VANCOUVER, Feb. 26, 2018 /CNW/ - Rock Tech Lithium
Inc. (the "Company" or "Rock Tech") [TSX-V: RCK; Frankfurt: RJIB (WKN: A1XF0V)] is pleased to
announce check-sample assay results from its due diligence program
for the Nogalito lithium property in Sonora, Mexico. The Company has entered into a
Letter of Intent ("LOI") to acquire, through its wholly-owned
subsidiary, Minerales de Baterias SA de CV, a 100% interest in the
Nogalito lithium property in Sonora,
Mexico, subject to satisfactory due diligence and regulatory
approval.
Rock Tech collected five (5) samples from unconsolidated surface
sediments in the basin and analyzed their lithium content. All five
samples were anomalous for lithium with assays ranging from 150 ppm
to 600 ppm lithium, averaging 292 ppm lithium.
Martin Stephan, Chief Executive
Officer of Rock Tech, commented, "The sediment samples are in line
with our high expectations based on previous sampling completed by
US Borax Inc., which collected 136 samples (with a high of 1,166
ppm) during the 1990's while exploring for borate, and by the
property vendors whose own sampling showed lithium concentrations
of 381 ppm and 590 ppm. We have now confirmed that the volcanic
tuffs and sediments contain anomalous lithium values at the
surface, supporting the hypothesis that a concentration of lithium
in brine exists in the basin at depth."
All scientific and technical information in this news release
was reviewed and prepared under the supervision of Locke B. Goldsmith, P.Eng., P.Geo., an
independent Qualified Person to Rock Tech.
About the Nogalito Lithium Project
The Nogalito property is located in a Tertiary age geologic
basin with favourable felsic volcanics, sandstones and siltstones
in a volcanoclastic and tuff basinal sequence comprised of
lithium-bearing clay horizons, volcaniclastic sediments, clayey
sandstones and sandy and calcareous sediments. These are in a
fault-bounded graben that contains the known lithium in a basin of
approximately 16 kilometers long by 5 kilometers wide. The region
is geologically similar in nature to deposits in Chile, Argentina and Nevada with lithium in volcanic rocks around
the basin presenting the potential for brine-based lithium
discoveries.
Exploration work previously conducted by US Borax Inc., in 1990,
exploring for borate, led to the initial lithium discoveries. The
Nogalito property has highly anomalous concentrations of lithium
with values exceeding 1,000 ppm lithium in rock chip sampling of 1
metre channels across exposed stratigraphy. Of the US Borax Inc.
sediment sampling, 108 samples collected during their exploration
program returned values between 200 ppm and 498 ppm lithium,
twenty-seven (27) samples returned values between 523 ppm and 968
ppm lithium and one sample returned a value of 1,166 ppm
lithium.
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 of Ontario 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.
On behalf of the Board of Directors of the Company,
"Martin Stephan"
Martin Stephan
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.