Rock Tech Begins Preliminary Economic Assessment at Georgia Lake
TSX VENTURE: RCK
VANCOUVER, June 4, 2018 /CNW/ - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") [TSX-V: RCK; Frankfurt: RJIB (WKN: A1XF0V)] is pleased to announce that it has engaged DMT GmbH & Co. KG ("DMT") to complete a Preliminary Economic Assessment ("PEA") at its flagship 100%-owned Georgia Lake lithium property in the Thunder Bay Mining District of Northwest Ontario, Canada.
The PEA will be based on the updated resource estimate, due for release shortly, which is expected to include an increase in total tonnage and an upgrade in resource classification relative to the NI 43-101 resource estimate completed in 2012. The new resource estimate will include results of the work Rock Tech has invested in during the past 18 months. The updated resource estimate is also being prepared by DMT, as disclosed in a news release dated March 20, 2018.
"DMT possesses full-service capabilities including resource definition, mining, processing, engineering and geotechnical expertise," said Martin Stephan, Chief Executive Officer of Rock Tech. "DMT's well-qualified personnel with worldwide project experience and in-depth knowledge of international environmental, technical and financial requirements for the evaluation of mineral projects make them the perfect partner for the development of the Georgia Lake project."
"We have made successful investments over the past few years at Georgia Lake including the first-ever NI 43-101 resource estimate, the successful bench-scale production of high-grade spodumene concentrate and battery-grade lithium carbonate and the discovery of several additional lithium-bearing pegmatites," added Dirk Harbecke, the chairman of Rock Tech's board of directors. "The commissioning of a PEA represents a huge leap forward in the development of the Georgia Lake property. We are happy to work with DMT on it, a respected international institution which huge experience in bringing projects into production."
About DMT GmbH & Co. KG
DMT is a global consortium, providing interdisciplinary services in the Mining, Oil & Gas, Civil Engineering & Infrastructure and Plant Engineering markets with a client roster that includes Anglo American, BHP Billiton, OMV, E.ON, Schlumberger, De Beers and leading institutes such as The World Bank and the Asian Development Bank. DMT occupies 30 offices worldwide and belongs to the German certification agency TÜV NORD GROUP. To date, DMT has completed several thousand projects in over 150 countries, working in over 25 countries in a typical year.
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. The Georgia Lake Lithium project aims to develop a lithium-rich pegmatite vein deposit for the purpose of mining. The deposit was discovered in the Thunder Bay Mining district in northwestern Ontario/Canada, close to the Lake Superior, as early as 1955. Rock Tech Lithium has been working increasingly on the property since 2016 – in a market environment, where the trend for electric cars on the international market has been rising steeply for years. Analysts expect that more than 25% of newly sold cars in 2025 will be electrified, with the demand for batteries and therefore battery metals such as lithium expanding rapidly.
On behalf of the Board of Directors of the Company,
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.