VANCOUVER, Aug. 2, 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 completed a hydrogeological survey on the Georgia Lake property. The investigations were 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 hydrogeological investigations help estimate the recharge of groundwater and the catchment areas, information important to define mining costs at the property. The data collected indicate that the drainage concept to be developed during mine planning should not pose special challenges. In addition to groundwater level measurements on existing boreholes, water permeability tests in boreholes using open systems were carried out. The derived transmissivities and hydraulic conductivities show low permeabilities which should not cause any major disruption to the intended type of mining drainage. The work supported the results of the hydrogeological work performed on the property in the late 1950's and during 2010/2011 when Rock Tech commissioned baseline ecological and water balance studies for the purpose of the permission process for future advanced exploration on the Georgia Lake lithium property.
"Valuable data and preparations have already been identified for current and subsequent feasibility studies and environmental impact assessments," said Martin Stephan, Rock Tech's CEO. "Thus, further hydraulic field trials and studies on the groundwater conditions are planned to support and expand on the hydrogeological findings that have now been developed."
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 787, an independent Qualified Person to Rock Tech.
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: 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]