Rock Tech engages Niigaani Drilling, Mobilizes Drill Rig to Georgia Lake
VANCOUVER, BC, Sept. 1, 2021 /CNW/ - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) is pleased to announce that is has engaged Niigaani Drilling to complete a drill program at the Company's Georgia Lake lithium project in Ontario. The objective of the program is to confirm the delineated mineral resource, forming the basis for a Pre-Feasibility Study ("PFS").
The program is targeting a total of 7,800 metres over five (5) deposits: Main Zone North, Main Zone South West, Conway, Harricana and Line 60. As disclosed in a Preliminary Economic Assessment ("PEA") with an effective date of March 15, 2021, the Georgia Lake property hosts mineral resources as follows:
| |
Tonnage (MT) |
Grade (Li2O%) |
| Measured Resources |
2.31 |
1.04 |
| Indicated Resources |
4.31 |
0.99 |
| Measured & Indicated |
6.62 |
1.01 |
| Inferred Resources |
6.68 |
1.16 |
Bob MacDonald, General Manager of the Georgia Lake Lithium Project: "We are pleased with the progress at the Georgia Lake Project in the first half of 2021 and have commenced a Pre-Feasibility Study which is expected to be concluded in Q1 2022. We have engaged Niigaani Drilling to complete our 2021 drill programme with the focus on upgrading our confidence in the 5 main pegmatite dykes hosting spodumene in our northern land package. We are continuing to take all the necessary steps to advance the Georgia Lake Project."
Dirk Harbecke, Rock Tech CEO: "We are excited about the progress we are making and are pleased to have Niigaani Drilling on this project. We are on time to achieve our goal to deliver our first battery-grade lithium hydroxide in 2024 and be part of the electric revolution that will transform the mobility sector in the coming decade."
Furthermore, the Company announces that it has granted 475,000 stock options to directors and employees of the Company. The stock options have an exercise price of $5.05 and will expire on September 1, 2023.
The scientific and technical disclosure included in this news release has been reviewed and approved by Robert MacDonald, P.Eng., General Manager of the Georgia Lake Lithium Project, a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects ("NI 43-101").
On behalf of the Board of Directors,
"Dirk Harbecke"
Dirk Harbecke
Chairman and 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, Corporate Secretary, Rock Tech Lithium Inc., 777 Hornby Street, Suite 600, Vancouver, B.C., V6Z 1S4, Telephone: (778) 358-5200, Facsimile: (604) 670-0033, Email: [email protected]
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