CBLT Announces Assay Results from Shatford Lake (Lithium)
CBLT ANNOUNCES ASSAY RESULTS FROM SHATFORD LAKE (LITHIUM)
(Burlington, ON. July 31, 2023) CBLT Inc. (CBLT: TSX-V) (“CBLT”) is pleased to announce
excerpts from the assay results from samples taken at Shatford Lake in May, 2023.
Sample # Li Nb Rb Ta
ppm ppm ppm ppm
4554 84 25 167 5.5
4555 <10 36 205 5.8
4556 32 15 163 2
4557 44 18 90 2.4
4558 <10 13 764 3.1
4559 <10 55 100 16.7
4560 <10 8 491 2.2
4561 <10 7 1680 0.9
4562 <10 10 1130 5
4563 <10 11 1470 1
A total of ten gra b samples were collected during the most recent site visit from pegmatite
outcrops along the southern shore of Sha tford Lake. Rubidium is enriched in most of the recent
samples, which could indicate a high degree of fractionation in the pegmati tes and be u sed as a
vector towards lithium or other rare element mineralization.
A continuation of east-west striking pegmatites was observed south of Shatford Lake as
determined by prospecting, mapping and sampling. Continuation of the larger evolved pegmatite
(detailed in CB LT’s February 13, 2023 press release ) occurs up to 500 m eters west of the
shoreline occurrence in at least two 1 to 5 meter wide vein sets (map below) . These vein
extensions are megacrystic microcline quartz pegmatites and are petro graphically s imilar to
evolved haloes in the high grade LCT pegmatites seen at the Tanco mine and other LCT deposits
in the region. These vein extensions also contain local spectacular mica series mineralization
from black biotite to phlogopite, chrome mica to spectacular muscovite series.
Pegmatite occurrences thus far sampled in CBLT’s claims contain anomalous tin, tantalum, and
rubidium with local anomalous lithium. CBLT is highly encouraged b y these multi-element
anomalies.
Shatford Lake and t he general pegmatite area are located in the Bird River Pegmatite Field in
Manitoba, three kilometers south -southwest of the Tanco Mine . CBLT recognizes the
significance and importance of Sagkeeng First Nat ion’s Traditional Land Rights in the area, and
openly welcomes continued engagement with the Sagkeeng Chief and Council . CBLT has
collaborated with the Province of M anitoba’s Agriculture and Resource Development and the
University of Manitoba to coordinate other ge oscientific assistance, wit h assistance p rocured
from a Ph.D. level program graduate.
Location of Shatford Lake and proximity to Tanco Mine
The 2023 Program
The pegmatite sampled at the southeast of Shatford Lake is sub-vertical in dip and subparallel in
strike to the evolved LCT pegmatites located at the Tanco Mi ne. Shatford pegmatite field
assemblages are generally steep in dip, possibly due to insertion along favorable tensile locations
that are along axial limbs in relation to the Tanco are a. The steeper dip equivalent to Shatford
Lake may be represented by the LCT pegmatite field located 20 kilometers to the nort h near Cat
Lake.
The main larger pegma tite should see additional work in upcoming site visits to properly
delineate the fullest p ossible strike length in surface exposure. Numerous affiliated pegmatites
near this occurrence should also be sampled in future visits. The vein sets are open to the east
and west of the sampled locations on the claims.
Sample locations May 2023, southeast Shatford Lake
The proximity to the Tanco Mine is important to CBL T. The Tanco Mine hosts an LCT -type
pegmatite, prod ucing ces ium and tantalum. Li thium, be ryllium an d rubidium have previously
been produced. The Tanco pegmatite has dimensions of 820m by 1,600m and up to 100m thick ,
and over 100 minerals have been identified in it. It was reported by The Northern Miner in April,
2022 that lithium production had resumed at the Tanco. The Northern Miner is a credible source
of mining -related news; however, as the Tanco owner is a Chinese c ompany, there is limited
reliable public information available.
The Shatford Lake claims contain a number of pegmati te granite fields within mafic volcanic
assemblages which are often exposed as higher topog raphic lineaments in the Shatford area and
also throughout the Bird River/Winnipeg Ri ver region. The regional geology indicates the
presence of a similar structural emplacement and extensional structural environment for
emplacement of LCT-bearing pegmatites in many locations including Shatford Lake.
The potential for more prolific LCT styl e pegmatites is commonly found near favo urable
structural environments along these mafic-granitic contacts. The Tanco pegmatite itself is hosted
by a large massive amphibol ite and possible mafic intrusive protolith that likely offered
favorable tensile con ditions during LCT evolution and insertion into the region’s country rock
masses. Further investigations of CBLT’s claims are warranted to explore for additional evolved
pegmatite fields given the proximity to the Tanco Mine.
It was estimated in 1991 that Tanco had lithium reserves of 7.3 million tonnes at 2.76% Li 2O
(GSWA Mining Bulletin No. 22, page 66). This is a hi storical third-party estimate and CBLT has
no information as to the methodology used to calculate this estimate or whether it was carried out
under the supervision of a Qu alified Pe rson, as that ter m is def ined in NI43-101. Readers are
cautioned not to rely upon this estimate.
Samples were analyzed by AGAT Labs in Mississauga, Ontario , an indepen dent accredited lab,
by sodium peroxide fusion with an ICP -OES or ICP-MS finish. Samples were analysed for 57
elements. Readers are cautioned that surface samples are random by nature and may not
accurately reflect the entirety of the mineralization at Shatford Lake.
Jessica Daniel, P.Geo., a CBLT independent director, is overseeing the Shatford Lake programs
and is the Qualified Person under NI43-101 for this press release.
CONTACT INFORMATION
Peter M. Clausi
CEO and Director
1 416 890 1232
@ClausiPeter
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statements. Th e futur e o utcomes tha t relate to forward -looking statements may be inf luenced by many factors,
including but not limited to; SARS-CoV-2; rel iance on key per sonnel; the perf ormance of the Ciscom Co rp.
leadership team; shareholder and regulatory approvals; the ability of Powerstone’s team to receive a receipt for its
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communities; jurisdictional r isk; risks o f fut ure legal proceedings; income tax matters; availability and terms of
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phenomena; rising costs relat ed to i nflation; effect of m arket intere st on price of securities; failing to i dentify an
economically viable mineral deposit; and, potential dilution.
CBLT’s operati ons could be sig nificantly adversely affecte d by the effects of a widespread global outbre ak of a
contagious disease, including th e recent outbreak of illness caused by COVID-19. It is not possible to accurately
predict the impact C OVID-19 will have on ope rations and the ability of others to meet th eir obligations, including
uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease , the duration of the
outbreak, and the length of travel and qu arantine restrictions im posed by governm ents of affected countries. In
addition, a s ignificant outbreak of contagi ous diseases in th e human po pulation could result in a widespread health
crisis that could adversely affect the economies and financial markets of m any countries, res ulting in an eco nomic
downturn that could further affect operations and the ability to finance its operations.