VANCOUVER, BC / ACCESSWIRE / May 15th, 2014 / GLOBAL COBALT CORP. (TSXV:GCO, OTCBB:GLBCF) ("Global Cobalt" and/or the "Company") is pleased to announce the successful completion of its Karakul Cobalt Project Site Visit that took place on May 9th thru 14th in the Altai Republic and Moscow, Russia.
The site visit was conducted in order to facilitate the completion of a project assessment on the Karakul Cobalt Project by China based Beijing General Research of Mining & Metallurgy ('BGRIMM"). Global Cobalt representatives including VP Exploration, Mr. Paul Sarjeant, accompanied the five delegates from BGRIMM on a three day Karakul site visit followed with two days of strategic meetings with government representatives in the Altai capital of Gorno Altaysk and technical discussions in Moscow with Wardell Armstrong International ("WAI") to better understand geological models and project economics. During the site visit a full ground assessment of the project area was completed including options for access, transportation, power, water supply and for site facility placement.
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BGRIMM & Global Cobalt representatives on site at the Karakul Cobalt Project
Paul Sarjeant, VP Exploration, stated:
"We are extremely pleased with the successful completion of the site visit and positive feedback and remarks received from BGRIMM." He continued, "We have a clear path for Karakul for the next 12-18 months and as a result of the trip by BGRIMM are moving forward with the fast track to market the development of the Karakul Cobalt Project in China through our strategic business alliance with BGRIMM."
The critical advancement of the Karakul project during this exploration/development phase will continue with a second drilling campaign in the next few months, completion of the updated NI 43-101 compliant resource estimate by WAI, as well as an economic review of the project expected in Q4-2014.
In addition, the Company would also like to report that representatives of Global Cobalt will be in attendance and presenting at the annual Cobalt Conference hosted by the Cobalt Development Institute (the "CDI") in Brussels, Belgium May 21st and 22nd. The Cobalt Conference is designed for industry professionals to meet to discuss a variety of issues including a detailed cobalt market review, supply and demand trends, political scenarios such as cobalt concentrate export bans and imposed tax hikes in the DRC, and industrial applications and developments.
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; 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.