Global Cobalt Reports New Assay Results - Confirms Strike and Depth Extensions to the Mineralisation at Karakul
23 Enero 2014 - 8:00AM
Access Wire
VANCOUVER, BC (JANUARY 23rd,
2014)...GLOBAL COBALT CORP. (TSXV:GCO) ("Global Cobalt"
and/or the
"Company") (TSXV:GCO)
is very pleased to disclose additional assay results
which identified strike and depth extensions to the deposit,
further confirmed the validity of the Karakul Cobalt Project
("Karakul" and/or the "Project"), and move the Company closer to
the completion of the NI 43-101 compliant resource.
Highlights:
-
- Results continue to confirm historic drill
results.
- New assay results demonstrate continuity of the system along the
western edge of the Karakul deposit
- Drilling confirms presence of expected mineralisation
with good correlation at depth and along
strike
- Additional assay results on further holes designed for infill
and extension to be released as data is received and interpreted by
the Company
Commenting on the
Karakul results, Erin Chutter, President and CEO, said:
"We are delighted to
announce additional results from the drilling campaign at the
Karakul Cobalt Project. These results continue to confirm the
strength and width of the zones and further demonstrate strike and
depth extensions of mineralisation at Karakul. We are excited to
leverage off these very encouraging results for continued
development of Karakul."
The
following table shows the new assay results for selected interval
comparison.
-------------------------------------------------------------------
|Hole # |From |To |Length* (m)|Co |Cu |Bi |WO 3 |Ag |
| |(m) |(m) | |(%) |(%) |(%) | (%)|(g/t) |
|-----------------------------------------------------------------|
|177 |99.1 |115.6|16.5 |0.171|0.072|0.095|0.000|0.421 |
|-----------------------------------------------------------------|
|including|99.1 |101.0|1.9 |0.205|0.091|0.155|0.000|6.242 |
|-----------------------------------------------------------------|
|including|103.0 |104.8|1.8 |0.067|0.103|0.035|0.000|2.850 |
|-----------------------------------------------------------------|
|including|107.0 |115.6|8.6 |0.258|0.083|0.133|0.000|5.584 |
|-----------------------------------------------------------------|
|183 |174.2 |175.4|1.2 |0.175|0.044|0.005|0.000|12.600|
|-----------------------------------------------------------------|
| |181.0 |183.9|2.9 |0.143|0.037|0.027|0.000|5.000 |
|-----------------------------------------------------------------|
|including|181.0 |181.8|0.8 |0.431|0.094|0.088|0.000|15.100|
|-----------------------------------------------------------------|
|including|183.4 |183.9|0.5 |0.089|0.047|0.008|0.000|2.800 |
|-----------------------------------------------------------------|
|184 |No Significant Results |
|-----------------------------------------------------------------|
|185 |54.4 |55.6 |1.2 |0.030|0.082|0.092|0.019|11.000|
|-----------------------------------------------------------------|
|186 |129.1 |131.1|2.0 |0.529|0.434|0.232|0.140|5.745 |
|-----------------------------------------------------------------|
|195 |20.7 |22.2 |1.5 |0.013|0.108|0.040|0.041|9.400 |
|-----------------------------------------------------------------|
| |27.3 |27.6 |0.3 |0.111|0.013|0.001|0.129|1.100 |
|-----------------------------------------------------------------|
|196 |37.2 |40.3 |3.1 |0.067|0.030|0.007|0.000|2.500 |
-------------------------------------------------------------------
*
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.
Twinning Confirmation Hole Update:
Drill Hole #177 was a
vertical hole designed to twin Soviet era hole KK030. A significant
zone of mineralisation was intercepted from 99.1m-115.6m down hole.
The intercept compares favourably with
historic results though the width of the intersection was greater
than reported in the Soviet era data. A second zone of elevated
cobalt (Co), copper (Cu) and silver (Ag) was intersected from
170.6m-178.4m and appears to correspond with a second zone of
mineralisation identified in KK030.
Karakul North Adit Area:
Hole #186 was drilled
to test mineralisation along the western edge of the zone in an
area that has seen limited historical work. The hole was collared
approximately 230m north of the section line with holes #197, #198
and #199 (previously reported on January 20th, 2014) and 100m southeast of hole #178
(previously reported on December 12th, 2013).
The drill hole
intercepted strong cobalt, copper, bismuth, tungsten and silver
mineralisation over a 2m core length. Assay results define a zone
of strong mineralisation that correlates well with results of drill
holes previously released and historic holes from the Soviet-era
and later drilling. The drill hole intercept validates previously
identified mineralisation in the central portion of the Karakul
zone at depth and indicates continuity of mineralisation along the
strike of the zone.
Karakul North West - Continuity of New
Zone:
The following group
of holes was designed to test for and identify sulphide
mineralisation along the north and most westerly extent of the
Karakul mineralising system.
Hole #185 was
targeted to identify mineralisation approximately 200m north of
Hole #178 along the western edge of the known zone. A narrow, but
weak zone of mineralisation was intersected from 54.4m-56.6m. A
second zone of quartz-sulphide veinlet mineralisation was
intersected from 202.1m-205.1m but did not return any significant
assay results. Overall results suggest that the mineralising system
continues through this underexplored area.
Hole #184 was
designed to trace mineralisation 200m north from Hole #185. The
hole intercepted anomalous cobalt and copper mineralisation from
19m-35m down hole that corresponds with strong
quartz-carbonate-limonite veining and stockwork. Results indicate
that the mineralising structure persists through this
region.
Holes #183 and #195
were all drilled along the same section line 175m north of Hole
#184 and were designed to test for known zones of mineralisation
identified from historical drilling. Both drill holes were
successful in confirming the presence of mineralisation. The
intercepts in Hole #183 support a 50m down dip extension of the
Karakul system from historic drill hole KK095 and also support the
interpretation that these zones are a continuation of the
mineralised zone intersected in Hole # 176 (previously reported)
located 175m to the south. The zone remains open at
depth.
Hole #195 was the
most westerly hole completed on the section and intersected two
narrow zones of mineralisation. The hole was successful in
confirming the presence of projected mineralisation. Even with
limited drilling in this area, the results demonstrate continuity
of the mineralised zone along this western edge of the Karakul
system.
Hole #196 was
designed to trace mineralisation between Holes #184 and #195 at
shallow depths along the western edge of the zone. The hole
intercepted 3.1m of low-grade mineralisation (37.2m-40.3m) and
supports the concept of a traceable zone of mineralisation along
the western edge of the zone.
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:
info@globalcobaltcorp.com
www.GlobalCobaltCorp.com
TSXV:GCO; FRA:3P0;
CUSIP:37890F
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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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