Global Cobalt (CVE:GCO) (OTCBB:GLBCF) said it has hired AGP Mining Consultants to complete a resource model and technical NI 43-101 report for its Werner Lake cobalt project in northwestern Ontario.
"We are pleased to be able to re-enlist the services of AGP to carry out the necessary work to complete a compliant resource report for Werner Lake building on the drilling and other geological work completed on the project in 2010," said the company's VP of exploration, Paul Sarjeant.
"A significant amount of this work has already been completed by AGP's predecessor PG&E Mining Consultants allowing for significant cost savings to the company.
"Ultimately we hope to confirm the historic resources at Werner Lake and if possible expand upon the resource based on our recent drilling program."
The Werner Lake project is located on the same mineral belt that hosts the historic Gordon Lake copper-nickel mine, and is home to the Werner Lake and West Werner Lake cobalt-copper-gold mines as well as several other exploration targets.
The company completed over 7,500 metres of drilling at Werner Lake and Werner Lake West in 2010, with the aim of moving towards an NI 43-101 compliant mineral resource estimate. It also uncovered an eastern extension at the project, which remains an attractive drill target, Global Cobalt said.
The mineral explorer just raised almost $156,000 for work on its Werner Lake and newly acquired Iron Creek cobalt projects, as it looks to become a Global Cobalt producer.
Global Cobalt is developing its advanced-stage Karakul cobalt project in Russia, but recently expanded its horizons by acquiring the Iron Creek cobalt property, giving it a foothold in the famed Idaho Cobalt Belt.
The company's chief executive says the move was borne partly from a response to concerns of shareholders, who were worried about its significant Russian exposure. As a result, it has reached out to bring in new projects, while continuing to maintain Karakul.
Global Cobalt also owns the Werner Lake cobalt property, and is looking to bring in other projects to achieve its primary goal of becoming a consolidator.