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CBLT Samples up to 25.7 g/t Au at Past Producer Falcon Gold, Sudbury, Ontario
Burlington, Ontario--(Newsfile Corp. - July 31, 2024) - CBLT Inc. (TSXV: CBLT) ("CBLT") is plea...
About this update from Cblt Inc
[{"type":"text","content":"\nCBLT Samples up to 25.7 g/t Au at Past Producer Falcon Gold, Sudbury, OntarioBurlington, 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 p...