CBLT Commences Phase 2 at Past Producer Falcon Gold
CBLT Inc. (TSXV: CBLT) has initiated Phase 2 of its work program at the Falcon Gold Property in Sudbury, Ontario, following a successful Phase 1. The property, which includes the past-producing Falcon Gold Mine, is located on 100% owned patented mining claims. Phase 2 involves a mechanized stripping program to follow up on previously reported grab samples with gold values up to 25.7 g/t.
The program aims to better understand the geological controls at the property. Phase 1 assay results, announced in July 2024, showed gold values ranging from <0.005 g/t to 25.7 g/t. Phase 2 will focus on locating and stripping historical features such as trenches and the dump for further sampling and mapping.
Historically, gold mineralization was discovered at the site in 1890, with various exploration phases conducted over the years. A 1988 drill program by Falconbridge calculated historical resources of 59,400 tons grading 0.226 oz/ton.
CBLT Inc. (TSXV: CBLT) ha avviato la Fase 2 del suo programma di lavoro presso la Falcon Gold Property a Sudbury, Ontario, dopo il successo della Fase 1. La proprietà, che include la storica Falcon Gold Mine, è situata su richieste minerarie brevettate del 100% di proprietà. La Fase 2 prevede un programma di rimozione meccanizzata per seguire i campioni precedentemente segnalati con valori di oro fino a 25.7 g/t.
Il programma mira a comprendere meglio i controlli geologici sulla proprietà. I risultati delle analisi della Fase 1, annunciati a luglio 2024, hanno mostrato valori di oro che vanno da <0.005 g/t a 25.7 g/t. La Fase 2 si concentrerà sull'individuazione e sulla rimozione di caratteristiche storiche come trincee e discariche per ulteriori campionature e mappatura.
Storicamente, la mineralizzazione dell'oro è stata scoperta nel sito nel 1890, con varie fasi di esplorazione condotte nel corso degli anni. Un programma di perforazione del 1988 da parte di Falconbridge ha calcolato risorse storiche di 59.400 tonnellate con una gradazione di 0.226 oz/ton.
CBLT Inc. (TSXV: CBLT) ha iniciado la Fase 2 de su programa de trabajo en la Propiedad de Oro Falcon en Sudbury, Ontario, tras el éxito de la Fase 1. La propiedad, que incluye la histórica Mina de Oro Falcon, se encuentra en reclamos mineros patentados de propiedad total. La Fase 2 implica un programa de despojo mecanizado para continuar con las muestras de oro previamente informadas con valores de hasta 25.7 g/t.
El programa tiene como objetivo comprender mejor los controles geológicos en la propiedad. Los resultados de assayed de la Fase 1, anunciados en julio de 2024, mostraron valores de oro que van desde <0.005 g/t hasta 25.7 g/t. La Fase 2 se centrará en localizar y despojar características históricas como trincheras y el vertedero para más muestreo y mapeo.
Históricamente, la mineralización de oro se descubrió en el sitio en 1890, con varias fases de exploración realizadas a lo largo de los años. Un programa de perforación de 1988 por Falconbridge calculó recursos históricos de 59,400 toneladas con un grado de 0.226 oz/ton.
CBLT Inc. (TSXV: CBLT)는 온타리오주 서드버리의 팔콘 골드 재산에서 1단계의 성공을 이어 받아 2단계 작업 프로그램을 시작했습니다. 이 재산은 과거에 생산된 팔콘 골드 광산을 포함하며, 100% 소유된 특허 광산 청구권에 위치하고 있습니다. 2단계는 기계화 제거 프로그램을 포함하여 이전에 보고된 금 시료를 바탕으로 이루어집니다. 금 값은 최고 25.7 g/t입니다.
이 프로그램은 재산의 지질적 통제를 더 잘 이해하는 것을 목표로 하고 있습니다. 2024년 7월 발표된 1단계 시료 결과는 금 값이 <0.005 g/t에서 25.7 g/t까지 다양함을 보여주었습니다. 2단계에서는 역사적 특성(해자 및 폐기물 더미 등)을 찾아내고 제거하여 추가 샘플링 및 매핑을 진행할 것입니다.
역사적으로 이 지역에서 1890년에 금 광체가 발견되었으며, 다수의 탐사 단계가 진행되었습니다. 1988년에 팔콘브리지에서 실시한 시추 프로그램은 59,400톤의 역사적 자원을 계산했으며, 등급은 0.226 oz/ton이었습니다.
CBLT Inc. (TSXV: CBLT) a lancé la Phase 2 de son programme de travail sur la Propriété d'Or Falcon à Sudbury, Ontario, après le succès de la Phase 1. La propriété, qui comprend l'historique Mine d'Or Falcon, est située sur des revendications minières brevetées entièrement détenues. La Phase 2 implique un programme de déblaiement mécanisé pour approfondir les échantillons de grabes précédemment rapportés avec des valeurs d'or allant jusqu'à 25,7 g/t.
Le programme vise à mieux comprendre les contrôles géologiques sur la propriété. Les résultats des analyses de la Phase 1, annoncés en juillet 2024, ont montré des valeurs d'or allant de <0,005 g/t à 25,7 g/t. La Phase 2 se concentrera sur la localisation et le déblaiement de caractéristiques historiques telles que les tranchées et les décharges pour des échantillonnages et un cartographie supplémentaires.
Historiquement, la minéralisation d'or a été découverte sur ce site en 1890, avec diverses phases d'exploration menées au fil des ans. Un programme de forage de 1988 de Falconbridge a calculé des ressources historiques de 59 400 tonnes avec une teneur de 0,226 oz/tonne.
CBLT Inc. (TSXV: CBLT) hat Phase 2 seines Arbeitsprogramms auf dem Falcon-Goldgrundstück in Sudbury, Ontario, nach dem erfolgreichen Abschluss von Phase 1 eingeleitet. Das Grundstück, das die ehemalige Falcon-Goldmine umfasst, befindet sich auf vollständig im Besitz befindlichen patentierten Bergbauansprüchen. Phase 2 umfasst ein mechanisiertes Abtragungsprogramm, um zuvor gemeldete Grabproben mit Goldwerten von bis zu 25,7 g/t nachzuvollziehen.
Das Programm hat zum Ziel, die geologischen Kontrollen auf dem Grundstück besser zu verstehen. Die Analyseergebnisse der Phase 1, die im Juli 2024 bekannt gegeben wurden, zeigten Goldwerte von <0,005 g/t bis 25,7 g/t. Phase 2 wird sich darauf konzentrieren, historische Merkmale wie Gräben und Halden zu lokalisieren und abzutragen, um weitere Probenahmen und Kartierungen durchzuführen.
Historisch wurde die Goldmineralisierung an diesem Standort 1890 entdeckt, und im Laufe der Jahre wurden verschiedene Erkundungsphasen durchgeführt. Ein Bohrprogramm von Falconbridge aus dem Jahr 1988 schätzte historische Ressourcen von 59.400 Tonnen mit einem Gehalt von 0,226 oz/Tonne.
- Phase 2 work program commenced following successful Phase 1
- High-grade gold samples up to 25.7 g/t Au from Phase 1
- Property includes past-producing Falcon Gold Mine
- Historical resources calculated at 59,400 tons grading 0.226 oz/ton (non-compliant)
- Historical resource estimate not compliant with current CIM definitions
- No records of production from the historical Falcon Gold Mine
Burlington, Ontario--(Newsfile Corp. - October 16, 2024) - After a successful Phase 1, CBLT Inc. (TSXV: CBLT) ("CBLT") is pleased to announce the commencement of a Phase 2 work program on the Falcon Gold Property (the "Property"). The Property is situated on
CBLT is also advancing its mergers and acquisitions mandate in communicating with potential partners concerning CBLT's other Canadian assets.
The Phase 2 program at the Property includes a mechanized stripping program to follow up on previously reported grab samples collected earlier this field season with gold values that ranged from <0.005 g/t to 25.7 g/t (see News Release dated July 31st, 2024). The program, which recently commenced, will allow for a better understanding of the geological controls at the Property.
Excavator at Falcon Gold
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Assay results from samples taken from the Property in Phase 1 were announced in July, 2024, the highest of which was 25.7 Au g/t:
| Sample | Easting | Northing | Au (g/t) |
| 864865 | 519937 | 5157078 | 25.70 |
| 864876 | 519945 | 5157083 | 8.96 |
| 864867 | 519934 | 5157076 | 4.80 |
| 864873 | 519929 | 5157077 | 4.38 |
| 864866 | 519936 | 5157081 | 4.06 |
| 864877 | 519933 | 5157074 | 3.81 |
| 864872 | 519926 | 5157077 | 2.42 |
| 864878 | 519924 | 5157081 | 1.63 |
| Chart 1: Assay results from Phase 1 sampling | |||
Figure 1: Grab Sample Locations, Falcon Gold Property
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Phase 2 consists of locating and stripping historical features such as trenches and the dump to allow for further sampling and mapping.
Historically, prior to CBLT's ownership of the Property, gold mineralization was initially discovered in 1890. During the same year, a shaft was sunk to a depth of 46 ft followed by 59 ft of crosscutting. In 1935, the shaft was dewatered and deepened to 215 ft with levels established at 100 and 200 ft. No records are known to exist regarding production from the Falcon Gold Mine.
Falconbridge Ltd. acquired the Property in 1947 and completed several phases of exploration. In 1988, Falconbridge completed a 24-hole, 14,951 ft drill program and calculated resources at 59,400 tons grading 0.226 oz/ton (Bailey, 1994). (The mineral resource estimate is a historical estimate as defined by National Instrument 43-101. The historical resource estimate contains categories that are not consistent with current CIM definitions. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. No attempt was made to reconcile the historical resource estimate. CBLT is not treating the historical resource estimate as a current mineral resource or mineral reserve.)
In 1994, G. Bailey collected five grab samples from near the former mine shaft. Two pyrite-rich surface samples assayed 50.47 and 53.21 g/t Au whereas three pyrite-rich dump samples assayed 33.60 g/t Au, 38.33 g/t Au, and 40.46 g/t Au.
The technical information presented in this news release has been reviewed and approved Joerg Kleinboeck, P. Geo, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
CONTACT INFORMATION
Peter M. Clausi
CEO and Director
1 416 890 1232
pclausi@cbltinc.com
@ClausiPeter
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news may contain certain statements that constitute forward-looking statements as they relate to CBLT and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "should", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct or will come to pass.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, CBLT will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, CBLT assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to; SARS-CoV-2; reliance on key personnel; the performance of the leadership team; shareholder and regulatory approvals; the ability of Powerstone's leadership team to explore and develop the optioned Chilton Cobalt property in Quebec; First Nations and other local communities; jurisdictional risk; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; commodities pricing; environmental issues; forest fires and other natural phenomena; rising costs related to inflation; effect of market interest on price of securities; failing to identify an economically viable mineral deposit; and, potential dilution.
CBLT's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226807
FAQ
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