VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 13, 2016) - Global Copper Group Inc. ("Global") (TSX VENTURE:ICU) is pleased to announce the start of its exploration program on the recently acquired cobalt properties in Cobalt, Ontario (see news releases dated September 6th and 13th, 2016, and Oct 11th, 2016).
Phase 1 of the program will include an airborne magnetic survey to delineate orientations of the structurally controlled Co-Ag mineralized veins. As well, the company will fly a LIDAR survey, providing a clear picture of the historical mine infrastructure already in place and establishing a baseline depiction of the environment prior to ground exploration. Additionally, Global will compile historical data and conduct surface work, including mapping, sampling, and ground truthing. The resulting geological picture will better enable Global to sample historic trenches for grade estimation purposes and to define drill targets.
Phase 2, expected to begin in early 2017, will consist of exposing historic mine shafts (one on the Smith Cobalt property and four on the Kirk Lake property) and re-establishing the underground workings. This will allow the company direct access to previously mined veins to facilitate their sampling.
"This is an exciting step in our ongoing efforts to outline the development potential of our cobalt assets," Dr. Andreas Rompel, President & CEO comments. "Our objective now is to take this work to the next stage of defining targets for a future exploration drill program. We are thrilled to get an early start on the project before the onset of winter."
Chris M. Healey, P.Geo. a Director of Global Copper Group is the Qualified Person responsible for the technical content of this release and consents to its dissemination.
About Global Copper Group Inc.
Global Copper Group Inc. is a publicly traded Canadian exploration company listed on the TSX-Venture Exchange (TSX VENTURE:ICU) focused on mineral exploration and development. The company plans to acquire, de-risk and advance assets in mining friendly jurisdictions prior to seeking joint venture partnerships.
On behalf of the Board of Directors,
Dr. Andreas Rompel, President and CEO
Global Copper Group Inc.
We seek safe harbor.
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The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Forward Looking Information
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.