CBLT Provides Update on Investee Ciscom Corp. and Resumption of Shatford Lake Exploration for Lithium

CBLT Inc.is providing an update on its Shatford Lake lithium exploration program and on the recent acquisition effected by its investee Ciscom Corp.

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.

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.

Tags: Northern Ontario / Exploration / Metals / All Articles