CBLT Announces First Assays from Shatford Lake
CBLT ANNOUNCES FIRST ASSAYS FROM SHATFORD LAKE
(Burlington, ON. October 26, 2022) CBLT Inc. (CBLT: TSX-V) (“CBLT”) has received the first
assay results from its sampling and mapping program at Shatford Lake, in the Bird River
Pegmatite Field in southeast Manitoba. Shatford Lake’s close proximity to the Tanco Mine and
CBLT’s assay results from November 30, 2021 called for further exploration at Shatford. CBLT
recognizes the significance and importance of Sagkeeng First Nation’s Traditional Land Rights
in the area, and welcomes continued communication with the Sag keeng C hief, Council and
community for continued guidance.
The Tanco Mine is five kilometres from Shatford Lake. It is an LCT-type pegmatite, prod ucing
cesium and tantalum. Lithium , be ryllium an d rubidium have previously been produc ed. The
Tanco pegmatite has dimensions of 820m by 1,600m and up to 100m thick , and over 10 0
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 company, there is limited reliable public information available.
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.
CBLT references the Tanco’s historical resource esti mate to inform it s knowledge of the area
and to support its thesis for lithium exploration at Shatford Lake.
In the summer of 2022 CBLT’s field team took e leven samples from the “Main Pegmatite” on
the east side of S oftrock1, one of CBLT ’s contiguous claims. analysis was carried ou t on these
samples at an independent lab . The assay results re turned elevated values for tin, tantalum,
beryllium and rubinium . T he highest level for lithium return ed 578 pp m, the highest for
beryllium returned 9100 ppm, and th e highest for rubinium returned 2460 ppm . The full chart
with all values will be posted at the Company’s SEDAR page.
2022 sample locations
“We are pleased with this round of results f rom the Main Pegmatite, ” said Peter M . Clausi,
CBLT’s CEO. “The values above, the mapping and the ob servations from our fie ld team about
other unmapped pegmatites in the area all justify further exploration in this area.”
The Main Pegmatite from which these samples were taken contains megacrystic feldspar-quartz-
biotite with cassiterite, beryl, and trace columbite mineralization. It is at least 30 meters wide at
one location on the shore (the pink line in the picture above). Contacts illustrate sub -vertical to
flatter (-35 degree) dip to the north, indicating a minimal inferred strike length of approximately
100 meters. The Main Pegmatite is open to the east and west of the sampled locations. Various
other narrower pegmatite veins proximal to the main large beryl mineralized pegmatite were also
sampled.
Another round of samples were taken f rom outcrop near the Main Pegmatite and the Main
Pegmatite itself. These samples are being pr epared for shipment to an accredited analytical
laboratory for comprehensive geochemical analyses for LCT mineralization.
QA/QC
Samples were analyzed by AGAT Labs in Mississauga, Ontario , an indepen dent accredited lab,
by sodium peroxide fusion with an ICP-OES finish.
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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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that constitute forward-looking statements as they relate to CBLT and
its management. Forward-looking statements are not historical facts but represent managemen t's current expectation
of future events, and can be identified by words such as "believe", "e xpects", "will", "intends", "plans", "projects",
"anticipates", "estimat es", “should”, "c ontinues" and similar expressions. Although management believes that the
expectations represented in such forward-looking statements are reasonable, there can be no as surance that they will
prove to be correct or will come to pass.
By their nature, forwar d-looking statements include assumptions an d are subject to inherent risk s and uncertaintie s
that could cause act ual future results, conditions, actions or events to d iffer materially from those in t he forward-
looking statements. If and wh en forward-looking statements are set out in this new releas e, CBLT will also set out
the material risk fact ors or ass umptions use d to develop the forward -looking statements. Except as expressly
required by applicabl e securities law s, CBL T assumes no oblig ation to update o r revise any forward -looking
statements. Th e future outcomes that 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 te am; shareholder and regulatory approvals; F irst Nations and other local c ommunities; jurisdictional
risk; risks o f future legal proceedings; income tax matters; availa bility and terms of financing; d istribution of
securities; commodities p ricing; environmental issues; forest fires and other natural phenomena; rising costs related
to inflation; effect of m arket intere st on price of securities; failing to identify an econ omically v iable mineral
deposit; and, potential dilution.
CBLT’s operati ons could be sign ificantly adversely affected 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 possi ble to accurately
predict the impact C OVID-19 will have on ope rations and the a bility of others to meet their obligations, including
uncertainties relating to the ultimat e 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 governme nts 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 adv ersely affect the economies and financial markets of m any countries, res ulting in an econ omic
downturn that could further affect operations and the ability to finance its operations.