GOWGANDA

In 2017 CBLT acquired five large unpatented claim blocks in the Gowganda-Cobalt region of north-eastern Ontario, totalling roughly 2,800 hectares. This region produced 60.1 million ounces of silver and 1.4 million pounds of cobalt between 1910 and 1989, representing 11% of the total silver and 6% of the total cobalt endowment of the Cobalt-Gowganda camp. This output came from ten separate mines, with the Miller-O’Brien mine in Nicol Township being the largest (production of 38.0-million ounces silver and 0.8-million pounds cobalt (Ontario Geological Survey, Open File Report 6318).

 

Gowganda is located 85 km northwest of the town of Cobalt and its world famous silver-cobalt camp, and roughly 120 km north of CBLT’s other cobalt assets in Sudbury, Ontario. Infrastructure is readily available in the region in the form of Highways 560 and 65 as well as several secondary roads.

 

The silver-cobalt deposits at Gowganda occur within fracture-fill type carbonate veins that include a wide variety of minerals containing combinations of cobalt-iron-nickel, arsenic-antimony-sulphur and minor amounts of chalcopyrite and galena. The veins occur within Nipissing Gabbro sills that have intruded Archean metavolcanic rocks which are unconformably overlain by flat-lying meta-sedimentary rocks of the Coleman Member of the Gowganda Formation. The veins tend to be vertical to sub-vertical, narrow and somewhat discontinuous, but very high-grade.

 

In January, 2018, CBLT sold one of these claim blocks for cash and equity to an Australian reporting issuer. That equity as of the end of March, 2018 has appreciated by roughly 500%, adding significant value to CBLT's balance sheet. The sale price of just that one asset is almost triple what CBLT paid for the entire portfolio.

 

CBLT also optioned two other of its Gowganda assets, which options call for minimum work commitments on CBLT's properties in 2018.

GOWGANDA

 

 

In 2017 CBLT acquired five large unpatented claim blocks in the Gowganda-Cobalt region of north-eastern Ontario, totalling roughly 2,800 hectares. This region produced 60.1 million ounces of silver and 1.4 million pounds of cobalt between 1910 and 1989, representing 11% of the total silver and 6% of the total cobalt endowment of the Cobalt-Gowganda camp. This output came from ten separate mines, with the Miller-O’Brien mine in Nicol Township being the largest (production of 38.0-million ounces silver and 0.8-million pounds cobalt (Ontario Geological Survey, Open File Report 6318).

 

Gowganda is located 85 km northwest of the town of Cobalt and its world famous silver-cobalt camp, and roughly 120 km north of CBLT’s other cobalt assets in Sudbury, Ontario. Infrastructure is readily available in the region in the form of Highways 560 and 65 as well as several secondary roads.

 

The silver-cobalt deposits at Gowganda occur within fracture-fill type carbonate veins that include a wide variety of minerals containing combinations of cobalt-iron-nickel, arsenic-antimony-sulphur and minor amounts of chalcopyrite and galena. The veins occur within Nipissing Gabbro sills that have intruded Archean metavolcanic rocks which are unconformably overlain by flat-lying meta-sedimentary rocks of the Coleman Member of the Gowganda Formation. The veins tend to be vertical to sub-vertical, narrow and somewhat discontinuous, but very high-grade.

 

In January, 2018, CBLT sold Bloom Lake for cash and equity to Winmar Resources Ltd. (WFE on the Australian Stock Exchange). That equity as of August, 2018 has appreciated by roughly 800%, adding significant value to CBLT's balance sheet.

 

In July, 2018 Winmar has announced a major transaction to acquire a cobalt / copper processing facility in the Congo, supported by an over-subscribed $8M financing. Winmar’s stock is halted pending a shareholder meeting to approve the acquisition and the financing. CBLT intends to vote its shares in favour of both, and has good reason to expect a continued bull run on Winmar’s stock.

 

In August, 2018, Winmar released results from a 33 sample program at Bloom Lake. The best sample was #853028, taken south of the No. 1 Adit, which assayed 6.84% cobalt, 0.422 g/t old, 0.58% copper and 1.56% nickel. See CBLT’s Aug 21/18 press release for the full table of samples.

 

CBLT also optioned two other of its Gowganda assets, which options call for minimum work commitments on CBLT's properties in 2018.