Waste Management(US:WM) Thenewswire·2025-11-28 13:00Core Viewpoint - Global Energy Metals Corporation is advancing its Millennium Copper Cobalt Gold Graphite Project through a diamond drilling program funded by the Queensland Government, which aims to enhance the project's mineral resource estimates and economic viability [1][4][10]. Project Development - Metal Bank Ltd. has commenced diamond drilling at the Millennium Project as part of a AUD $250k Collaborative Exploration Initiative (CEI) program [1][4]. - The drilling targets high-grade near-surface extensions of previously announced graphite results and bulk metallurgical samples within the JORC2012 Mineral Resource Estimate of 8.4 million tonnes at 0.09% cobalt, 0.29% copper, and 0.12g/t gold [3][4]. - An application for an additional mining lease covering 159 hectares has been submitted to facilitate further exploration and operations for cobalt, copper, gold, and graphite resources [3][4]. Economic Impact - The granting of the new mining lease, which includes the Gap Zone, could positively impact the project's economics and the potential for moving towards production [4][10]. - Previous drilling results from the Gap Zone indicated strong mineralization continuity, with notable downhole results such as 23m at 0.48% copper, 0.16% cobalt, and 0.16g/t gold [6][10]. Strategic Positioning - Millennium is strategically located near other significant mining projects in Queensland, enhancing its potential for resource development [10][11]. - The project is positioned to benefit from the growing demand for graphite, particularly in the electric vehicle lithium-ion battery sector, where graphite is a key raw material [16][17]. Future Plans - The company plans to assess the graphite potential further through additional surface mapping, sampling, and metallurgical testing [17]. - Results from the current drilling program are expected in late January, and the company will keep stakeholders informed about the mining lease application progress [10].