Wednesday, 19 December 2012

Rock Tech Lithium releases more encouraging graphite results from Lochaber property

Rock Tech Lithium (CVE: RCK) Wednesday released results from two additional drill holes at its Lochaber graphite property in Quebec, which the company called "highly encouraging". 
The holes formed part of the 3,000 metre drill program announced by Rock Tech in October, and further tested the graphite mineralization along electromagnetic conductor 'C' on the Plumbago area of the asset. 
Five electromagnetic conductors were found on the Plumbago area during geophysical surveys in September, the junior explorer said. 
From the drill results reported today on one of these conductors, hole PB-12-08 returned 78.51 metres of graphitic carbon (Cg) at various depths, with grades ranging from 1.02% to 10.91% Cg. This included 8.07 metres at 5.10% Cg, and 9.47 metres at 3.41% Cg. 
Hole PB-12-09 intersected 64.61 metres of Cg at various depths, with grades ranging from 1.59% to 10.01% Cg, including 15.70 metres at 5.28% Cg, and 9.96 metres at 2.76% Cg.
So far, the company's geophysical surveys and drill programs have focused exclusively on the Plumbago area of the property, which includes only four of the 32 claims under the property option agreement.  
Indeed, the company said that samples taken from the Kelly, McLaren and Burke areas of the property returned graphite results up to 22%, providing further upside potential. 
"Similar to electromagnetic conductor 'A', we have now traced electromagnetic conductor 'C' for 300 metres along strike by drilling exploratory holes to a depth of over 150 metres," said VP of exploration for Rock Tech and interim CEO, Afzaal Pirzada. 
"The graphite mineralization remains open along strike and at depth for both conductors.  The assay results received to date are highly encouraging especially considering our drilling has only been conducted on four of the thirty-two claims subject to the property option agreement."
Earlier this month, the company announced another drill program at Lochaber based on the results received so far, saying it plans to drill up to another 4,500 metres at the property. 
Rock Tech is planning to prepare an NI 43-101 compliant resource estimate on the project next year. 
The Canadian exploration company is focused on developing lithium properties. It holds 100 percent interests in three lithium properties: the Georgia Lake project in the Thunder Bay Mining District of NW Ontario, the Kapiwak project in the James Bay Region of northern Quebec, and the Lacorne project that surrounds Canada Lithium's lithium mine in the Val d’Or mining district of eastern Quebec.
The company recently released an updated resource estimate on its Georgia Lake project. 
The estimate, based upon its field program, Phase 1 and Phase 2 exploration results and historical exploration data, is 3,190,000 tonnes at 1.10% lithium oxide (Li2O) in the indicated category and in the inferred category the resource was 6,310,000 tonnes at 1.00% Li2O.

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