CBLT Provides Update on Investee Ciscom Corp. and Resumption of Shatford Lake Exploration for Lithium
CBLT Provides Update on Investee Ciscom
Corp. and Resumption of Shatford Lake
Exploration for Lithium
(Burlington, Ontario--(Newsfile Corp. - September 9, 2021) - CBLT Inc. (TSXV: CBLT ) ("CBLT")
provides an update on its Shatford Lake lithium exploration program and on the recent acquisition
effected by its investee Ciscom Corp. ("Ciscom").
Shatford Lake
The Shatford Lake Property (the "Property") is located in the Bird River Pegmatite Field, Manitoba.
Given its proximity to the Tanco Mine and the historical records from previous programs, management
believes the Property is prospective for lithium, tantalum, beryllium, cesium and rubidium.
Forest fires in Manitoba delayed CBLT's summer 2021 program. CBLT's consulting structural geologist
advised he recently re-visited the Property to take samples from a variety of pegmatites at Prospect Site
1, located west of Shatford Lake (see map below). He also advised that a North-South swamp bounding
Prospect Site 1 to the east appears to represent a fault or structural break (see the yellow dotted line on
the map below). He noted evolved albitic pegmatites occur along this structural break, with contact
brecciation and intercalated mafic volcanics.
Sample Map
To view an enhanced version of this graphic, please visit:
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Brown - Microcline Pegmatite +/- albite
Pink - Albite Microcline Quartz Biotite Pegmatite
Management is encouraged by the program results to date. Assay results are pending. Further work will
be required to confirm his early observations.
The Tanco Mine is an LCT-type pegmatite, producing cesium and tantalum. Lithium, beryllium and
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 estimated in 1991 that Tanco had lithium reserves of 7.3 million tonnes at 2.76% Li2O (
GSWA
Mining Bulletin No. 22
, page 66). This is a historical 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 Qualified Person, as that term is defined in
NI43-101
. Readers are cautioned not to rely upon this
estimate. CBLT references this to inform its knowledge of the area and to support its thesis for lithium
exploration at Shatford Lake.
Ciscom
As instructed by the shareholders at the Shareholder Meeting held August 31, 2020, CBLT has been
exploring the diversification of CBLT's growth plan into other business areas, further to which it entered
into an option agreement with Ciscom on October 2, 2020. As previously disclosed, on February 26,
2021 CBLT exercised that option to purchase 4,965,116 common shares of Ciscom.
In addition to being a shareholder, CBLT has been assisting Ciscom with Ciscom's growth plans and
capital markets strategy. CBLT has been advised by Ciscom that Ciscom has acquired all the common
shares of Market Focus Direct Inc. ("MFD") of Markham, Ontario. As both Ciscom and MFD are
currently private companies, CBLT cannot disclose the particulars of the acquisition terms or of MFD's
financial information. However, Ciscom has advised it is in the process of becoming a reporting issuer,
and as part of such process the acquisition terms and MFD's financial information will be disclosed.
As a result of the acquisition, CBLT owns over 13% of Ciscom's issued and outstanding common
shares.
According to Ciscom, MFD was founded in 1991 and is a technology-driven organization that has
developed unique proprietary software applications which enable the efficient processing of big data. On
a day-to-day basis, MFD provides analytics, customer acquisition strategies, digital marketing, direct
mail, flyer distribution management, and related services to retailers and business-to-consumer
companies. MFD uses proprietary, sophisticated software applications to provide fully customized
marketing solutions to retail customers in a wide range of industries.
Its website is
www.marketfocusdirect.com
.
CONTACT INFORMATION
Peter M. Clausi
CEO and Director
1 416 890 1232
@ClausiPeter
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the 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
management's current expectation of future events, and can be identified by words such as "believe",
"expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "should", "continues" and
similar expressions. Although management believes that the expectations represented in such forward-
looking statements are reasonable, there can be no assurance that they will prove to be correct or will
come to pass.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and
uncertainties that could cause actual future results, conditions, actions or events to differ materially from
those in the forward-looking statements. If and when forward-looking statements are set out in this new
release, CBLT will also set out the material risk factors or assumptions used to develop the forward-
looking statements. Except as expressly required by applicable securities laws, CBLT assumes no
obligation to update or revise any forward-looking statements. The future outcomes that relate to
forward-looking statements may be influenced by many factors, including but not limited to; SARS-CoV-
2; reliance on key personnel; shareholder and regulatory approvals; First Nations and other local
communities; jurisdictional risk; risks of future legal proceedings; income tax matters; availability and
terms of financing; distribution of securities; commodities pricing; environmental issues; forest fires and
other natural phenomena; effect of market interest on price of securities; failing to identify an
economically viable mineral deposit; and, potential dilution.
CBLT's operations could be significantly adversely affected by the effects of a widespread global
outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not
possible to accurately predict the impact COVID-19 will have on operations and the ability of others to
meet their 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 quarantine restrictions
imposed by governments of affected countries. In addition, a significant outbreak of contagious
diseases in the human population could result in a widespread health crisis that could adversely affect
the economies and financial markets of many countries, resulting in an economic downturn that could
further affect operations and the ability to finance its operations.
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