VANCOUVER, Feb. 26, 2018
VANCOUVER, Feb. 26, 2018 /CNW/ - Rock Tech Lithium Inc. (the "Company" or "Rock Tech") [TSX-V: RCK; Frankfurt: RJIB (WKN: A1XF0V)] is pleased to announce check-sample assay results from its due diligence program for the Nogalito lithium property in Sonora, Mexico. The Company has entered into a Letter of Intent ("LOI") to acquire, through its wholly-owned subsidiary, Minerales de Baterias SA de CV, a 100% interest in the Nogalito lithium property in Sonora, Mexico, subject to satisfactory due diligence and regulatory approval.
Rock Tech collected five (5) samples from unconsolidated surface sediments in the basin and analyzed their lithium content. All five samples were anomalous for lithium with assays ranging from 150 ppm to 600 ppm lithium, averaging 292 ppm lithium.
Martin Stephan, Chief Executive Officer of Rock Tech, commented, "The sediment samples are in line with our high expectations based on previous sampling completed by US Borax Inc., which collected 136 samples (with a high of 1,166 ppm) during the 1990's while exploring for borate, and by the property vendors whose own sampling showed lithium concentrations of 381 ppm and 590 ppm. We have now confirmed that the volcanic tuffs and sediments contain anomalous lithium values at the surface, supporting the hypothesis that a concentration of lithium in brine exists in the basin at depth."
All scientific and technical information in this news release was reviewed and prepared under the supervision of Locke B. Goldsmith, P.Eng., P.Geo., an independent Qualified Person to Rock Tech.
About the Nogalito Lithium Project
The Nogalito property is located in a Tertiary age geologic basin with favourable felsic volcanics, sandstones and siltstones in a volcanoclastic and tuff basinal sequence comprised of lithium-bearing clay horizons, volcaniclastic sediments, clayey sandstones and sandy and calcareous sediments. These are in a fault-bounded graben that contains the known lithium in a basin of approximately 16 kilometers long by 5 kilometers wide. The region is geologically similar in nature to deposits in Chile, Argentina and Nevada with lithium in volcanic rocks around the basin presenting the potential for brine-based lithium discoveries.
Exploration work previously conducted by US Borax Inc., in 1990, exploring for borate, led to the initial lithium discoveries. The Nogalito property has highly anomalous concentrations of lithium with values exceeding 1,000 ppm lithium in rock chip sampling of 1 metre channels across exposed stratigraphy. Of the US Borax Inc. sediment sampling, 108 samples collected during their exploration program returned values between 200 ppm and 498 ppm lithium, twenty-seven (27) samples returned values between 523 ppm and 968 ppm lithium and one sample returned a value of 1,166 ppm lithium.
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.
Rock Tech is the only exploration company in the Georgia Lake region of Ontario with an NI 43-101 resource estimate. The resource estimate shows an indicated resource estimate of 3.19 million tonnes grading 1.10% lithium oxide in addition to an inferred resource estimate of 6.31 million tonnes grading 1.00% lithium oxide. Further, the Company has completed metallurgical testing on a bulk sample demonstrating the ability to produce both a high-grade spodumene concentrate and battery-grade lithium carbonate ("Li2CO3"). The spodumene-bearing pegmatites of the Georgia Lake area were originally discovered in 1955.
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.
SOURCE Rock Tech Lithium Inc.
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Brad Barnett, 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, Email: email@example.comCopyright CNW Group 2018