Global Cobalt Corporation is a strategic metals company focused on the development of a new mining region in the Republic of Altai, Russia.
As first mover into this new region, Global Cobalt will be able to leverage the world-class Karakul Cobalt Project and bring on stream a number of projects creating a mining district with enormous potential.
The Republic of Altai is a mineral rich, pro-mining region of southern Siberia, Russia, which neighbours the similarly mineral-endowed countries of Kazakhstan, Mongolia and China.
Recognizing strategic metals, and more specifically cobalt, as essential to the world's ever growing need due to the increasing focus on environmental sustainability, the electrification of the modern vehicle and the escalating appetite for consumer electronics such as mobile phones, tablets and laptops, Global Cobalt's primary objective is to define economically feasible projects through the acquisition of tactical mineral assets while aggressively expanding and exploring existing properties to supply the growing demand for cobalt and other strategic metals.
Global Cobalt Corp.'s fourth rig is now active at Karakul cobalt project, Altai Republic, Russia, and the company has now completed the majority of planned holes for the 2013 drill program aimed at historic resource confirmation and infill work.
Commenting today, Paul Sarjeant, Global Cobalt's VP Exploration, stated, "We are well underway and continue to make excellent progress at Karakul with a total of four drill rigs on site. To date we have completed 39 of 45 holes having drilled 5,517 metres. Several samples shipments have been sent to the lab and we are awaiting results of those assays. We hope to have results from the first shipment in the very near future."
As previously reported, the Company continues its 7,500 metre ("m") drill program at Karakul. Below is a summary of the most recent completed drill holes since the last release dated November 20th, 2013. Intersection of visual mineralisation needs confirmation by assay to be understood and included in the resource model.
-- Hole 193 uncovered a stockwork of quartz-limonite veinlets with visual intercepts from 33.7m-41.7m. This is a previously unidentified zone and suggests mineralisation may still be open to the north.
This section has 3 holes designed to fill the gap between section 46 and section 47. All holes hit significant visual mineralization.
-- Hole 197 uncovered quartz-carbonate-sulphide stockwork with intercepts from 47.7m-55.2m and from 59m-61.6m. Hole 197 confirms adit mineralisation and a second zone beneath the adit.
-- Hole 198 uncovered quartz-sulphide stockwork mineralisation with areas of quartz-sulphide breccia and densely disseminated sulphide zones 0.7m-1.0m wide with intercepts from 45.9m-54.4m and from 156.7m-161.7m. Hole 198 appears to have hit the predicted zones 50m below surface, the upper intercept, and also appears to extend the deeper intercept in 197 approximately 110m down dip.
-- Hole 199 intersected two mineralized zones: a quartz-sulphide stockwork with areas of massive sulphides from 86m-130m and a quartz-sulphide stockwork with areas of massive sulphides from 201m-226m. The two intercepts in hole 199 appear to extend the zones in Hole 198 approximately 100m down dip.
-- Hole 200 penetrated 3 mineralized areas:- 98m - 113 m - quartz-sulphide stockwork and massive sulphide mineralisation;- 141m - 150 m - quartz-sulphide stockwork;- 156m - 190 m - quartz-sulphide stockwork with sulphides. Hole 200 was designed to extend and confirm previous known mineralised zones. The hole hit 3 zones that correspond well with previous results in holes KK130 and KK140 drilled in 2006. The new intercepts extend mineralisation down dip approximately 50m. The lower most intercept is substantially wider than the lower most zone in KK140.
-- Hole 201 uncovered 2 mineralised intervals:- 34m - 69 m - quartz-sulphide stockwork with areas of massive sulphides up to 2m wide;- 86m - 110 m - quartz-sulphide stockwork with areas of massive sulphides up to 1.5 m wide. Hole 201 was designed to test between holes KK069 and KK070. It was successful in hitting two visual zones of mineralisation at the approximate locations where predicted with visual intersections being wider than previous established.
-- Hole 217 uncovered a quartz-sulphide stockwork with intervals of quartz-sulphide breccia from 85m-97m and 105m-107m. This represents a new intercept on the Eastern Zone. Section 43.5
-- Hole 202 uncovered a quartz-chlorite-sulphide stockwork from 215m-237m with areas of densely disseminated sulphide ores up to 1.0m wide. .Hole 202 was designed to test down section continuity from hole KK014, and this year's hole 179, a twin of KK011. The hole was successful in intersecting a previously predicted zone of mineralisation and appears to extend the zone down dip approximately 80m from the previous known depth.
Holes drilled on Section 42.5 were designed to fill the gap between section 42 and 43 to add confidence to the resource and trace surface mineralisation. Though all three holes hit visual evidence of mineralisation, the intercepts were narrow in nature.
-- Hole 203 uncovered quartz-chlorite-sulphide stockwork mineralisation from 91m-97.4 m, however appears to have missed the upper zone as projected from surface.
-- Hole 204 shows good mineralisation at the predicted extension of surface mineralisation uncovering quartz-sulphide stockworks from 70m-75m and 83m-114m, however, it appears to have missed the zone in Hole 203.
-- Hole 205 uncovered a quartz vein with limonite, intercepting from 134.1m-134.5m.
The three new holes in this section were designed to fill between sections and to demonstrate down dip continuity of mineralised zones. The section looks very positive in that all holes hit visual mineralisation and demonstrate significant widths and strong continuity of the mineralised zone.
-- Hole 207 uncovered a stockwork of quartz-sulphide veinlets with intercepts from 10m-44m and 51m-60 m.
-- Hole 208 uncovered a quartz-sulphide stockwork with intervals of densely disseminated sulphides up to 2m wide from 61m-76m.
-- Hole 209 uncovered massive sulphides from 24m-28m, and from 105m-128m. The mineralized zones are comprised of quartz-chlorite-sulphide stockwork with areas of massive and disseminated sulphides 0.5m-1.2m wide.
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.