VANCOUVER, BC, June 30, 2022 /CNW/ - Rock Tech Lithium Inc. (TSX-V: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce the latest assay results from the Company's ongoing drill program (the "Drill Program") at its 100%-owned Georgia Lake lithium project in the Thunder Bay Mining District of Ontario (the "Georgia Lake Project").
Figure 2. Map showing location of MZN, Conway, MZSW, Line 60 and Harricana Spodumene Pegmatite (CNW Group/Rock Tech Lithium Inc.)
Figure 3. Long-section showing Lithium grade based on previous and current (2021-2022) drill hole composites at the Southern Pegmatite System of the MZN deposit. (CNW Group/Rock Tech Lithium Inc.)
Figure 4. Long-section showing Lithium grade based on previous and current (2021-2022) drill hole composites at the Northern Pegmatite System of the MZN deposit. (CNW Group/Rock Tech Lithium Inc.)
Figure 5.A. Spodumene bearing Lithium Pegmatite intersections in drill hole NC-21-20 (Core Interval from 194M to 211.5M) (CNW Group/Rock Tech Lithium Inc.)
Figure 5.B. Spodumene bearing Lithium Pegmatite intersections in drill hole NC-22-02 (Core Interval from 281.3 M To 298.5 M) (CNW Group/Rock Tech Lithium Inc.)
Figure 5.C. Spodumene bearing Lithium Pegmatite intersections in drill hole CON-22-16 (Core Interval from 141 M to 157.3 M) (CNW Group/Rock Tech Lithium Inc.)
Figure 5.D. Spodumene bearing Lithium Pegmatite intersections in drill hole HAR-22-01 (Core Interval from 17.6 M to 35 M) (CNW Group/Rock Tech Lithium Inc.)
Figure 6. Long-section showing Lithium grade based on previous and current (2021-2022) drill hole composites at Conway. (CNW Group/Rock Tech Lithium Inc.)
Rock Tech began the Drill Program in 2021 in support of an ongoing pre-feasibility study being conducted in respect of the Georgia Lake Project.. The current drilling results are from test drilling completed during the fall 2021 and winter 2022 portions of the Drill Program and will be included in the Georgia Lake Project pre-feasibility study. These results comprise the second of 3 batches of results from the winter 2021 and spring 2022 phase of the Drilling Program. Commenting on the Drill Program, Robert MacDonald, General Manager of the Georgia Lake Project, said, "Rock Tech is pleased with the progress of our Drill Program at our Georgia Lake Project. We are continuing to focus on completing a pre-feasibility study in respect of the Georgia Lake Project while concurrently pursuing project permitting."
The Georgia Lake Project, located between Nipigon and Beardmore, Ontario is comprised of 1,042 hectares of mineral leases and 5,686 hectares of mineral claims (see Figure 1). Since the start of the Drill Program in 2021, the Company has completed approximately 21,000 metres of diamond drilling that focused on five spodumene pegmatite deposits known as the Main Zone North ("MZN"), Conway, Main Zone Southwest ("MZSW"), Harricana and Line 60 (see Figure 2).
The objective of the Drill Program is to increase the confidence in the current mineral resource estimate in respect of the Georgia Lake Project and to upgrade the resource classification from predominantly inferred resources to predominantly indicated resources, as well as test potential extensions of the mineral resource down dip and along strike of the deposits. The assay results from the initial batch of core samples from the Drill Program were announced in a press release dated January 12, 2022.
KEY EXPLORATION HIGHLIGHTS
Thirty-six (36) NQ1 diamond drill holes totaling 11,604 metres were completed at the MZN deposit.
Thirty-five (35) NQ diamond drill holes totaling 5,943 metres were completed at Conway.
Sixteen (16) NQ diamond drill holes totaling 3,437 metres were completed at MZSW, Harricana and Line 60.
New significant results from the program included (all results listed below)
Main Zone North
NC-21-16 11.4m (true width) at 1.09% Li2O starting at 284.1m
NC-21-20 13.2m (true width) at 1.37% Li2O starting at 195.5m
NC-22-02 9.0m (true width) at 1.17% Li2O starting at 284.4m
Conway
CON-22-04 7.0m (true width) at 1.36% Li2O starting at 96.3m
CON-22-23 8.2m (true width) at 1.16% Li2O starting at 47.0m
The Drill Program extended mineralization along strike and down dip of MZN and Conway deposits (See below for details).
______________________________
1Note: Represents core samples of 47.6mm in diameter.
DETAILS ABOUT THE MAIN ZONE NORTH DRILLING
The MZN deposit contains multiple stacked pegmatite dikes that are grouped into the "Northern" and "Southern" pegmatite systems at MZN. Spodumene mineralization at MZN strikes at 235 degrees for over 1 km and dips 60 degrees to the northwest. At MZN, the Drill Program extended spodumene mineralization for 50 – 100 metres down dip of known pegmatites for about 300 metres along strike on the eastern side of the deposit (See Table 1 and Figure 3 to Figure 5)
DETAILS ABOUT THE CONWAY DRILLING
The Conway deposit hosts one main pegmatite dike with spodumene mineralization striking at 210 degrees for 800 metres and dips 70 degrees to the northwest. The 2021 – 2022 drilling at Conway extended spodumene mineralization for 100 metres along strike to the south, to the 75 metres level (See Table 2 and Figure 5 and Figure 6).
DETAILS ABOUT MAIN ZONE SOUTHWEST, HARRICANA, AND LINE 60
The MZSW deposit, located 1 km to southwest of MZN deposit, hosts three parallel – sub-parallel spodumene pegmatites that strike at 235 degrees for 300 metres, dipping 70 degrees to the northwest. The Harricana and Line 60 deposits are located 1 and 1.5 kms to the southeast of MZN deposit. Harricana contains two sub-parallel dikes, Harricana Main and Harricana West. Harricana Main strikes at 220 and dips 60 degrees to the northwest. Harricana West strikes at 220 and dips 60 degree to the northwest in the southern half of the dike; however, the orientation of the dike changes to strike of 140, dipping 60 degrees to the southwest, in the north. See Table 3 and Figure 5 for significant pegmatite intersections at MZSW and Harricana.
SAMPLING AND QAQC PROCEDURE
Samples were taken across every spodumene-bearing pegmatite and 1 metre into the barren host rock on either side of the dykes. Sample lengths were around 1 metre, though individual sample length was determined based on internal zoning of the dykes and the locations of their contacts. Core to be sampled was cut in half with one half being sent for analysis and the other half remaining in the box for reference. All core is stored at Rock Tech's core facility in Beardmore, Ontario. Each sample was put into its own plastic sample bag with a sample tag and closed with zip ties. About 13% of the samples submitted to Activation Laboratories Ltd. ("Actlabs") for analysis were QAQC samples that were inserted into the sample stream and consist of a high- and low-grade lithium standards, blank material, and duplicates. Samples were sent to Actlabs' preparation laboratories in Geraldton and Thunder Bay, Ontario for crushing and pulverizing, and were subsequently sent to Actlabs' geochemistry laboratory in Ancaster, Ontario for analysis of 41 elements using fusion plus ICP-OES or ICP-MS. Analysis for lithium was completed using a sodium peroxide fusion plus ICP-OES. Actlabs is independent of the Company.
SCIENTIFIC AND TECHNICAL DISCLOSURE
The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein, P.Geo., Chief Exploration Geologist of the Georgia Lake Project, a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects. Exploration data was collected and verified following the guidelines outlined in CIM Mineral Exploration Best Practice Guidelines.
ABOUT ROCK TECH LITHIUM INC.
Rock Tech Lithium Inc. is a cleantech company with operations in Canada and Germany that aims to supply the automotive industry with high quality, "made in Germany" lithium hydroxide. As early as 2024, Rock Tech intends to commission Europe's first lithium converter with a production capacity of 24,000 tonnes per year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.
Rock Tech owns the Georgia Lake Project in Ontario, Canada. The Company has set itself the goal of creating a closed loop for lithium, thus closing the raw material gap on the road to clean mobility. As early as 2030, around 50 percent of the raw materials used by Rock Tech are expected to come from the recycling of batteries.
Rock Tech Lithium Inc. - Powering the Battery Age www.rocktechlithium.com On behalf of the Board of Directors, Dirk Harbecke Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Concerning Forward-Looking Information
The following cautionary statements are in addition to all other cautionary statements and disclaimers contained elsewhere in, or referenced by, this press release.
Certain information set forth in this press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws, which are based on Rock Tech's current expectations, estimates, and assumptions in light of its experience and is perception of historical trends. All statements other than statements of historical facts may constitute forward-looking information. Often, forward-looking information can be identified by the use of words or phrases such as "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and all other indications of future tense. All forward-looking information set forth in this press release is expressly qualified in its entirety by the cautionary statements referred to in this section.
In particular, this new release contains forward-looking information pertaining to: statements regarding the Drill Program and the ongoing pre-feasibility study, including their objectives, results and the associated timing thereof; the Company's expectations regarding the Georgia Lake Project including statements regarding future plans, activities, and schedules relating to the property and related exploration and development activities; statements regarding the Company's plans with respect to its proposed lithium converter, including the timing and features thereof; statements and expectations regarding the electric vehicle industry; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects, and plans and objectives of management for the Company's operations and properties.
Forward-looking information contained in this press release is based on certain assumptions, estimates, expectations, analysis and opinions of the Company and in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made. Such assumptions, estimates and other factors include, among other things: that the Drill Program and ongoing pre-feasibility study will continue as currently planned, expected growth, performance and business operations, future commodity prices and exchange rates, prospects, growth opportunities and financing available to the Company, general business and economic conditions, results of development and exploration, Rock Tech's ability to procure supplies and other equipment necessary for its business. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions, estimates and factors to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information should not be read as a guarantee of future performance or results.
In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information. Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the Company's ability to access funding required to invest in available opportunities and projects and on satisfactory terms, the current and potential adverse impacts of the COVID-19 pandemic and recent geopolitical hostilities; the risk that Rock Tech will not be able to meet its financial obligations as they fall due, changes in commodity and other prices, Rock Tech's ability to attract and retain skilled staff and to secure feedstock from third party suppliers, unanticipated events and other difficulties related to construction, development and operation of the proposed Converter, the cost of compliance with current and future environmental and other laws and regulations, title defects, competition from existing and new competitors, changes in currency, exchange rates and market prices of Rock Tech's securities, Rock Tech's history of losses, impacts of climate change and other risks and uncertainties described from time to time in Rock Tech's public disclosure documents available on the Company's SEDAR profile at www.sedar.com, including those discussed under the heading "Risk Factors" in Rock Tech's most recently filed Management Discussion and Analysis and Annual Information Form, respectively. Such risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or achievements to vary materially from the forward-looking information.
We cannot assure you that actual events, results, performance and/or achievements will be consistent with the forward-looking information and management's assumptions may prove to be incorrect. Forward-looking information reflects Rock Tech management's views as at the date the information is created. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based.
Given these uncertainties, readers are cautioned not to rely on the forward-looking information set forth in this press release.
FIGURES AND TABLES
Table 1. Summary of Assay Results for Drill Holes Completed at the MZN Deposit in 2021 - 2022. GPS Locations are in UTM NAD83 Zone 16N. *Drill holes disclosed in press release issued on January 12, 2022.
Hole ID
Easting
Northing
Elevation (M)
Hole Length (M)
Azimuth
Dip
From (M)
To (M)
Length (M)
True Width (M)
Li2O %
NC-21-01
424666
5477905
371
425.8
140
-60
308.76
312.12
3.4
2.9
1.10
325.2
328.3
3.1
2.6
1.17
NC-21-02
424544
5477881
372
416.7
140
-60
No Significant Assay Results
NC-21-03
424545
5477880
372
377
140
-45
296.15
298.06
1.9
1.8
1.4
302.6
310
7.4
7
0.81
324.2
325.1
0.9
0.9
1.32
338.5
342.5
4.0
3.80
1.16
NC-21-04
424508
5477809
369
425.8
140
-60
317.15
318.45
1.3
1.1
0.95
321.86
324.35
2.5
2.2
1.31
327.55
328.06
0.5
0.4
1.03
330.54
334.25
3.7
3.2
0.99
NC-21-05
424411
5477813
369
508.1
140
-60
No Significant Assay Results
NC-21-06*
424618
5477854
371
349.6
137
-58
279.5
291.24
11.74
10.34
1.12
304.35
305.90
1.55
1.36
0.82
NC-21-07*
424618
5477853
371
392.3
137
-66
302.36
315.36
13.00
11.45
0.98
319.20
321.05
1.85
1.63
1.31
324.38
325.38
1.00
0.88
1.31
NC-21-08
425171
5477877
369
191.1
141
-49
44.9
46.85
1.95
1.8
1.10
70.26
73.2
2.94
2.8
0.97
155.1
156.7
1.6
1.5
1.18
NC-21-09*
425187
5478067
371
285.6
141
-52
186.15
198.80
12.65
10.22
1.18
NC-21-10
424928
5477963
369
398.4
141
-60
267.45
269.28
1.83
1.6
1.01
306.54
308.73
2.14
1.90
1.08
NC-21-11
424913
5477908
372
377
141
-61
317
321.3
4.3
3.77
0.6
NC-21-13
424882
5477943
372
395.3
141
-59
No Significant Assay Results
NC-21-14
424971
5478013
372
392.3
141
-60
293
297
4
3.51
1.01
306
309
3
2.63
1.31
NC-21-15
425004
5478076
371
428.8
141
-54
310.85
317.85
7
6.6
0.87
336.3
344.75
8.45
8
1.13
NC-21-16
425080
5478084
371
404.5
141
-50
284.1
295.82
11.72
11.4
1.09
NC-21-17
425080
5478084
371
380.1
134
-63
293.48
299.25
5.77
4.9
1.18
NC-21-18
425120
5478120
371
349.6
134
-52
268.6
269.8
1.2
1.1
1.26
272.84
276.82
3.98
3.8
0.92
302.25
302.88
0.63
0.6
1.19
306.71
309.23
2.52
2.4
0.84
NC-21-19
425216
5478018
374
230.7
133
-50
121.72
123.32
1.6
1.5
0.93
151.14
155
3.86
3.6
0.92
NC-21-20
425137
5478016
371
273.4
133
-49
195.5
209.4
13.9
13.20
1.37
NC-22-02
425044
5478030
371
328.3
141
-52
254.36
261.1
6.74
6.3
0.74
284.4
294
9.6
9
1.17
NC-22-03
425311
5477910
374
175.9
141
-50
65.28
71.4
6.12
5.8
1.01
NC-22-04
425195
5478147
370
392.3
134
-50
221.23
223.7
2.47
2.4
0.98
259.6
262.1
2.5
2.4
0.77
NC-22-05
424418
5477728
368
395.3
140
-65
Awaiting Assay Results
NC-22-06
424333
5477707
368
334.4
140
-65
No Significant Assay Results
NC-22-08
424541
5477881
372
377
135
-52
317.6
318.5
0.9
0.8
1.17
329.5
335.6
6.1
5.6
0.77
338.7
340.6
1.9
1.8
0.90
368
368.9
0.9
0.8
0.96
NC-22-09
425237
5478105
370
361.8
135
-50
181.1
182.4
1.3
1.2
0.95
NC-22-10
425279
5478063
365
326.7
135
-50
Awaiting Assay Results
NC-22-11
425149
5477793
371
163.7
135
-50
Awaiting Assay Results
NC-22-12
425218
5477815
372
143
135
-50
Awaiting Assay Results
NC-22-13
425225
5477702
367
163.7
136
-50
Awaiting Assay Results
NC-22-14
425263
5477845
368
170
135
-50
Awaiting Assay Results
NC-22-16
424716
5477951
369
386
135
-60
Awaiting Assay Results
NC-22-17
424737
5477431
376
203
135
-50
Awaiting Assay Results
NC-22-18
424657
5477374
375
200
135
-50
Awaiting Assay Results
NC-22-19
424762
5477319
375
200
135
-50
Awaiting Assay Results
NC-22-20
425165
5477981
366
281
138
-48
Awaiting Assay Results
Table 2. Summary of Assay Results for Drill Holes Completed at Conway Deposit in 2021 - 2022. GPS Locations are in UTM NAD83 Zone 16N.
Hole ID
Easting
Northing
Elevation
Hole Length (M)
Azimuth
Dip
From (M)
To (M)
Length (M)
True Width (M)
Li2O %
CON-21-02
427275
5478226
391
152
120
-53
114.4
120.4
6
4.8
1.04
CON-21-04
427236
5478240
386
206
120
-53
Awaiting Assay Results
CON-21-05
427199
5478262
373
260
120
-55
No Significant Assay Results
CON-21-07
427217
5478324
369
233
120
-51
No Significant Assay Results
CON-21-08
427217
5478324
369
275
120
-62
No Significant Assay Results
CON-21-09
427253
5478354
369
239
120
-50
197
199
2
1.7
0.85
CON-22-02
427250
5478351
369
272
115
-59
No Significant Assay Results
CON-22-03
427311
5478386
369
221
115
-54
169.8
171.7
1.9
1.6
0.88
CON-22-04
427384
5478376
379
119
115
-53
96.3
105
8.7
7
1.36
INCLUDES
2.7
-
2.02
CON-22-05
427341
5478368
378
170
115
-52
128.8
136
7.2
6
0.92
CON-22-06
427394
5478476
368
170
115
-59
79.7
81.7
2
1.6
0.91
CON-22-07
427394
5478477
368
195
115
-71
124.8
126.8
2
1.2
0.91
CON-22-08
427431
5478455
369
131
115
-59
19.5
22.2
2.7
2.1
0.69
105.6
108.6
3
2.3
0.68
CON-22-09
427466
5478434
370
68
115
-56
52.5
57.1
4.6
3.8
0.79
CON-22-10
427474
5478527
369
101
115
-49
11.1
12.6
1.5
1.3
1
CON-22-12
427499
5478556
368
110
115
-55
No Significant Assay Results
CON-22-13
427440
5478590
368
185
115
-53
103.2
104.4
1.2
1
1.39
CON-22-14
427415
5478560
368
179
115
-47
91.1
92
0.9
0.8
0.76
CON-22-15
427375
5478526
368
197
115
-51
147.1
151.6
4.5
3.7
0.85
CON-22-16
427347
5478409
369
176
115
-53
88.95
89.9
0.95
0.8
1.09
143.8
148
4.2
3.5
1.46
CON-22-17
427311
5478423
368
227
115
-62
No Significant Assay Results
CON-22-18
427165
5478115
375
197
115
-47
167.1
168.8
1.7
1.5
0.64
CON-22-19
427180
5478196
373
230
115
-57
No Significant Assay Results
CON-22-20
427135
5478025
368
224
118
-55
No Significant Assay Results
CON-22-21
427181
5478200
378
195
115
-46
174
175
1
0.8
0.86
CON-22-22
427138
5477987
356
200
118
-53
No Significant Assay Results
CON-22-23
427243
5477971
390
89
118
-45
47
56
9
8.2
1.16
CON-22-24
427241
5477890
383
62
118
-52
37
41
4
3.4
1.04
CON-22-25
427157
5477928
369
151
118
-51
No Significant Assay Results
CON-22-26
427207
5477948
380
122
118
-50
80
86.1
6.1
5.5
1.11
CON-22-27
427230
5478051
380
110
118
-50
Awaiting Assay Results
CON-22-28
427219
5477834
391
87
120
-45
Awaiting Assay Results
CON-22-29
427166
5477831
385
127.7
120
-50
No Significant Assay Results
CON-22-30
427167
5477783
381
131
120
-48
Awaiting Assay Results
CON-22-32
427313
5478258
393
131
118
-51
Awaiting Assay Results
Table 3. Summary of Assay Results for Drill Holes Completed at MZSW, Harricana, and Line 60 deposits in 2021 - 2022. GPS Locations are in UTM NAD83 Zone 16N.
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