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back Global Cobalt Reports on Final Assay Results and Prepares for NI 43-101 Mineral Resource Report on Karakul Cobalt Project

April 9, 2014 | Category: Press Releases

GLOBAL COBALT REPORTS ON FINAL ASSAY RESULTS AND PREPARES FOR NI 43-101 MINERAL RESOURCE REPORT ON KARAKUL COBALT PROJECT

VANCOUVER, BC / 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

(m)

To

(m)

Length* (m)

Co

(%)

Cu

(%)

Bi

(%)

WO3

(%)

Ag

(g/t)

CoEq

(%)**









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

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