Global Cobalt Corp.: Site Visit by Wardell Armstrong Signals Final Requirement Prior to Completion of Resource Report for the Karakul Cobalt Project
June 12, 2014 (Source: Accesswire) — GLOBAL COBALT CORP. (TSXV:GCO, OTCBB:GLBCF, FRA:3P0) (“Global Cobalt” and/or the “Company”) is pleased to announce that Wardell Armstrong International (“WAI”) is currently on location at the Karakul Cobalt Project in the Altai Republic, Russia conducting a site-visit prior to the completion of the NI 43-101 resource report.
Paul Sarjeant, VP Exploration commented:
“We would like to thank Wardell Armstrong for their support, along with their technical and geological capabilities in this final step in preparing the resource report for the Karakul Cobalt Project. This key milestone, having a resource report that is recognized by Western capital markets, will provide a solid platform to advance the funding of the project towards the development phase.”
The site visit is a critical step require by WAI in order to facilitate the completion of an independent National Instrument 43-101 compliant resource report on the Karakul Cobalt Project. As reported on April 24th, 2014, results from the Company’s 45-hole 7,398 metre drill campaign Winter 2013 Program along with historical Russian data are being used to support the preparation of the initial resource estimate for the Karakul Cobalt Project by the highly regarded international engineering, environmental and mining consultancy firm Wardell Armstrong International.
Mr. Paul Sarjeant P.Geo., the Company’s VP Exploration, is the Company’s Qualified Person for the purposes of National Instrument 43-101 and has reviewed and approved the technical contents of this release.
Global Cobalt Corporation:
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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.
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.
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