RKL More than Triples Lithium Claystone Portfolio in Juab County, Utah
LC247418-1
ROCKLAND RESOURCES MORE THAN TRIPLES LITHIUM CLAYSTONE
PORTFOLIO IN JUAB COUNTY, UTAH
Vancouver, British Columbia, September 20th, 2022, Rockland Resources Ltd. (the "Company"
or "Rockland") (CSE: RKL) is pleased to report a major expansion of the Company’s claim
position in west-central Utah directed at lithium mineralization hosted in clay or claystone
volcanic tuff units. An additional 1,525 claims have been located in 4 property blocks comprising
30,500 acres (12,343 ha). When combined with the original Lithium Butte Property, where
sampling has returned values up to 4,080 parts per million lithium (ppm Li), the Company’s
holdings total 2,076 claims, comprising 41,520 acres (16,219 ha).
• Lithium Butte and area properties are positioned as Utah's leading claystone
lithium project
• District scale (41,520 acres) land position prospective for lithium in mining
friendly Utah, USA
• Utah is No 3 USA location on the 2021 Fraser Institute list, exceptional property
location, near highways, power and manpower
• Lithium mineralized claystones as well as lithium in brine potential
• Similar geology to Nevada’s hotbed of activity in the Clayton Valley – Tonopah
area
• Highly elevated lithium content in the primary Spor Mtn Formation Volcanic
Beryllium-tuff member
• Claystone alteration has further enriched lithium concentrations
• Early channel sampling has provided grades of 25.2 metres at 1,388 ppm lithium
including 8 metres of 2,155 ppm lithium within the channel
• Initial grab samples at Lithium Butte provided values of 1,200 ppm up to 4,080
ppm Lithium – a great starting point
• Properties also contain beryllium (Be) mineralization with values over 4,000 ppm
Be and are contiguous with producing Materion Corp. (MTRN – NYSE) Be mine
• On site company testing facility set up with LIBS analyzer and geologists to
provide much faster turnaround time to help move the project move forward fast
LC247418-1
All claims are located in Juab County, Utah, and are interpreted to be prospective for lithium
mineralization, based on similarities to the Lithium Butte Property, where Company sampling and
a historic (2010) database indicate widespread lithium mineralization hosted in clay or claystone
volcanic tuff units. The newly acquired claims are located about 10 kilometres North-Northeast of
the northwestern portion of the Lithium Butte property, east of the Fish Springs Mountain Range.
The 4 claim blocks comprise the North Spor, GP, Cane Springs and Fish Springs Flat properties
adjoin to the north and west of the Spor Mountain beryllium mine owned by Materion
Corporation (NYSE: MTRN), the sole producer of beryllium ore in the United States. Rockland’s
primary exploration target is claystone hosted lithium mineralization, however, the Fish Springs
Flat Property covers an area interpreted to be prospective for lithium brine mineralization (Mills,
S.E. and Rupke, A., 2020, Utah Geological Survey, Circular 129).
Dr. Richard Sutcliffe, Rockland’s President stated “Rockland has had the advantage of being an
early mover in the acquisition of lithium exploration properties in the Basin and Range Geological
Province of western Utah. The Company has acquired an extensive land position in two adjacent
basins that both have the hallmarks of the lithium claystone mineralization model including
lithium enriched volcanic units, geothermal fluid activity, restricted basins, claystone horizons,
and favourable structure. Our field team is currently conducting geological mapping and soil
surveys that utilize an in-house LIBS analyzer capable of lithium analysis to rapidly evaluate
targets for future drilling.”
The Company also announces that pursuant to an agreement dated August 5th, 2022 between the
Company and Multiple Metals Resources Ltd. (“MMRL”), the Company has agreed to grant
MMRL a 10% carried interest in the Lithium Butte (60 core claims) Property. The Company will
bear all exploration costs in relation to the mineral interests until such time as the Company has
LC247418-1
incurred $2.5 million in exploration expenditures, after which all exploration costs will be shared
on a pro rata basis between the Company and MMRL, subject to standard dilution conditions. If
MMRL’s interest is diluted to less than 2%, it will convert to a 0.5% net smelter returns royalty.
MMRL is an arm’s length party to the Company. The 60 claims represent 1,200 acres (486 ha) of
the total 41,520 acres (16,219 ha).
Additionally, the Company has agreed to grant MMRL and Helvellyn Capital Corp. a 1.5% net
smelter returns royalty over any mineral claims that it acquires in a specified portion of Juab
County, Utah. The net smelter returns royalty is subject to a 0.5% buyback right in consideration
of $1 million. Helvellyn Capital Corp. is a private Ontario company of which Richard Sutcliffe,
the President and a director of the Company, is the principal.
Program QA/QC – Previous and recent sampling on the Lithium Butte Property was carried out
by Dr. Richard Sutcliffe, P. Geo., a Qualified Person as defined in NI43-101, who is also
responsible for reviewing and approving the geological contents of this news release. Samples
were transported in sealed bags by the Project Manager and shipped to Activation Laboratories
("Actlabs") in Ancaster, Ontario. Actlabs is an independent ISO/IEC 17025 certified laboratory.
Li analysis will be performed using sodium peroxide fusion and inductively coupled plasma mass
spectrometry (ICP-MS).
About Rockland Resources Ltd.
Rockland Resources is engaged in the business of mineral exploration and the acquisition of
mineral property assets for the benefit of its shareholders. In addition to the Utah Lithium
Property, the Company is acquiring the 41,818-hectare Elektra claystone project concessions that
are contiguous with Gangfeng Lithium’s Sonora Lithium Clay Project located in Sonora, Mexico.
The Company also holds and option to earn a 100-per-cent interest in the Cole Gold Mines
property, located in Ball township, Red Lake mining division, Ontario. The Cole Property hosts
high-grade gold mineralization in a classic Red Lake-type structurally controlled gold deposit
environment.
On Behalf of the Board of Directors
Dr. Richard H. Sutcliffe, P.Geo.
President and Director
For further information, please contact:
Mike England
Email: [email protected]
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of
this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events
or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect
management’s current beliefs and are based on assumptions made by and information currently available to the Company.
Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and
uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made
as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation
to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release
LC247418-1
are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at
WWW.SEDAR.COM).