Option to earn 70%
Marquee has an option to earn up to a 70% interest in Werner Lake, which is in the Kenora Mining District of northwest Ontario and abuts First Cobalt Corporation’s (ASX:FCC) assets.
The joint venture is planning an aggressive exploration schedule at the project, which will include a phase I, 3,500-metre diamond drilling program.
An agreement has been signed with a drilling contractor for the program.
The Werner Lake resource is open in all directions.
Updated technical report
Global Energy Metals Corp has filed an updated Canadian NI 43-101 technical report for the project.
It incorporates non-material changes to the resource estimate requested by the British Columbia Securities Commission as part of a routine review.
The updated report supersedes the original report dated September 6, 2017.
Existing mineralisation occurs in stacked lenses that tend to occupy tensional areas intruded by gabbroic pegmatites to produce skarnoid assemblages.
They occur over a distance of about 10 kilometres, extending from the Eastern Shallows Cobalt Deposit on the east side of Gordon Lake to the West Cobalt Deposit 500 metres west of the Werner Lake Old Mine Deposit.
Marquee recently appointed Toby Hughes to the position of chief geologist of North American operations.
He has more than 35 years’ resources experience working across multiple continents and commodities, and will lead the exploration program at Werner Lake
His cumulative cobalt experience includes several years as project manager at Werner Lake plus exploration within the Ontario Cobalt Mining Camp.