• Freitag, 15 November 2024
  • 12:37 Uhr Frankfurt
  • 11:37 Uhr London
  • 06:37 Uhr New York
  • 06:37 Uhr Toronto
  • 03:37 Uhr Vancouver
  • 22:37 Uhr Sydney

Rock Tech Lithium Inc. Commences Field Program at Georgia Lake

27.07.2012  |  The Newswire
Vancouver, British Columbia, Canada, July 27, 2012 – Rock Tech Lithium Inc. (TSX-Venture: RCK; Frankfurt: RJIA; Pink Sheets: RCKTF) (the “Company” or “Rock Tech”) is pleased to announce that it has commenced exploration field exploration program at its Georgia Lake project.

The objective of the field program is to update the quality of the recently announced indicated resource estimates of 720,000 tonnes at 1.05% lithium oxide (“Li2O”) and inferred resource estimates of 8.8 million tonnes at 1.03% Li2O on July 25th, 2012, as completed by Caracle Creek International Consultants (“CCIC”), an independent geological consulting company.

The field program includes mapping the surface and subsurface orientation of diabase dikes, re-logging the drill cores collected during the first two phases of the Georgia Lake exploration program using a magnetic susceptibility meter and re-confirming the mineralogy to distinguish between the mica schist and the diabase. The diabase dyke outcrops will be mapped using a Beep Mat magnetic instrument and will be followed by trenching at suitable intervals. The field program was recommended by CCIC as the interpretation of the data from the Company’s Phase 2 exploration program did not sufficiently support the location of diabase intersections in historic drill holes. Subject to the interpretation of the data from the current field program, the Company expects to update the quality of the resource estimates reported on July 25th, 2012.

In other news, the TSX-Venture Exchange has accepted for filing an option agreement dated April 20, 2012 between Rock Tech Lithium Inc. and Unimera Holding Public Ltd. (for details of the Option Agreement, please refer to the news release dated May 30th, 2012). Pursuant to the terms of the agreement, the Company has the option to acquire a 100% interest in a graphite property in the Buckingham Region of Lochaber Township, 45 kilometres to the northeast of Gatineau, Quebec consisting of 32 mineral claims covering 1,922.75 hectares.

Additionally, Rock Tech Lithium Inc.’s shareholders approved all resolutions put before them by management at the Annual and Special Meeting held on July 24, 2012. The approved resolutions included the receipt and consideration of Audited Financial Statements for the fiscal year ended December 31, 2011, together with Auditor’s Reports, and the receipt and consideration the Company’s Report to Members; the appointment and remuneration of Dale Matheson Carr-Hilton Labonte LLP, as Auditors of the Company for 2012; setting of the number of Directors at five for 2012; election of Eunho Lee, Dirk Harbecke, Christian Schlag, Afzaal Pirzada and Victor Goncalves to hold office until the next annual meeting of the Company; and confirmation of the Company’s stock option plan.

The technical information contained in this news release has been reviewed by Afzaal Pirzada, P.Geo., Vice President, Exploration of the Company and a qualified person as defined by NI 43-101.


About the Georgia Lake Lithium Project

Rock Tech’s 100% owned Georgia Lake property is comprised of 81 mining claims and 81 mining leases covering 12,681 hectares. The property, located about 145 kilometres northeast of the city of Thunder Bay, Ontario, has a cumulative historical resource estimate of 9,777,807 tons (or 8.87 million tonnes) with a weighted average grade of 1.18% Li2O. To date, the Company has confirmed 5.4 million tons (or 4.90 million tonnes) of the original historical resource estimate with a weighted average grade of 1.04% Li2O, by estimating the stated current indicated and inferred resource estimates. The sources of all historical resource estimates are the Ontario Department of Mines Geological Report No. 31 titled, “Geology and Lithium Deposits of Georgia Lake Area”, by E.G. Pye, (1965), and a report titled, “Report on the Geology of the MNW Property”, by B. Zayachkivsky (1986). The historical resource estimates included in the report are based on assessment reports filed by previous operators and other available sources. Over 200 drill holes with approximately 33,000 metres of diamond drilling were completed on the property by previous operators in the late 1950s. Based on the results of recent confirmatory exploration work on the property, the Company believes that the historic estimate is relevant to an appraisal of the merits of the property and forms a reliable basis upon which to develop future exploration programs. The Company intends to verify the remainder of the historical estimate by conducting further exploration and using the historical drilling and trenching data; however, at present, a qualified person has not done sufficient work to classify the historical estimate as current mineral resource and it is uncertain if further exploration will result in the remaining historical estimate being upgraded to a current mineral resource. The Company is not treating the historical estimate as current mineral resources.


On behalf of the Board of Directors,

Eunho Lee
Director, President and CEO



For more information, please contact:

Sean Davis, Investor and Public Relations
Rock Tech Lithium Inc.
789 West Pender Street, Suite 1205
Vancouver, B.C., V6C 1H2
Telephone: (604) 688-1140, ext. 227
Facsimile: (604) 688-1173
Email: sdavis@rocktechlithium.com
www.rocktechlithium.com



Disclaimer and Cautionary Statement Regarding Forward-Looking Information

Neither the 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 press release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.

The historical resource estimate cited in this press release are taken from Ontario Department of Mines Geological Report No. 31 titled, “Geology and Lithium Deposits of Georgia Lake Area”, by E.G. Pye, 1965. The author of the report took resource estimates from the assessment reports filed by previous operators, and other available sources. The Company believes that the estimate is relevant to an appraisal of the merits of the property because it was based on drilling, trenching and other exploration work in each claim block on the property, and because there is no evidence of any subsequent resource estimation work on the property. No additional recent data on resource estimates are available in the public domain. No additional work has been completed by a qualified person to classify the historical resource estimate as a current resource or reserve. The Company is not treating the historical resource as a current mineral resource or reserve. The historical resource estimate should not be relied on and does not comply with NI43-101 standards. The effective date of the resource estimate disclosed in this news release is April 10, 2012.

Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!



Mineninfo
Rock Tech Lithium Inc.
Bergbau
A1XF0V
CA77273P2017
Copyright © Minenportal.de 2006-2024 | MinenPortal.de ist eine Marke von GoldSeiten.de und Mitglied der GoldSeiten Mediengruppe
Alle Angaben ohne Gewähr! Es wird keinerlei Haftung für die Richtigkeit der Angaben und der Kurse übernommen!
Informationen zur Zeitverzögerung der Kursdaten und Börsenbedingungen. Kursdaten: Data Supplied by BSB-Software.