OTTO LAKE

• SOIL CHEM REPORT

• 2011 GEOLOGIC REPORT
• OGS AREA GEOLOGY MAP
• Site Visit June 2017

 

CBLT acquired 100% of the Otto Lake property in February, 2017. It consists of 33 mining units over 4 claim blocks. Otto Lake is roughly eight kilometres southwest of Kirkland Lake, close to the former producing Swastika Mine, Ontario's first producing gold mine (1907). Infrastructure is readily available and the property can be directly accessed off the TransCanada Highway through Swastika.

Historic work has included prospecting, line cutting, limited diamond drilling, VLF and magnetic surveys, mapping, trenching and soil sampling. Some of the third party results are available, but CBLT cannot speak to the accuracy or thoroughness of historic work without further research and analysis.

The claims are on “Special Status” with Ontario’s Ministry of Northern Development and Mines pending the resolution of an exploration permit application, submitted by a prior owner. CBLT is confident that its team will be able to move the claims to exploration.

A 2012 soil chemistry report shows interesting anomalies which are in CBLT’s opinion highly prospective for gold, palladium, copper, zinc, nickel and lead.

In 2017 the Kirkland Lake District Geologist’s Office collected 11 samples from Otto Lake. The results of those samples were made available to CBLT, and are provided in Table 2 below.

Particularly exciting to CBLT is the new discovery evidenced from a sample collected from a sulphide-bearing metasediment which returned 2.31 g/t gold, in an area with no known historical work having been completed. CBLT plans to carry out a follow-up work program as soon as possible to evaluate this new discovery.

 

Table 2: Otto Lake Grab Samples

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Sample Number	Au (g/t)	Pd (ppb)	Pt (ppb)
17-0234-0001	0.002	1.65	1.18
17-0234-0002	0.016	10.06	10.32
17-0234-0006	0.002	<0.14	0.36
17-0234-0007	0.006	0.78	2.01
17-0234-0008	0.015	<0.14	<0.06
17-0234-0010	2.314	<0.14	0.23
17-0234-0011	0.031	<0.14	0.17
17-0234-0012	0.004	2.13	2.8
17-0234-0013	0.002	0.75	0.45
17-0234-0014	0.008	1.53	0.75
17-0234-0015	0.017	11.19	11.44

All grab samples collected by the OGS were selective in nature, and the reported mineralization may not be representative. These analyses were conducted by the Geoscience Laboratories, an ISO 9001 certified laboratory. This press release was drafted under the supervision of Joerg Kleinboeck, P.Geo, who is the Qualified Person in accordance with NI43-101.

“CBLT, like all mining companies in Ontario, is deeply grateful for the consistent high quality of work provided by OGS and its geologists,” said Peter M. Clausi, CBLT's CEO. “We all benefit from their dedication, willingness to help, and innovation of thought. The OGS is a perfect example of a government program working the way it was designed.”