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Tuesday, 5 February 2013
Rock Tech Lithium reviews proposals for PEA consultant at Georgia Lake
Rock Tech Lithium (CVE:RCK) says it is reviewing proposals from geological and engineering companies regarding its planned preliminary economic assessment (PEA) report at its Georgia Lake lithium project in Ontario.
“We are very excited to move our Georgia Lake project forward," said the company's interim CEO and VP of exploration, Afzaal Pirzada.
"Over the past two years, we have been advancing the project with the support and involvement of local First Nations and we are increasingly optimistic about the potential for this project to make a positive contribution to the surrounding communities for many years to come."
Requests for proposals were sent to "several potential candidates" last month, the company said, with Rock Tech now evaluating the documents. An announcement is expected when the choice has been made and a contract has been finalized, it added.
When Rock Tech acquired the Georgia Lake lithium project in 2009, the property had an historic resource estimate* of 8.87 million tonnes grading 1.19% lithium oxide.
Between 2010 and 2012, the company completed almost 13,000 metres of drilling and released an NI 43-101 compliant estimate showing an indicated resource of 3.19 million tonnes grading 1.10% lithium oxide, in addition to an inferred resource of 6.31 million tonnes grading 1.00% lithium oxide.
Rock Tech said the areas of the property on which this latest resource estimate is based had an historic estimate of 4.93 million tonnes grading 1.04% lithium oxide.
During the two year period, the company also completed metallurgical testing, which showed the potential for "high grade spodumene concentrate" containing 6.2% lithium oxide.
The tests also showed high recovery rates using either heavy liquid separation or floatation, the mineral explorer said, as well as the potential for producing lithium carbonate with a purity of 99.98%.
Mineralization at Georgia Lake, located in the Thunder Bay Mining District of Northwest Ontario, dates back to the 1950s, and was subjected to a staking rush and hefty exploration work by various operators until 1958.
The property also boasts “excellent infrastructure”, attests the company, as it is accessible via paved provincial highway, and gravel roads right up to the project area. Power and water are also readily available, with a labour force in place as the town of Beardmore sits just 20 kilometres away.
Rock Tech is also hoping to bring an NI 43-101 compliant maiden resource to its Lochaber graphite property in Quebec this year. It recently announced the first set of results from the drill program it announced in December at the property, returning more high grades of graphite.
The results are from the second round of drilling at Lochaber, after encouraging assays from the initial round prompted a decision to drill another 4,600 metres in early December.
Notable results from the latest drill holes include 59.48 metres of graphitic carbon (Cg) at various depths with grades ranging from 1.52% to 14.61% Cg in hole PB-12-14.
The Canadian junior is looking to benefit from the development of two metals critical for industrial production.
“We have a unique scenario in that we have two very good projects that can provide graphite for the battery industry, as well as lithium,” Pirzada told Proactive Investors last month.