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Gobal Cobalt Corp. (TSXV:GCO,OTCBB:GLBCF) has commenced a technical review of its wholly owned Werner Lake cobalt project located in northwestern Ontario. Global Cobalt is undertaking the review due to domestic demand and recent cobalt price increases.
As quoted in the press release:
The Werner Lake Project is located in northwestern Ontario, in the same mineral belt that hosts the historic Gordon Lake copper-nickel mine, and the Werner Lake and West Werner Lake cobalt-copper-gold mines. The present day Werner Lake Project hosts the two former cobalt producers and several other attractive exploration targets. Based on Government of Ontario assessment records, the Werner Lake Mine produced 146,386 lbs of cobalt from 1940 to 1944 by Falconbridge predecessor Ventures Limited, and the Werner Lake West Mine produced approximately 10,000 tonnes of cobalt ore between 1996 and 1997 under the direction of Canmine Resources Corporation.
Global Cobalt Corp CEO, Erin Chutter, said:
Although the development of the Karakul cobalt project continues to remain the Company’s main priority, we wish to evaluate Werner Lake with a goal to resume the work necessary to finalize the already initiated NI 43-101 compliant resource report. In light of rising cobalt prices and stronger demand for cobalt we believe a re-start at Werner Lake would provide domestic exposure for shareholders
Click here to read the Global Cobalt Corp (TSXV:GCO) press release
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