NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
REGINA, SK / ACCESSWIRE / September 29, 2021 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK) is pleased to announce the completion of a multi-layer perforation and swab test of a vertical wellbore strategically located on one of Hub City Lithium Corp. ("Hub City Lithium") Subsurface Crown Mineral Dispositions located in Saskatchewan. Laboratory testing returned lithium concentrations in the Duperow formation up to 96.3 mg/l., which exceeded the Company's target of 74.6 mg/l.
Results from the Test Well
The target Wymark zones of the Duperow tested as follows:
Target Duperow Interval | Salinities (ppm) | Li Concentration (mg/litre) |
Lower Wymark A & B | 250,000 | 85.0 - 85.8 |
Upper Wymark E & F | 262,000 | 89.0 - 96.3 |
Please refer to https://rokresources.ca/invest-with-us/#Presentation for additional details on the Company's lithium prospects.
Bryden Wright, Chief Operating Officer of ROK, commented, "Both ROK and Hub City Lithium are very encouraged by the results of the swab test and laboratory analyses. Over the coming weeks, we will complete a full-scale production test to establish flow rate potential from the target intervals."
Background
ROK has a twenty-five (25%) percent carried interest (the "Carried Interest") in Hub City Lithium, a private corporation that currently holds 119,739 acres (48,457 hectares) of Subsurface Crown Mineral Dispositions in Saskatchewan (the "Property"). ROK, as manager of operations, performed a multi-zone swab test to recover formation brine for the purpose of laboratory testing. ROK engaged two independent laboratories1 to analyze multiple zones of interest and measure lithium concentrations present in the formation brine. Within these zones, the targeted intervals returned lithium concentrations up to 96.3 mg/l. Next steps include high-volume flow testing, which is expected to begin on or before October 31, 2021.
Qualified Person
The technical content of this news release has been reviewed and approved by Trevor Else, P. Geol., a qualified person for the purpose of National Instrument 43-101.
About ROK
ROK is primarily engaged in exploring for petroleum and natural gas development activities in Saskatchewan. Its head office is located in Regina, Saskatchewan, Canada and 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 CEO
Lynn Chapman, CFO
Phone: (306) 522-0011
Email: [email protected]
Notes
- Independent laboratory testing was conducted by Isobrine Solutions (Edmonton, AB) and AGAT Laboratories (Calgary, AB).
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 with respect to pursuing the objectives and the expectations regarding the expected results thereof. Forward-looking statements are necessarily based on a number of 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; 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 as a result 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.