Rock Tech Lithium Clarifies Technical Disclosure Relating to the Lopare Lithium Project and Provides Strategic Update on Arcore Transaction
TORONTO, July 7, 2025 /PRNewswire/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the “Company” or “Rock Tech”) is issuing this news release based on a review by staff of the Ontario Securities Commission to clarify that the mineral resource estimate disclosed for Arcore AG’s (“Arcore”) Lopare Lithium Project (“Lopare Lithium Project” or the “Project”) in the Company’s news release dated February 20, 2025 is considered by the Company to be a “historical estimate” within the meaning of Section 2.4 of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
The source of the historical estimate for the Project is a report completed for Arcore, which is a private Switzerland-based lithium mining company.
The report, titled:
Lopare-Boron-Lithium-Project” was completed by independent mining consultants CSA Global Pty Ltd. (“CSA Global”), an ERM Group Company, and has an effective date of November 30, 2022.
“This report was not completed in accordance with NI 43-101 and Form 43-101F1 Technical Report disclosure standards and is currently not publicly available or available on SEDAR+. The historical estimate and report were completed and reported in accordance with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”).
The historical estimate is considered relevant and reliable as 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. However, the Company cautions readers that this historical estimate was not completed using CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014) and CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (November 2019) and is not supported by a technical report completed in accordance with NI 43-101. In addition, under the JORC (2012) Code standards, Measured, Indicated, and Inferred mineral resources can be aggregated, which is not permitted under NI 43-101.
The Lopare Lithium Project historical estimate was completed by CSA Global using a block model method with grade estimation completed using inverse distance weighting squared (IDW²). The historical estimate was reported within a conceptual open-pit shell and determined using a lithium carbonate price of US$40,000/t and boric oxide price of US$1,322 (equivalent to a boric acid (H3BO3) price of US$750/t). These conceptual parameters and costs were determined by CSA Global to support reasonable prospects for eventual economic extraction. The historical estimate was reported above a cut-off grade of 400 ppm Li2O and for material less than 400 ppm Li2O, a 4% B2O3 cut-off grade was applied. The historical estimate is based on 14,035 assay sample results from 69 historical drill holes.
Additional technical work is required prior to upgrading or verifying the historical estimate. Specifically, a field exploration program and diamond drilling program focused on confirming existing geological and drill hole data, including twinning a selection of specific drill holes, is required in order to verify or upgrade the historical estimate to a current mineral resource. At this time, Rock Tech does not have direct access to the Lopare Lithium Project site and, as such, has not been able to conduct independent verification or due diligence on the geological data. There are no other historical estimates for the Lopare Lithium Project.
A Qualified Person has not done sufficient work to classify this historical estimate as current mineral resources and Rock Tech is not treating this historical estimate as current mineral resources.
Update on the Arcore Transaction
Rock Tech is pleased to provide a strategic update on the transaction (the “Transaction”) with Arcore, previously announced on February 20, 2025, which aims to establish a fully integrated European lithium company by combining Rock Tech’s Guben Converter in Germany with Arcore’s Lopare Lithium Project in Bosnia-Herzegovina.
Since signing the business combination agreement, the Company has continued to work on key workstreams and is carefully assessing the opportunity within the broader context of its project portfolio.
The outstanding closing conditions include:
- Technical and Legal Due Diligence
- Board and Shareholder Approvals
- Regulatory Approvals (including TSX Venture Exchange)
- €50 Million Financing Strategy
- Definitive Agreements
The completion of the Transaction remains subject to the fulfillment of closing conditions, including but not limited to receipt of all necessary regulatory approvals and compliance with applicable legal and tax requirements. The Transaction is also contingent upon capital being raised in the amount of at least €50 million, in the form of equity, equity-linked, or equity-like securities into the new joint venture. Closing is currently targeted for the third quarter of 2025.
QUALIFIED PERSON STATEMENT
The scientific and technical information disclosed in this news release has been prepared and approved by Cameron Andrews, P.Eng., General Manager Georgia Lake Project, and considered a Qualified Person under NI 43-101.
Neither the TSX venture exchange nor its regulation services provider (as that term is defined in policies of the TSX venture exchange) accepts responsibility for the adequacy or accuracy of this release.
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Rock Tech Lithium Clarifies Technical Disclosure Relating to the Lopare Lithium Project and Provides Strategic Update on Arcore Transaction, source
