Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London.
Wednesday, 8 February 2012
Rock Tech Lithium hits 1.2% lithium oxide over 8.84 metres at Georgia LakeRock Tech Lithium (CVE:RCK) unveiled Wednesday the remaining drill results from the second phase of its exploration program at the company's Georgia Lake lithium project in Ontario. The results reported Wednesday are from seven holes drilled on the spodumene-pegmatite dyke, located on the Nama Creek claim block, the company said. The aim of the second phase of the program was to add new resources to the NI 43-101 compliant estimate announced in October last year, of 2.36 million indicated tonnes of 1.17% lithium oxide (Li2O) and 4.36 million inferred tonnes of 1.08% Li2O. The resource estimate was based on the spodumene-bearing pegmatite dykes located on the Nama Creek and Conway claim blocks. Highlights of the latest drill results include 1.20% Li2O over 8.84 metres, 1.11% Li2O over 3.10 metres, and 0.82% Li2O over 1.0 metres in drill hole NC-11-23. Drill hole NC-11-24 intersected 1.44% Li2O over 4.57 metres, 0.81% Li2O over 2.70 metres, 1.33% Li2O over 2.0 metres and 0.79% Li2O over 2.0 metres. Other notable results included 1.44% Li2O over 5.83 metres, 1.11% Li2O over 3.14 metres, 0.70% Li2O over 1.58 metres, 1.70% Li2O over 1.0 metres, and 1.53% Li2O over 0.84 metres in drill hole NC-11-25. In addition, hole NC-11-27 encountered 1.22% Li2O over 5.77 metres and 1.25% Li2O over 1.0 metres, while hole NC-11-28 hit 1.30% Li2O over 2.0 metres, 1.45% Li2O over 1.58 metres and 1.50% Li2O over 1.07 metres. Finally, hole NC-11-29 returned 1.09% Li2O over 6.0 metres, 1.17% Li2O over 4.0 metres and 1.18% Li2O over 2.51 metres. "With the complete set of assay results from Phase 2 of our exploration program received from the lab, we now look forward to an updated NI 43-101 compliant resource estimation from Caracle Creek International Consulting," said president and CEO, Eunho Lee. "These results, in conjunction with the positive metallurgy, excellent infrastructure and a strong, mutually beneficial working relationship with the local First Nations, reaffirm our confidence in the potential of our Georgia Lake lithium project." The company said that the second phase drilling also found anomalous values of rare metals, including rubidium, beryllium, cesium, niobium and tantalum. The program consisted of 4,608 metres of diamond drilling over eighteen drill holes in addition to sixteen channel samples, testing pegmatite dykes located on the Nama Creek, Conway and Newkirk claim blocks. Rock Tech has already reported very high purity levels from the property earlier this year. In late September last year, the company achieved a purity level of 99.988% lithium carbonate (Li2CO3) from a bulk sample. Battery manufacturers require a purity level of at least 99.5% Li2CO3. Besides the battery industry, lithium has many uses, including heat-resistant glass and ceramics, casting for HVAC products, additives for greases and oil products, aluminum production, and as a pharmaceutical mood stabilizer. The Georgia Lake lithium property, located some 145 kilometers northeast of the city of Thunder Bay, Ontario, consists of four claim blocks covering 11,481 hectares.