VANCOUVER, Jan. 12, 2018 /CNW/ - Rock Tech Lithium
Inc. (the "Company" or "Rock Tech") (TSX-V: RCK; Frankfurt:
RJIB) is pleased to provide an update on its plans for 2018.
From the desk of Martin Stephan,
director and Chief Executive Officer:
"We began 2017 on a positive note, discovering new
lithium-bearing pegmatites at our Georgia Lake lithium project.
While lithium in the Georgia Lake region was discovered in the
1950's and much work has been done by past operators, this reminded
us of the project's growth potential. Much of our exploration
investments have been aimed at modernizing historic data; however,
we made it a goal to do more prospecting during 2017 and the
results speak for themselves. During the summer, additional new
lithium-bearing pegmatites were discovered adjacent to the main
resource zone and we are currently completing a trenching program
testing the potential of these discoveries.
This past year also saw drills turning at Georgia Lake for the
first time since 2012. Our drill program targeted two regions with
historic resources and gave us valuable data that will help make
future drilling much more efficient.
2017 was a positive year for companies in the lithium industry,
including Rock Tech. By now, most major automobile manufacturers
have announced plans to electrify all or a substantial portion of
their models. Similarly, governments from Asia to Europe have stated their intentions to phase
out the internal combustion engine. Automaker electrification
announcements, government policy objectives and persistent
difficulties bringing new supply online have buoyed lithium prices.
We do not see significant changes to any of these factors next year
and continue to be bullish on lithium prices in the near-term. The
fourth quarter of 2017 saw what we believe will be the first of
many M&A transactions in the lithium industry with an
early-stage exploration company acquired at a premium by a Chinese
group seeking supply security.
In addition to the positive developments at Rock Tech, we are
witnessing another positive shift in the overall lithium market, a
shift that may well characterize 2018. As mentioned in my previous
letter to you, on February 1 of last
year, there is a shortage in the lithium market. This has created a
desirable situation for investors in lithium exploration companies.
Specifically, end-users of lithium, whether battery or auto
manufacturers, are seeking to get involved much earlier in the
project development cycle than you see elsewhere in the commodities
complex. By providing a suite of development capital sources,
whether through product prepayments, bridge financing or loans,
earlier in a project's development, lithium end-users reduce the
necessity of massive equity dilution that characterizes typical
mining companies on their path to production. This year, we will
continue discussions with potential partners seeking to fulfill
their future lithium requirements by providing project development
capital. We have been and remain committed to minimizing dilution
to preserve maximum appreciation potential for our
shareholders.
Expanding the Team
During 2017, we welcomed Dr. Peter
Kausch to the board of directors. Dr. Kausch holds Doctorate
and Masters degrees in Mining Engineering and brings over 40 years
of experience in natural resources to Rock Tech.
Expanding Our Knowledge Base
Our newly formed Advisory Board was officially constituted on
January 1. We are honoured to welcome
such distinguished individuals to the Advisory Board, each bringing
a tremendous wealth of knowledge in resources and the automotive
sector to Rock Tech (see company news release dated December 20, 2017).
Expanding Resources
As of today, Rock Tech's Georgia Lake property hosts indicated
resources of 3.2 million tonnes grading 1.10% lithium oxide and
inferred resources of 6.3 million tonnes grading 1.00% lithium
oxide. The property also hosts additional historic resources and
several recently discovered lithium-bearing pegmatites.
During 2018, we plan to increase Rock Tech's control over
lithium resources by expanding the Georgia Lake project, in
cooperation with experienced service providers, and by making
strategic acquisitions in a variety of lithium sources and
jurisdictions around the globe."
Best,
"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.