On October 16, 2024, CBLT Inc. (TSXV: CBLT) announced the commencement of a Phase 2 work program on the Falcon Gold Property in Sudbury, Ontario. Situated on 100% owned patented mining claims, the Property includes the past producing Falcon Gold Mine and is adjacent to CBLT’s Copper Prince Property.
The Phase 2 program at the Property consists of a mechanized stripping program to follow up on grab samples collected in a previous field season. These samples showed gold values ranging from <0.005 g/t to 25.7 g/t. The program, currently underway, aims to enhance the understanding of the geological controls at the Property. The results of Phase 1 sampling from the Property were released in July 2024, with the highest assay result reaching 25.7 Au g/t. Phase 2 plans to locate and strip historical features such as trenches and dumps to facilitate further sampling and mapping. Prior to CBLT's ownership, gold mineralization was discovered on the Property in 1890, leading to subsequent exploration efforts by Falconbridge Ltd. The historical resource estimate from 1988 indicated possible resources on the Property, but no production records exist from the Falcon Gold Mine. The technical information in this release has been reviewed by a qualified person as defined by National Instrument 43-101. This news release may contain forward-looking statements related to CBLT and its management, subject to inherent risks and uncertainties. CBLT will disclose risk factors and assumptions associated with forward-looking statements as needed. Of note, CBLT's operations could be impacted by global contagious diseases, including COVID-19. The extent of the impact of such outbreaks on operations and financial viability is uncertain and dependent on various factors, including government restrictions and economic consequences. For more information, please refer to the original press release at: [source link].
