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Rock Tech Lithium Inc (2)
Symbol RCK
Shares Issued 84,338,803
Close 2022-10-07 C$ 2.78
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Rock Tech drills 9.1 m of 0.96% Li2O at Georgia Lake

2022-10-07 09:33 ET - News Release

Mr. Robert MacDonald reports

ROCK TECH LITHIUM COMPLETES 2021 - 2022 DRILL PROGRAM AT GEORGIA LAKE

Rock Tech Lithium Inc. has released the final results from the company's recently completed 2021/2022 drill program at its 100-per-cent-owned Georgia Lake lithium project in the Thunder Bay mining district of Ontario.

Rock Tech is pleased to announce the final results from its completed 2021/2022 drill program. The drill program was designed to support the company's continuing prefeasibility study in respect of the Georgia Lake project, which the company expects to publish in the fourth quarter of 2022. The final drill results are from exploration drilling completed during the winter and spring of 2022. Commenting on the drill program, Robert MacDonald, general manager of the Georgia Lake project, said, "Rock Tech is pleased to conclude this phase of our drill program, and with that, we are looking forward to the completion of our prefeasibility study later this year while continuing to progress permitting work in respect of the Georgia Lake project."

The objective of the drill program was to increase the confidence in the current mineral resource estimate in respect of the Georgia Lake project and to upgrade the resource classification from predominantly inferred resources to predominantly indicated resources, as well as test potential extensions of the mineral resource down dip and along strike of the deposits. Assay results from the initial 70 holes drilled during the 2021/2022 drill program were announced by the company on Jan. 12, 2022, and June 30, 2022, respectively.

In addition to the drill program, Rock Tech is also pleased to announce that it executed a successful mapping and prospecting program commenced in summer 2022 at the Georgia Lake project in areas both proximal to known spodumene-bearing pegmatite deposits and in underexplored areas within its 6,728-hectare property. The Georgia Lake project, located between Nipigon and Beardmore, Ont., comprises 1,042 hectares of mineral leases and 5,686 hectares of mineral claims. Since the start of the drill program in 2021, the company has completed a total of 23,200 metres of diamond drilling that focused on five spodumene pegmatite deposits known as the Main Zone North (MZN), Conway, Main Zone Southwest (MZSW), Harricana and Line 60.

Key exploration highlights:

  • Forty-six NQ diamond drill holes totalling 13,829 metres were completed at the MZN deposit.
  • Thirty-five NQ diamond drill holes totalling 5,943 metres were completed at Conway.
  • Sixteen NQ diamond drill holes totalling 3,437 metres were completed at MZSW, Harricana and Line 60.
  • Significant assay results from remaining 27 holes Rock Tech have been waiting for lab results include:
    • MZSW deposit:
      • MZSW-21-02L 9.1 metres (true width) at 0.96 per cent Li2O (lithium oxide) starting from 178 m;
    • MZN deposit:
      • NC-22-16: 2.2 m (true width) at 1.12 per cent Li2O starting from 344.26 m;
      • NC-22-20: 5.85 m (true width) at 1.06 per cent Li2O starting from 145.23 m;
      • NC-22-21: 2.58 m (true width) at 1.07 per cent Li2O starting from 312.1 m;
    • Conway deposit:
      • CON-21-04: 2.48 m (true width) at 0.56 per cent Li2O starting from 148.1 m;
      • CON-22-27: 3.52 m (true width) at 1.39 per cent Li2O starting from 75 m;
      • CON-22-32: 3.44 m (true width) at 1.14 per cent Li2O starting from 97 m.
  • As previously announced (June 30, 2022), the drill program has extended mineralization beyond the limits of previous drilling at MZN and Conway (see details below), and also identified a new mineralized zone south of the MZN deposit. Significant assay intersections from the new zone include:
    • NC-22-17: 3.25 m (true width) at 0.92 per cent Li2O starting from 117.27 m;
    • NC-22-26: 2.97 m (true width) at 1.67 per cent Li2O starting from 67.1 m;
    • NC-22-30: 2.32 m (true width) at 1.05 per cent Li2O starting from 239 m.

Details about the Main Zone North drilling

The MZN deposit contains multiple stacked pegmatite dikes that are grouped into the northern and southern pegmatite systems at MZN. Spodumene mineralization at MZN strikes at 235 degrees for over one kilometre and dips 60 degrees to the northwest. At MZN, the drill program extended spodumene mineralization for 50 to 100 metres down dip of known pegmatites for about 300 metres along strike on the eastern side of the deposit. A new mineralized zone was also discovered 150 to 300 metres south of the MZN deposit where historic drill holes and mapping showed sporadic spodumene mineralization.

Details about the Conway drilling

The Conway deposit hosts one main pegmatite dike with spodumene mineralization striking at 210 degrees for 800 metres and dips 70 degrees to the northwest. The 2021/2022 drilling at Conway extended spodumene mineralization for 100 metres along strike to the south, to the 75 metres level.

Details about drilling at Main Zone Southwest

The MZSW deposit, located one km to southwest of MZN deposit, hosts three parallel to subparallel spodumene pegmatites that strike at 235 degrees for 300 metres, dipping 70 degrees to the northwest.

Sampling and quality assurance/quality control procedure

Samples were taken across every spodumene-bearing pegmatite and one metre into the barren host rock on either side of the dikes. Sample lengths were around one metre, though individual sample length was 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, Ont. Each sample was put into its own plastic sample bag with a sample tag and closed with zip ties. About 13 per cent of the samples submitted to Activation Laboratories Ltd. (Actlabs) for analysis were QA/QC samples that were inserted into the sample stream and consist of a high- and low-grade lithium standards, blank material and duplicates. Samples were sent to Actlabs' preparation laboratories in Geraldton and Thunder Bay, Ont., for crushing and pulverizing, and were subsequently sent to Actlabs' geochemistry laboratory in Ancaster, Ont., for analysis of 41 elements using fusion plus inductively coupled plasma optical emission spectroscopy or inductively coupled plasma mass spectrometry. Analysis for lithium was completed using a sodium peroxide fusion plus ICP-OES. Actlabs is independent of the company.

Scientific and technical disclosure

The scientific and technical disclosure included in this press release has been reviewed and approved by Amanuel Bein, PGeo, chief exploration geologist of the Georgia Lake project, a qualified person under National Instrument 43-101 Standards of Disclosure of Mineral Projects. Exploration data were collected and verified following the guidelines outlined in CIM Mineral Exploration Best Practice Guidelines.

About Rock Tech Lithium Inc.

Rock Tech is a cleantech company on a mission to produce lithium chemicals for electric vehicle batteries. The company aims to serve automotive customers with high-quality lithium hydroxide. Rock Tech plans to build high-tech lithium converters at the doorstep of the European and North American automotive industries, to provide customers with supply chain transparency and just-in-time delivery. 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 ESG (environmental, social, 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 own mineral project in Canada as well as procuring it from other responsibly producing mines. In the years to come, the company expects to also source raw materials from discarded batteries. Rock Tech's goal: to create a closed-loop lithium production system.

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