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CBLT Inc.
Summary
| Project: | Northshore | |
|---|---|---|
| Deposit: | Northshore | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 2/26/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-2-2019: CBLT Inc. announces an Exploration/Drilling Update report for its Northshore deposit at the Northshore project. Drilling results incl. 124.50m @ 1.05g/t Au from 190.50m. GTA Resources and Mining Inc. ("GTA") carried out the Program while it was | |
| Resources: | x | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | GTA Resources and Mining Inc. ("GTA") carried out the Program while it was negotiating with various parties for the sale of all its mining assets. GTA and CBLT entered into an agreement whereby CBLT would purchase all of GTA's mining assets, including GTA's 54% joint venture interest in Northshore Gold. That transaction has received the necessary shareholder and board approvals, and is subject to approval from the TSX Venture Exchange. These assay results have no impact on the terms of that agreement. On February 25, 2019, GTA and its joint venture partner Balmoral Resources Ltd. released assay results from the Program. CBLT did not plan or perform any of the work related to the Program and was not involved in any of the QA/QC. The text below related to the Program is largely taken from GTA's press release. The Program included two long holes that tested the Afric Gold Deposit beneath the previously outlined resource. They successfully expanded the Deposit, leaving it open for additional delineation at depth, in particular to the east and northeast. The Afric Gold Deposit continues to demonstrate significant widths to depth highlighted by an intercept of 124.50 metres grading 1.05 g/t gold (0.86 g/t gold "cut") in hole WB-18-54. As with previous drilling this broad mineralized envelope includes a high grade core, which returned 7.00 metres grading 11.15 g/t gold (7.65 g/t gold "cut"), including 1.00 metre grading 56.50 g/t gold. This intercept extends the high grade core of the Afric Gold Deposit by approximately 125 vertical metres in the area tested, to a little over 250 vertical metres depth, and appears to support a northeast plunge to the high grade gold mineralization. | |
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