VANCOUVER, BC (FEBRUARY 19th,
2014)...GLOBAL COBALT CORP. (TSXV:GCO) ("Global Cobalt"
and/or the
"Company") (TSXV:GCO)
reports the latest in a series of drill hole results
from its Winter 2013 drill program at the Karakul Cobalt Project
("Karakul") that continue to confirm historic drilling and have
opened a significant new opportunity to
further the development of the resource at depth with additional
drilling.
The 2013 drill
program results correlate very well with historic 2006 and
Soviet-era drilling and more importantly demonstrates the potential
for the deposit to extend historically known zones at depth. In
addition, the program results suggest a metallogenic zonation
within the deposit, whereby the Eastern Zone is more cobalt
dominant and the Western Zone has several zones of copper, bismuth,
tungsten and silver enrichment accompanying the cobalt
mineralisation potentially providing further opportunities in
enhancing the value of the deposit. Recognizing the opportunity to
better understand and further expand a resource at Karakul, the
Company will look to initiate a follow-up drill campaign to test
this exciting depth extension in the spring.
VP Exploration, Mr. Paul Sarjeant
commented,
"We
truly have only scratched the surface at Karakul. The system is
exposed over a strike length of over 2.5 kilometres, with the
deepest historic intercept to date intersecting good mineralisation
approximately 450 metres below surface in the Western Zone. Our
current program has in fact only tested portions of the Western
Zone to just over 200 metres in depth and the Eastern Zone to only
70 metres. The potential to grow the deposit remains very good and
we look forward to the next phase of our exploration
program."
Reported holes are
grouped into broad geographic areas of the project. Please
reference the drill map attached at the end of this news
release.
Eastern Zone -
South of Adit Area
-Holes 190, 191 and
219 were drilled on the Eastern Zone, south of the historic adit
entrance area on three separate sections that had not been
previously drilled.
-All drill holes
successfully traced surface mineralisation to depth (50m-70m below
surface).
-Assay results
indicate narrow but consistent mineralisation of all metal across
most intercepts consistent with historic drill results and
expectations for the Eastern Zone.
-Deepest intercept in
each hole overall returned best results and all mineralised zones
remain open at depth.
-------------------------------------------------------------
|Hole # |From |To |Length*|Co |Cu |Bi |WO3 |Ag |
| |(m) |(m) |(m) |(%) |(%) |(%) |(%) |(g/t)|
|-----------------------------------------------------------|
|190 |59.80|64.00|4.20 |0.073|0.603|0.043|0.087|0.810|
|-----------------------------------------------------------|
|including|62.00|64.00|2.00 |0.105|0.835|0.084|0.182|1.700|
|-----------------------------------------------------------|
|191 |56.90|58.00|1.10 |0.007|0.013|0.000|0.145|0.000|
|-----------------------------------------------------------|
| |65.90|66.90|1.00 |0.322|0.030|0.032|0.000|0.000|
|-----------------------------------------------------------|
| |74.40|75.80|1.40 |0.209|0.541|0.498|0.212|1.900|
|-----------------------------------------------------------|
|219 |81.30|83.10|1.80 |0.211|0.364|0.296|0.026|3.200|
-------------------------------------------------------------
Western Zone -
South of Adit Area
Holes 210 and 212 were targeted to
confirm mineralisation zones from historic drilling.
Hole 210
-Targeted known
mineralisation between historic drill holes KK074 and KK075 and
was drilled to validate previously identified
zones.
-The hole
successfully intersected mineralisation where predicted and at
grades comparable to historic results.
-Deepest intercept is
approximately 110m below surface.
Hole 212
-Targeted a 100m down
dip extension of mineralisation in historic drill hole
KK076.
-The intercept from
77.4m to 83.5m returned low grades across all metals but did not
correlate with any previous mineralisation.
-The intercept at
123.2m to 130.0m correlates with a down dip extension of historic
results and extends the zone approximately 100m.
-Assay results
indicate better results than historic mineralisation.
-The intercept at
156.0m to 158.3m correlates well with the primary target,
relatively weak mineralisation from the historic drill hole
(KK076). The intercept represents an approximate 100m down dip
extension and more importantly returned stronger assay results.
This final intercept is approximately 150m below
surface.
-All intercepts in
212 remain open at depth.
----------------------------------------------------------------
|Hole # |From |To |Length*|Co |Cu |Bi |WO3 |Ag |
| |(m) |(m) |(m) |(%) |(%) |(%) |(%) |(g/t) |
|--------------------------------------------------------------|
|210 |130.10|136.40|6.30 |0.049|0.063|0.037|0.000|0.787 |
|--------------------------------------------------------------|
|including|130.10|133.60|3.50 |0.069|0.095|0.033|0.000|0.731 |
|--------------------------------------------------------------|
|including|135.60|136.40|0.80 |0.071|0.071|0.131|0.000|2.100 |
|--------------------------------------------------------------|
| |142.40|143.60|1.20 |0.016|0.179|0.012|0.013|0.700 |
|--------------------------------------------------------------|
|212 |77.40 |83.50 |6.10 |0.004|0.165|0.101|0.063|3.615 |
|--------------------------------------------------------------|
| |123.20|130.00|6.80 |0.159|0.153|0.036|0.000|1.088 |
|--------------------------------------------------------------|
|including|126.10|130.00|3.90 |0.224|0.128|0.045|0.000|1.782 |
|--------------------------------------------------------------|
| |156.00|158.30|2.30 |0.038|1.717|0.063|0.002|11.578|
----------------------------------------------------------------
Western Zone - Adit Entrance Area
Holes 201 and 202
were drilled in the central portion of the Western Zone just north
of the adit, and were targeted to confirm known zones of
mineralisation as defined by historic drilling.
Hole 201
-Designed to confirm
previously identified mineralisation on Section 44 between historic
holes KK069 and KK070.
-Intersected three
separate zones of mineralisation that correlate well with a number
of narrow, lower grade zones in KK070.
-The deepest
intercept at 88.4m to 94.0m correlates well with the primary
mineralised zone on the section and returned results comparable to
those in KK069 (upper hole) and much stronger than historic results
in KK070 (lower most hole).
-Assay results were
successful in defining mineralization per historical
interpretation.
Hole 202
-Designed to test at
depth the extension of mineralisation from historic drill holes
KK011 and KK014
-The lower most
intercept at 226.7m to 234.1m confirms the mineralised system
extends an additional 75m down dip (210m below surface).
-Based on the
historic grade in KK011 (7.2m @ 0.224 Co%, 0.059% Cu, 0.23% Bi,
0.005% WO3 and 0.958
ppm Ag) the zone appears to be maintaining width and grades
continue to be strong.
-The zone remains
open at depth.
----------------------------------------------------------------
|Hole # |From |To |Length*|Co |Cu |Bi |WO3 |Ag |
| |(m) |(m) |(m) |(%) |(%) |(%) |(%) |(g/t) |
|--------------------------------------------------------------|
|201 |6.10 |8.50 |2.40 |0.001|0.056|0.094|0.000|2.330 |
|--------------------------------------------------------------|
| |47.90 |50.00 |2.10 |0.072|0.052|0.045|0.000|0.300 |
|--------------------------------------------------------------|
| |54.60 |59.00 |4.40 |0.059|0.043|0.079|0.000|1.375 |
|--------------------------------------------------------------|
|including|55.70 |59.00 |3.30 |0.071|0.037|0.090|0.000|1.200 |
|--------------------------------------------------------------|
| |88.40 |94.00 |5.60 |0.088|0.546|0.082|0.060|5.146 |
|--------------------------------------------------------------|
|including|88.40 |90.50 |2.10 |0.193|1.351|0.182|0.154|12.314|
|--------------------------------------------------------------|
|202 |214.60|215.20|0.60 |0.087|0.046|0.015|0.000|0.600 |
|--------------------------------------------------------------|
| |226.70|234.10|7.40 |0.200|0.466|0.098|0.028|2.081 |
----------------------------------------------------------------
Global Cobalt
Corporation:
Global Cobalt
Corporation is a Canada-based strategic metals company focused on
the development of a new mining region in the Republic of Altai.
Global Cobalt will build upon the success
of the Altai Projects while aggressively
expanding and exploring existing properties to meet the demand for
cobalt and other strategic metals.
For Further
Information:
Mr. Mitchell Smith, Corporate
Development
Suite 1510-1050 West Pender
Street
Vancouver, BC V6E 3T4
Tel: +1 (604) 688-4219
Fax: +1 (604) 688-4215
Email:
info@globalcobaltcorp.com
www.GlobalCobaltCorp.com
TSXV:GCO; FRA:3P0;
CUSIP:37890F
Cautionary
Statement on Forward-Looking Information: The statements made in
this News Release may contain certain forward-looking statements.
Actual events or results may differ from the Company's
expectations. Certain risk factors may also affect the actual
results achieved by the Company.
This news release
shall not constitute an offer to sell or the solicitation of any
offer to buy, nor shall there be any sale of these securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful. The shares offered will not be and have not been
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") and may not be offered or sold
in the United States absent registration or an applicable exemption
from the registration requirements of the U.S. Securities Act and
applicable state securities laws.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Figure 1.
Karakul Polymetallic Project -
Simplified Geology and Drill Hole Location
Click Image To View Full Size