Further Strong Cobalt and Gold Values at CBLT’s Flagship Sudbury Project
January 22, 2018 (Source) —
- Sample 616311 returned 54.3 g/t Au, 0.50 % Co
- Sample 616313 returned 12.8 g/t Au, 0.47% Co
- Sample 616318 returned 4.31 g/t Au, 0.44% Co
CBLT Inc. (“CBLT“) (TSXV: CBLT) is pleased to report on additional sampling completed on the Copper Prince Property in Sudbury, Ontario. These results are in addition to the results reported January 15th, 2018.
Grab sample highlights include sample 616311 that returned 54.3 g/t Au, 0.50 % Co; sample 616313 that returned 12.8 g/t Au, 0.47% Co; and, sample 616318 that returned 4.31 g/t Au, 0.44% Co.
During November, 2017, CBLT collected 9 grab samples and 38 soil samples from Ed’s Watering Hole (“EWH”) at the south end of the Property. The 9 grab samples were taken at random from bedrock at EWH. The soil samples were taken methodically from two established grid lines, one to the north and one to the south of EWH. The goal of the program was to gather further insight into the surface expressions of the known mineralization.
“We are extremely pleased with how this property continues to reveal itself to us,” said Peter M. Clausi, CBLT’s CEO. “Today’s results combine with the results from the diamond drill program and the OGS’ results to show what we believe to be a continuity of gold and cobalt mineralization in the quartz veinworks.”
Grab sample highlights include sample 616311 that returned 54.3 g/t Au, 0.50 % Co; sample 616313 that returned 12.8 g/t Au, 0.47% Co; and, sample 616318 that returned 4.31 g/t Au, 0.44% Co. The grab sample results are provided in Table 1 below.
Get our daily investorintel update
Table 1: Copper Prince Grab Samples
|Samples||Au (g/t)||Co (ppm)|
The 38 soil samples were taken at 12.5 metre intervals. Grid lines, oriented east-west, were approximately 200 metres in length, with one line located 100 metres north of Ed’s Watering Hole, and the other 50 metres south of Ed’s Watering Hole. Soil values ranged from 81 to 843 ppb Co; however, CBLT management believes additional sampling is required to accurately interpret these results. CBLT intends to carry out that additional sampling in the 2018 field season, with a view to completing a Phase 2 diamond drilling program in the latter part of 2018. The grab and soil samples are selected samples, and are not necessarily representative of the mineralization hosted on the Property. An updated map will soon be available at CBLT’s website.
Samples were collected, assigned a sample ticket with a designated number, and sealed in a plastic bag. The samples were then placed in a rice bag with a secure locking strap, and shipped by a bonded courier to AGAT Laboratories Ltd.’s facility located in Mississauga, Ontario. AGAT is accredited to ISO/IEC 17025 by Standards Council of Canada.
Once the grab sample is received by AGAT, the grab sample is assigned an internal sample number, weighed, crushed, and 250 grams of the homogenized material is then pulverized. Gold, platinum and palladium analysis is performed using a 30g fire assay fusion followed by an Inductively Coupled Plasma — Optical Emission Spectrometry (ICP-OES) finish. The ranges for said elements are as follows — Gold 0.001ppm to 10ppm, Platinum 0.005ppm to 10ppm, Palladium 0.001ppm-10ppm. Samples with gold values that are greater than the upper limit (10ppm) were re-analyzed using a 50g fire assay fusion with gravimetric finish. Additional analyses include a 22 multi-element package by sodium peroxide fusion followed by ICP-OES finish, silver analysis by aqua regia digestion followed by AAS finish.
For the soil samples, once received by AGAT, 50 g of the sample is weighed out. An EDTA solution (Ethylenediaminetetraacetic Acid) is then added, agitated, and allowed to settle for a period of approximately 12 hours. The solution is then analyzed by Inductively Coupled Plasma — Mass Spectrometry (ICP-MS) finish.
QA/QC samples were not inserted as the program was reconnaissance in nature, and CBLT has relied upon AGAT’s internal QA/QC for control.
The soil and grab samples were collected by, and the technical content of this news release has been reviewed and approved by, Mr. Joerg Kleinboeck, P.Geo., an independent consulting geologist and a Qualified Person as defined in NI 43-101.
Update on Agreements with Winmar Resources
CBLT also announces that it has signed formal documentation on its previously announced (the “Agreement”) with Winmar Resources Ltd. (“Winmar”) (see CBLT’s press release of December 6th, 2017) related to the sale and option of certain unpatented mining claims in the Cobalt-Gowganda Silver Camp in Ontario, Canada (the “Claims”). CBLT expects to close on the Agreements in the immediate future. CBLT thanks Winmar for the smooth transactions and looks forward to a long mutually-profitable relationship.
Winmar is an Australian mining company listed on the Australian Stock Exchange under the symbol “WFE”, led by a highly regarded and experienced team. The Claims are located peripheral to a cluster of former silver-cobalt mines at Gowganda, 85 kilometres northwest of the town of Cobalt, which mines operated from 1910 to 1989. Production from this region to the end of 1969 was 60.1 million ounces of silver and 1.4 million pounds of cobalt.
CBLT is a Canadian mineral exploration company with a proven leadership team, targeting cobalt in reliable mining jurisdictions. CBLT continues to be a project generator and an efficient steward of its shareholders’ capital.
Forward Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to the Company 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”, “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.
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, the Company 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, the Company 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: reliance on key personnel; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; effect of market interest rates on price of securities, and potential dilution.
About CBLT Inc.
On Behalf of the Board of Directors
“Peter M. Clausi”
Peter M. Clausi
CEO and Director
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.
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.