In January, Global Energy Metals publicized how it had signed an agreement with Nevada Sunrise Gold Corp to acquire an 85% interest in the famous Lovelock cobalt mine and the Treasure Box project, located in Churchill County, Nevada. Both the Lovelock cobalt mine and the Treasure Box project house battery mineral, such as nickel, copper, cobalt, etc. Conveniently, both of them are also situated only a 90-minute drive away from Tesla-Panasonic Gigafactory 1. Situated near Reno, Tesla-Panasonic Gigafactory 1 is a lithium-ion battery and electric vehicle subassembly factory owned and operated by Tesla.
Global Energy Metals has wagered 18 claims after that. 11 of these claims link the 70 already-established Lovelock cobalt mine project claims in Churchill County.
According to the firm’s chief executive officer, Mitchell Smith, both the projects are perfect instances of the prospective United States-based battery metal projects which have ideal locations.
He said: “The acquisition of the Nevada cobalt projects is another significant milestone for GEMC. This transaction exposes the company and its shareholders to a wealth of exploration opportunities in another top-tier mining district with proven mineral endowment. GEMC believes that the sizeable property package it has locked up in the heart of a very prolific and proven district, hosts the potential for significant cobalt exploration upside.”
Lovelock has yet to be drilled and hasn’t been in production since the 1880s. Global Energy Metals only recently started looking for copper, cobalt and nickel under the historic Lovelock.
Mitchell Smith added how the firm was thrilled to be the first ones on a ground which has remained untouched for a century now, and that they are looking forward to the opportunity that awaits them.
The firm has also agreed to a strategic technology initiative together with Canada Cobalt Works so as to check their Re-2OX procedure on minerals from Treasure Box and Lovelock.