Rock Tech Lithium starts Victory fieldwork ahead of 2027 drilling
Crews are assessing two undrilled occurrences and the corridor between them, with initial results expected in early 2027.
Mara Quinlan
Rock Tech Lithium Inc. CVERCK OTCMKTSRCKTF FRARJIB said on Thursday it has started its first field program at the 9,875-hectare Victory lithium project in northwestern Ontario. The program will assess a 6-kilometre corridor between two undrilled occurrences as the company prepares targets for its first drilling in 2027.
Rock Tech shares CVERCK were unchanged at C$0.64 at 4 p.m. EDT on Oct. 21 on the TSX Venture Exchange, before Thursday's announcement.
Geologists and field technicians are working through October on sampling and geological mapping at Last Resort and Bounty, the two known pegmatites, while searching for new occurrences. A high-resolution survey will map outcrops, geological structures and pegmatite trends to guide target selection.
Rock Tech expects initial results in early 2027, with drilling planned later that year. Thursday's release did not disclose a fieldwork budget, a sampling completion date, a sample count or planned drilling metres.
Rock Tech is developing lithium mining and conversion projects, including Georgia Lake and the proposed Red Rock plant in Ontario. Victory lies about 45 kilometres east of Kenora, along the Trans-Canada Highway, with rail, electrical transmission and a natural gas pipeline nearby.
The company says Victory, about five hours by road from the planned converter, could provide another Ontario feedstock source. That potential depends on successful exploration and further technical evaluation.
Read more: Rock Tech Lithium estimates Red Rock converter capital cost at C$596M
Historical grab samples returned up to 5.11 per cent lithium oxide at Last Resort and 3.48 per cent at Bounty, Rock Tech said on Thursday. Those selective samples have not been fully verified by the company and may not represent mineralization across the property.
Victory has no mineral resource or reserve estimate, and neither occurrence has been drilled. The company cautioned that Georgia Lake's mineralization is not necessarily indicative of what exploration will find at Victory.
In its June 22 option announcement, Rock Tech said Last Resort had been mapped over about 200 metres of strike. Bounty had been mapped for about 375 metres, but depth, grade continuity and overall geometry have not been established at either occurrence.
Rock Tech secured an option to acquire 100 per cent of Victory under an agreement dated June 17. The company says the option structure ties most of the consideration to project results.
"Four months after signing the option, our geologists and prospectors are on the ground at Victory," chief executive Mirco Wojnarowicz said in Thursday's release.
The first field-program results are expected in early 2027, ahead of drilling planned for later that year.
