◥ CHILTON COBALT

Lanaudière Region
Québec, Canada

◥ JURISDICTION

The Chilton Cobalt asset located in Lanaudière Region, Québec and has nickel-copper-cobalt-chromium potential and provides an opportunity to contribute to meeting the increasing demand of today’s rising green economy.

  • Québec is ranked 6th in Investment Attractiveness index and 5th in Policy Perception in the Fraser Institute’s Annual Survey of Mining Companies, 2021

  • The Canada 2022 Federal Budget proposed an introduction of "Super Flow-Through Taxes," adding an additional 30% critical mineral exploration flow through tax credit for specialized mineral exploration expenses incurred in Canada, for critical metals, including cobalt, copper and nickel

  • One fifth of Canada’s mining output comes from Québec

◥ PROJECT HIGHLIGHTS

  • Located in the Grenville Province of Québec, 40 kilometers east of Saint Jovite in the Laurentian region of Québec.

    It covers 496.4 hectares over nine claims.

  • In 2017, CBLT Inc. carried out a survey and extensive soil sampling to define two large nickel-copper-cobalt-chromium areas.

  • Mineral showings are surrounded by Co-Cr-Cu-Ni soil geochemical anomalies.

  • Recent soil sampling at Chilton obtained cobalt values ranging from 82 to 953 ppm Co.

  • Drill-ready with several targets identified.

◥ PROJECT HISTORY

  • Exploration of the Property has begun in the mid-1950s

  • Several drillholes were executed on different parts of the Property to test geophysical anomalies and promising outcrops and showings (1955 up until 1959, Continental Mines Ltd. and Laurentian Titanium Mines Ltd. performed five (5) and sixteen (16) diamond drill holes totaling 377 m and 1891 m, respectively (GM 28834))

  • A total of four (4) cobalt-copper-nickel showings are documented on the spatial reference geomining information system of the MERN (SC-95-02, Chilton showing, Lac Sicotte showing, and Lac du Marcheur showing)

PROSPECTING, MAPPING, SAMPLING (ROCK AND SOIL) & TRENCHING

  • In 2017, CBLT carried out a prospecting and outcrop sampling program and the completion of a soil geochemical survey that included 649 samples to complete a grid on the major part of the Property

  • A rock geological survey also occurred, where 51 rock samples were taken. Almost the entirety of them was taken through the grid made by soil samples. Cobalt-in-soil anomalous values are spatially coincident with the Chilton and Lac Sicotte mineral showings with grades ranging between nil and 238 ppm Co (Fekete, 2017b)

  • Lac Sicotte showing was worked with three (3) trenches executed in 2018: According to the data given by CBLT, different samples have grades that go from 7 up to 2,170 ppm Co, 21 to 5,610 ppm Ni and 5 to 17,200 ppm Cu. (1)

◥ RECENT EXPLORATION

SAMPLING

GEOPHYSICAL SURVEYS

  • A 27-line-kilometer VLF-EM survey occurred in 2017 with a total of 1088 data points

  • In 2018, a 58.43 line kilometer airborne magnetic survey was performed by Pioneer Aerial Surveys Ltd. to outline any magnetic structures that could be prospective for Co-Cu-Ni mineralization

  • A diamond drilling campaign in September 2022 included a total of three (3) holes and 230.30 meters of cores

  • 45 samples were assayed at SGS Canada Laboratory (Québec, CA)

  • The highest values are located in drillhole CC-22-01 between 42.40 and 43.05 m in depth grading 273 ppm Co, 319 ppm Cu, and 675 ppm Ni

◥ DRILL CAMPAIGN

(1) On a map provided by CBLT Inc. is shown a high value in copper of 10,200 ppm Cu. In a personal communication, it is mentioned by M. Fekete P.Geo., that the results included two samples with 1.02% and 1.72% Cu (17,200 ppm Cu) (M., Fekete, personal communication, December 11, 2018). Note that the laboratory certificates weren’t available to the authors at the time of writing the technical report.

◥ NI 43-101 TECHNICAL REPORT

In 2022, Powerstone commissioned Goldminds Geoservices Inc. to prepare a NI 43-101 compliant Technical Report for the Chilton Cobalt Property. The report was prepared by Merouane Rachidi P.Geo. and Maude Marquis Eng. and was issued on December 28th, 2022.

The Technical Report is available on SEDAR or can be downloaded here.