CBLT performs well with cobalt exploration dance partner Winmar

Much of the world’s cobalt is produced as a by-product of copper and nickel mining. To make matters worse over half the world’s cobalt comes from the Democratic Republic of Congo (DRC). There have been serious ethical concerns associated with cobalt. Apple has done its best efforts to track the exact source of their cobalt and if it comes from mines that used child labor. Amnesty International are advocating for the imposition of an ethical supply chain on cobalt coming from the DRC which could restrict supply by a further 10%. These potential supply cuts come at a time of increased demand. Cobalt is critical for the manufacturing of high performance rechargeable batteries that are used in portable electronic devices, electric vehicles (EV), and other power storage applications. Since 2015 rechargeable batteries have accounted for 49% of cobalt demand.

CBLT Inc. (TSXV: CBLT) is a Canadian mineral exploration company. Earlier in 2018, CBLT sold the Bloom Lake Property to Winmar Resources Ltd. (“Winmar”) in a deal that saw CBLT retain a ten per cent management fee.  Reports on exploration work at the Bloom Lake Property (“Bloom Lake”) in Ontario include assay results which confirmed high-grade copper-cobalt mineralization with anomalous gold and nickel. Thirty-three samples were collected from bedrock and from loose material proximal to historical trenches, audits, and shafts. The most notable was Sample 853028, taken south of the No. 1 audit, which assayed 6.84% cobalt, 0.422 g/t gold, 0.58% copper and 1.56% nickel. Winmar and CBLT are currently planning Phase 2 of the Bloom Lake exploration program, intending to further map and sample historical workings ahead of a maiden diamond drilling program. Peter M. Clausi CEO of CBLT stated: “Our choice of Winmar as a cobalt exploration dance partner in Gowganda is being well rewarded.”

CBLT Inc. mine projects

CBLT’s mining assets include Calcite Lake and United Reef in the historic cobalt/silver camp in Gowganda, Ontario. CBLT optioned those two assets to Winmar in 2017. With the recent success of Bloom Lake, Winmar and CBLT are in discussions to accelerate the outstanding option agreements on Calcite Lake and United Reef. Details will be disclosed if mutually acceptable terms are reached.

CBLT Inc. is a Canada based natural resource issuer that targets cobalt in traceable mining jurisdictions. It is primarily engaged in the business of acquiring, exploring and dealing in mineral properties. Their flagship, the Copper Prince Project is located within Falconbridge Township, in the Sudbury Mining District in Ontario, Canada. The Property is comprised of sixteen contiguous patented mining claims totaling 256 ha, and has returned assays (historical) of up to 1.1 oz/ton Au over 5.0 ft, and 4.8% Cu and 0.07 oz/ton Au over 5.0 ft.

CBLT Inc. is based in Burlington, Ontario and has a market cap of C$ 1.72 m.

CBLT continues to be a project generator and an efficient steward of its shareholder’s capital. Promising assay results and its ability to choose good project (“dance”) partners, will see CBLT grow with confidence in the fast developing cobalt related battery storage industry, and proudly doing all this in a reliable ethical mining jurisdiction.

CBLT’s Clausi on global demand for cobalt

“Cobalt is in high demand at the moment and has spiked 128% over the past 12 months…” — starts Kelly Bird of InvestorIntel in an interview with Peter Clausi, CEO, President and Director of CBLT Inc. (TSXV: CBLT).

Peter Clausi: We have strong cobalt assets that are in demand globally. In fact we are going to Australia this week. By the time this video airs we should be back from Australia with results carrying out M&A activity with our Ontario and Quebec assets. In February of 2016 cobalt was at $21,750 a ton.

Kelly Bird: And it is up to $75,000 at the moment, correct?

Peter Clausi: Right. Your 128% number is nice, but it is far more than that dating back to February of ‘16. Two years ago it has gone from $21,750.00. There is a decrease in supply. The Katanga Mine in the Congo is coming on stream. Whether it is going to reliably produce more cobalt or not is still up in the air to be seen. Katanga has had some issues and management they have had some compliance issues. They have had to restate financials and it is the Congo so infrastructure is a challenge.

Kelly Bird: CBLT is based in Canada. Most of your projects are in northern Ontario. I know your flagship project, Copper Prince, has had some really interesting sample results come back – tell us a bit more about this

Peter Clausi: We picked that property up about 2 years ago. We thought there was cobalt at the south end. Historically that property has been worked since the late 1880s. Significant amounts of gold, copper, nickel up in the north end. We thought there was cobalt in the south end and our work there has proven that up. We just got results back from the Ontario Geologic Survey, the district geologists that work on their own…to access the complete interview, click here

Disclaimer: CBLT Inc. is an advertorial member of InvestorIntel Corp.