CBLT Provides Update on Investee Ciscom Corp. and Resumption of Shatford Lake Exploration for Lithium
September 9, 2021 (Source) — 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”).
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.
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.
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.
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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