VANCOUVER, Aug. 15, 2017 /CNW/ - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") (TSX-V: RCK; Frankfurt: RJIB) is pleased to provide an update on the field sampling program currently underway at its 100%-owned Georgia Lake lithium property in the Thunder Bay Mining District of Northwest Ontario, Canada.
This phase of the field program targeted the Aumacho and McVittie regions with the objective of sampling outcrops, locating historic drill collars and completing surveys for georeferencing.
The Aumacho region hosts at least three lithium-bearing pegmatites, two of which were targeted during the Company's recently completed drill program. While no outcrop was found related to the third lithium-bearing pegmatite during the field program, four (4) drill collars from the 1950's were located, providing modern coordinates for this pegmatite for the first time. Based on three (3) of these drill holes, a past operator in the 1950's calculated an historic resource estimate on this pegmatite of 87,090 tonnes with an average grade of 1.50% lithium oxide ("Li2O"). A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. As a result, the lithium-bearing pegmatites in this region are not included in Rock Tech's NI 43-101 resource estimate.
The McVittie region appears to host a stacked pegmatite system with at least three lithium-bearing pegmatites. During the channel sampling program last year, the Company uncovered what may be a fourth lithium-bearing pegmatite or a splay off one of the known pegmatites. One (1) drill collar from the 1980's was located, providing modern coordinates for the eastern-most lithium-bearing pegmatite. A total of five (5) samples were collected from four (4) outcropping areas.
Martin Stephan, Chief Executive Officer of Rock Tech, commented, "Our field program at the Georgia Lake lithium property is progressing. Historic drill holes were located on two lithium-bearing pegmatites, providing reliable coordinates for the first time since acquiring the property. Both of these regions, Aumacho and McVittie, are host to multiple lithium-bearing pegmatites and historic resource estimates. Obtaining modern coordinates and proper locations will increase the effectiveness of follow up exploration work aimed at upgrading these historic estimates to NI 43-101 compliant resources in the future."
Mr. Stephan continued, "finding the precise location of the third lithium-bearing pegmatite in the Aumacho region showed us that a portion of the pegmatite was situated beyond our claim boundaries. As a result, two additional claim units were staked."
This region of the property hosts at least three lithium-bearing pegmatites which, collectively, have an historic resource estimate of 776,074 tonnes grading 1.63% 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 lithium-bearing pegmatites in this region are not included in Rock Tech's NI 43-101 resource estimate.
Highlights from the drill program completed earlier this year included 5.03 metres grading 2.76% Li2O and 6.19 metres grading 1.78% Li2O (see news release dated July 11, 2017). Additional drilling is required before estimation of true width in core intersections can be determined.
The channel sample assay results from this area in 2016 were the highest recorded during the program, including 4.02 metres of 2.93% Li2O, with 1.00 metre of 4.42% Li2O, and 5.03 metres of 1.93% Li2O (see news release dated April 20, 2017). The channel sample results confirmed the surface orientation of the pegmatites and provided much-needed information regarding the geometry of the pegmatites greatly enhancing the effectiveness of the follow-up drill program.
The McVittie region, located south of the Nama Creek pegmatite, was the focus of a drill program conducted in 1955 and 1956. In total, twelve (12) holes were drilled totalling 1,093 metres leading to a resource estimate of 236,775 tonnes grading 1.03% Li2O (Pye, 1965). 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. The Company is not treating the historical estimate as current mineral resources or mineral reserves.
The channel sample assay results from this area in 2016 included 5.99 metres of 1.71% Li2O and 6.09 metres of 1.46% Li2O (see news release dated March 1, 2017). The channel sample results showed the presence of a previously unknown lithium-bearing pegmatite that is either a separate pegmatite or a splay of off one of the known pegmatites.
Five (5) samples were collected from the McVittie region during the field program and will be submitted to and analyzed by Actlabs, an ISO 9001:2008 certified analytical laboratory located in Geraldton, Ontario.
The field program is being carried out by Pleson Geoscience, a geological consulting firm dedicated to providing clients with cost effective exploration methods. Pleson Geoscience focuses on low-impact, high resolution data collection and uses conventional knowledge of geology and prospecting combined with the latest technology in surveying, drilling and geophysics. This allows Pleson Geoscience to generate and explore targets at a fraction of the cost of typical exploration programs.
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]