VANCOUVER, July 26, 2017 /CNW/ - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") (TSX-V: RCK; Frankfurt: RJIB) is pleased to announce the commencement of a field sampling program in the Parole Lake area of 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, "The Parole Lake region of the Georgia Lake lithium property hosts at least six lithium-bearing pegmatites and represents an exciting area for growth. We recently completed seven drill holes on one of the lithium-bearing pegmatites in this region, with one of the drill holes intersecting 11.65 metres with an average grade of 1.53% lithium oxide (see company press release dated June 29, 2017). This drill program successfully followed up the channel sampling program which showed lithium oxide mineralization up to 2.69% on surface (see company press release dated May 3, 2017). The field program now underway will be aimed at sampling the other known lithium-bearing pegmatites while searching for new, previously undiscovered or unreported pegmatite dykes."
Parole Lake Region
The Parole Lake region of the Georgia Lake lithium property hosts at least six lithium-bearing pegmatites. One of them, the Parole Lake No. 4, was the site of recent drilling and channeling and 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 recent channel program confirmed the presence of high-grade lithium mineralization on surface with a sample showing an average grade of 1.89% Li2O over 4.22 metres, including 2.69% Li2O over 1.03 metres. The recently completed drill program, with one intersection averaging 1.53% Li2O over 11.65 metres, confirmed lithium mineralization at depth, provided a better understanding of the geometry of the lithium-bearing pegmatite and will greatly enhance the efficacy of future drill programs.
Any samples collected during the field program will be submitted to and 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: [email protected]