VANCOUVER, May 3, 2017 /CNW/ - Rock Tech Lithium
Inc. (the "Company" or "Rock Tech") (TSX-V: RCK; Frankfurt:
RJIB) is pleased to announce the final channel sample assay results
from its recently completed exploration program at its 100%-owned
Georgia Lake lithium property in the Thunder Bay Mining District of
Northwest Ontario,
Canada.
The assay results are from channel samples taken from the Parole
Lake pegmatite. Two (2) channels were cut on outcrops and seven (7)
samples taken.
Rock Tech's CEO, Martin Stephan,
commented, "We have been optimistic about the Parole Lake area of
the property based on historical work conducted in the
1950's. These results confirm that optimism. The
high-grade results, up to 2.69% lithium oxide, suggest the possible
surface continuity of the high-grade lithium oxide encountered at
depth and we are anxious to conduct follow up drilling at the
Parole Lake pegmatite as this area represents a tremendous
opportunity to increase lithium resources at our Georgia Lake
property."
The exploration work targeted nine (9) of the known
lithium-bearing pegmatite occurrences and has successfully expanded
on the wealth of knowledge obtained through past exploration
programs that led to the Company's National Instrument ("NI")
43-101 resource estimate.
Every sample in both channels returned lithium oxide ("Li2O")
values equal to or greater than 1.25%. The purpose of the
channels was to gain information on the location of the pegmatites
on surface and to aid in drill targeting in the future. Assay
result highlights are summarized in the following table:
|
|
|
|
|
Channel
|
From (m)
|
To (m)
|
Length (m)
|
Grade (%
Li2O)
|
PL-16-CH-1
|
0.00
|
3.01
|
3.01
|
1.57
|
PL-16-CH-2
|
0.00
|
4.22
|
4.22
|
1.89
|
including
|
1.03
|
2.06
|
1.03
|
2.69
|
The Parole Lake pegmatite, associated with the Jean Lake cluster
of pegmatites, was the focus of a drill program conducted in 1955
and 1956. In total, twenty-eight (28) holes were drilled totalling
4,893 metres leading to a resource estimate of 1.5 million tonnes
grading 1.3% Li2O (Finlay, 1956 from Pye, 1965). The historical
estimate does not use the categories set out in sections 1.2 and
1.3 of NI 43-101 and a qualified person has not done sufficient
work to classify the historical estimate as current mineral
resources or mineral reserves. The Company is not treating the
historical estimate as current mineral resources or mineral
reserves and the resource estimate is only relevant as a rough
estimate of the potential resource on the Parole Lake pegmatite. In
2011, Rock Tech drilled two holes, totalling 446 metres, on the
Parole Lake pegmatite intersecting 1.76% Li2O over 7.29m, including
2.29% over 5.15m.
The channel samples were analyzed by Actlabs, an ISO 9001:2008
certified analytical laboratory located in Geraldton, Ontario.
Rock Tech is the only exploration company in the Georgia Lake
region with an NI 43-101 resource estimate. 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.
All scientific and technical information in this news release
concerning the Georgia Lake lithium property was reviewed and
prepared under the supervision of Locke
Goldsmith, P. Eng., P. Geo., an independent Qualified
Person to Rock Tech.
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 Company's 100%-owned Georgia Lake lithium property, located
northeast of Thunder Bay, Ontario,
has an NI 43-101 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.
To view photos, videos and maps from the ongoing exploration
program, please use the following link:
http://rocktechlithium.com/ongoing-exploration-program/
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.