Results Confirm Further Presence of High-Grade (up to 4.42%) Lithium Oxide Mineralization, Forming the Basis for Follow-up Exploration Work
VANCOUVER, May 24, 2017 /CNW/ - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") (TSX-V: RCK; Frankfurt: RJIB) is pleased to announce the completion of the prospecting and channel sampling program at its 100%-owned Georgia Lake lithium property in the Thunder Bay Mining District of Northwest Ontario, Canada.
Martin Stephan, Chief Executive Officer of Rock Tech, commented, "We are very pleased to announce the completion of the prospecting and channel sampling program. This program was highlighted by the new discovery made near the main resource area of the property as well as several high-grade lithium assays from the channel sampling program extending the length and width of the lithium-bearing pegmatites included in our resource model." Mr. Stephan continued, "Furthermore, channel sample assays from the Parole Lake and Aumacho areas, pegmatites not included in our NI 43-101 resource estimate, included 2.50%, 2.69% and 4.42% lithium oxide and clearly demonstrate the growth potential of this property."
Nama Creek Main Resource Zone
With respect to the main resource zone, commonly referred to as the Nama Creek area, a previously unknown pegmatite was discovered during the prospecting program. Grab samples taken from this newly discovered pegmatite returned lithium oxide values of 1.81%, 1.59% and 1.01%. These grab samples are a clear reminder that despite extensive exploration work done in this region, much of the Georgia Lake pegmatite field remains underexplored. Additional grab samples from the Nama Creek area returned assays up to 2.82% lithium oxide. The map below shows the new discovery in relation to the main resource zone:
The map clearly shows the potential for growth as past drill holes outside of the main resource zone intersected lithium-bearing pegmatites and mapped pegmatites exist that have yet to be drill-tested. The grab samples showing a new lithium-bearing pegmatite, the presence of mapped pegmatites yet to be drilled and past drill holes intersecting lithium-bearing pegmatites are key areas for follow up exploration activities.
During the program, two (2) channels were cut on the outcropping portion of the Parole Lake pegmatite. The Parole Lake pegmatite has an historic resource estimate of 1.5 million tonnes grading 1.30% Li2O (Pye, 1965); however, the historical estimate does not use the categories set out in sections 1.2 and 1.3 of NI 43-101 and a Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. As a result, the Parole Lake pegmatite is not included in Rock Tech's NI 43-101 resource estimate.
The results from the channel program confirm the presence of high-grade lithium mineralization up to 2.69% Li2O, including 4.22 metres of 1.89% Li2O and 3.01 metres of 1.57% Li2O, provide a better understanding of the geometry of the lithium-bearing pegmatite and will greatly enhance the efficacy of future drill programs.
During the program, three (3) channels were cut in the Aumacho area. Based on drill information from 1955-1957, an historic resource estimate 776,074 tonnes grading 1.63% Li2O was delineated (The Northern Miner, 1957); however, the historical estimate does not use the categories set out in sections 1.2 and 1.3 of NI 43-101 and a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. As a result, the Aumacho pegmatites are not included in Rock Tech's NI 43-101 resource estimate.
The channel sample assay results from this area were the highest recorded during the program, up to 4.42% Li2O including 4.02 metres of 2.93% Li2O and 5.03 metres of 1.93% Li2O. The channel sample results confirmed the surface orientation of the pegmatites and provide much-needed information regarding the geometry of the pegmatites. This will greatly enhance the efficacy of follow-up drill testing.
In summary, the exploration program targeted nine (9) of the known lithium-bearing pegmatite occurrences and has expanded on the wealth of knowledge obtained through past exploration programs that led to the Company's National Instrument ("NI") 43-101 resource estimate. In total, four hundred sixty-three (463) channel samples and forty-seven (47) grab samples were collected and analyzed during the program. The purpose of the channels was to gain information on the location of the pegmatites on surface and to aid in drill targeting in the near future.
The channel samples were analyzed by Actlabs, an ISO 9001:2008 certified analytical laboratory located in Geraldton, Ontario.
All scientific and technical information in this news release concerning the Georgia Lake lithium property was reviewed and prepared under the supervision of Locke B. Goldsmith, P.Eng., P.Geo., an independent Qualified Person to Rock Tech.
About Rock Tech Lithium:
Rock Tech Lithium is an exploration company focused on acquiring and exploring properties in the field of lithium and other selected battery metals.
Rock Tech is the only exploration company in the Georgia Lake region with an NI 43-101 resource estimate. The resource estimate shows an indicated resource estimate of 3.19 million tonnes grading 1.10% lithium oxide in addition to an inferred resource estimate of 6.31 million tonnes grading 1.00% lithium oxide. Further, the Company has completed metallurgical testing on a bulk sample demonstrating the ability to produce both a high-grade spodumene concentrate and battery-grade lithium carbonate ("Li2CO3"). The spodumene-bearing pegmatites of the Georgia Lake area were originally discovered in 1955.
To view photos, videos and maps from the ongoing exploration program, please use the following link: http://rocktechlithium.com/ongoing-exploration-program/
On behalf of the Board of Directors of the Company,
Director, Chief Executive Officer
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.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward‐looking statements". Forward‐looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.
SOURCE Rock Tech Lithium Inc.
For further information: Brad Barnett, Chief Financial Officer, Rock Tech Lithium Inc., 777 Hornby Street, Suite 600, Vancouver, B.C., V6Z 1S4, Telephone: (778) 358-5200, Facsimile: (604) 670-0033, Email: firstname.lastname@example.org