| Announcement Date: | 2022-11-21 |
|---|---|
| Announcement Type: | Pre-Feasibility Study |
| Announcement Code: | NI43-101 |
| Company name: | Rock Tech Lithium Inc. |
| Project name: | Georgia Lake |
| Location: | Canada |
| Commodities: | Lithium |
| Highlight: | Pre-Feasibility Study result incl. Post Tax NPV (8%) of CAD $190M & IRR of 35.6% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | AMC Mining Consultants (Canada) Ltd. (AMC) was engaged by Rock Tech Lithium Inc. (RCK) of Vancouver, British Columbia, Canada, to review the Georgia Lake Lithium Project located on the Georgia Lake Property (Property) and prepare a Pre-Feasibility Study (PFS) that is compliant with Canada’s National Instrument 43-101 (NI 43-101) and Form 43-101F1. The Property is located approximately 160 kilometres (km) northeast of Thunder Bay, Ontario, Canada. The Property is 100% owned by RCK and consists of 277 unpatented mining claims and 41 leases. The total area of the claims is 5,686 hectares (ha) (56.86 square kilometres (km²)) and dispositions comprise a total area of 1,042 ha (10.42 km2 ). The Property is divided into the Northern Spodumene Pegmatite Area (NSPA) and Southern Spodumene Pegmatite Area (SSPA). There are no mine workings, tailings ponds or waste deposits on the Property, except for waste level development and an historic mine shaft on the Main Zone North (MZN) pegmatite on the Nama Creek disposition. The shaft was built in 1956 by Nama Creek Mines Ltd. The last Technical Report was the “Preliminary Economic Assessment for an Integrated Lithium Hydroxide Operation from the Georgia Lake Lithium Project, Northwest Ontario, Canada” with an effective date of 15 March 2021 (2021 PEA). |
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