VANCOUVER, BC, Oct. 7, 2022
/CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF)
(FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is
pleased to announce the final results from the Company's
recently completed 2021 – 2022 drill program (the "Drill Program")
at its 100%-owned Georgia Lake lithium project in the Thunder Bay
Mining District of Ontario (the
"Georgia Lake Project").
Rock Tech is pleased to announce the final results from its
completed 2021 – 2022 Drill Program. The Drill Program was designed
to support the Company's ongoing pre-feasibility study in respect
of the Georgia Lake Project, which the Company expects to publish
in the fourth quarter of 2022. The final drill results are from
exploration drilling completed during the winter and spring of
2022. Commenting on the Drill Program, Robert MacDonald, General Manager of the Georgia
Lake Project, said, "Rock Tech is pleased to conclude this phase of
our Drill Program, and with that, we are looking forward to the
completion of our pre-feasibility study later this year while
continuing to progress permitting work in respect of the Georgia
Lake Project."
The objective of the Drill Program was to increase the
confidence in the current mineral resource estimate in respect of
the Georgia Lake Project and to upgrade the resource classification
from predominantly inferred resources to predominantly indicated
resources, as well as test potential extensions of the mineral
resource down dip and along strike of the deposits. Assay results
from the initial 70 holes drilled during the 2021 – 2022 Drill
Program were announced by the Company on January 12, 2022 and June
30, 2022, respectively.
In addition to the Drill Program, Rock Tech is also pleased to
announce that it executed a successful mapping and prospecting
program commenced in summer 2022 at the Georgia Lake Project in
areas both proximal to known spodumene-bearing pegmatite deposits
and in under-explored areas within its 6,728 hectares property. The
Georgia Lake Project, located between Nipigon and Beardmore, Ontario is comprised of 1,042
hectares of mineral leases and 5,686 hectares of mineral
claims. Since the start of the Drill Program in 2021, the
Company has completed a total of 23,200 metres of diamond drilling
that focused on five spodumene pegmatite deposits known as the Main
Zone North ("MZN"), Conway, Main
Zone Southwest ("MZSW"), Harricana and Line 60.
KEY EXPLORATION HIGHLIGHTS
- Fourty-six (46) NQ1 diamond drill holes totaling
13,829 metres were completed at the MZN deposit.
- Thirty-five (35) NQ diamond drill holes totaling 5,943 metres
were completed at Conway.
- Sixteen (16) NQ diamond drill holes totaling 3,437 metres were
completed at MZSW, Harricana and Line 60.
- Significant assay results from remaining 27 holes Rock Tech
have been waiting for lab results include:
-
- MZSW Deposit
-
- MZSW-21-02 9.1m (true width) at 0.96%
Li2O starting from 178m
- MZN Deposit
-
- NC-22-16 2.2m (true width) at
1.12% Li2O starting from 344.26m
- NC-22-20 5.85m (true width) at
1.06% Li2O starting from 145.23m
- NC-22-21 2.58m (true width) at
1.07% Li2O starting from 312.1m
- Conway Deposit
-
- CON-21-04 2.48m (true width) at 0.56% Li2O
starting from 148.1m
- CON-22-27 3.52m (true width) at 1.39% Li2O
starting from 75m
- CON-22-32 3.44m (true width) at 1.14% Li2O
starting from 97m
- As previously announced (June 30,
2022), the Drill Program has extended mineralization beyond
the limits of previous drilling at MZN and Conway (see details below), and also
identified a new mineralized zone south of the MZN deposit.
Significant assay intersections from the new zone include:
-
-
-
- NC-22-17 3.25m (true width) at
0.92% Li2O starting from 117.27m
- NC-22-26 2.97m (true width) at
1.67% Li2O starting from 67.1m
- NC-22-30 2.32m (true width) at
1.05% Li2O starting from 239m
______________________________________
|
1
Note: Represents core samples of 47.6mm in
diameter.
|
DETAILS ABOUT THE MAIN ZONE NORTH
DRILLING
The MZN deposit contains multiple stacked pegmatite dikes that
are grouped into the "Northern" and "Southern" pegmatite systems at
MZN. Spodumene mineralization at MZN strikes at 235 degrees for
over 1 km and dips 60 degrees to the northwest. At MZN, the Drill
Program extended spodumene mineralization for 50 – 100 metres down
dip of known pegmatites for about 300 metres along strike on the
eastern side of the deposit (See Table 1 and Figures 1 to 3 in the
Appendix to this press release). A new mineralized zone was also
discovered 150 – 300 metres south of the "MZN" deposit where
historic drill holes and mapping showed sporadic spodumene
mineralization (See Figure 1 and assay results for drill holes
NC-22-17 to -19, NC-22-26, and NC-22-28 to -31 in Table 1,
respectively, in the Appendix to this press release).
DETAILS ABOUT THE CONWAY DRILLING
The Conway deposit hosts one
main pegmatite dike with spodumene mineralization striking at 210
degrees for 800 metres and dips 70 degrees to the northwest. The
2021 – 2022 drilling at Conway
extended spodumene mineralization for 100 metres along strike to
the south, to the 75 metres level (See Table 2 and Figures 4 and 5
in the Appendix to this press release).
DETAILS ABOUT DRILLING AT MAIN ZONE
SOUTHWEST
The MZSW deposit, located 1 km to southwest of MZN deposit,
hosts three parallel – sub-parallel spodumene pegmatites that
strike at 235 degrees for 300 metres, dipping 70 degrees to the
northwest. See Table 2 in the Appendix to this press release for
assay results in drill hole MZSW-21-02.
SAMPLING AND QAQC PROCEDURE
Samples were taken across every spodumene-bearing pegmatite and
1 metre into the barren host rock on either side of the dykes.
Sample lengths were around 1 metre, though individual sample length
was determined based on internal zoning of the dykes and the
locations of their contacts. Core to be sampled was cut in half
with one half being sent for analysis and the other half remaining
in the box for reference. All core is stored at Rock Tech's core
facility in Beardmore, Ontario.
Each sample was put into its own plastic sample bag with a sample
tag and closed with zip ties. About 13% of the samples submitted to
Activation Laboratories Ltd. ("Actlabs") for analysis were
QAQC samples that were inserted into the sample stream and consist
of a high- and low-grade lithium standards, blank material, and
duplicates. Samples were sent to Actlabs' preparation laboratories
in Geraldton and Thunder Bay, Ontario for crushing and
pulverizing, and were subsequently sent to Actlabs' geochemistry
laboratory in Ancaster, Ontario
for analysis of 41 elements using fusion plus ICP-OES or ICP-MS.
Analysis for lithium was completed using a sodium peroxide fusion
plus ICP-OES. Actlabs is independent of the Company.
SCIENTIFIC AND TECHNICAL
DISCLOSURE
The scientific and technical disclosure included in this press
release has been reviewed and approved by Amanuel Bein, P.Geo., Chief Exploration
Geologist of the Georgia Lake Project, a Qualified Person under
National Instrument 43-101 Standards of Disclosure of Mineral
Projects. Exploration data was collected and verified
following the guidelines outlined in CIM Mineral Exploration Best
Practice Guidelines.
ABOUT ROCK TECH LITHIUM
INC.
Rock Tech is a cleantech company on a mission to produce lithium
chemicals for EV batteries. The Company aims to serve automotive
customers with high-quality lithium hydroxide. Rock Tech plans to
build high-tech lithium converters at the door-step of the European
and North American automotive industries, to provide customers with
supply-chain transparency and just-in-time delivery. To close the
most pressing gap in the clean mobility story, Rock Tech has
gathered one of the strongest teams in the industry. The Company
has adopted strict ESG standards and is developing a proprietary
refining process aimed at further increasing efficiency and
sustainability. Rock Tech plans to source raw material from its own
mineral project in Canada as well as procuring it from
other responsibly producing mines. In the years to come, the
Company expects to also source raw materials from discarded
batteries. Rock Tech's goal: to create a closed-loop lithium
production system. www.rocktechlithium.com
Neither TSX-V nor its Regulation Services Provider (as that
term is defined in policies of the TSX-V) accepts responsibility
for the adequacy or accuracy of this release.
Cautionary Note Concerning Forward-Looking
Information
The following cautionary statements are in addition to all other
cautionary statements and disclaimers contained elsewhere in, or
referenced by, this press release. Certain information set forth in
this press release constitutes "forward-looking information"
("forward-looking information") within the meaning of applicable
Canadian securities laws, which information is based on Rock Tech's
current expectations, estimates, and assumptions in light of its
experience and its perception of historical trends. All statements
other than statements of historical facts may constitute
forward-looking information. Often, forward-looking information can
be identified by the use of words or phrases such as "estimate",
"project", "anticipate", "expect", "intend", "believe", "hope",
"may" and similar expressions, as well as "will", "shall" and all
other indications of future tense. All forward-looking information
set forth in this press release is expressly qualified in its
entirety by the cautionary statements referred to in this section.
In particular, forward-looking information contained in this press
release includes: statements regarding the Drill Program and the
ongoing pre-feasibility study, including their objectives, results
and the benefits thereof; the timing of completion of the
pre-feasibility study; the Company's expectations regarding its
planned and prospective projects, including the Georgia Lake
Project and the proposed lithium projects, the Company's intentions
with respect to the development and timing thereof and statements
regarding future plans, activities, and schedules relating to such
projects and related development; statements and expectations
regarding the electric vehicle industry; Rock Tech's opinions,
beliefs and expectations regarding the Company's business strategy,
development and exploration opportunities and projects; and plans
and objectives of management for the Company's operations and
properties.
Forward-looking information is based on certain assumptions,
estimates, expectations and opinions of the Company and, in certain
cases, third party experts, that are believed by management of Rock
Tech to be reasonable at the time they were made. This
forward-looking information was derived utilizing numerous
assumptions regarding, among other things: that the results of the
Drill Program will be indicative of future results; that the
pre-feasibility study will continue as currently planned; the
supply and demand for, deliveries of, and the level and volatility
of prices of, feedstock and intermediate and final lithium
products; that all required regulatory approvals and permits can be
obtained on the necessary terms in a timely manner; expected
growth, performance and business operations; future commodity
prices and exchange rates; prospects, growth opportunities and
financing available to the Company; general business and economic
conditions; the costs and results of exploration, development and
operating activities; Rock Tech's ability to procure supplies and
other equipment necessary for its business; and the accuracy and
reliability of technical data, forecasts, estimates and studies.
The foregoing list is not exhaustive of all assumptions which may
have been used in developing the forward-looking information. While
Rock Tech considers these assumptions to be reasonable based on
information currently available, they may prove to be incorrect and
should not be read as a guarantee of future performance or
results.
In addition, forward-looking information involves known and
unknown risks and uncertainties and other factors, many of which
are beyond Rock Tech's control, that may cause actual events,
results, performance and/or achievements to be materially different
from that which is expressed or implied by such forward-looking
information. Risks and uncertainties that may cause actual events,
results, performance and/or achievements to vary materially
include: the Company's ability to access funding required to invest
in available opportunities and projects (including the Georgia Lake
Project) and on satisfactory terms; the current and potential
adverse impacts of the COVID-19 pandemic and ongoing geopolitical
hostilities; the risk that Rock Tech will not be able to meet its
financial obligations as they fall due; changes in commodity and
other prices; Rock Tech's ability to attract and retain skilled
staff and to secure feedstock from third party suppliers;
unanticipated events and other difficulties related to the
construction, development and operation of the Georgia Lake Project
and/or the Company's proposed lithium converters; the cost of
compliance with current and future environmental and other laws and
regulations; title defects; competition from existing and new
competitors; changes in currency and/or exchange rates and the
market prices of Rock Tech's securities; Rock Tech's history of
losses; adverse impacts of climate change; and other risks and
uncertainties described from time to time in Rock Tech's public
disclosure documents available on the Company's SEDAR profile
at www.sedar.com, including those discussed under the heading
"Risk Factors" in Rock Tech's most recently filed Management
Discussion and Analysis and Annual Information Form, respectively.
Such risks and uncertainties do not represent an exhaustive list of
all risk factors that could cause actual events, results,
performance and/or achievements to vary materially from the
forward-looking information.
Rock Tech Lithium Inc.
APPENDIX
Figure 1. Map showing location of 2021 – 2022 holes drilled at
the MZN (A) and Conway (B)
deposits.
Figure 2. Long-section showing Lithium grade based on previous
and current (2021-2022) drill hole composites at the Southern
Pegmatite System of the MZN deposit.
Figure 3. Long-section showing Lithium grade based on previous
and current (2021-2022) drill hole composites at the Northern
Pegmatite System of the MZN deposit.
Figure 4A. Spodumene bearing Lithium Pegmatite intersection in
drill hole MZSW-21-02 (Core Interval from 172 to 189 m)
Figure 4B. Spodumene bearing
Lithium Pegmatite intersections in drill hole NC-22-16 (Core
Interval from 331.4 to 348.9 m)
Figure 4C. Spodumene bearing Lithium Pegmatite intersections in
drill hole CON-22-27 (Core Interval from 71 to 88 m)
Figure 4D. Spodumene bearing Lithium Pegmatite intersections in
drill hole NC-22-17 (Core Interval from 106 to 123.5 m)
Figure 5. Long-section showing Lithium grade based on previous
and current (2021-2022) drill hole composites at Conway.
Table 1. Summary of Assay Results for Drill Holes Completed
at the MZN Deposit in 2021 - 2022. GPS Locations are in UTM NAD83
Zone 16N.
Hole ID
|
Easting
|
Northing
|
Elevation
(M)
|
Hole
Length
(M)
|
Azimuth
|
Dip
|
From (M)
|
To (M)
|
Length
(M)
|
True
Width
(M)
|
Li2O %
|
NC-22-05
|
424418
|
5477728
|
368
|
395.3
|
140
|
-65
|
No Significant Assay
Results
|
NC-22-10
|
425279
|
5478063
|
365
|
326.7
|
135
|
-50
|
121.4
|
123.74
|
2.34
|
2.2
|
1.09
|
126.68
|
127.15
|
0.47
|
0.4
|
1.16
|
NC-22-11
|
425149
|
5477793
|
371
|
163.7
|
135
|
-50
|
30.1
|
31
|
0.9
|
0.8
|
0.65
|
NC-22-12
|
425218
|
5477815
|
372
|
143
|
135
|
-50
|
122.75
|
124.4
|
1.65
|
1.6
|
1.15
|
NC-22-13
|
425225
|
5477702
|
367
|
163.7
|
136
|
-50
|
62.9
|
63.8
|
0.9
|
0.8
|
1.12
|
NC-22-14
|
425263
|
5477845
|
368
|
167
|
135
|
-50
|
97
|
99
|
2
|
1.9
|
1.38
|
NC-22-16
|
424716
|
5477951
|
369
|
386
|
135
|
-60
|
344.26
|
346.74
|
2.48
|
2.2
|
1.12
|
NC-22-17
|
424737
|
5477431
|
376
|
203
|
135
|
-50
|
117.27
|
121.31
|
4
|
3.3
|
0.92
|
NC-22-18
|
424657
|
5477374
|
375
|
200
|
135
|
-50
|
187.4
|
189.47
|
2.07
|
1.7
|
0.65
|
NC-22-19
|
424762
|
5477319
|
375
|
200
|
135
|
-50
|
182.63
|
182.63
|
1
|
0.8
|
1.32
|
NC-22-20
|
425165
|
5477981
|
366
|
281
|
138
|
-48
|
128.69
|
131
|
2.31
|
2.2
|
1.74
|
145.23
|
151.4
|
6.17
|
5.9
|
1.06
|
167.25
|
167.68
|
0.43
|
0.4
|
1.24
|
173.07
|
173.7
|
0.63
|
0.6
|
1.19
|
NC -22-21
|
424803
|
5477939
|
371
|
350
|
135
|
-60
|
312.1
|
315.1
|
3
|
2.6
|
1.07
|
320.15
|
321.5
|
1.35
|
1.2
|
0.82
|
NC-22-22
|
425344
|
5477759
|
369
|
99
|
136
|
-50
|
41.37
|
43.24
|
1.87
|
1.8
|
1.29
|
NC-22-23
|
425284
|
5477727
|
370
|
134
|
135
|
-50
|
No Significant Assay
Results
|
NC-22-24
|
424942
|
5478062
|
374
|
407
|
136
|
-60
|
No Significant Assay
Results
|
NC-22-26
|
424852
|
5477530
|
372
|
200
|
135
|
-50
|
67.1
|
70.6
|
3.5
|
3
|
1.67
|
NC-22-27
|
425394
|
5477956
|
371
|
199
|
138
|
-50
|
No Significant Assay
Results
|
NC-22-28
|
424666
|
5477244
|
369
|
200
|
135
|
-50
|
No Significant Assay
Results
|
NC-22-29
|
424918
|
5477430
|
371
|
137
|
135
|
-50
|
69.29
|
70
|
0.71
|
0.6
|
0.71
|
|
|
|
|
|
|
|
86
|
87
|
1
|
0.9
|
1.35
|
NC-22-30
|
424547
|
5477293
|
368
|
251
|
135
|
-50
|
239
|
242
|
3
|
2.3
|
1.05
|
NC-22-31
|
424885
|
5477579
|
372
|
251
|
135
|
-50
|
48.22
|
49.33
|
1.11
|
0.9
|
0.99
|
Table 2. Summary of Assay Results for Drill Holes Completed
at Conway and MZSW Deposits in
2021 - 2022. GPS Locations are in UTM NAD83 Zone 16N.
Hole ID
|
Easting
|
Northing
|
Elevation
|
Hole
Length
(M)
|
Azimuth
|
Dip
|
From (M)
|
To (M)
|
Length
(M)
|
True
Width
(M)
|
Li2O %
|
CON-21-04
|
427236
|
5478240
|
386
|
206
|
120
|
-53
|
148.1
|
151.1
|
3
|
2.5
|
0.56
|
CON-22-27
|
427230
|
5478051
|
380
|
110
|
100
|
-45
|
75
|
79
|
4
|
2.5
|
1.39
|
84.2
|
86
|
1.8
|
1.6
|
0.99
|
CON-22-28
|
427219
|
5477834
|
391
|
87
|
120
|
-45
|
51
|
53
|
2
|
1.7
|
1.08
|
CON-22-30
|
427167
|
5477783
|
381
|
131
|
120
|
-48
|
No Significant Assay
Results
|
CON-22-32
|
427313
|
5478258
|
393
|
131
|
118
|
-51
|
97
|
101
|
4
|
3.4
|
1.14
|
MZSW-21-02
|
424224
|
5477100
|
370
|
270.4
|
137
|
-61
|
178
|
190
|
12
|
9.1
|
0.96
|
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SOURCE Rock Tech Lithium Inc.