Rock Tech Receives Data from KBM Resources Group for LiDAR Survey at Georgia Lake
TSX VENTURE: RCK
VANCOUVER, British Columbia, July 22, 2019 (GLOBE NEWSWIRE) -- Rock Tech Lithium Inc. (the "Company" or “Rock Tech”) (TSX-V: RCK; Frankfurt: RJIB) is pleased to announce that, further to a news release on June 17, 2019, it has received the data from KBM Resources Group (“KBM”) who completed 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 covered the Nama Creek main zone and nearby regions of the Georgia Lake lithium project owned by Rock Tech. The LiDAR survey had a relatively high resolution of 10 laser points per square metre and has an absolute accuracy of 10 cm vertical and 20 cm horizontal.
“This high-resolution imagery is very valuable and will be used to finalize our project footprint and optimize access roads and infrastructure planning, including the locations of surface and processing facilities and tailings ponds,” said Dirk Harbecke, Rock Tech’s chairman. “Over 200 GB of DEM, LAS and TIFF files with classified ground points, including a bare earth model and georeferenced orthoimagery, have been received and are undergoing additional interpretation and compilation.”
All aerial survey and analysis work on this project were completed by qualified KBM personnel. Acquisition was done with KBM-owned equipment including aircraft. Processing and quality control were 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 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.