Rock Tech Notifies Vendors of Intent to Proceed with Nogalito Acquisition
Rock Tech Notifies Vendors of Intent to Proceed with Nogalito Acquisition
VANCOUVER, March 12, 2018 /CNW/ - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") [TSX-
V: RCK; Frankfurt: RJIB (WKN: A1XF0V)] is pleased to announce it has completed satisfactory due
diligence on the Nogalito lithium property in Sonora, Mexico. As announced on February 20, 2018, the
Company has entered into a Letter of Intent ("LOI") to acquire, through its wholly-owned subsidiary,
Minerales de Baterias SA de CV, a 100% interest in the Nogalito lithium property in Sonora, Mexico,
subject to regulatory approval.
Lithium-bearing layer at the Nogalito lithium property.
The Company has provided written notice to the property vendors stating its wishes to proceed with the
transaction. Accordingly, Rock Tech has paid US$20,000 to the vendors per the terms of the LOI.
Rock Tech collected five (5) samples from unconsolidated surface sediments in the basin and analyzed
their lithium content. All five samples were anomalous for lithium with assays ranging from 150 ppm to
600 ppm lithium, averaging 292 ppm lithium. US Borax Inc. collected 136 sediment samples in 1990 of
which 108 returned values between 200 ppm and 498 ppm lithium, twenty-seven (27) returned values
between 523 ppm and 968 ppm lithium and one returned a value of 1,166 ppm lithium.
Martin Stephan, Chief Executive Officer of Rock Tech, commented, "The Nogalito project represents a
low-cost acquisition for Rock Tech's shareholders, though our expectations of its potential are high as
past operators have sampled as high as 1,166 ppm lithium and our due diligence samples returned up to
600 ppm lithium. Our short-terms goals will be to work with the relevant authorities to have the claims
granted and develop and execute work programs aimed at confirming the presence of a basin containing
lithium-rich brine."
Additionally, the Company is pleased to announce the continued business relationship with Arriva
Management Inc. ("Arriva") for mineral exploration and technical consulting work. Arriva will continue to
provide technical geologic and strategic consulting to the Company to build upon the Company's
successful exploration efforts.
All scientific and technical information in this news release was reviewed and prepared under the
supervision of Locke B. Goldsmith, P.Eng., P.Geo., an independent Qualified Person to Rock Tech.
About the Nogalito Lithium Project
The Nogalito property is located in a Tertiary age geologic basin with favourable felsic volcanics,
sandstones and siltstones in a volcanoclastic and tuff basinal sequence comprised of lithium-bearing clay
horizons, volcaniclastic sediments, clayey sandstones and sandy and calcareous sediments. These are in
a fault-bounded graben that contains the known lithium in a basin of approximately 16 kilometers long by
5 kilometers wide. The region is geologically similar in nature to deposits in Chile, Argentina and Nevada
with lithium in volcanic rocks around the basin presenting the potential for brine-based lithium discoveries.
Exploration work previously conducted by US Borax Inc., in 1990, exploring for borate, led to the initial
lithium discoveries. The Nogalito property has highly anomalous concentrations of lithium with values
exceeding 1,000 ppm lithium in rock chip sampling of 1 metre channels across exposed stratigraphy. Of
the US Borax Inc. sediment sampling, 108 samples collected during their exploration program returned
values between 200 ppm and 498 ppm lithium, twenty-seven (27) samples returned values between 523
ppm and 968 ppm lithium and one sample returned a value of 1,166 ppm lithium.
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.
Rock Tech is the only exploration company in the Georgia Lake region of Ontario with an NI 43-101
resource estimate. The resource estimate shows an 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. 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.
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.
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For further information: Brad Barnett, Chief Financial Officer, 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]
CO: Rock Tech Lithium Inc.
CNW 09:00e 12-MAR-18