CBLT Samples up to 25.7 g/t Au at Past Producer Falcon Gold, Sudbury, Ontario
CBLT Inc. (TSXV: CBLT) has reported successful results from its Phase 1 reconnaissance prospecting program at the past-producing Falcon Gold Property in Sudbury, Ontario. The program confirmed high-grade gold mineralization, with grab samples yielding up to 25.7 g/t Au. The property, recently purchased from Kinross Gold Corp., has a history of gold discovery dating back to 1890.
Key findings include:
- 23 grab samples collected, with 7 samples returning grades over 2 g/t Au
- Gold mineralization associated with a pyrite-rich shear zone
- Historical resource estimate of 59,400 tons grading 0.226 oz/ton (not NI 43-101 compliant)
CBLT plans further work, including additional sampling and mapping, ahead of a mechanized stripping program to better understand the geological controls at Falcon Gold.
CBLT Inc. (TSXV: CBLT) ha riportato risultati positivi dal suo programma di prospezione di ricognizione di Fase 1 presso la Falcon Gold Property, una proprietà storicamente produttiva a Sudbury, Ontario. Il programma ha confermato la mineralizzazione aurifera ad alta grade, con campioni prelevati che hanno raggiunto fino a 25,7 g/t Au. La proprietà, recentemente acquisita da Kinross Gold Corp., ha una storia di scoperta dell'oro che risale al 1890.
I principali risultati includono:
- 23 campioni prelevati, di cui 7 hanno restituito gradi superiori a 2 g/t Au
- Mineralizzazione aurifera associata a una zona di taglio ricca di pirite
- Stima delle risorse storiche di 59.400 tonnellate con una gradazione di 0,226 oz/ton (non conforme NI 43-101)
CBLT prevede ulteriori lavori, inclusi campionamenti e mappatura aggiuntivi, in preparazione a un programma di stripping meccanizzato per comprendere meglio i controlli geologici presso Falcon Gold.
CBLT Inc. (TSXV: CBLT) ha reportado resultados exitosos de su programa de prospección de reconocimiento de Fase 1 en la históricamente productiva Falcon Gold Property en Sudbury, Ontario. El programa confirmó la mineralización de oro de alta ley, con muestras obtenidas que alcanzan hasta 25.7 g/t Au. La propiedad, comprada recientemente a Kinross Gold Corp., tiene una historia de descubrimiento de oro que se remonta a 1890.
Los hallazgos clave incluyen:
- 23 muestras obtenidas, de las cuales 7 presentaron grados superiores a 2 g/t Au
- Mineralización de oro asociada con una zona de corte rica en pirita
- Estimación de recursos histórica de 59,400 toneladas con una ley de 0.226 oz/ton (no conforme a NI 43-101)
CBLT planea realizar más trabajos, incluyendo muestreo y mapeo adicionales, antes de un programa de despojo mecanizado para entender mejor los controles geológicos en Falcon Gold.
CBLT Inc. (TSXV: CBLT)는 온타리오주 서드버리의 과거 생산된 Falcon Gold Property에서 제품 탐사의 1단계 프로그램에서 성공적인 결과를 보고했습니다. 이 프로그램은 채취된 샘플에서 최대 25.7 g/t Au의 고급 금 광물화를 확인했습니다. 최근 Kinross Gold Corp.로부터 구입한 이 부지는 1890년대부터 금 발견의 역사를 가지고 있습니다.
주요 발견 사항은 다음과 같습니다:
- 23개의 채취 샘플 중 7개 샘플이 2 g/t Au 이상
- 황철광이 풍부한 전단대와 관련된 금 광물화
- 59,400 톤에 대한 역사적 자원 추정치, 0.226 oz/ton급 (NI 43-101 비준수)
CBLT는 Falcon Gold에서 지질학적 제어를 더 잘 이해하기 위해 추가 샘플링 및 매핑을 포함한 추가 작업을 계획하고 있습니다.
CBLT Inc. (TSXV: CBLT) a rapporté des résultats positifs de son programme de prospection de reconnaissance de Phase 1 sur la Falcon Gold Property, une propriété historiquement productive située à Sudbury, Ontario. Le programme a confirmé une minéralisation de l'or de haute qualité, avec des échantillons prélevés atteignant jusqu'à 25,7 g/t Au. La propriété, récemment acquise auprès de Kinross Gold Corp., a une histoire de découverte de l'or remontant à 1890.
Les principales conclusions comprennent :
- 23 échantillons prélevés, dont 7 ont retourné des teneurs supérieures à 2 g/t Au
- Minéralisation aurifère associée à une zone de cisaillement riche en pyrite
- Estimation des ressources historiques de 59 400 tonnes avec une teneur de 0,226 oz/ton (non conforme à la NI 43-101)
CBLT prévoit de poursuivre ses travaux, y compris des échantillonnages et des cartographies supplémentaires, avant un programme de décapage mécanisé pour mieux comprendre les contrôles géologiques à Falcon Gold.
CBLT Inc. (TSXV: CBLT) hat erfolgreiche Ergebnisse aus seinem Phasen-1-Erkundungsprogramm im historisch bedeutenden Falcon Gold Property in Sudbury, Ontario, gemeldet. Das Programm bestätigte hochgradige Goldmineralisierung mit Grabproben, die bis zu 25,7 g/t Au erzielten. Die Liegenschaft, die kürzlich von Kinross Gold Corp. erworben wurde, hat eine Geschichte der Goldentdeckung, die bis ins Jahr 1890 zurückreicht.
Wichtige Ergebnisse sind:
- 23 Grabproben gesammelt, wobei 7 Proben Gehalte über 2 g/t Au zurückgaben
- Goldmineralisierung, die mit einer pyritreichen Scherzone assoziiert ist
- Historische Ressourcenschätzung von 59.400 Tonnen mit einem Gehalt von 0,226 oz/ton (nicht NI 43-101-konform)
CBLT plant weitere Arbeiten, einschließlich zusätzlicher Probenahme und Kartierung, im Rahmen eines mechanisierten Abbauprogramms, um die geologischen Kontrollen bei Falcon Gold besser zu verstehen.
- High-grade gold mineralization confirmed with grab samples up to 25.7 g/t Au
- 7 out of 23 grab samples returned grades greater than 2 g/t Au
- Property has historical resource estimate of 59,400 tons grading 0.226 oz/ton
- Planned additional sampling, mapping, and mechanized stripping program to further explore the property
- Historical resource estimate is not compliant with current NI 43-101 standards
- Grab samples are selective and may not be representative of overall mineralization
Burlington, Ontario--(Newsfile Corp. - July 31, 2024) - CBLT Inc. (TSXV: CBLT) ("CBLT") is pleased to report on its successful Phase 1 reconnaissance prospecting program completed on the past producing Falcon Gold Property (the "Property"). The Property is located on patented mining claims in Sudbury, Ontario, which were recently purchased from Kinross Gold Corp. (see news release dated June 5, 2023). It is contiguous to CBLT's Copper Prince property.
Peter M. Clausi, CEO of CBLT comments, "This successful initial work program confirms the presence of high-grade gold mineralization as reported by previous operators. Further work is ongoing including additional sampling and mapping ahead of a mechanized stripping program that will allow for a better understanding of the geological controls at Falcon Gold."
Gold mineralization on the Property 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.
In 1947, Falconbridge Ltd. acquired the Property and completed several phases of exploration on the Property. 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.
To follow up on Bailey's work and the historical resource estimate, during May, 2024 CBLT completed an initial 3-day prospecting program with the purpose of locating historical features on the Property, verifying mineralization described by previous operators at the past-producing Falcon Gold Mine site, and completing regional traverses.
A total of 23 grab samples were collected from outcrop and loose material near the historical Falcon Gold Mine site. Results range from <0.005 g/t Au to 25.70 g/t Au. Out of the 23 grab samples, 7 samples returned grades greater than 2 g/t Au, with a highlight of 25.7 g/t Au (Figure 1, Table 1). Gold mineralization is associated within a pyrite-rich carbonate-actinolite-chlorite-talc shear zone which strikes approximately 110° and dips 65° to 70° to the southwest, and cross cuts underlying Paleoproterozoic sedimentary rocks of the Bruce, Espanola, Serpent of the Quirk Lake Group, and the Mississagi Formation of the Hough Lake Group, belonging to the Huronian Supergroup. The easterly striking Garson Fault and northwest striking Bailey Corners Fault project through the Falcon Gold Property.
Figure 1: Grab Sample Locations, Falcon Gold Property
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Table 1: Selected Results
| 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 |
Grab samples are selective in nature, and the above reported assay results may not be representative of the mineralization on the Property.
QA/QC Program
Grab samples were collected from the field and inserted into labeled bags, sealed, and delivered by representatives of CBLT to Activation Laboratories Ltd. in North Bay, Ontario. Activation Laboratories Ltd. is an ISO 17025:2005 accredited testing laboratory.
Samples were analyzed by fire assay using the 1A2 package with a gravimetric finish (1A3 package) for samples that returned greater than 5,000 ppb Au. CBLT inserted standards and blanks as part of its QA/QC program. Activation Laboratories also performs an internal QA/QC program which includes the insertion of CRM's, blanks, sample repeats, and duplicate samples.
Qualified Person
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/218348
FAQ
What were the highest gold grades found in CBLT's sampling at Falcon Gold Property?
How many grab samples from CBLT's program at Falcon Gold returned over 2 g/t Au?
What is the historical resource estimate for the Falcon Gold Property (CBBLF)?
When did CBLT acquire the Falcon Gold Property in Sudbury, Ontario?
