Mr. Eunho Lee reports
ROCK TECH ANNOUNCES LITHIUM RESOURCE ESTIMATE AT ITS GEORGIA LAKE PROJECT
Rock Tech Lithium Inc. has received an initial National Instrument 43-101-compliant resource estimate of 6.72 million tonnes grading 1.11 per cent lithium oxide (Li2O) on its 100-per-cent-owned Georgia Lake project located in the Thunder Bay mining district of Ontario.
The resource estimate, based on the spodumene-bearing pegmatite dikes located on the Nama Creek and Conway claim blocks, has resulted in increases in both the tonnage and the grade over historic estimates by 21 per cent and 8 per cent, respectively. The historic resource on the Nama Creek and parts of the Conway claim blocks that were subject to the drill program completed in the spring of 2011 contained 5.54 million tonnes grading 1.03 per cent Li2O of the total 9.78 million tonnes grading 1.18 per cent Li2O. The NI 43-101-compliant resource estimate on the same area contains 6.72 million tonnes grading 1.11 per cent Li2O. The deposits remain open in all directions and at depth and are currently being further explored.
The results of the initial independent resource estimate for the Georgia Lake project are summarized below:
- Indicated mineral resource of 2.36 million tonnes at 1.17 per cent lithium oxide;
- Inferred mineral resource of 4.36 tonnes at 1.08 per cent lithium oxide;
- Total indicated and inferred mineral resource of 6.72 million tonnes at 1.11 per cent lithium oxide.
Company president and chief executive officer, Eunho Lee, commented: "The results of the initial NI 43-101 resource estimate bolsters our confidence in the historical exploration data. We are encouraged that the compliant resource is more than 20 per cent larger than the historic resource. Our strategy now shifts towards expanding the resource at Georgia Lake, more specifically the Nama Creek claim block, and, beyond that, confirming the balance of the historic resource and completing a preliminary economic assessment. To that end, we have developed an exploration program, including both step-out and confirmatory drill holes, that we will begin executing in the fourth quarter of 2011."
The company is also pleased to announce the commencement of its 2011 to 2012 exploration program. The goal of the exploration program is to expand the resource by conducting step-out drilling on the Nama Creek claim block in addition to drilling confirmatory holes on strike extensions on known pegmatitie dikes on the property. A total of 10,000 metres of diamond core drilling will be performed during the program, which may also include holes to a depth of 600 metres. A drill contract for the first 4,000 metres of NQ-sized diamond core drilling has been awarded to Cobra Drilling of Thunder Bay, Ont.
About Rock Tech's initial NI 43-101 resource estimate
Caracle Creek International Consulting, an independent, internationally based professional geological and geophysical consulting company, compiled the resource estimate using 97 historical drill holes in addition to 39 drill holes from the company's 2009 and 2011 drill programs. Additionally, of the 55 channel samples included in the resource estimate, 44 were cut by Rock Tech in 2011. The geological model developed by CCIC was based upon an exploration database housing assay and drill core lithology data. In the model, three-dimensional wire frames (solids), representing the mineralized zones within the spodumene-bearing pegmatite dikes, were constructed and used to constrain (domain) the tonnage and grade estimation. A cut-off grade of 0.75 per cent Li20 was used. A specific gravity, based on the company's 2010 to 2011 exploration program, of 2.75 grams per cubic centimetre was used in the resource estimation.
The resource estimate was prepared by Jason Baker, PEng, a geological engineer with CCIC and an independent qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The NI 43-101 technical report in respect of the mineral resource estimate disclosed herein will be filed on SEDAR within 45 days of the date of this news release.
Afzaal Pirzada, PGeo, vice-president, exploration, for Rock Tech, a qualified person as defined by NI 43-101, has reviewed and approved the contents of this news release.
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