VANCOUVER, British Columbia, July 10, 2019 (GLOBE NEWSWIRE) -- Rock Tech Lithium Inc. (the "Company" or “Rock Tech”) (TSX-V: RCK; Frankfurt: RJIB) is pleased to announce that, further to its news release on July 8, 2019, Northern Bioscience Ecological Consulting (“Northern Bioscience”) has mobilized to complete initial baseline studies supporting an Environmental Assessment at the Company’s 100%-owned Georgia Lake lithium project in Ontario, Canada.
The initial baseline studies will include a spawning survey and the first round of point counts for breeding birds and species at risk. Included will be surveys for whip-poor-will, protected under the Endangered Species Act, following the survey protocols of the Ministry of Natural Resources and Forestry (“MNRF”) and concurrent surveys of Little Brown and Northern Myotis using a handheld bat recorder.
“These baseline studies are key to completing an environmental assessment and obtaining permits,” said Dirk Harbecke, Rock Tech’s chairman. “We are excited to embark on this stage of the Georgia Lake lithium project’s development.”
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 lithium 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 which hosts less than 80% of total defined resources to date, was published in October 2018. Highlights from the PEA included an NPV of $312 million and an IRR of 62.2%. While the Georgia Lake lithium project has received extensive exploration and development investment over the years, there remains extensive areas for future exploration and discovery located both within and adjacent to the main resource area.
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/53bdb4fc-3ba7-4a53-8bd6-6446f7b1c0ce