August 9, 2024 — In a recent interview with InvestorNews host Tracy Hughes, Peter Clausi, President, CEO, and Director of CBLT Inc. (TSXV: CBLT), discussed the promising results from their Phase 1 reconnaissance prospecting program on the Falcon Gold Property in Sudbury, Ontario. The property, purchased from Kinross Gold Corp. in 2023, showed high-grade gold samples, particularly an impressive 25.7 g/t Au. Clausi noted, “This successful initial work program confirms the presence of high-grade gold mineralization as reported by previous operators.” The property includes historic sites like a shaft, dump, and trenches, indicating past productive activity. CBLT’s first sampling program aimed to verify the historical high-grade mineralization, and the results did not disappoint.
Clausi elaborated on how CBLT acquired the Falcon Gold Property, highlighting that it was a strategic purchase due to its location next to CBLT’s Copper Prince property and the historical significance of the site. “We were the only logical buyer to buy the middle piece, and that’s how we came to own this forgotten gold producer,” Clausi explained. The recent sampling compared favorably to historical data, such as samples taken in 1994 that exceeded 30 g/t Au. Moving forward, CBLT plans to conduct more detailed mapping and sampling, including clearing historical features to prepare for a comprehensive 2025 exploration program. Clausi emphasized the importance of leveraging both new and historical data to guide their future exploration efforts.
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About CBLT Inc.
CBLT Inc. (TSXV: CBLT) has an impressive portfolio of eight (8) active exploration projects, and one (1) passive investment across Canada. In Manitoba, they fully own the Shatford Lake Project, focusing on Lithium, which was acquired in 2021. In Sudbury, Ontario, they possess both Copper Prince and the former gold producing Falcon Gold Project, acquired in 2016 and 2023 respectively. These two projects are significant as they jointly cover 100% of the Garson Fault, with resources including Cobalt, Copper, and Gold. Ontario is also home to their Big Duck Lake Project, acquired in 2019, which is rich in Copper, Gold, and Zinc. Similarly, in Newfoundland, the Burnt Pond Project, also acquired in 2019, targets Copper and Zinc resources. Their Geneva Lake Project in Sudbury, focusing on Lead and Zinc, has been under their ownership since 2012. Lastly, the Mikayla Project in British Columbia, acquired in 2012, explores Copper, Gold, and Silver, though no exploration activities were reported for it in fiscal 2023. With regards to passive investments, CBLT acquired title to the Chilton Cobalt property in Quebec in 2017, which was later optioned to PowerStone Metals Corp.
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This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.
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