VANCOUVER, Aug. 7, 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 collected samples for Uniaxial Compressive
Strength ("UCS") testwork. The UCS tests are being 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 UCS tests will assess the ability of cylindrical intact rock
core specimens to withstand loads and resist deformation or
fracture. Compressive strength is a key value for the design of
open pits and underground mines.
Twelve (12) cylindrical samples from Rock Tech's drill core,
together with two (2) rock samples of pegmatite from the field,
were collected and have been sent to the certified lab of DMT's
mining engineering department where the UCS tests will be carried
out.
"The UCS tests conducted on drill core and rock samples from our
Georgia Lake lithium property will provide valuable data for the
technical calculation of pit slopes and openings in the
underground," said Martin Stephan,
Rock Tech's CEO.
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 877 an independent
Qualified Person to Rock Tech.
Additionally, Rock Tech is granting 1.52 million stock options
to employees, directors and consultants. The stock options have an
exercise price of $0.88 and expire on
August 5, 2022.
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.