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Friday, 11 January 2013
Rock Tech Lithium says first round of drilling at Lochaber graphite property exceeds expectations
Rock Tech Lithium (CVE:RCK) has released additional drill results from its Lochaber graphite property in Quebec, returning grades of more than 4% graphite over wide intersections.
The results comprise the remaining four holes that were part of the 3,000 metre drill program announced in October. Last month, the company announced another drill program at Lochaber based on the encouraging results received, saying it plans to drill up to another 4,500 metres at the property.
Two of the four holes announced today successfully tested the extension of graphite mineralization to the north, Rock Tech said, along electromagnetic conductor 'C'.
This conductor, now with a strike length exceeding one half of a kilometre, remains open to the north, south and at depth.
Of the other two drill holes, one tested electromagnetic conductor 'E' while the other, drilled on electromagnetic conductor 'A', was primarily for metallurgical testing. Electromagnetic conductor 'A' has been traced for 300 metres along strike.
The electromagnetic conductors tested were found on the Plumbago area of the property during geophysical surveys in September.
"The assay results from the first round of drilling have exceeded our expectations and illustrate the resource potential of the property. On their own, the results from the Plumbago area are highly encouraging," said Afzaal Pirzada, Rock Tech's VP of exploration and interim CEO.
From the results Monday, notable holes included hole PB-12-10, which intersected 47.82 metres of graphitic carbon (Cg) at various depths, with grades ranging from 1.07% to 4.24% Cg, including 13.12 metres at 4.24% Cg, 11 metres at 2.62% Cg, and 14 metres at 3.61% Cg.
Meanwhile, drill Hole PB-12-13 intersected 82.24 metres of Cg at various depths, with grades including 1.62 metres at 8.25% Cg, 2.93 metres at 7.61% Cg, and 10.93 metres at 5.92% 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 subject to the property option agreement.
Indeed, Rock Tech said in September that surface samples taken from the Kelly, McLaren and Burke areas of the property returned graphite results up to 22%.
"Our optimism is bolstered by the fact that the Plumbago area represents less than 13% of the claims under option while surface samples from other areas of the property show the potential for further high-grade graphite mineralization," commented Pirzada.
"Drilling continues on the Plumbago area and will further test the extensions of the previously identified electromagnetic conductors."
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.