CBLT Announces Results from Falcon Gold
CBLT Announces Results from Falcon Gold
Burlington, Ontario (Newsfile Corp. –June 10, 2025) – CBLT Inc. (TSXV:CBLT) (“CBLT”) is
pleased to report results from a mechanized stripping program completed on the Falcon Gold
Property (the “Property”) in the fall of 2024. The Property, contiguous to CBLT’s Copper Prince
Property, is located on patented mining claims in Sudbury, Ontario . The Falcon Gold Property
was recently purchased from Kinross Gold Corp . (see news release dated June 5th, 2023).
The Property hosts the past producing Falcon Gold Mine. 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 19 88, 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 May 202 4, CBLT completed a reconnaissance prospecting program. A total of 23 grab
samples were collected from outcrop and loose material near the historical Falcon Gold Mine
Site. Results ranged from <0.005 to 25.70 g/t Au, with 7 samples of the 23 grab samples returning
>2 g/t Au (see news release dated July 31 st, 2024).
In October, 2024, CBLT completed a mechani zed stripping program at the Falcon Gold Mine
Site to expose the underlying geology. A n area of 344 m2 was mechanically stripped, washed,
mapped, and channel sampled. A total of 29 channel samples were collected and submitted for
analysis. Channel samples were cut at 1.00 m lengths and f ive channels were cut . Composite
averages ranged from 2.11 g/t Au over 3.00 m to 3.52 g/t Au over 6.00 m, with a high of 8.90
g/t Au over 1.00 m (Figures 1 & 2, Table 1) .
As previously reported, g old mineralization is associated within a pyrite -rich carbonate -
actinolite-chlorite-talc shear zone which strikes approximately 110° and dips 65° to 70° to the
southwest, and cross cuts underlying Paleoproterozoic sedimentary rocks of the Bruce, Espanola,
and Serpent Formations of the Quirk Lake Group, and the Mississagi Formation of the H ough
Lake Group, belonging to the Huronian Supergroup. The stripping program exposed a large
outcropping of Sudbury Breccia immediately south of the mineralized zone.
Figure 1: Channel samples (values reported in g/t Au).
Figure 2: Select Composite Averages (values reported in g/t Au).
Table 1: Selected Composite Results
Channel Composite
Length
(m)
Au (g/t)
1 4.00 3.94
3 4.00 2.16
4 3.00 2.11
5 6.00 3.52
QA/QC Program
Channel samples were cut using a diamond blade saw, inserted into labeled bags, and delivered
by representatives of CBLT to Activation Laboratories Ltd. in North Bay, Ontario. Activation
Laboratories Ltd. is an ISO 17025:2005 accredited testing laboratory.
Samples were analyzed by fire assay using the 1A2 package with a gravimetric finish (1A3
package) for samples that returned greater than 5,000 ppb Au. Multi -element analysis was
completed by near -total digestion (four -acid) with an ICP -OES finish (1F2 package). CBLT
inserts standards and blanks and performs duplicate analysis as part of its QA/QC program.
Activation Laboratories also performs an internal QA/QC program which includes the insertion
of CRM’s, blanks, sample repeats, and duplicate samples.
Qualified Person
The technical information presented in this news release has been reviewed and approved Joerg
Kleinboeck, P. Geo ., a qualified person as defined by National Instrument 43 -101, Standards of
Disclosure for Mineral Projects .
CONTACT INFORMATION
Peter M. Clausi
CEO and Director
1 416 890 1232
@ClausiPeter
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policies of the TSX V enture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news may contain certain statements that constitute forward-looking statements as they relate to CBLT 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", “should”,
"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 or will come to pass.
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, CBLT 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, CBLT 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; SARS-CoV-2; reliance on key personnel; the performance of the leadership
team; shareholder and regulatory approvals; the ability of Powerstone’s leadership team to explore and develop the optioned Chilton
Cobalt property in Quebec; First Nations and other local communities; jurisdictional risk; risks of future legal proceedings; income
tax matters; availability and terms of financing; distribution of securities; commodities pricing; environmental issues; forest fires
and other natural phenomena; rising costs related to inflation; effect of market interest on price of securities; failing to identify an
economically viable mineral deposit; and, potential dilution.
CBLT’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease,
including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID -19 will
have on operations and the ability of others to meet their obligati ons, including uncertainties relating to the ultimate geographic
spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restr ictions
imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population
could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries,
resulting in an economic downturn that could further affect operations and the ability to finance its operations.