time when demand for the commodity has been picking up globally as countries focus on transitioning to cleaner sources of energy.”
KEY TERMS OF ACQUISITION
On closing of the transaction, Global will acquire the NSR and a two year option (the “Option”) to acquire 19.9% of the Owned Projects and a 19.9% interest in the option agreement pertaining to the Optioned Projects (the “Option Agreement”). In consideration for the NSR and the two year option, GEMC will issue, subject to Exchange approval, five million shares at a deemed price of CAD
The transaction contemplated above is a “Non-Arms’ Length” transaction in accordance with applicable securities legislation, as
The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
PROJECTS OVERVIEWS
The project portfolio totals over 59k hectares targeting major structures along strike from historic Uranium mines and projects that have attracted significant investment. Discoveries such as the Arrow discovery (4.3m tonnes at 0.83% U308 https://www.nexgenenergy.ca/exploration/overview/) and
Click Image To View Full Size
Charlot-Neely
Totalling 16,372 hectares located in Northern region of the
Athabasca Basin along the Black Bay Fault.Covers 20km of the major
Black Bay fault structure which is associated within 10km of 14 historic Uranium mines of the establishedBeaverlodge District includes over 16km of historical EM conductors.Several historical uranium showings with grab samples up to 6.22% and trenching samples up to 0.15%.
The Property contains vein-hosted uranium mineralisation characteristics of the
Beaverlodge area with potential for unconformity-style mineralisation at depth - unconformity deposits are known to be larger and contain higher uranium grades.Extensive radioactivity throughout the property including new radioactive hotspots identified in 2023 located along and near structural lineaments is attributed to shear-hosted and vein-type uranium mineralisation.
The presence of off-scale radiation (>65,535 counts per second “cps”), yellow, U-oxide-stained fractures with sub-one percent uranium, and strong hematite alteration is considered typical of structurally-controlled uranium mineralisation.
Sampling in 2023 returned numerous anomalous uranium samples including over 5,510ppm U and scintillometer measurements of >65,535 cps at the historical Peacock showing.
Sampling exhibits strong hematite alteration along fracture planes and contain alteration overprinting the original rock enriching the sample in finely disseminated uranium - visible yellow uranium oxides are present.
The radioactive zone is spatially associated with a large quartz vein and paragneiss/altered pegmatite veining.
Evidence of strong deformation, proximity to a major fault (Long
Lake Fault ), and strong alteration signatures make this a target location for hydrothermal, vein-type uranium mineralisation.Additional recommended work includes prospecting, EM and Magnetic geophysical surveys, geochemical surveys and geological mapping of key showings to advance the project to drill ready stage.
Click Image To View Full Size
Covers 5,987 hectares located in the
Grease River area, northeast ofLake Athabasca .Several historical uranium sowings of up to 1.44% uranium along with rare earth samples of up to 4,732ppm TREE, 6,940ppm Nb and 1,170ppm Ta
2023 sampling returned scintillometer readings up to 53,000 cps and 7,130ppm U by laboratory assay.
The Property contains known vein-hosted uranium mineralization in addition to anomalously radioactive granites (Alaskite-type) generally characteristic of low-grade high-tonnage deposits, comparable to the geological setting of the Rossing deposit in
Namibia .Given the large volume of the radioactive granites on and near the property, these rocks are candidates to explain the strongly elevated uranium values observed in the regional lake sediment sample data.
Further work recommendations include prospecting to follow up on unexplored radiometric highs to confirm sources of radioactivity which may be masked by radioactive granites; gridded outcrop sampling over strongly radioactive zones inthe granite to determine the potential for Alaskite-type mineralization on the Property; and soil or radon geochemical surveys to help delineate prospective structures related to high grade, vein type mineralisation.
Click Image To View Full Size
Snowbird
The project covers 32,836 hectares of the largely underexplored
Cora Lake and LegsLake Shear zones between major NE and SW Snowbird faults and the BlackLake Fault ,Northern Saskatchewan .The
Black Lake structure can be traced for at least 200km across the entireAthabasca Basin and is associated with the Centennial deposit.The project is on trend with the
Historic Nisto Uranium Mine and notable projectsFir Island held by Forum Energy,Cree Bay held by F3 Uranium, projects held by Kobald Metals, theBlack Lake project held by UEC and recent staking byDennison Mines .Mining first occurred at the
Nisto Uranium Mine in 1950-51. In 1959, Haymac Mines restarted mining and shipped 500 tons of high-graded ore to theLorado Mill atUranium City, SK . One shipment of 106 tons of ore graded 1.6% U3O8 (Source: Saskatchewan Mineral Deposits Index, Mineral Property #1621).Limited historic airborne surveys include Uranium airborne anomalies that have not been followed up on.
Limited Lake sediment surveys identified a number of highly prospective REE targets and limited rock sampling identified the Bompas lake uranium occurrence suggesting a significantly wide zone of anomalous mineralisation for which the source of the anomalies had not been identified.
Click Image To View Full Size
The project covers 4,115 hectares of the Needles Fall shear Zone, south of the
Athabasca basinUnder-explored area that is sparsely mapped.
Covers 20km of major faulting.
Several airborne Uranium squared anomalies are within the property that are yet to be followed up on.
Radioactive boulders of up to 7.17% U308 to the North.
In an area that is seeing substantial investment and development.
FULCRUM METALS PLC
Fulcrum Metals PLC (LON: FMET) is an AIM quoted exploration company which finances and manages exploration projects focused on
Fulcrum currently holds a beneficial 100% interest in highly prospective gold and base metals projects in
Fulcrum’s strategy is to focus on discovery and commercialisation of its Projects through targeted exploration programmes. The primary focus is to make an economic discovery on the flagship
The Schreiber –
The Tully property, 458 hectares in area, is located 30 kilometres northeast of
While highly prospective, Fulcrum’s mining assets are in the exploration phase, so Fulcrum stands to be able to add significantly to the inherent value through exploration success. Fulcrum will continually review opportunities with potential and with a view to increasing shareholder value. It is the Board’s intention to deliver medium and long-term growth and to establish the Group as a significant exploration company.
Qualified Person
Click Image To View Full Size
Mr.
For Further Information:
#1501-128 West
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twitter:@EnergyMetals|@USBatteryMetals|@ElementMinerals
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
As demonstrated with the Company’s current copper, nickel and cobalt projects in
Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity.
Cautionary Statement on Forward-Looking Information:
Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although
GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.
Neither
We seek safe harbour.
Copyright (c) 2024 TheNewswire - All rights reserved.
Copyright (c) 2024 TheNewswire - All rights reserved., source