back Global Cobalt Delivers Highest Grade Assay Results from First Drilling Phase; Confirms Greater Widths of Mineralisation at Depth
January 20, 2014 | Category: Press Releases
VANCOUVER, BC (JANUARY 20TH, 2014)...GLOBAL COBALT CORP. (TSXV:GCO) ("Global Cobalt" and/or the "Company") (TSXV:GCO) is pleased to disclose extremely positive additional assay results from the Company's drilling program at the Karakul Cobalt Project ("Karakul" and/or the "Project") in the Altai Republic of Russia.
Highlights:
- Company drills highest grade intercept to date in Hole #199: 3.3m of 0.909% Cobalt (Co) 3.06% Copper (Cu), 0.378% Bismuth (Bi), 0.874% Tungsten (WO3) & 52.433g/t Silver (Ag).
- New intersections of previously unknown zones at depth appear to show strong grades and indicate the deposit remains open to depth
- Assay results show continuity of the mineralised zone, confirm the presence of mineralisation as predicted and are consistent with data from previous Soviet-era and Russian work programs
- Assays on further holes designed for infill and extension results to be released once the data is received and interpreted by the Company
Commenting on these Karakul results, Paul Sarjeant, VP Exploration, said:
"Assay results from the latest drilling supported visual characterisation of sulphide mineralization. The holes released show strong continuity between holes from both historic and the current program. Results to date support our interpretation that mineralised zones overall remain open and in some cases, show stronger width and grade values at depth. This is very positive and we are encouraged by the potential of the Karakul system."
The following table shows the new assay results for selected interval comparison.
|
Hole # |
From (m) |
To (m) |
Length* (m) |
Co (%) |
Cu (%) |
Bi (%) |
WO3 (%) |
Ag (g/t) |
|
197 |
36.9 |
38.3 |
1.4 |
0.002 |
0.16 |
0.000 |
0.264 |
4.200 |
|
59.9 |
62.8 |
2.9 |
0.101 |
0.385 |
0.040 |
0.031 |
4.972 |
|
|
198 |
46.6 |
50.7 |
4.1 |
0.314 |
0.197 |
0.175 |
0.007 |
4.888 |
|
150.5 |
151.1 |
0.6 |
0.045 |
1.313 |
0.003 |
0.000 |
12.800 |
|
|
156.7 |
160.4 |
3.7 |
0.277 |
0.599 |
0.242 |
0.051 |
10.459 |
|
|
199 |
88.8 |
92.8 |
4.0 |
0.138 |
0.040 |
0.008 |
0.000 |
0.125 |
|
101.1 |
102.1 |
1.0 |
0.119 |
0.009 |
0.005 |
0.000 |
0.000 |
|
|
|
221.2 |
224.5 |
3.3 |
0.909 |
3.060 |
0.378 |
0.874 |
52.433 |
|
200 |
95.2 |
100.6 |
5.4 |
0.275 |
0.113 |
0.066 |
0.000 |
1.059 |
|
|
111.1 |
113.0 |
1.9 |
0.080 |
1.320 |
0.089 |
0.000 |
10.421 |
|
|
142.0 |
148.6 |
6.6 |
0.097 |
0.080 |
0.003 |
0.025 |
2.089 |
|
including |
142.0 |
144.2 |
2.2 |
0.114 |
0.151 |
0.007 |
0.061 |
3.200 |
|
|
181.6 |
184.0 |
2.4 |
0.137 |
0.719 |
0.107 |
0.010 |
7.446 |
* 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 (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.
Holes #197, #198 and #199 were drilled on section 46.5 which is located at the northern extent of the underground working on the main Karakul mineralised zone and were tasked to validate known mineralisation as defined from historical drill results.
The first intercepts in Holes #198 (46.6m-50.7m) and #199 (88.8m-92.8m) correlate well with each other and appear to validate a previously defined mineralised zone from Soviet data. These results demonstrate excellent width and continuity and represent a 75m down dip extension of the mineralised zone. The zone remains open to depth.
The deepest intercepts from Holes #197 (59.9m-62.8m), #198 (156.7m-160.4m) and #199 (221.2m-224.5m) represents a well-defined zone of mineralisation that corresponds well with historic drilling results. Based on assay results, the zone shows good widths and strong grades across all potential economic metals. The deepest intercept in Hole #199 (221.2m-224.5m) is located approximately 200m below surface and has returned the highest cobalt, copper, bismuth, tungsten and silver grades from the current drilling program. The mineralizing system appears to remain open at depth.
Hole #200 was drilled on Section 46, approximately 50m south of Section 45.5, and was designed to confirm two mineralised zones as defined by historic drilling. The intersection at 95.2m-100.6m appears to validate the more shallow zone and the intercept at 181.6m-184.0m validates the deepest mineralised zone on the section. Both new intercepts represent a down dip extension of mineralisation of approximately 60m. The hole also identified a new, potentially significant zone (142.0m-148.6m) intermediate to the known zones. All zones remain open at depth.
The scientific and technical data contained in this news release was prepared under the supervision of Paul Sarjeant, P.Geo who acts as a "Qualified Person" under National Instrument 43-101.
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: [email protected]
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.
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