New Discovery Zone and New Tungsten Copper Values
GLOBAL COBALT CORP. is very pleased to announce that the assay results from the first 7 holes of a 45 hole, 7,500 metre drill program at the Karakul Cobalt Project have confirmed the historic drill data and provide a significant level of confidence in this important cobalt project. Validation assays returned new tungsten, silver, and copper values. In addition, a new discovery zone has been identified at depth.
Highlights:
-Drill assay results confirm and correlate very well with historic data for twinned Russian and Soviet-era drill holes
-New silver, tungsten, copper and bismuth results were returned which could increase metal content in the modeling
-New intersections of previously unknown zones indicates potential for increase in size of the mineralization in the project
-Assays on further holes designed for from infill and extension results are pending
Erin Chutter, President & CEO, said, "These are the assay results for which we have been waiting. These results overall correlate very well with, and verify historic Soviet-era drill hole results and more importantly confirm the validity of the Karakul Cobalt Project, but also include new discovery of zones and new returns of silver and tungsten values. We expect to receive additional assay results from the latest samples in the coming weeks which will further the understanding of the scope for the deposit and prepare us for a NI 43-101 resource report on this exciting project."
This initial phase of the drill program comprised 7 twin drill holes totaling 1,200 metres ("m") designed to check historic data including holes designed to test results from low grade zones to validate historic assaying. All holes reported, with the exception of holes 180 and 181 where designed to twin historic holes from the Soviet-era drilling. Hole selection was determined by SRK to best provide confidence in the historic drilling and were not selected to highlight grade or widths. Interval sampling on the new drill holes was matched as closely as possible to the historic sample intervals to aid in the comparison of results. As reported earlier this week, the Company has since completed drilling the first 39 of a total of 45 holes.
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