Global Cobalt Corp. (TSXV:GCO,FWB:3P0) commenced a fully funded drill and technical work program at its Karakul Cobalt Project in Russia. The $3,000,000 program includes a 7,200-metre validation and expansion drill campaign, as well as a metallurgical scoping study.
As quoted in the press release:
The $3 Million program includes a 7,200-metre validation and expansion drill campaign. The drill plan was developed following an extensive data compilation, review, and geological modeling of the historical work by SRK Consulting Ltd. Moscow (“SRK”). A metallurgical scoping study is also included in the work program. Global Cobalt is acting as Operator as per the earn-in option agreement with Imperial Mining Holdings Limited (“IMHL”). The program is expected to run for six months.
Work Program Details:
The drilling campaign has been designed to assess the merit of the historical work conducted on the property during the Soviet era. The Company’s primary objective is to bring the Russian P Category resource into C levels of confidence for conversion to western standard resource categories. Upon completing the work program, it is anticipated that SRK will prepare a NI 43-101 compliant Mineral Resource for the Karakul project. Once the initial deposit drilling is complete, a second phase will commence with the objective of demonstrating continuity between contiguous deposits and delineate additional resource at Karakul and throughout the mineralized sector.
The work program will consist of the following:
- Data compilation and interpretation with drill target selection and drill program planning completed by SRK
- Based on geological modeling, Global Cobalt will deploy two drill rigs to site and initiate a validation drill campaign totaling 7,500m.
- Further metallurgical testing is anticipated to be carried out by SGS lab in Chita, Russia from initial work campaign
- Additional drilling is expected to test regional targets in the Company’s highly prospective Altai Sister Projections that follow a mineralized north-south arc from Karakul.
Global Cobalt Corp. President and CEO, Erin Chutter, said:
This program is designed to increase the value and understanding of the Karakul Project, which is located in close proximity to the main cobalt markets in Asia.