GT1 make breakthrough discovery at Blue Bear
Green Technology Metals (ASX: GT1) has made the first new lithium discovery at Seymour in 50 years, returning long runs of lithium-bearing pegmatite up to 2.38% Li2O at its flagship Seymour Lithium Project in Ontario, Canada.
Surface exposure (under thin cover) has shown a similar strike and geometry to North Aubry 500m southeast of Aubry Complex, which hosts an MRE of 9.9Mt @ 1.04 Li2O.
Six channel samples have returned assays, including:
- GTC-22-002: 12.4m @ 2.38% Li2O
- GTDD-22-0360: 14.4m @ 1.30% Li2O from 21.1m (incl. 10.8m @ 1.72% Li2O)
- GTC-22-001: 14.2m @ 1.17% Li2O (incl. 11.5m @ 1.52% Li2O)
- GTDD-22-0350 13.9m @1.53% Li2Of rom13.8m (incl.8.8m@2.27%Li2O)
New discovery interpreted pegmatite drill target area (dashed red) and drill collars (blue)
“This is the first discovery at Seymour in over 50 years. To find a spodumene-bearing pegmatite under cover utilising classic geological and modern geophysical and geochemical techniques is testament to the abilities of the GT1 technical team and our exploration modelling.” CEO Luke Cox said.
“We will now drive hard to rapidly delineate the scale of this new discovery, as well as testing further new targets in this area of North Seymour.
“This is expected to culminate in an updated Mineral Resource estimate for the Seymour Project in coming months.
“We also continue to rapidly progress Preliminary Economic Assessment work on a development of Seymour, with scheduled completion in Q1 2023.”
Next Steps
Diamond drilling and channel sampling now rapidly delineating the Blue Bear deposit.
Meanwhile, a second diamond rig is undertaking sterilisation drilling for the Seymour plant site and infrastructure.
Price Action
The Company’s ASX-listed shares are $1 at Market Open.