Rock Tech Lithium Provides Additional Information Regarding Results of Georgia Lake PEA

- October 3rd, 2018

Rock Tech Lithium clarifies certain statements made in a news release distributed on October 2, 2018, disclosing the results of a Preliminary Economic Assessment at its flagship 100-percent-owned Georgia Lake lithium property in the Thunder Bay Mining District of Northwest Ontario, Canada.

Rock Tech Lithium [(TSX-V: RCK) (Frankfurt: RJIB) (WKN: A1XF0V)], at the request of the Investment Industry Regulatory Organization of Canada, clarifies certain statements made in a news release distributed on October 2, 2018, disclosing the results of a Preliminary Economic Assessment at its flagship 100-percent-owned Georgia Lake lithium property in the Thunder Bay Mining District of Northwest Ontario, Canada.

As quoted in the press release:

The news release included a reference to earnings before interest, taxes, depreciation and amortization which is a non-international financial reporting standards financial measure. For clarification, the average annual net income from the project is estimated to be $39.9 million.

The production scenario contemplated in the PEA and disclosed in the press release called for total production of 1.1 million tonnes of chemical grade (6.2 percent) spodumene concentrate. This is based on a portion of the measured, indicated and inferred resources included in the company’s technical report dated August 10, 2018, prepared by DMT. This technical report estimated the resources at Rock Tech’s Georgia Lake property, with a cut-off of 0.65 percent Li2O, to be as follows:

Measured & Indicated: 6.57 million tonnes grading 1.01 percent lithium oxide (“Li2O”);
Inferred: 6.72 million tonnes grading 1.16 percent Li2O.

Click here for the full text release

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