VANCOUVER, British Columbia, June 10, 2019 (GLOBE NEWSWIRE) -- Rock Tech Lithium Inc. (the "Company" or “Rock Tech”) (TSX-V: RCK; Frankfurt: RJIB) announces that it has collected and analyzed springtime high water samples from its 100%-owned Georgia Lake lithium project in Ontario, Canada.
Environmental Applications Group (“EAG”), collected a springtime high water sample to supplement the regional baseline water quality sampling that was completed by Rock Tech in 2010-2011. The water sampling program helps characterize seasonal and spatial variability in surface water quality and provide supporting information for the permitting process.
“Mining projects in Northern Ontario require a discharge point for effluent, and this can be a long-lead permitting task that we are fortunate to have started many years ago,” said Dirk Harbecke, Rock Tech’s chairman. “Our environmental consultants at EAG have reviewed all available information and have selected a potential effluent receiver. Water samples collected from this location have confirmed excellent water quality that meets Provincial Water Quality Objectives.”
EAG considered several factors when deciding on an appropriate effluent receiver, including a large watershed area, water with concentrations of regulated parameters that are below Provincial Water Quality Objectives (“PWQO”) to allow effluent to dilute without the resulting concentration of any regulated parameter increasing above PWQO, and an area with turbulent mixing in a river rather than discharge to a lake to minimize the risk of inefficient mixing and a chemocline becoming established. The effluent receiver was also considered, as it is in an area without species at risk, trout habitat, remote tourism, parks and conservation reserves, provincially significant wetland or a source for a drinking water treatment plant. This area was also considered to avoid creating new corridors for a pipeline and any cumulative impacts from other dischargers such as mines, pulp and paper mills, or municipal wastewater discharges.
The water samples were submitted to and analyzed by ALS Environmental in Thunder Bay, Ontario.
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 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 hosting less than 80% of total defined resources, was published in October 2018. Highlights from the PEA included an NPV of $312 million and an IRR of 62.2%.
On behalf of the Board of Directors,
"Martin Stephan"
Martin Stephan
Director, Chief Executive Officer
For further information, please contact:
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: bbarnett@rocktechlithium.com
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5e6eeb12-875e-4354-9d3a-5ffb8d17248a