VANCOUVER, June 4, 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 engaged DMT GmbH & Co. KG ("DMT") to
complete a Preliminary Economic Assessment ("PEA") at its flagship
100%-owned Georgia Lake lithium property in the Thunder Bay Mining
District of Northwest Ontario,
Canada.
The PEA will be based on the updated resource estimate, due for
release shortly, which is expected to include an increase in total
tonnage and an upgrade in resource classification relative to the
NI 43-101 resource estimate completed in 2012. The new resource
estimate will include results of the work Rock Tech has invested in
during the past 18 months. The updated resource estimate is also
being prepared by DMT, as disclosed in a news release dated
March 20, 2018.
"DMT possesses full-service capabilities including resource
definition, mining, processing, engineering and geotechnical
expertise," said Martin Stephan,
Chief Executive Officer of Rock Tech. "DMT's well-qualified
personnel with worldwide project experience and in-depth knowledge
of international environmental, technical and financial
requirements for the evaluation of mineral projects make them the
perfect partner for the development of the Georgia Lake
project."
"We have made successful investments over the past few years at
Georgia Lake including the first-ever NI 43-101 resource estimate,
the successful bench-scale production of high-grade spodumene
concentrate and battery-grade lithium carbonate and the discovery
of several additional lithium-bearing pegmatites," added
Dirk Harbecke, the chairman of Rock
Tech's board of directors. "The commissioning of a PEA represents a
huge leap forward in the development of the Georgia Lake property.
We are happy to work with DMT on it, a respected international
institution which huge experience in bringing projects into
production."
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.