VANCOUVER, BC / ACCESSWIRE / APRIL 24th, 2014 / GLOBAL COBALT CORP. (TSXV:GCO, OTCBB:GLBCF) ("Global Cobalt" and/or the "Company") is pleased to announce that Wardell Armstrong International ("WAI") has been commissioned to complete a National Instrument 43-101 resource report on the Karakul Cobalt Project.
The Company completed a 45-hole 7,398 metre drill campaign on the flagship Karakul Cobalt Project, located in the Altai Republic, Russia in late December, 2013. The program was designed primarily to increase the level of confidence in the historical data through infill and confirmation drilling with the final assay results released earlier this month. Results from this program along with historical non NI 43-101 compliant Russian data will be used to support the preparation of an independent NI 43-101 initial resource estimate for the Karakul Cobalt Project. The highly regarded international engineering, environmental and mining consultancy firm Wardell Armstrong International has been engaged to generate this report and results will be published upon its completion, expected in Q2, 2014.
Dr. Michael Hitch, Chief Operating Officer commented:
"The completion of a resource report is the next important milestone in the development of the Karakul Cobalt project bringing together a large amount of new technical data with significant historical work." Dr. Hitch continues, "We have been highly impressed by Wardell Armstrong's technical and geological capabilities and believe their credentials should prove instrumental in assisting the Company taking the project to this next stage."
WAI has provided the mineral industry with specialized geological, mining, processing and environmental expertise since 1987, initially as an independent company, but from 1999 as part of the Wardell Armstrong Group.
Their parent company is a mining engineering/environmental consultancy that services the industrial minerals sector from nine regional offices in the UK and international offices in Russia and Kazakhstan. Total worldwide staff complement is now in excess of 300.
The Group provides a wide range of services for minerals-related projects ranging from preliminary exploration planning, through reserve estimation, mine design and financial appraisal, to bankable feasibility study.
Mr. Paul Sarjeant P.Geo., the Company's VP Exploration, is the Company's Qualified Person for the purposes of National Instrument 43-101 and has reviewed and approved the technical contents of this release.
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; 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.
SOURCE: Global Cobalt Corp.