VANCOUVER, BC / ACCESSWIRE / APRIL 9th, 2014 / GLOBAL COBALT
CORP. (TSXV:GCO) ("Global Cobalt" and/or the "Company") (TSXV:GCO)
is pleased to release the final drill results from the Winter 2013
work program at the Karakul Project in the Altai region of
Russia.
Drill Hole Highlights:
-Drilling in Eastern Zone represents over 900m of strike extent
of mineralisation with limited drilling and is considered a prime
target for additional drilling
-Additional high priority drill targets exist at depth and will
be further explored with a new drill program to commence in late
Spring 2014
-Reporting of final assay results enables the Company to
finalize work to report on updated NI 43-101 compliant resource
report for the Karakul Cobalt Project.
Commenting on the Eastern Zone results, Paul Sarjeant, P.Geo.,
Vice President Exploration said:
"The Eastern Zone represents a key target for future resource
expansion drilling and continues with the trend of the balance of
results that the deposit remains open at depth. This is an exciting
time for the Company having achieved another key milestone by
reporting on the final set of assay results from the 2013 work
program. This now allows us to prepare the resource update, which
we anticipate to be completed by mid-May."
Global Cobalt's Chief Operating Officer, Dr. Michael Hitch,
PhD., P.Geo., P.Eng., also commented on the overall results of the
Winter 2013 work program:
"The resource drill program achieved its objective to better
define the full extent of mineralization in both the Western Zone
and Extension targets. We are now preparing the NI 43-101 mineral
resource estimate for the Karakul Cobalt project incorporating the
drilling data from this and past programs undertaken by previous
owners." Hitch further commented: "Work on a Preliminary Economic
Assessment (PEA) will also begin and will accelerate once the
resource update is complete."
The Company has depicted the locations of the drill holes shown
in Figure 1 and continues with its practice of presenting a
technical narrative for each set of hole results are as
follows:
Eastern Zone - Adit Area, North
Drill holes 187,188,189 and 217 were drilled on the Eastern Zone
from the adit area north attempting to trace the Eastern Zone
mineralization in an area of limited and wide spaced drilling.
---------------------------------------------------------------------
|Hole # |From |To |Length*|Co |Cu |Bi |WO3 |Ag |CoEq |
| |(m) |(m) |(m) |(%) |(%) |(%) |(%) |(g/t)|(%)**|
|-------------------------------------------------------------------|
|188 |110.40|111.60|1.20 |0.109|0.037|0.098|0.000|3.300|0.196|
|-------------------------------------------------------------------|
| |147.60|148.00|0.40 |0.215|0.043|0.105|0.000|7.800|0.318|
|-------------------------------------------------------------------|
| |155.00|157.80|2.80 |0.125|0.031|0.126|0.000|1.725|0.228|
|-------------------------------------------------------------------|
|189 |93.10 |95.40 |2.30 |0.124|0.001|0.001|0.000|0.000|0.125|
|-------------------------------------------------------------------|
| |141.00|142.30|1.30 |0.014|0.052|0.139|0.000|3.400|0.135|
|-------------------------------------------------------------------|
|188 |110.40|111.60|1.20 |0.109|0.037|0.098|0.000|3.300|0.196|
|-------------------------------------------------------------------|
| |147.60|148.00|0.40 |0.215|0.043|0.105|0.000|7.800|0.318|
|-------------------------------------------------------------------|
| |155.00|157.80|2.80 |0.125|0.031|0.126|0.000|1.725|0.228|
|-------------------------------------------------------------------|
|189 |93.10 |95.40 |2.30 |0.124|0.001|0.001|0.000|0.000|0.125|
|-------------------------------------------------------------------|
| |141.00|142.30|1.30 |0.014|0.052|0.139|0.000|3.400|0.135|
|-------------------------------------------------------------------|
|217 |67.10 |72.10 |5.00 |0.044|0.045|0.008|0.000|0.902|0.063|
|-------------------------------------------------------------------|
|Including|67.10 |68.60 |1.50 |0.117|0.039|0.001|0.000|0.000|0.127|
|-------------------------------------------------------------------|
| |90.30 |96.10 |5.80 |0.087|0.049|0.024|0.000|0.379|0.117|
|-------------------------------------------------------------------|
|Including|93.90 |96.10 |2.20 |0.141|0.079|0.054|0.000|0.600|0.201|
|-------------------------------------------------------------------|
| |104.10|109.70|5.60 |0.024|0.113|0.023|0.012|0.782|0.085|
|-------------------------------------------------------------------|
|Including|104.10|106.40|2.30 |0.050|0.080|0.055|0.000|0.470|0.110|
|-------------------------------------------------------------------|
|187 |NO SIGNIFICANT RESULTS | |
---------------------------------------------------------------------
Eastern Zone - Adit Area, South
Drill holes 192, 211 and 218 were drilled to trace and extend
mineralization in the southern region of the Eastern Zone that had
only seen limited historical drilling. These three drill holes
represent the most southern holes from the Winter 2013 drill
program.
---------------------------------------------------------------------
|Hole # |From |To |Length*|Co |Cu |Bi |WO3 |Ag |CoEq |
| |(m) |(m) |(m) |(%) |(%) |(%) |(%) |(g/t)|(%)**|
|-------------------------------------------------------------------|
|192 |20.90 |28.00 |7.10 |0.001|0.133|0.004|0.037|2.976|0.089|
|-------------------------------------------------------------------|
|Including|26.50 |28.00 |1.50 |0.001|0.164|0.000|0.087|5.500|0.159|
|-------------------------------------------------------------------|
|211 |98.90 |111.30|12.40 |0.041|0.518|0.010|0.160|3.687|0.378|
|-------------------------------------------------------------------|
|Including|98.90 |102.30|4.30 |0.021|0.632|0.004|0.051|3.118|0.246|
|-------------------------------------------------------------------|
|And |108.50|111.30|2.80 |0.108|1.065|0.028|0.634|4.318|1.176|
|-------------------------------------------------------------------|
|218 |89.30 |93.90 |4.60 |0.167|1.116|0.035|0.224|3.141|0.744|
---------------------------------------------------------------------
-All drill holes returned cobalt, copper, bismuth, tungsten and
silver mineralization and help to define and extend the Eastern
Zone through the southern portion of the project area.
-Based on these results and drill holes 189, 217 and 219
(previously reported) represent over 900m of strike extent of
mineralisation with limited drilling.
-Mineralisation is open at depth on all sections and
intersections are all within approximately 125 m of surface.
-Represents a prime target for additional exploration
drilling.
Sample Preparation and Analysis
All drill core was logged, photographed and cut in half with a
diamond saw. Half of the core was bagged, numbered and sent to
Stewart Geochemical and Assay (a subsidiary of ALS Global) of
Moscow, Russia. All samples were first analysed using ICP-MA
technique that reports cobalt, copper, bismuth and tungsten in
parts per million (10,000 ppm = 1%). Any samples reporting greater
than 2,000 ppm cobalt or bismuth and any samples reporting greater
10,000 ppm copper were then assayed by ICP-ORE methodology. Samples
reporting greater than 2,000 ppm tungsten were then assayed using
the ME-MS61 method and reported as WO3. The results were verified
by the application of industry standard quality control and quality
assurance (QA-QC) procedures including laboratory internal
duplicate sampling.
* Note: Lengths quoted represent core lengths and do not
necessarily represent the true thickness of mineralised intervals.
Samples were analysed by Stewart Geochemical and Assay
** Note: Cobalt equivalent (CoEq%) values are given for
illustration to express the aggregate content of cobalt, copper,
bismuth, tungsten and silver as a percent cobalt. This is
calculated assuming 100% metal recovery using metal prices of
US$13.60/lb cobalt US$3.26/lb copper, US$9.89/lb bismuth,
$US16.73/lb tungsten and US$20 per troy ounce silver. The cobalt
equivalent calculation is as follows; CoEq = Co grade + (Cu% x
0.24) + (Bi% x 0.73) + (WO3% x 1.23) + (Ag g/t x 0.002)
Mr. Paul Sarjeant, P.Geo., VP Exploration, is the "Qualified
Person" under NI 43-101 and has reviewed the technical information
contained in this news release.
The Company would also like to correct a previous release issued
on April 2nd, 2014 stating that it listed on the OTC Bulletin
Board. It should state that it has listed on the OTC Markets under
the symbol GLBCF.
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; OTCBB:GLBCF, 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