Vancouver, British Columbia, July 27, 2012 - Rock Tech Lithium (TSXV:RCK) (Frankfurt:RJIA) announced an updated lithium resource estimate at its Georgia Lake project in Ontario.
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The NI 43-101 compliant resource estimate showed an Inferred resource estimate of 8,800,000 tonnes at 1.03% lithium oxide, and an Indicated resource estimate of 720,000 tonnes at 1.05% lithium oxide. These numbers were prepared by Caracle Creek International Consultants (CCIC), an independent geological consulting company, completed the resource estimate based on data from 59 drill holes and 436 metres of channel sampling completed by Rock Tech, in addition to 119 historical drill holes completed by previous owners.
In the technical report prepared by CCIC dated November 2, 2011, the initial NI 43-101-compliant resource estimate at the Nama Creek Main Zone North ("MZN") included partial indicated resources. This classification was based on drill hole spacing, sample density and confidence in the historical geological model through validation drilling from 2009-2011. The Company's recently completed exploration program revealed new geological information which contradicts the position of diabase intersections in historic drill holes. As a result, CCIC has classified all resources at the Nama Creek MZN as inferred until further work can be completed to delineate the diabase dyke system.
Company President and CEO, Eunho Lee, commented, "We are very encouraged by the updated resource estimate at our Georgia Lake lithium project. In the immediate future, we will conduct an exploration program, as recommended by CCIC, to remove any inconsistency between the historical and current exploration data related to diabase geological units. This exploration program will include surface geological mapping, trenching and the re-logging of Phase 1 and 2 drill core from the Nama Creek MZN."
Rock Tech's Georgia Lake property, located about 145 kilometres northeast of Thunder Bay, is comprised of 81 mining claims and 81 mining leases covering approximately 13,000 hectares.
The company stated that its objective is to be producing lithium carbonate by 2015 at Georgia Lake.
Lithium carbonate sells for up to $6,600 per tonne and is forecasted to rise on the strength of global demand, primarily from its use in batteries.
The company has 5 projects in Canada, including early stage lithium and lithium and rare earth projects in Quebec. The company continues to add to its property portfolio, with options to acquire 2 lithium brine properties in Argentina and a graphite property in Quebec.
The company is trading at $0.075, and with 96 million shares outstanding, is capitalized at $7 million.
Just prior to this latest news, Fundamental Research issued a report reconfirming an earlier speculative buy recommendation, giving the company fair value target of $0.21.
For more information, please visit the company's website at www.rocktechlithium.com (http://www.rocktechlithium.com). Their investor relations is handled by Sean Davis at 604- 688-1140, ext. 227 or email sdavis@rocktechlithium.com (mailto:sdavis@rocktechlithium.com).
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