VANCOUVER, June 27, 2018 /CNW/ - Rock Tech Lithium
Inc. (the "Company" or "Rock Tech") [TSX-V: RCK; Frankfurt: RJIB (WKN: A1XF0V)] is pleased to
announce that DMT GmbH & Co. KG ("DMT") has completed a NI
43-101 Technical Report (the "Technical Report") following the
decision of reassessing the resource potential at Rock Tech's
flagship 100%-owned Georgia Lake lithium property in the Thunder
Bay Mining District of Northwest
Ontario, Canada.
The updated resource estimate contained in the Technical Report
represents both an increase in total tonnage and an upgrade in
resource classification relative to the previous NI 43-101 resource
estimate released in 2012. The updated resource estimate, which is
the first result of the assistance of German DMT Group with the aim
of mining lithium, is as follows:
- Measured Resources: 1.89 million tonnes @ 1.04% lithium oxide
("Li2O");
- Indicated Resources: 4.68 million tonnes @ 1.00% Li2O;
- Inferred Resources: 6.72 million tonnes @ 1.16% Li2O.
"We are extremely pleased and excited to announce an updated
resource estimate, including the first-ever 'measured' resource for
our Georgia Lake lithium project," said Martin Stephan, Chief Executive Officer of Rock
Tech. "And we are very happy in the current market environment that
we own a hard rock pegmatite project. The increased resource
tonnage and upgraded resource classification bolster our confidence
in the future prospects and the economic feasibility of our
flagship property. The new lithium-bearing pegmatite discoveries
made during the 2016 and 2017 field programs have not even been
included in the updated resource estimate and demonstrate the
significant upside that still remains at Georgia Lake."
"Rock Tech has made significant investment in exploring and
developing the Georgia Lake lithium project, which resulted in an
initial NI 43-101 resource evaluation carried out in 2012. Since
summer 2016, we have increasingly worked on the further development
of our property. A key aspect is the cooperation with DMT, a
leading international mining services provider, who is an integral
part of the German TÜV NORD Group – one of the most respected
brands in Germany", added
Dirk Harbecke, the chairman of Rock
Tech's Board of Directors. "The updated Technical Report with
resource estimate will form the basis of the first-ever Preliminary
Economic Assessment ("PEA") on the Georgia Lake property."
In total, 175 drill holes totalling more than 29,000
metres were available for the current resource estimate, in
addition to a substantial amount of trenching and channel
sampling.
The Technical Report will be filed on The System for Electronic
Document Analysis and Retrieval ("SEDAR") within 45 days of this
news release.
The majority of pegmatites in the Georgia Lake group can be
classified as albite-spodumene type pegmatites. Albite-spodumene
type pegmatites are characterized by homogenous dykes with
coarse-grained spodumene and K-feldspar aligned perpendicular to
the dyke walls. Spodumene is the dominant or only lithium-bearing
mineral.
Drill holes were drilled in a sectional pattern with drill hole
spacing of around 60 metres in maximum between sections and 40 to
60 metres along sections.
All scientific and technical information in this news release
was reviewed and prepared under the supervision of Karl Stephan Peters, EurGeol 787, an independent
Qualified Person to Rock Tech.
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.