VANCOUVER, British Columbia, July 15, 2019 (GLOBE NEWSWIRE) -- Rock Tech Lithium Inc. (the "Company" or “Rock Tech”) (TSX-V: RCK; Frankfurt: RJIB) is pleased to provide an update on the initial baseline studies announced in news releases on July 8 and July 10, 2019, led by Northern Bioscience Ecological Consulting (“Northern Bioscience”) at the Company’s 100%-owned Georgia Lake lithium project in Ontario, Canada.
Northern Bioscience has conducted a whip-poor-will survey and no whip-poor-wills were detected. A bat recorder was deployed near the mine shaft and bird recorders were deployed in three locations about the property. Additionally, temperature loggers were deployed at two streams related to fish and aquatic habitat surveys.
“We are pleased that the initial surveys did not detect any whip-poor-wills, a bird deemed as ‘threatened’ under the Endangered Species Act,” said Dirk Harbecke, Rock Tech’s chairman. “We look forward to receiving and reporting additional results from the initial baseline studies in the near future.”
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 lithium 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 which hosts less than 80% of total defined resources to date, was published in October 2018. Highlights from the PEA included an NPV of $312 million and an IRR of 62.2%. While the Georgia Lake lithium project has received extensive exploration and development investment over the years, there remains extensive areas for future exploration and discovery located both within and adjacent to the main resource area.
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.