CBLT acquires historic Falcon gold mine

CBLT Inc. (TSXV: CBLT) purchased the former Falcon gold mine adjacent to its Copper Prince property along the Garson fault in Ontario’s Sudbury Basin. The Falcon property is sandwiched between CBLT’s three patented and its other unpatented Copper Prince claims.

The Falcon property has been explored intermittently since 1900. A 2005 report filed by Millstream Mines said over 850 metres of diamond drilling had been conducted there over time. CBTL said some of the historical data appears to be reliable, but there are gaps as some exploration was unrecorded. The company has been unable to find any production data associated with the property.

The Bailey report, compiled by Gordon Baily for Falconbridge and published in 1996, is perhaps the most reliable information. The report highlighted two pyrite-rich surface samples (50.47 and 53.21 g/t gold) and three pyrite-rich dump samples (33.60, 3833, and 40.46 g/t gold). The work and the report are not compliant with Ni 43-101.

Subject to the qualifications set out above, Bailey included a resource estimate at Falcon. In 1988, Falconbridge completed a 24-hole, 4,560-metre drill program which increased the mineral inventory of the Falcon deposit to 53,975 tonnes grading 7.75 g/t gold in a pyritiferous zone traced to a vertical depth of 180 metres with an average dimension of 3.35 by 30.5 metres.

CBLT intends to carry out a program of data aggregation, mapping, and sampling at Falcon this summer.

Although under construction at press time, the CBLT website is at www.CBLTinc.com.