Green Technology Metals

Drilling Commences At Second Key Lithium Project In Ontario

Green Technology Metals Limited (ASX: GT1) (GT1 or the Company) is pleased to advise that drilling has commenced at its Root Project, located approximately 200 km west-north-west of GT1’s flagship Seymour Project. Drilling is initially focussed on the McCombe LCT pegmatite.


HIGHLIGHTS

  • Phase 1 diamond drilling has commenced at the McCombe LCT pegmatites (Root Project).
  • Initial 22-hole, 2,500m program set to confirm McCombe historical drilling and sampling results.
  • Phase 2 diamond drilling to target significant expansion of the known McCombe mineralisation.
  • Historical drilling demonstrated down-dip continuity at McCombe (including 67m @ 1.75% Li20).
  • Total 24,000m diamond drilling program initially planned over McCombe and Morrison pegmatites.
  • Targeting rapid delineation of a maiden Mineral Resource estimate for the Root Project.
  • Drilling continues in parallel at Seymour with two drill rigs operating

“Commencingdrilling at Root is another significant milestone for our business. The initial focus at the advanced McCombe LCT pegmatite is confirmation and extension of known mineralisation, followed by rapid estimation of a maiden Mineral Resource estimate. We then plan to target other known spodumene-bearing LCT pegmatites at Root, including Morrison and Root Bay.”

- GT1 Chief Executive Officer, Luke Cox

McCombe drilling program at Root

Initial drilling at McCombe (22 holes for 2,500m) is targeted to confirm historical drilling and sampling. The second phase of drilling is then planned to test for extensions of the mineralised pegmatites in all directions, infill key sections and rapidly facilitate delineation of a maiden Mineral Resource estimate for the Root Project.

The McCombe LCT (Lithium-Caesium-Tantalum) pegmatite is the most advanced prospect at Root. Historical drilling completed by Ardiden Limited in 2016 saw six holes drilled, which intersected numerous pegmatites, generally dipping to the south and striking east-west. This drilling confirmed historical drill results and demonstrated the down dip continuity of the lithium mineralisation, including a key extensional intercept of 67m @ 1.75% Li2O (see GT1 ASX release dated 8 November 2021, Prospectus).

Figure 1: Phase 1 drill collars at McCombe pegmatite – confirmation program of 22 holes for 2,500m

Field geologists continue to map the known LCT pegmatites, and determine their exposed lateral extents, across the broader Root Project. In combination with the recently acquired aerial photography, aerial geophysics and Lidar bare earth interpretations, a pipeline of initial targets for further field testing is being established at Root.


Click here for the full ASX release

This article includes content from Green Technology Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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The JTF is run by the European Commission, supporting projects that align with the economic diversification and reconversion of concerned territories such as Bulgaria, the Czech Republic and Hungary.

JTF states on its website that the number of supported projects varies annually, depending on the proposals. The grant also forms part of the European Union’s efforts to transition to clean energy and achieve climate goals.

Cinovec was chosen as it was designated as a strategic project under the Critical Raw Minerals Act in March, underlining its importance in Europe’s journey toward securing stable supply of critical raw minerals. It was also declared a strategic deposit by the Czech government, a designation that accelerates certain permitting processes.

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The company’s board of directors acknowledged media reports on the situation in a press release late last week, saying it wants to ensure the successful development of the asset.

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Australian spot spodumene concentrate prices have also declined.

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