VANCOUVER, British Columbia, June 17, 2019 (GLOBE NEWSWIRE) — Rock Tech Lithium Inc. (the “Company” or “Rock Tech”) (TSX-V: RCK; Frankfurt: RJIB) is pleased to announce that it has engaged KBM Resources Group (“KBM”) to complete a LiDAR and high-resolution imagery survey at its 100%-owned Georgia Lake lithium project in Ontario, Canada.
The aerial acquisition of LiDAR and digital photography will cover the Nama Creek main zone and adjacent areas of the Georgia Lake lithium project. The LiDAR survey, with a relatively high resolution of 10 laser points per square metre and an absolute accuracy of 10 cm vertical and 20 cm horizontal, will produce LAS files with classified ground points including a bare earth model and georeferenced orthoimagery.
“The ideal time to fly this survey is after the snow melt and before leaf-out,” commented Martin Stephan, Rock Tech’s Chief Executive Officer. “These conditions, combined with a favourable regional weather forecast, shall make for a successful LiDAR survey.”
“Obtaining the LiDAR and digital photography data is an important next step for the development of the Georgia Lake lithium project,” said Dirk Harbecke, Rock Tech’s chairman. “This high-resolution imagery will be used to finalize our project footprint including the optimization of access roads and infrastructure planning, including the locations of surface and processing facilities and tailings ponds.”
All aerial survey and analysis work on this project will be completed by qualified KBM personnel. Acquisition will be done with KBM-owned equipment including aircraft. Processing and quality control will be completed at KBM’s Thunder Bay location that is equipped with state-of-the-art hardware and software.
All scientific and technical information in this news release concerning the Georgia Lake lithium property was reviewed and approved by Karl-Stephan Peters, EurGeol 787, a qualified person (QP) as defined under National Instrument 43-101.
About the Georgia Lake Lithium Project
The Georgia Lake project is a lithium-rich pegmatite vein deposit with measured and indicated resources of 6.57 million tonnes grading 1.01% Li2O in addition to inferred resources of 6.72 million tonnes grading 1.16% Li2O. The first PEA for the project, focused exclusively on the main resource area hosting less than 80% of total defined resources, was published in October 2018. Highlights from the PEA included an NPV of $312 million and an IRR of 62.2%.
On behalf of the Board of Directors,
Director, Chief Executive Officer
For further information, please contact:
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
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/