Canada's Rock Tech Launches Exploration at 9,875-Hectare Lithium Project

en.Wedoany.com Reported - On October 22, Canadian mining company Rock Tech Lithium announced that it has launched its first round of field exploration at the Victory lithium project in northwestern Ontario. The project covers a mineral claim area of 9,875 hectares and is located approximately 45 kilometers east of Kenora. The exploration will focus on two known lithium-bearing pegmatite mineralization occurrences about 6 kilometers apart, using geological mapping, surface sampling, and high-precision surveys to identify new mineralization targets and determine priority targets for the first round of drilling in 2027.

The current field program covers the Last Resort and Bounty pegmatite occurrences, as well as the under-explored 6-kilometer corridor between them. Geologists are conducting outcrop investigations, rock sampling, and high-resolution geological surveys, recording mineralized outcrops, geological structures, and pegmatite extension directions, and investigating whether other lithium-bearing pegmatite bodies exist between the two occurrences. The company plans to announce initial exploration results in early 2027 and to determine follow-up drill hole locations based on the survey data.

Previous surface sampling data showed that selective grab samples from the Last Resort pegmatite returned lithium oxide grades of up to 5.11%, while samples from the Bounty pegmatite returned up to 3.48%. Neither occurrence has yet been drill-verified; the above grades come from historical selective samples and have not yet been fully independently verified by Rock Tech. The current field exploration will supplement surface distribution and extension data for the two mineralized bodies, providing a basis for subsequent drill verification.

In June 2026, Rock Tech signed option agreements with Bounty Gold and Last Resort Resources, obtaining the option to acquire a 100% interest in the Victory project. Under the agreements, the company can acquire the full interest within 24 months by paying CAD 600,000 in cash and issuing common shares worth CAD 400,000, with the original holders retaining a 2% smelter net return royalty. The launch of field exploration marks the first on-site work since obtaining the project acquisition option.

The Victory project is close to the Trans-Canada Highway, railways, power transmission lines, and natural gas pipelines. Rock Tech plans to assess the possibility of supplying spodumene feedstock from the project to its planned lithium conversion plant in Red Rock, Ontario. The project currently has no formal mineral resource or reserve estimate, and the number of drill holes and total meterage planned for 2027 have not been announced.