Rock Tech Completes Field Program at Georgia Lake
(via Thenewswire.ca)
Vancouver, British Columbia, Canada, August 29, 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 completed its field exploration program at its Georgia Lake project.
The objective of the field program is to update the quality of the NI 43-101-compliant resource estimate announced on July 25, 2012, which included:
-720,000 tonnes at 1.05% lithium oxide ("Li2O") in the indicated category, and
-8.8 million tonnes at 1.03% Li2O in the inferred category.
The focus of the field program was the Nama Creek Main Zone North pegmatites and included 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 dikes were mapped using a Beep Mat magnetic instrument and digging 13 surface trenches at suitable intervals to expose the outcrops. Caracle Creek International Consultants ("CCIC") provided the personnel to supervise the field program and is currently interpreting the exploration data and updating the resource estimate. CCIC has created an exploration database including assays and drill core lithology and rock outcrops which has been linked directly to the geological modeling and resource estimation software. The Company will be releasing an updated NI 43-101-compliant resource estimate in the coming weeks.
Additionally, the Company has cancelled the Option Agreement announced on March 26, 2012, with Lithea Inc. and its wholly-owned subsidiary Lithea Argentina SA (the "Vendor" or "Lithea") to purchase a 100% interest in two lithium brine projects located in the Salar de Incahuasi and the Salar de Pular (the "Option Properties") in northwest Argentina. Management made the decision to continue to focus on developing its Georgia Lake lithium project and its recently acquired graphite project (Lochaber Graphite Project) in the Buckingham area of western Quebec. The mandate of Rock Tech remains developing mineral projects for the high tech battery sector and, as such, the Company continues to actively pursue such opportunities.
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.
On behalf of the Board of Directors,
"Eunho Lee"
Eunho Lee
Director, President and CEO
For more information, please contact:
Eunho Lee
Director, President and CEO
789 West Pender Street, Suite 1205
Vancouver, B.C., V6C 1H2
Telephone: (604) 688-1140
Facsimile: (604) 688-1173
Email: elee@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 effective date of the resource estimate disclosed in this news release is April 10, 2012.
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