VANCOUVER, BC, Jan. 31,
2023 /CNW/ - Rock Tech Lithium Inc. (TSXV:
RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or
"Rock Tech") is pleased to announce positive assay results of a
summer exploration program that identified three new
spodumene-pegmatite prospects. The program was completed in the
summer of 2022 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 positive assay results of
outcrop samples collected at its 100%-owned Georgia Lake project.
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.
The samples were collected during an extensive field exploration
program that was completed between July and September of 2022. Work
included prospecting and mapping of spodumene-bearing pegmatites in
areas both proximal to known deposits and in under-explored areas
at the Georgia Lake property.
Three new prospects, hereinafter referred as Line 20, Camp 38,
and Conway East were identified
based on assay results of samples collected from several areas
(Refer to Figure 1 and Table 1 below for location and assay results
of individual samples). Further trenching and drilling will be used
to more precisely determine the dimensions of the
spodumene-pegmatites, however the current minimum interpreted
strike-extent ranges from 100 metres for Line 20 and Camp 38 to 500
meters for Conway East. Rock Tech
plans to conduct a trenching program in the summer of 2023 to
follow-up on the positive assay results.
Commenting on the results of the 2022 summer exploration
program, Robert MacDonald, General
Manager of the Georgia Lake Project, said, "Rock Tech is pleased
with the results of the summer exploration program and we are
encouraged with the ongoing potential of the Georgia Lake Project.
Rock Tech is currently planning our 2023 exploration program to
follow up on these encouraging results."
ATTACHMENTS
FIGURE 1 | Map showing location and results of
summer 2022 field exploration samples at Rock Tech's Georgia Lake
project. Dark grey contour-like lines represent pit designs that
were completed by AMC Consulting (Canada) Ltd. as part of prefeasibility study
that was completed in the fourth quarter of 2022.
TABLE 1 | Summary of Significant Assay Results for
Samples Collected during the 2022 Summer Exploration Program. GPS
Locations are in UTM NAD83 Zone 16N.
SAMPLING AND QAQC
PROCEDURE
Representative samples were taken for every pegmatite station
during prospecting. 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
Thunder Bay, Ontario for crushing
and pulverizing, and were subsequently sent to Actlabs'
geochemistry laboratory in Ancaster,
Ontario for analysis. 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 news
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
Rock Tech is a cleantech company on a mission to produce lithium
hydroxide for EV batteries. The Company plans to build lithium
converters at the door-step of its customers, to guarantee
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 material from
discarded batteries. Rock Tech's goal: to create a closed-loop
lithium production system.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) 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
are based on Rock Tech's current expectations, estimates, and
assumptions in light of its experience and is 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 summer 2023
trenching program and the objectives, results and the benefits
thereof; the Company's expectations regarding its three new
prospects entitled Line 20, Camp 38, and Conway East, the
summer 2023 exploration program to be undertaken on the Georgia
Lake Project , 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; 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
exploration program will be indicative of future results; that the
way towards a feasibility study (DFS) 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.
Forward-looking information 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 Rock Tech's 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 risk that Rock Tech will not be able to meet
its financial obligations as they fall due, delays in government
approval for the construction and commissioning of the Georgia Lake
Project, changes in commodity prices, Rock Tech's ability to
retain and attract skilled staff and to secure feedstock from third
party suppliers, unanticipated events and other difficulties
related to construction, development and operation of converters
and mines, 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
exchange rates and market prices of Rock Tech's securities, Rock
Tech's history of losses, impacts of climate change and other risks
and uncertainties discussed under the heading "Financial
Instruments and Other Risks" in Rock Tech's most recently filed
Management Discussion and Analysis, a copy of which is filed
electronically through SEDAR and is available online at
www.sedar.com. 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.
It can not be guaranteed that actual events, results,
performance and/or achievements will be consistent with the
forward-looking information and management's assumptions may prove
to be incorrect. This forward-looking information reflects Rock
Tech management's current views as at the date of this press
release. Except as may be required by law, Rock Tech undertakes no
obligation and expressly disclaims any responsibility, obligation
or undertaking to update or to revise any forward-looking
information, whether as a result of new information, future events
or otherwise, to reflect any change in Rock Tech's expectations or
any change in events, conditions or circumstances on which any such
information is based.
The forward-looking information contained herein is presented
for the purposes of assisting readers in understanding Rock Tech's
plans, objectives and goals and is not appropriate for any other
purposes.
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SOURCE Rock Tech Lithium Inc.