VANCOUVER, Aug. 7, 2018 /CNW/ - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") [TSX-V: RCK; Frankfurt: RJIB (WKN: A1XF0V)] is pleased to announce that it has collected samples for Uniaxial Compressive Strength ("UCS") testwork. The UCS tests are being conducted by DMT GmbH & Co. KG ("DMT") as part of its work on the first-ever Preliminary Economic Assessment ("PEA") at Rock Tech's flagship, 100%-owned Georgia Lake lithium property in the Thunder Bay Mining District of Northwest Ontario, Canada.
The UCS tests will assess the ability of cylindrical intact rock core specimens to withstand loads and resist deformation or fracture. Compressive strength is a key value for the design of open pits and underground mines.
Twelve (12) cylindrical samples from Rock Tech's drill core, together with two (2) rock samples of pegmatite from the field, were collected and have been sent to the certified lab of DMT's mining engineering department where the UCS tests will be carried out.
"The UCS tests conducted on drill core and rock samples from our Georgia Lake lithium property will provide valuable data for the technical calculation of pit slopes and openings in the underground," said Martin Stephan, Rock Tech's CEO.
The ongoing preliminary economic assessment is based on the updated and upgraded resource estimate announced on June 27, 2018. The updated and upgraded resource estimate included the following:
- Measured: 1.89 million tonnes grading 1.04% lithium oxide ("Li2O");
- Indicated: 4.68 million tonnes grading 1.00% Li2O;
- Inferred: 6.72 million tonnes grading 1.16% Li2O.
All scientific and technical information in this news release was reviewed and prepared under the supervision of Karl-Stephan Peters, EurGeol 877 an independent Qualified Person to Rock Tech.
Additionally, Rock Tech is granting 1.52 million stock options to employees, directors and consultants. The stock options have an exercise price of $0.88 and expire on August 5, 2022.
About DMT GmbH & Co. KG
DMT is a global consortium, providing interdisciplinary services in the Mining, Oil & Gas, Civil Engineering & Infrastructure and Plant Engineering markets with a client roster that includes Anglo American, BHP Billiton, OMV, E.ON, Schlumberger, De Beers and leading institutes such as The World Bank and the Asian Development Bank. DMT occupies 30 offices worldwide and belongs to the German certification agency TÜV NORD GROUP. To date, DMT has completed several thousand projects in over 150 countries, working in over 25 countries in a typical year.
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. The Georgia Lake Lithium project aims to develop a lithium-rich pegmatite vein deposit for the purpose of mining. The deposit was discovered in the Thunder Bay Mining district in northwestern Ontario/Canada, close to the Lake Superior, as early as 1955. Rock Tech Lithium has been working increasingly on the property since 2016 – in a market environment, where the trend for electric cars on the international market has been rising steeply for years. Analysts expect that more than 25% of newly sold cars in 2025 will be electrified, with the demand for batteries and therefore battery metals such as lithium expanding rapidly.
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: please contact: Rock Tech Lithium Inc.: Brad Barnett: [email protected], Chief Financial Officer, Telephone: (778) 358-5200; Renmark Financial Communications Inc.: Laura Welsh: [email protected], Tel: (416) 644-2020 or (514) 939-3989, www.renmarkfinancial.com