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REGINA, SK / ACCESSWIRE / January 26, 2023 / ROK Resources Inc. (' ROK ' or the ' Company ') (TSXV:ROK)(TSXV:ROK.WT) is pleased to announce the successful completion of a multi-layer perforation and swab test of a wellbore strategically located on one of Hub City Lithium Corp. ('Hub City Lithium') Subsurface Crown Mineral Dispositions located in the Mansur Area of Saskatchewan. Third-party laboratory testing returned lithium concentrations in the Duperow formation of up to 148 mg/l (the ' Test Results ').
Note: Independent laboratory testing was conducted by Isobrine Solutions (Edmonton, Alberta)
Cam Taylor, CEO of ROK Resources, commented, ' We have the opportunity to develop one of the highest concentration lithium brines within Canada. This result confirms previous high lithium concentrations identified during initial testing in the Mansur Area. These thick dolomitic reservoirs with lithium concentrations as high as 148 mg/l should give this project a distinct competitive advantage with respect to capital costs and operating costs per tonne.'
The Test Results should allow for the development of a three-layer lithium brine project with high lithium concentrations expected throughout the target intervals. The Company expects to develop the three individual zones utilizing horizontal wellbores.
ROK, as manager of operations to Hub City Lithium, is currently finalizing a 43-101 resource report (' Resource Report ') for the Mansur Area which is expected to be completed during Q1 2023. In parallel with the Resource Report the Company has begun working on the development plan and Preliminary Economic Assessment (' PEA ') which it expects to complete during Q2 2023. In addition, the Company is currently working with a third-party direct lithium extraction technology provider who is expected to process the Company's brine through a pilot test as early as Q1 2023, which will assist in the PEA.
The Company continues to work on testing and evaluating its Viewfield Area which is thirty-five miles southeast of the Mansur Area and has a footprint of 47,360 net acres of land.
ROK has a twenty-five (25%) percent interest in Hub City Lithium, with the balance owned by EMP Metals Corp. Hub City Lithium currently holds 37 permits totalling 212,633 net acres (86,050 hectares) of Subsurface Crown Mineral Dispositions in Saskatchewan. ROK is the manager of operations of Hub City Lithium.
Mansur Area Map
Test Well: 14-36
Initial Test Well: 11-2
Detailed Test Results
The Technical content of this news release has been reviewed and approved by Trevor Else, P. Geo., a qualified person for the purposes of National Instrument 43-101
Quality Control and Quality Assurance
Swab tests were performed by Independent Well Services Inc, with the use of a downhole mechanical swabbing string and associated surface equipment. Samples were collected approximately every 2 hours and analyzed by Isobrine Solutions. The Company uses industry standard quality assurance and quality control protocols in carrying out its exploration activities.
ROK is primarily engaged in exploring for petroleum and natural gas development activities in Southeast Saskatchewan and the Kaybob South area of Alberta. It has offices located in both Regina, Saskatchewan, Canada and Calgary, Alberta, Canada. ROK's common shares are traded on the TSX Venture Exchange under the trading symbol 'ROK'.
For further information, please contact:
Cameron Taylor, Chairman and Chief Executive Officer
Bryden Wright, Chief Operating Officer
Jared Lukomski, Senior Vice President, Land & Business Development
Phone: (306) 522-0011
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's objectives, goals, or future plans as a result of the Test Results and estimated future operating results thereof. Forward-looking statements are necessarily based on several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to general business, economic and social uncertainties; the accuracy of well testing results; litigation, legislative, environmental, and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in ROK's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events, or otherwise.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
SOURCE: ROK Resources Inc.
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