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: [email protected]
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