VANCOUVER, Aug. 20, 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 received the lab results for Unconfined Compressive Strength ("UCS") testwork. The UCS tests were carried out in DMT GmbH & Co. KG's ("DMT") geotechnical laboratory in Essen, Germany, as part of its work on the first-ever Preliminary Economic Assessment ("PEA") at Rock Tech's flagship Georgia Lake lithium property.
The UCS tests provide specific geotechnical parameters for the design of mine layout. As a result, following the standards set by the International Society for Rock Mechanics, the main rock types from Rock Tech's Georgia Lake lithium property can be classified as "strong" to "very strong" rocks with strength parameters of up to 245 megapascal (MPa).
"The positive results from the UCS tests and the encouraging hydrogeological results recently announced, represent important milestones along the path to complete the preliminary economic assessment at our Georgia Lake lithium project," commented Martin Stephan, Rock Tech's CEO. "The positive results from the UCS tests will now be implemented in the preliminary design of the mine contemplated in the PEA."
Twelve (12) cylindrical samples from Rock Tech's drill core, together with two (2) rock samples of pegmatite from the field, representing the main rock types encountered in the planned mining area, were submitted to the lab for testing.
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.
Additionally, the Company announces the extension of its technical services agreement with Arriva Management through December 31, 2018. As partial compensation for the services to be provided, Arriva will receive $39,000 worth of common shares of the Company, paid in tranches after services have been rendered. The agreement and the issuance of the common shares are subject to the approval of the TSX Venture Exchange.
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: 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