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CBLT Inc. Announces Name Change and Operational Update
Burlington, Ontario--(Newsfile Corp. - June 20, 2017) - CBLT Inc. (TSXV: CBLT) ("CBLT) announc...
About this update from Cblt Inc
[{"type":"text","content":"CBLT Inc. Announces Name Change and Operational UpdateBurlington, Ontario--(Newsfile Corp. - June 20, 2017) - CBLT Inc. (TSXV: CBLT) (\"CBLT) announces it has, with TSX Venture Exchange approval, changed its corporate name from Green Swan Capital Corp. to CBLT Inc. and has changed its trading symbol to CLBT. These changes are now effective. The name \"CBLT\" accurately reflects the focus on cobalt-related mining assets.Management believes the world is suffering through a global cobalt deficit, Demand exceeds the world's ability to produce enough cobalt, and the supply of cobalt is inelastic. Over half of this demand is driven by the consumption of cobalt in lithium-ion batteries in electric vehicles and other uses. This deficit will continue for the foreseeable future as more electric vehicles are put on the road and as the production of cobalt fails to increase to meet this need.This cobalt deficit shapes CBLT's 2017 exploration priorities on its 100%-owned properties discussed below.CBLT carried out a diamond drill program at its main Sudbury cobalt/gold asset in November, 2016, after a successful summer surface program. Pictures from the drill program showing select core and surface samples can be found here http://cbltinc.com/site-exploration.html . The results of that drill program (press release of January 11, 2017 http://cbltinc.com/news.html) showed continuity of gold and cobalt mineralization.To follow up on that drill program, in June, 2017 CBLT began further surface work in Sudbury intended to better understand the property and to lay the foundation for a future second drill program. That surface work will continue intermittently over the next several months. If conditions warrants, CBLT may carry out a drill program there in the latter part of 2017.Roughly one kilometre southwest of CBLT's main Sudbury cobalt/gold asset lies Dryden Cobalt, Concurrent with Phase 2 at the main cobalt/gold asset, Dryden Cobalt will see a basic \"boots and hammers\" Phase 1 exploration. The timing and extent of Phase 2 at Dryden Cobalt will depend on the results from Phase 1.Phase 1 of 2017 exploration at Chilton Cobalt in Quebec is already complete, with results expected in July from soil sampling and a VLEF survey. These results will be communicated as soon as reasonably possible, with Phase 2 beginning shortly thereafter.In Gowganda, ...