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,
"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.