(RTTNews) - Rock Tech Lithium Inc. (RCK.V) has received $388,074 in funding from Ontario's Critical Minerals Innovation Fund - CMIF to support the development of an advanced ore sorting process for low-grade spodumene ores at its Georgia Lake Project near Beardmore, Ontario.
The initiative, in collaboration with Queen's University and Stark Technologies, targets an 80 percent lithium recovery rate from ores containing 0.3-0.5 percent Li2O—grades traditionally deemed uneconomical.
The funding will accelerate pilot testing of energy-efficient sorting technologies to improve the sustainability and economic viability of lithium production in support of Ontario's clean energy and critical minerals strategies. Research will take place at Queen's University, with Stark supplying sorting technology and Rock Tech managing samples and commercialization.
Rock Tech CEO Mirco Wojnarowicz noted that the government's backing reflects a commitment to collaborative innovation in making low-grade lithium resources viable. Ontario's Minister of Energy and Mines, Stephen Lecce, praised the project as an example of smart partnerships strengthening local supply chains and clean energy progress. Charlotte Gibson of Queen's University echoed these sentiments, emphasizing the project's academic-industry alignment.
In a separate announcement, Rock Tech entered a revised field exploration agreement with four First Nations Groups: Bingwi Neyaashi Anishinaabek, Biinjitiwaabik Zaaging Anishinaabek, Red Rock Indian Band, and Animbiigoo Zaagi'igan Anishinaabek.
The agreement outlines consultation and accommodation commitments for exploration at Georgia Lake and includes the issuance of 1,000,000 share purchase warrants 250,000 per group, exercisable for five years at the closing price on the TSX Venture Exchange on the grant date. The company has also canceled a prior warrant issuance of 750,000 from January 2022, pending TSXV approval.
Additionally, Rock Tech granted 410,000 stock options to directors, officers, and employees under its Stock Option Plan. Of these, 260,000 went to company leadership. The options are priced at $1.00, vest immediately, and expire on June 19, 2030.
RCK.V currently trades at C$0.99 with no movement on the TSXV.
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