Green Technology Metals (ASX:GT1) earmarks high-end lithium for Ontario upgrade
February 28, 2024Green Technology Metals has finalised its infill diamond drill campaign at the flagship Seymour project in Canada to return more thick, high-grade lithium strikes from the fully owned project north of Thunder Bay port in Ontario.
All assays now are in the books, with results as strong as 24.2 metres at 2.69 per cent lithium oxide continuing to confirm the lithium continuity of the project’s North Aubry deposit.
The strikes will form part of an upgraded resource estimate now underway to feed tonnage into a definitive feasibility study slated for completion by year’s end.
Green Technology Metals Chief Executive Officer Luke Cox said the results were some of the highest grade and thickness defined at Seymour.
“These … further (prove) the robust nature and quality of the North Aubry pegmatite which is amenable to both open pit mining and simple dense media separation,” Mr Cox said.
“The team will now start modelling an updated MRE for Seymour increasing the resource confidence level, that will be used in the upcoming feasibility study.
“Looking ahead to the second half of 2024, we have plans to expand our regional resource base and look forward to commencing our maiden exploration drilling campaign at the nearby highly prospective Junior Lithium Project, which sits in the same proven fertile greenstone belt as Seymour.”
Seymour spodumene
Green Technology Metals is confident it can move into development in 2024 after a preliminary economic assessment confirmed the economic development options for both Seymour and the nearby Root project to become vertically integrated assets.
It would have the Perth-based company standing as Ontario’s first producer of lithium concentrates and chemicals, with GT1 seeing ample room to build up tonnage ahead of a final investment decision.
A fresh discovery east of Root with intercepts as strong as 23.3m @ 1.16 Li2O offers potential repeats there, while the northern area of the Seymour tenements presents 91 square kilometres of highly prospective and unexplored territory.
But drilling will next begin at the newly acquired Junior Lithium Project, now under full company control and offering multiple lithium-caesium-tantalum pegmatites at surface and drill-ready targets.
Work will begin at Junior in the second half as Green Technology Metals continues to make headway towards its final investment decision.
Junior is 20km from Seymour in Canada and covers 109 square kilometres of ground featuring LCT pegmatites at surface and containing multiple drill targets.
Significant results
- 24.2m @ 2.69% Li20 from 235.8m incl. 22.2m @ 2.92% Li20 from 235.8m
- 19.3m @ 2.47% Li2O from 198.0m
- 11.9m @ 2.08% Li2O from 211.9m
- 16.1m @ 1.32% Li2O from 191.2m
- 13.1m @ 1.45% Li2O from 17.4m
- 9.2m @ 1.63% Li2O from 127.5m
- 8.9m @ 1.65% Li2O from 164.9m
- 14.8m @ 1.00% Li2O from 230.1m
GT1 has provided a cross section of the recent intercepts at Seymour
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