Vancouver, British Columbia, Canada, February 5, 2013 - Rock Tech Lithium Inc. (TSX-V: RCK; Frankfurt: RJIA) (the "Company" or "Rock Tech") is reviewing proposals from geological and engineering companies regarding the planned preliminary economic assessment ("PEA") at its Georgia Lake lithium project. Requests for proposal ("RFP") were sent to several potential candidates during December 2012. A careful evaluation of each proposal is underway and an announcement will be made when the successful candidate is selected and a contract is finalized.
When Rock Tech acquired the Georgia Lake lithium project in 2009, the property had an historic resource estimate* of 8.87 million tonnes grading 1.19% lithium oxide. Between 2010 and 2012, the Company completed almost 13,000 metres of drilling and released an NI 43-101 compliant resource estimate showing an indicated resource of 3.19 million tonnes grading 1.10% lithium oxide in addition to an inferred resource of 6.31 million tonnes grading 1.00% lithium oxide. The areas of the property upon which this resource estimate is based had an historic resource estimate* of 4.93 million tonnes grading 1.04% lithium oxide. During this time, the Company also completed metallurgical testing which demonstrated the potential for high grade spodumene concentrate containing 6.2% lithium oxide. These metallurgical tests also demonstrated high recovery rates using either heavy liquid separation or floatation and the potential for producing lithium carbonate with a purity of 99.98%.
"We are very excited to move our Georgia Lake project forward. Over the past two years, we have been advancing the project with the support and involvement of local First Nations and we are increasingly optimistic about the potential for this project to make a positive contribution to the surrounding communities for many years to come," said Afzaal Pirzada, Rock Tech's Vice President of Exploration and interim CEO.
The technical information contained in this news release has been reviewed by Afzaal Pirzada, P.Geo., Vice President of Exploration and interim CEO of the Company and a Qualified Person as defined in NI 43-101.
On behalf of the Board of Directors,
Afzaal Pirzada, P.Geo.
Director, Interim President and CEO, VP of Exploration
For more information, please contact:
Controller and Senior Manager, Business Affairs
Rock Tech Lithium Inc.
789 West Pender Street, Suite 1205
Vancouver, B.C., V6C 1H2
Telephone: (604) 688-1140
Facsimile: (604) 688-1173
Disclaimer and Cautionary Statement Regarding Forward-Looking Information
*The source of all historical resource estimates are taken from the Ontario Department of Mines Geological Report No. 31 titled, "Geology and Lithium Deposits of Georgia Lake Area", by E.G. Pye, (1965), and from a report titled, "Report on the Geology of the MNW Property", by B. Zayachkivsky (1986). A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. The Company is not treating the historical estimate as a current mineral resource or reserve. The historical estimate should not be relied on and does not comply with NI 43-101.
Neither the 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 press release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
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