Rock Tech Lithium Inc. (TSXV:RCK,FWB:RJIA) is a Canadian-based exploration company focused on developing its lithium and graphite properties in Canada. Since 2009, the Company’s primary focus has been its Georgia Lake lithium project; however, in 2012 the Company acquired and began actively exploring the Lochaber graphite property. Moving forward, Rock Tech intends to develop both the Georgia Lake lithium and Lochaber graphite properties.
- Advanced-stage exploration project with an historical resource of 9.8 million tons (8.87 million tonnes) grading 1.18% lithium oxide (Li2O) at the Company’s Georgia Lake lithium project.
- At Georgia Lake:
- Confirmation and expansion of 5.54 million tonnes of historical resource to an indicated resource of 3.19 million tonnes, grading of 1.10% Li2O in addition to an inferred resource of 6.31 million tonnes grading 1.00% Li2O.
- Production of high-grade spodumene concentrate of 6.2% Li2O from high and low grade ore.
- 76% recovery rate utilizing heavy liquid separation and an 81% recovery rate via floatation.
- Production of battery quality lithium carbonate of 99.96%, 99.988% with bicarbonate scrubbing, far exceeding battery manufacturers’ purity specifications of 99.5%.
- Expansion of NI 43-101 resource.
- Systematic approach to developing project to production: discovery made – NI 43-101 resource estimates – PEA – DFS – mine development – production.
Thunder Bay Mining District, Ontario
Rock Tech’s 100% owned Georgia Lake lithium project, consisting of 81 mining leases and 81 mining claims, covers 12,681 hectares in the Thunder Bay Mining District of northwest Ontario. The original claim blocks, acquired in December 2009, were the subject of more than 33,000 metres of drilling in the 1950s. This drilling resulted in an historic resource of 9.8 million tons (8.87 million tons), with an average grade of 1.18% lithium oxide*, being delineated on the property.
After conducting confirmatory and step-out drilling on the Nama Creek and Conway claims, the Company released a maiden NI 43-101 resource estimate in October 2011. The historic resource that was the subject of drilling represented just 5.4 million tonnes of the total 8.87 million tonnes, or 61%, of the historic resource. The maiden NI 43-101 compliant resource estimate delineated an indicated resource of 2.36 million tonnes at 1.17% Li2O in addition to an inferred resource of 4.36 million tonnes at 1.07% Li2O**. In September of 2012, Rock Tech prepared and released an updated resource estimate using data collected from step-out drill holes and trenching. The updated NI 43-101 resource estimate, based on the same historical footprint as the maiden NI 43-101 resource estimate, delineated an indicated resource of 3.19 million tonnes at 1.10% Li2O in addition to an inferred resource of 6.31 million tonnes at 1.00% Li2O.
The Georgia Lake project has the potential for significant lithium resource expansion and, to date, the results of prospecting, surveying and drilling have indicated showings of other rare metals such as rubidium, beryllium, niobium, cesium and tantalum.
A production decision was made by a past operator, Nama Creek Mining Corporation, in the late 1950s. At that time, Nama Creek Mining Corporation spent in excess of CAD$5 million to build out the infrastructure (power lines, roads, etc.) and construct and sink a four compartment mine shaft to a depth of over 150 metres and to mine lithium from spodumene ore.
Rock Tech’s objectives for the Georgia Lake Project are:
- To assess the economic viability of the delineated resource by conducting a Preliminary Economic Assessment (“PEA”).
*Historic resource is not NI 43-101 compliant and should not be relied upon; source: EG Pye, 1965, Geological Report 31, Ontario Dept. of Mines.
Dirk Harbecke, MBA – Director
Mr. Harbecke is currently the CEO of ADC African Development Corporation, a financial services group focused on providing operational management, investment banking and merchant banking services to the banking and insurance markets in sub-Saharan Africa and other select frontier markets. Mr. Harbecke possesses more than sixteen years of experience as a manager, entrepreneur and consultant in the financial and information and communications technology industries. Mr. Harbecke has significant project and managerial experience in France, the UK, China, Abu Dhabi/Dubai, the US, North Africa and many countries in sub-Saharan Africa.
Dr. Christian Schlag, Ph.D. (Geology), M.Sc. (Economic Geology) – Director
Dr. Schlag has served as the Senior Exploration Geologist for Goldfields South Africa, as the Economic Research Officer of the Geological Survey of SW Africa (Namibia), as Senior Lecturer at the University of Calaber (Nigeria), as Political Advisor for the Konrad Adenauer Foundation (Tanzania), as Consultant to the Indonesian Ministry of Mines and Energy and United Nations Industrial Development Projects (Indonesia) and was a member of the Deustche Forschungs Gemeinschaft (German Research Foundation). Additionally, Dr. Schlag consults on exploration projects for rare earth metals, uranium, gold, diamonds and heavy minerals throughout Africa and Asia and was instrumental in the discovery of the Marenica uranium project in northern Namibia.
Victor Goncalves, B.A. – Director
Mr. Goncalves has a strong economics background with nearly ten years as a successful market analyst and consultant for several funds including The Harvard Management Fund. Additionally, Mr. Goncalves was the founder and director of The Equities and Economics Report where he successfully predicted several major inflection points in the markets. Mr. Goncalves is the current CEO of Threegold Resources and continues to write for Barron’s Magazine, Resource Magazine, Kitco and other successful internet newsletters.
Afzaal Pirzada – M.Sc. (Geology), PGeo – Director, Vice President of Exploration and Interim CEO
Mr. Pirzada has nearly thirty years of international experience in mineral exploration and mining. He is registered as a Professional Geologist in British Columbia, the Northwest Territories and Nunavut. Early in his career, Mr. Pirzada was responsible for uranium exploration with the Atomic Energy Minerals Centre of Pakistan. Since coming to Canada, he has led exploration projects for spodumene, iron ore, nickel, PGE and titanium. Mr. Pirzada is a Qualified Person as defined in National Instrument 43-101 and is responsible for all aspects of Rock Tech’s exploration programs.
Chuck E. Jenkins, B.A. & CGA – Chief Financial Officer
Mr. Jenkins has held senior financial positions with publicly trading companies including Oromex Resources Inc., White Mountain Titanium Corporation and Aurcana Corporation and is the current CFO for Evolving Gold Corp. He has also worked in a corporate finance and regulatory compliance capacity with three leading brokerage firms and served with the British Columbia Securities Commission. Mr. Jenkins obtained his BA in 1977 and has held his CGA designation since 1983.
* 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). The historical resource estimates included in the reports are based on assessment reports filed by previous operators and other available sources. Over 200 drill holes with approximately 33,000 meters of diamond drilling were completed on the property by previous operators in the late 1950s. Based on the results of recent confirmatory exploration work on the property, the Company believes that the historic estimate is relevant to an appraisal of the merits of the property and forms a reliable basis upon which to develop future exploration programs. The original historical estimate for the property was 9.8 million tons at 1.18% Li2O. To date, the Company has confirmed 5.4 million tons, with a weighted average grade of 1.04% Li2O, of the original historical resource estimate by estimating the above current indicated and inferred resource. A qualified person has not done sufficient work to classify the remaining historical estimate as current mineral resources. The Company is not treating the remaining historical estimate as a current mineral resource or reserve. The remaining historical estimate should not be relied on. The Company intends to verify the remainder of the historical estimate by conducting further exploration, and using the historical drilling and trenching data, though it is uncertain if further exploration will result in the remaining historical estimate being upgraded to a current mineral resource.
**NI43-101 resource estimate report is available on SEDAR and on this website (http://www.rocktechlithium.com/properties/georgia-lake-nw-ontario/overview/).