CBLT Reports Results from Big Duck Lake
CBLT Reports Results from Big Duck Lake
Burlington, Ontario--(Newsfile Corp. - June 28, 2023) - CBLT Inc. (TSXV: CBLT) ("CBLT" or "the
Company") reports the results from its work program at Big Duck Lake in the autumn of 2022.
Big Duck Lake is in the Hemlo West Camp, located east of Thunder Bay, Ontario. Strategically, it is 4
kilometres west of the past-producing polymetallic Winston Lake Zinc Mine. The Winston Lake Zinc Mine
produced 2.68 million tonnes of 12.05% zinc, 1.05% copper, 1.07 g/t gold and 31.37 g/t silver.
Big Duck Lake covers six kilometres of prospective geology containing numerous gold and base metal
showings. One of the showings is the Coco-Estelle Deposit, which hosts a historical resource estimate
of 53,700 tonnes grading 10.7 g/t gold.
This 1993 resource estimate was generated by Metall Mining Corporation ("Minnova"), funded by Rusty
Lake Resources, following a ten diamond drill hole program and is contained in a report authored by
Lewis, P., 1993:
Big Duck Lake Property, Diamond Drill Report, July 27 - August 17, 1993
. CBLT is
not treating this estimate as current mineral resources. It does not follow the required disclosure for
reserves and resources as outlined in
NI43-101
as it predated
NI43-101
. The historical resource
estimate generated by Minnova has not been redefined to conform to the CIM approved standards as
required in
NI 43-101
. From his Statement of Qualifications it appears the author may have been a
qualified person under current definitions, but CBLT cautions that no qualified person has not done
sufficient work to classify the historical estimate as current mineral resources.
Given the above non-conforming historical estimate, the main focus of exploration at Big Duck Lake has
been Coco-Estelle. A prior owner carried out a drill program in 2017 at Coco-Estelle, reported in 2018,
which included one over-limit sample from Hole BD17-01, initially reported as >10 grams per tonne (g/t)
gold over 0.5 metres (m). The prior owner re-ran this sample using a "gravimetric" finish (GTA
Resources and Mining Inc. press release, January 29, 2018).
On the re-run, the prior owner reported a value from this sample of 823.1 g/t (26.339 oz/ton) gold over
0.5 m, within a larger section of 1.3 m grading 320.1 gold g/t. Individual assays results from the 1.3 metre
section were reported as follows.
Sample Number
From
To
Total Meters
g/t Gold
BD17-01-5570390
88.7
89.2
0.5
823.1
BD17-01-5570391
89.2
90
0.7
5.73
In addition to the gold at Coco-Estelle, the property hosts numerous other occurrences. The purpose of
CBLT's 2022 field program was to visit and sample some of these other occurrences. Two areas were
selected for prospecting, being the North Gold showing immediately to the northwest of Big Duck Lake
on the west side of the property and the area around Sulphur and Cable Lakes in the north of the
property.
The results of the program and the team's observations in the field indicate that further work will be
carried out at Big Duck Lake to continue testing the lesser-known targets.
The North Gold showing consists of a rusty zone with disseminated pyrite. The area coincides with an
historical IP anomaly. One drillhole was drilled in the area in 1993 and limited grab sampling has been
conducted over the years.
The area around Sulphur and Cable Lakes consists of massive to finely banded pyrite and pyrrhotite. A
magnetometer and VLF survey completed in 2012 found this area to have a coincident magnetic and
EM anomaly. However, very little work has been completed here.
A total of 23 grab samples were collected from outcrop over these two areas. Samples were then
submitted to ActLabs in Timmins with gold analyzed by fire assay with a multi-element suite analyzed
using an aqua regia digest followed by ICP-OES. Samples were observed to be mainly of sulphide
bearing quartz veins and mafic volcanics. Massive sulphide samples were also collected in the Sulphur
Lake area.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4750/171617_9ae652eaa4fda821_002full.jpg
Big Duck Lake Claims
The most positive results were found in the North Gold area. Selected sample results are as follows:
Sample Number
Area
Au g/t
Ag ppm
Cu ppm
Zn ppm
951102
North Gold
0.187
0.6
170
70
951103
North Gold
2.6
3.1
428
1040
951104
North Gold
0.25
0.4
180
90
Grab samples are selective in nature and further work will need to be carried out to confirm
mineralization.
The program above was carried out by a professional geologist who was not available to CBLT at the
time of reviewing the data and preparing this press release. Jessica Daniel, P.Geo supervised the
program as it was being carried out, saw pictures and videos taken in the field, and has ensured the
integrity of the data reported above. The technical information contained in this news release has been
reviewed and approved by Ms. Daniel, an independent director of CBLT, who is a Qualified Person as
defined in
NI 43-101.
CONTACT INFORMATION
Peter M. Clausi
CEO and Director
1 416 890 1232
@ClausiPeter
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.
This news release contains 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 Ciscom Corp. leadership team; shareholder and
regulatory approvals; 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 obligations, 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 restrictions
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.
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https://www.newsfilecorp.com/release/171617