Rock Tech Lithium clarifies technical data for the Lopare Lithium Project and offers a strategic update on the Arcore transaction, providing further details and adjustments.
Rock Tech Lithium Inc. and Arcore AG are set to establish a European lithium company, combining Rock Tech's Lopare Lithium Project in Bosnia-Herzegovina with Arcore's Guben Converter in Germany. However, it's important to note that the Lopare Lithium Project's historical estimate, disclosed earlier, is considered a "historical estimate" by Rock Tech and has not been prepared in accordance with National Instrument 43-101 (NI 43-101) standards.
The historical estimate, completed by independent mining consultants CSA Global Pty Ltd., is based on 14,035 assay sample results from 69 historical drill holes. It demonstrates the Project's significant lithium and boron resource potential and was completed using current mining industry best practice standards for mineral resource estimation, specifically a block model method with grade estimation completed using inverse distance weighting squared (IDW2).
However, for the historical estimate to be considered a current mineral resource under NI 43-101 standards, a focused drilling and exploration program to confirm historical data is mandatory. This includes twinning a selection of specific drill holes to verify or upgrade the historical estimate. The verification process serves to confirm the reliability of the historical resource estimate and upgrade it to meet current disclosure standards in NI 43-101.
The Transaction between Rock Tech and Arcore is currently targeted for the third quarter of 2025. The completion of the Transaction is contingent upon the fulfillment of closing conditions, including the raising of at least €50 million in capital. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cameron Andrews, P.Eng., General Manager Georgia Lake Project, has prepared and approved the scientific and technical information disclosed in the news release. The Canadian Securities Administrators (CSA), which oversees NI 43-101, also stress the importance of qualified persons conducting personal inspections and providing clear, reliable scientific and technical disclosures.
Additional technical work is required prior to upgrading or verifying the historical estimate, including a field exploration program and diamond drilling program. At this time, Rock Tech does not have direct access to the Lopare Lithium Project site and has not been able to conduct independent verification or due diligence on the geological data.
In summary, the Lopare Lithium Project's historical estimate requires verification through twinning drill holes and confirming geological continuity to upgrade it to a current mineral resource compliant with NI 43-101 standards. The Transaction is subject to several closing conditions, including technical and legal due diligence, board and shareholder approvals, regulatory approvals, a €50 million financing strategy, and definitive agreements.
1) In order for the historical estimate of Rock Tech Lithium's Lopare Lithium Project to be considered a current mineral resource under NI 43-101 standards, investing in a focused drilling and exploration program to confirm historical data is essential.
2) For the Transaction between Rock Tech and Arcore to be completed, business activities such as technical and legal due diligence, board and shareholder approvals, regulatory approvals, a €50 million financing strategy, and definitive agreements are required.
