VANCOUVER, May 30, 2017 /CNW/ - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") (TSX-V: RCK; Frankfurt: RJIB) is pleased to announce that drilling has been completed 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, Rock Tech's Chief Executive Officer, commented, "We are excited to announce the completion of the first phase of the winter drill program, following up on the excellent results achieved during the channel sampling program. These drill holes, targeting the Parole Lake pegmatite, will help us confirm historic data and provide valuable information about the orientation of the lithium-bearing pegmatite. High-grade assays from our channel sampling program demonstrated the growth potential of this area."
A total of seven (7) drill holes totalling 1,382 metres was completed on the Parole Lake pegmatite. These drill holes were designed to confirm historic results, assist in modelling the orientation of the pegmatite and provide a more robust understanding of its potential.
The results from the channel program confirmed 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, provided a better understanding of the geometry of the lithium-bearing pegmatite and were an integral part of planning these drill holes.
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.
Drilling was completed by Major Drilling Group International Inc., one of the world's largest drilling services companies, and the drill hole samples have been submitted to, and will be 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]