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.
Brad Barnett, Chief Financial Officer, Rock Tech Lithium Inc., 1021 West Hastings Street, Suite 900, Vancouver, B.C., V6E 0C3, Telephone: (604) 558-5123, Facsimile: (604) 670-0033, Email: [email protected]
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