Lithium Assay Results Returned from Step-out Winter 2023 Drill Program as Rock Tech Initiates Summer Field Exploration at Georgia Lake Rock Tech completed its step-out winter drill program ("Phase I") as part of its lithium mineralization extension targets for Georgia Lake.
Lithium Assay Results Returned from Step-out Winter 2023 Drill Program
as Rock Tech Initiates Summer Field Exploration at Georgia Lake
Rock Tech completed its step-out winter drill program ("Phase I") as part of its lithium mineralization extension targets for Georgia Lake.
17 exploration holes for a total of
3,676 meters were drilled with supporting assay results for:
10 NQ diamond drill holes totaling 2,115 meters at Main Zone North (MZN) deposit;
7 NQ diamond drill holes totaling 1,561 meters at McVittie deposit.
Rock Tech has initiated an extensive summer field exploration program ("Phase II") at the Georgia Lake property.
VANCOUVER, BC
,
July 4, 2023
/CNW/ -
Rock Tech Lithium Inc.
(TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V)
(the "Company" or "Rock
Tech") has received positive assay results from its 2023 winter drill program. The completed step-out drilling aims to support the expansion of known pegmatite
zones at its 100%-owned Georgia Lake Lithium project in the Thunder Bay Mining District of
Ontario
(the "Georgia Lake Project").
Rock Tech has successfully completed the drilling of 17 exploration holes for a total of 3,676 meters in the first months of 2023, at the Main Zone North (MZN)
and McVittie deposits. It has received assay results for ten holes drilled around MZN and seven holes that were drilled at McVittie (refer to results on Table 1 and
Table 2).
Commenting on the Drill Programme,
Robert MacDonald
, General Manager of the Georgia Lake Project, said, "Rock Tech is pleased to have been able to follow
up on our 2021-22 drill results from the MZN and past results from McVittie. Positive results obtained further support the strength of the deposits and extends our
understanding of the known pegmatites. We are currently preparing to follow up with a summer field programme and get 'boots on the ground' to support our
commitment to our total land package at Georgia Lake."
KEY EXPLORATION HIGHLIGHTS
Ten NQ
1
diamond drill holes totaling 2,115 meters were completed at the MZN deposit.
Highlights of assay results from the ten holes at MZN include:
NC-23-01
3.2 m
(true width) at 0.87% Li
2
O starting from
57.1m
NC-23-02
3.5 m
(true width) at 1.07% Li
2
O starting from
103.0m
NC-23-03
4.0 m
(true width) at 1.08% Li
2
O starting from
162.3m
NC-23-06
4.9 m
(true width) at 0.73% Li
2
O starting from
67.6m
NC-23-07
7.7 m
(true width) at 0.71% Li
2
O starting from
59.6m
NC-23-07
4.3 m
(true width) at 1.42% Li
2
O starting from
139.9m
NC-23-08
3.1 m
(true width) at 1.19% Li
2
O starting from
7.1m
NC-23-09
2.5 m
(true width) at 0.92% Li
2
O starting from
117.8m
Seven NQ diamond drill holes totaling 1,561 meters were completed at McVittie; assay results include:
MV-23-01
6.4 m
(downhole width) at 0.93% Li
2
O starting from
107.4m
MV-23-03
2.1 m
(downhole width) at 1.30% Li
2
O starting from
95.6m
MV-23-05
2.7 m
(downhole width) at 1.66% Li
2
O starting from
59.05m
Rock Tech intends to increase mineral resources at Georgia Lake Project during 2023 and 2024 through a set of phased exploration programmes. The first phase
of this commitment ("Phase I") has been the completion of the winter drill programme at MZN and McVittie.
Rock Tech is also pleased to announce that it has initiated an extensive summer exploration programme ("Phase II") that will focus on prospecting, mapping, and
sampling around high priority targets. The work will be followed by trenching and channel sampling on select prospects in both the Northern Spodumene Pegmatite
Area (NSPA) and Southern Spodumene Pegmatite Area (SSPA).
This work will follow up on the positive results of the 2022 field programme (see Rock Tech's press release dated
January 31, 2023
) which sampled pegmatite
prospects in close proximity to Rock Tech's NI 43–101 compliant mineral resources (refer to Table 3). Figure 1 and Figure 4 illustrate the locations of the high
priority spodumene-bearing prospects at Line 20, Camp 38,
Conway East
, Caral,
Foster Lew
,
Jean Lake
, and Aumacho, where Rock Tech's 2023 summer
exploration programme will be focused. The results from Phase II are expected to generate additional drill targets for a Fall 2023 drill programme ("Phase III").
The Georgia Lake Project, located between
Nipigon
and
Beardmore, Ontario
is comprised of 1,042 hectares of mineral leases and 5,686 hectares of mineral
claims.
SAMPLING AND QA/QC PROCEDURE
Samples were taken across every spodumene-bearing pegmatite and 1 metre into the barren host rock on either side of pegmatite dikes. Sample lengths are
generally around 1 metre, though individual sample length can be determined based on internal zoning of the dikes and the locations of their contacts. Core to be
sampled was cut in half with one half being sent for analysis and the other half remaining in the box for reference. All core is stored at Rock Tech's core facility in
Beardmore, Ontario
. Each sample was put into its own plastic sample bag with a sample tag and closed with zip ties. 16% of the samples that were submitted to
Activation Laboratories Ltd. ("Actlabs") for analysis were QAQC samples. QAQC samples were inserted into the sample stream and consist of a high- and low-
grade lithium standards, blank material, and duplicates. Samples were dropped at Actlabs' preparation laboratory in
Thunder Bay, Ontario
for crushing and
pulverizing, and subsequently were sent to Actlabs' geochemistry laboratory in
Ancaster, Ontario
for analysis of 41 elements using fusion plus ICP-OES or ICP-
MS. Sodium peroxide fusion plus ICP-OES was used to analyze for lithium. Actlabs is independent of the Company.
SCIENTIFIC AND TECHNICAL DISCLOSURE
The scientific and technical disclosure included in this news release has been reviewed and approved by
Jessica Daniel
, P.Geo., Consulting Geologist for the
Georgia Lake Project, a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects. Exploration data was collected and
verified following the guidelines outlined in CIM Mineral Exploration Best Practice Guidelines.
ABOUT ROCK TECH
Rock Tech is a cleantech company with operations in
Canada
and
Germany
on a mission to produce lithium hydroxide for electric vehicle batteries. The Company
plans to build lithium converters at the door-step of its customers, to guarantee supply-chain transparency and just-in-time delivery, beginning with the Company's
proposed lithium hydroxide merchant converter and refinery facility in Guben,
Germany
. To close the most pressing gap in the clean mobility story, Rock Tech has
gathered one of the strongest teams in the industry. The Company has adopted strict environmental, social and governance standards and is developing a
proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its wholly-owned Georgia Lake
spodumene project located in the Thunder Bay Mining District of
Ontario, Canada
, as well as procuring it from other responsibly producing mines. In the years to
come, the Company expects to also source raw material from discarded batteries. Rock Tech's goal: to create a closed-loop lithium production system.
www.rocktechlithium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
C
AUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION
The following cautionary statements are in addition to all other cautionary statements and disclaimers contained elsewhere in, or referenced by, this press
release. Certain information set forth in this press release constitutes "forward-looking information" ("forward-looking information") within the meaning of applicable
Canadian securities laws, which are based on Rock Tech's current expectations, estimates, and assumptions in light of its experience and is perception of
historical trends. All statements other than statements of historical facts may constitute forward-looking information. Often, forward-looking information can be
identified by the use of words or phrases such as "plan", "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as
well as "will", "shall" and all other indications of future tense. All forward-looking information set forth in this press release is expressly qualified in its entirety by
the cautionary statements referred to in this section. In particular, forward-looking information contained in this press release includes: statements regarding the
2022, 2023, and 2024 drilling campaigns and mobilization and prospecting activities and the objectives, results and the benefits thereof; the Company's
expectations regarding the outcome and proof of the expected potential, the Company's intentions with respect to the development and timing thereof and
statements regarding further exploration activities future plans, activities, and schedules relating to such projects and related development; Rock Tech's opinions,
beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects; and plans and objectives of
management for the Company's operations and properties. Forward-looking information is based on certain assumptions, estimates, expectations and opinions of
the Company and, in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made. This
forward-looking information was derived utilizing numerous assumptions regarding, among other things, that the results of the exploration programme will be
indicative of future results; that the way from the 2022 published release on the prefeasibility study (PFS) towards a feasibility study (DFS) will continue as
currently planned; the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and final lithium products; that all
required regulatory approvals and permits can be obtained on the necessary terms in a timely manner; expected growth, performance and business operations;
future commodity prices and exchange rates; prospects, growth opportunities and financing available to the Company; general business and economic conditions;
the costs and results of exploration, development and operating activities; Rock Tech's ability to procure supplies and other equipment necessary for its business;
and the accuracy and reliability of technical data, forecasts, estimates and studies. The foregoing list is not exhaustive of all assumptions which may have been
used in developing the forward-looking information. While Rock Tech considers these assumptions to be reasonable based on information currently available, they
may prove to be incorrect. Forward-looking information should not be read as a guarantee of future performance or results. In addition, forward-looking
information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's
actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information.
Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the risk that Rock Tech will not be able
to meet its financial obligations as they fall due, delays in government approval for the construction and commissioning of the Georgia Lake Project, changes in
commodity prices, Rock Tech's ability to retain and attract skilled staff and to secure feedstock from third party suppliers, unanticipated events and other
difficulties related to construction, development and operation of converters and mines, the cost of compliance with current and future environmental and other
laws and regulations, title defects, competition from existing and new competitors, changes in currency exchange rates and market prices of Rock Tech's
securities, Rock Tech's history of losses, impacts of climate change and other risks and uncertainties discussed under the heading "Financial Instruments and
Other Risks" in Rock Tech's most recently filed Management Discussion and Analysis, a copy of which is filed electronically through SEDAR and is available online
at
www.sedar.com
. Such risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or
achievements to vary materially from the forward-looking information.It can not be guaranteed that actual events, results, performance and/or achievements will
be consistent with the forward-looking information and management's assumptions may prove to be incorrect. This forward-looking information reflects Rock Tech
management's current views as at the date of this press release. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims
any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or
otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based. The
forward-looking information contained herein is presented for the purposes of assisting readers in understanding Rock Tech's plans, objectives and goals and is
not appropriate for any other purposes.
FIGURE 1 | Map showing location of northern spodumene-bearing deposits and prospects.
Rock Tech’s 2023 winter drilling programme focused on the MZN and
McVittie prospects. Summer field exploration will focus on positive sample results from the 2022 field program. (CNW Group/Rock Tech Lithium Inc.)
FIGURE 2 | Map showing location of drill holes completed at MZN in Winter 2023. (CNW Group/Rock Tech Lithium Inc.)
TABLE 1
| Summary of Assay Results for Drill Holes Completed at the MZN Deposit in 2023. GPS Locations are in UTM NAD83 Zone 16N.
Hole ID
Easting
(m)
Northing
(m)
Elevation
(m)
Hole
Length
(m)
Azimuth
Dip
From
(m)
To
(m)
Length
(m)
True
Width
(m)
Li
2
O %
NC-23-01
424852
5477535
379
200
139
-66
57.10
61.00
3.9
3.2
0.87
NC-23-02
424736
5477435
379
251
140
-65
103.00
107.21
4.21
3.5
1.07
NC-23-03
424613
5477530
377
210.5
140
-48
70.67
71.77
1.1
0.8
0.63
162.27
168.33
6.06
4.0
1.08
NC-23-05
424532
5477436
365
221
140
-55
180.80
184.50
3.7
2.8
0.44
NC-23-06
424762
5477590
379
104
140
-55
4.46
6.66
2.2
1.7
0.68
51.82
52.40
0.58
0.4
0.51
61.58
62.66
1.08
0.8
0.58
67.60
74.30
6.7
4.9
0.73
NC-23-07
424992
5477814
379
209
135
-60
59.59
68.43
8.84
7.7
0.71
73.46
78.02
4.56
4.0
0.5
139.90
144.82
4.92
4.3
1.42
NC-23-08
425075
5477803
379
146
135
-60
7.10
10.69
3.59
3.1
1.19
25.42
27.32
1.9
1.6
1.41
84.57
85.50
0.93
0.8
1.26
NC-23-09
425326
5478131
379
210
140
-55
117.82
120.57
2.75
2.5
0.92
NC-23-10
425248
5478236
379
314
140
-53
298.91
299.27
0.36
0.3
1.33
NC-23-11
425379
5478257
369
250
138
-46
100.45
101.45
1.0
1.0
0.37
FIGURE 3 | Map showing location of drill holes drilled at McVittie in 2023. (CNW Group/Rock Tech Lithium Inc.)
TABLE 2
| Summary of Assay Results for Drill Holes Completed at the McVittie Deposit in 2023. GPS Locations are in UTM NAD83 Zone 16N.
Hole ID
Easting
Northing
Elevation
Hole
Length
Azimuth
Dip
From
(m)
To
(m)
Length
(m)
Li2O
%
MV-23-
01
###
####
399
271
270
#
99
99.5
0.5
0.97
102.82
104.8
1.98
0.53
107.4
113.79
6.39
0.93
MV-23-
02
425827
5473351
401
221
274
-69
160
161
1
0.98
MV-23-
03
###
####
387
221
270
#
95.6
97.69
2.09
1.30
133.89
135.96
2.07
0.61
140.87
143.06
2.19
0.72
MV-23-
04
425824
5473440
387
251
270
-65
156.5
157.32
0.82
0.46
MV-23-
05
###
####
386
125
264
#
32.25
35.05
2.8
1.38
59.05
61.77
2.72
1.66
MV-23-
06
425799
5473565
401
251
264
-55
No Significant
assays
MV-23-
07
425807
5473661
396
221
265
-47
No Significant
assays
FIGURE 4 | Map showing total land package of Rock Tech Lithium’s Georgia Lake property and locations. (CNW Group/Rock Tech Lithium Inc.)
TABLE 3
| Overview of the Mineral Resource as of 2022's Prefeasibility Study
2022 MINERAL RESOURCE
Classification
Mining
Cut-off grade Li
2
O (%)
Zone
Tonnes
Li
2
O (%)
Indicated
Open pit
0.3
NSPA OP Indicated
4,242,618
0.88
Indicated
Underground
0.6
NSPA UG Indicated
6,358,650
0.89
Total Indicated
10,601,268
0.88
Inferred
Open pit
0.3
NSPA OP Inferred
245,933
0.78
Inferred
Underground
0.6
NSPA UG Inferred
2,073,069
0.91
Inferred
Underground
0.6
SSPA UG Inferred
1,903,274
1.12
Total Inferred
4,222,276
1.00
Notes:
a.
CIM Definition Standards (2014) were used for reporting the Mineral Resources.
b.
The Qualified Person is Dinara Nussipakynova, P.Geo. of AMC.
c.
Cut-off grade for open pit Mineral Resources is 0.30% Li
2
O.
d.
Open pit Mineral Resources are constrained by the optimization pits shell at a lithium concentrate price of
USD 1,100
/t with metallurgical recovery of
80% and concentrate grade of 6%. Both cut off use same parameters.
e.
The pit optimization was based on following cost assumptions:
i.
Mill feed mining costs of
USD 4.5
/t and waste mining cost of
USD 4.5
/t.
ii.
Processing costs of
USD 25
/t and General and Administration costs of
USD 15
/t.
iii.
Slope angle 45-48 degrees.
f.
Cut-off grade for underground Mineral Resources is 0.60% Li
2
O based on a
USD 45
/t mining cost and processing and G&A the same as the open
pit.
g.
Underground Mineral Resources are not constrained.
h.
Mineralized Density used as 2.69 t/m3.
i.
Waste Density used as 2.75 t/m3.
j.
Drilling results up to
31 July 2022
.
k.
The numbers may not compute exactly due to rounding.
j.
Numbers may not compute exactly due to rounding.
______________________________
1
Note
: Represents core samples of 47.6mm in diameter.
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SOURCE
Rock Tech Lithium Inc.
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%SEDAR: 00005870E
For further information:
André Mandel, phone: +49 (0) 2102 89 41 116; or email: [email protected], Rock Tech Lithium Inc.; 600-777 Hornby
Street, Vancouver BC V6Z 1S4
CO: Rock Tech Lithium Inc.
CNW 01:00e 04-JUL-23