10:48:32 EDT Fri 26 Apr 2024
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Rok Resources Inc
Symbol ROK
Shares Issued 211,580,484
Close 2023-01-25 C$ 0.435
Market Cap C$ 92,037,511
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Rok samples up to 148 mg/L Li at 2nd Mansur test well

2023-01-26 10:20 ET - News Release

Mr. Cameron Taylor reports

ROK RESOURCES INC. ANNOUNCES RESULTS OF SECOND LITHIUM TEST WELL IN THE MANSUR AREA

Rok Resources Inc. has successfully completed a multilayer perforation and swab test of a wellbore strategically located on one of Hub City Lithium Corp.'s subsurface Crown mineral dispositions located in the Mansur area of Saskatchewan. Third party laboratory testing returned lithium concentrations in the Duperow formation of up to 148 mg/L (milligrams per litre).

Cam Taylor, chief executive officer of Rok Resources, commented: "We have the opportunity to develop one of the highest concentration lithium brines within Canada. This result confirms previous high lithium concentrations identified during initial testing in the Mansur area. These thick dolomitic reservoirs with lithium concentrations as high as 148 mg/L should give this project a distinct competitive advantage with respect to capital costs and operating costs per tonne."

Next steps

The test results should allow for the development of a three-layer lithium brine project with high lithium concentrations expected throughout the target intervals. The company expects to develop the three individual zones utilizing horizontal wellbores.

Rok, as manager of operations to Hub City Lithium, is currently finalizing a National Instrument 43-101 resource report for the Mansur area, which is expected to be completed during Q1 2023. In parallel with the resource report, the company has begun working on the development plan and preliminary economic assessment (PEA), which it expects to complete during Q2 2023. In addition, the company is currently working with a third party direct lithium extraction technology provider, expected to process the company's brine through a pilot test as early as Q1 2023, which will assist in the PEA.

The company continues to work on testing and evaluating its Viewfield area, which is 35 miles southeast of the Mansur area and has a footprint of 47,360 net acres of land.

Background

Rok has a 25-per-cent interest in Hub City Lithium, with the balance owned by EMP Metals Corp. Hub City Lithium currently holds 37 permits totalling 212,633 net acres (86,050 hectares) of subsurface Crown mineral dispositions in Saskatchewan. Rok is the manager of operations of Hub City Lithium.

Qualified person

The technical content of this news release has been reviewed and approved by Trevor Else, PGeo, a qualified person for the purposes of National Instrument 43-101.

Quality control and quality assurance

Swab tests were performed by Independent Well Services Inc., with the use of a down hole mechanical swabbing string and associated surface equipment. Samples were collected approximately every two hours and analyzed by Isobrine Solutions. The company uses industry-standard quality assurance and quality control protocols in carrying out its exploration activities.

About Rok Resources Inc.

Rok is primarily engaged in exploring for petroleum and natural gas development activities in southeast Saskatchewan and the Kaybob South area of Alberta. It has offices located in both Regina, Sask., Canada, and Calgary, Alta., Canada.

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