Global Cobalt Corp. (TSXV:GCO,OTCBB:GLBCF,FWB:3P0) has surpassed historic tonnage numbers with consistent grades in its initial National Instrument 43-101 technical report for the Karakul Cobalt Project in the Altai Republic, Russia. The report was prepared by Wardell Armstrong International Limited.
As quoted in the press release, highlights from the report included:
- Western Zone Indicated Sulphide Resources totaled 17,156.33kt at 0.318% CoEq and Indicated Oxide Resources totaled 981.1kt at 0.257% CoEq for a Total Indicated Oxide + Sulphide Resource totaling 18,137.34kt at 0.314% CoEq at a 0.05% Cobalt equivalent cut-off.
- Western Zone Inferred Resources totaled 2,915.63kt at 0.326% CoEq and Inferred Oxide Resources totaled 17.82kt at 0.069% CoEq for a Total Inferred 2,933.45kt at 0.325% CoEq at a 0.05% Cobalt equivalent cut-off.
- Eastern Zone Inferred Sulphide Resources totaled 5,971.10kt at 0.237% CoEq and Inferred Oxide Resources totaled 147.26kt at 0.261% CoEq for a Total Inferred 6,118.36kt at 0.238% CoEq, both at a 0.05% Cobalt equivalent cut-off.
- Indicated Mineral Resources have been assigned to the majority of the Western Zone mineralization and all Mineral Resources in the Eastern Zone here have been classified as Inferred Resources.
- Both mineralised zones remain open at depth.
- WAI recommends that a comprehensive metallurgical test work programme be implemented in order to improve the support for the CoEq calculation. With more advanced technical work Global Cobalt will move forwards to a Preliminary Economic Assessment (PEA).
Global Cobalt CEO, Erin Chutter, said:
We are extremely impressed with robustness and continuity of the Karakul deposit as outlined NI 43-101 resource report. We have surpassed expectations from the already very promising historically stated numbers. Having a cobalt resource of this scale and in such close proximity to China will assist us position Global Cobalt within the investment community for project advancement and future development funding.