Global Cobalt Deploys Third Drill Rig to the Karakul Cobalt Project
VANCOUVER, BC (NOVEMBER 20th, 2013)...Global Cobalt Corp. (TSXV:GCO) ("Global Cobalt" and/or the "Company") (TSXV:GCO) is pleased to announce that a third core drill rig has been mobilized on the Karakul Cobalt Project ("Karakul" and/or the "Project") located in the Altai Republic, Russia. This will be the third drill rig on the Karakul property targeting drilling to intersect modeled zones of mineralization. The drill work being done on site will be used to define additional pierce points to further validate and increase confidence in the model and attempt to extend mineralization where possible.
"Global Cobalt is now drilling with 3 drill rigs in an effort to provide, as quickly as possible, resource definition drill assay information necessary for the next step of evaluation," said Paul Sarjeant, VP Exploration for Global Cobalt.
Core samples from the initial twinning phase along with historic core from previous work programs have been delivered to the Alex Stewart Laboratories ("ASL") in Moscow, Russia for assay analysis. In total 844 split core samples were sent to ASL in addition to 79 samples from the 2008 drill program sent for re-assay due to above detection limit results for certain metals. Results are pending and will be announced in a subsequent corporate news release.
As previously announced, the Company continues its 7,500 metre ("m") drill program at Karakul and to date has now completed 15 holes totaling 2,600m of drilling.
Hole 183 was completed to a planned depth of 213m to test the depth extension of the northern end of the main mineralised zone. Visual oxidised and primary sulphide mineralisation was intersected from 174-200m down hole, an intersection length of approximately 26m. This intercepts appears to validate a down dip extension of approximately 100m from mineralisation drilled in 2008 in drill hole KK095. That hole intersected 5.9m grading 0.256% Co, 0.046% Bi and 0.141% Cu.
Holes 184 and 185 where designed to test the western extremity of the mineralisation in the northern portion of the zone where previous surface work indicated a potential for mineralisation. The area was drilled with one hole in 2008 with limited results: hole 172 intersected a weakly anomalous copper mineralisation. Hole 184 was drilled 60m to the north of hole 172 and intersected several narrow zones of oxidised and sulphide mineralisation. Hole 185 was drilled 140m south of 172 and a 3m zone at approximately 54-57m down hole was intersected that would seem to correlate with previous surface trenching. A second sulphide zone was intersected from 202-205m potentially representing a new, more westerly zone.
Hole 195 was drilled approximately 140m north of 184 to trace the same surface showings as in 184 and connect to some high-grade holes that represent a modeled zone of mineralisation. The hole intersected a variable and intermixed zone of oxidised mineralisation and sediments from 21-35m down hole, confirming surface mineralisation. The zone appears open to the north.
Drill hole 196 again tested surface mineralisation toward the northern portion of the deposit and intersected approximately 3m of oxidised mineralisation at approximately 37m down hole.
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 Corp. 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: info@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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