www.rocktechlithium.com
Rock Tech Lithium Inc. (TSX-Venture: RCK | Frankfurt: RJIA) is a Canadian based resource company focused on acquiring, exploring and developing high-quality lithium and rare metals properties.
The Company’s strategy is to acquire and develop lithium properties that are at various stages of development — from early-stage exploration projects to advanced-stage exploration projects that have been the subject of prior work programs and/or contain historic resources that can be brought to NI43-101 standards and positioned for production within a reasonable timeframe.
Rock Tech Lithium gets "buy" rating from Fundamental Research
Fundamental Research Corp. issued a "buy" rating on Rock Tech Lithium (CVE:RCK) with a fair value stock price of $0.35.
Rock Tech has a 100-percent interest in lithium properties in the Kapiwak Pegmatite Region in the James Bay area of northwestern Quebec, and the Georgia Lake area of the Thunder Bay Mining District of northwest Ontario.
In addition to its lithium properties, Rock Tech has a 100-percent interest in a titanium-iron-vanadium property in the Saint-Urbain area near the St. Lawrence Seaway in eastern Quebec and a nickel-copper-platinum group elements-uranium property in the Sibley Basin area to the west of Nipigon, Ontario.
In November, Rock Tech published a technical report that included a resource estimate for the Georgia Lake property in Ontario, stating an indicated resource of 2.36 million tonnes at 1.17 percent lithium oxide and an inferred resource of 4.36 million tonnes at 1.08 percent lithium oxide.
In a research note, Fundamental Research analyst Siddharth Rajeev said: "We are pleased to see that management is executing well on advancing the Georgia Lake property."
Fundamental Research said that the 2011/2012 drill program has commenced and will include a total of 10,000 metres of diamond drilling aimed to expand the current resource. An updated resource estimate is expected in the first quarter of 2012.
Test results from Georgia Lake earlier this year gave lithium purity levels of 99.963 percent. Following further processing, and refining with bi-carbonate polishing, the calcium content was reduced below the 100 parts per million threshold and the purity increased to 99.988 percent.
This is "very encouraging" as the sample exceeds the industry minimum specification for purity of 99.5 percent, Fundamental Research said.
Fundamental Research's Rajeev noted: "We believe establishing a good lithium carbonate grade is a positive step and will assist [the company] in establishing future off-take agreements, which is very critical for lithium companies in the exploration and development stage.
"The results confirm that the Nama Creek Main Zone deposit [within Georgia Lake] hosts an attractive resource.
The high grades and encouraging recovery rates will positively impact any future economic assessment of the project."
The Vancouver-based lithium exploration company currently has $3 million in cash.
