Further High-Grade Lithium – Up To 1.8% Li2o - Encountered At Ruth Well Project In WA

GreenTech Metals Ltd (ASX: GRE) (GreenTech or the Company) is pleased to report that it has received assay results from a further 43 reconnaissance samples which confirm the presence of a consistent zone of lithium-bearing pegmatite at the Kobe Lithium Prospect.The Kobe Prospect sits within the Company’s Ruth Well Project tenements, in the West Pilbara region of Western Australian. A total of 65 samples have been collected from the project area and assayed to date.

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Highlights:

• Further reconnaissance rock chip sampling at the Ruth Well Project in the Pilbara region of WA confirms previous high-grade lithium results
  
• Assays confirm lithium mineralisation within the Kobe Prospect area has increased from 6km to over 7.5km strike length
• Assays report up to 1.80% Li₂O mineralisation - the highest grade encountered to date
  
• Significant recent sampling assays recorded include;
  • 1.80% Li₂O (Sample No 23GT11-041)
    
  • 1.70% Li₂O (Sample No 23GT11-042)
    
  • 1.58% Li₂O (Sample No 23GT11-039)
    
  • 1.54% Li₂O (Sample No 23GT11-022)
    
  • 1.53% Li₂O (Sample No 23GT11-016)
    
  • 1.53% Li₂O (Sample No 23GT11-017)
    
  • 1.48% Li₂O (Sample No 23GT11-040)
    
  • 1.04% Li₂O (Sample No 23GT11-013)
    
  • 1.0%Li₂O (Sample No 23GT11-018)
    (Above results are in addition to assay results previously announced to ASX on 15 June with assay up to 1.65% Li₂O¹)
• Preparations for maiden drilling program are well advanced

The results from the recent 43 additional reconnaissance rock chip samples submitted for analysis, returned excellent grades of lithium mineralisation measuring up to 1.8% Li2O.

Ground reconnaissance has also confirmed that the Kobe pegmatite bearing zone extends beyond the previously reported 6km strike, to a strike of 7.5km.

Management Commentary

Executive Director Thomas Reddicliffe commented:

“These recent additional reconnaissance samples are a follow up from the original program, so we are extremely pleased to see a persistence in the tenor of the mineralisation over the entire length of the pegmatite zone identified to date. We believe the consistency of the grades over a now 7.5km strike is evidence of a large mineralising system and underscores the prospectivity of this pegmatite zone.

GreenTech has a strong foothold in one of WA’s exploration hotspots and with high-quality lithium and copper projects in its portfolio, Greentech is exceptionally well placed to capitalise on the decarbonisation and energy economy transformation that is now taking place around the world.”

Ruth Well Project Reconnaissance Program Summary

The second reconnaissance sampling program has followed on from the first reconnaissance program which comprised 22 samples, the results of which were reported previously. This second program targeted the pegmatite zone over a further 5.5km and extended into GreenTech’s adjoining tenements with a total 43 samples collected. The pegmatite was tracked into tenement E47/3719 which is under the Osborne Joint Venture (51% Greentech (manager) and 49% Artemis Resources). The variably exposed pegmatite zone has been sampled opportunistically over the currently observed strike length of 7.5km. Within the pegmatite bearing zone individual pegmatites of variable width up to 4m were observed.

This follow-up batch of 43 samples were dispatched to the ALS Global laboratory in Perth for a 52-element analysis with 37% of the samples returning positive results for lithium mineralisation and including 20% with assays reporting greater than 1% Li2O. Test work carried out by Curtin University by way of XRF analysis on a sample from the first sampling program confirmed that the lithium bearing mineral is spodumene. For completeness, three of the lithium bearing samples from the second program have also been submitted to Curtin University for confirmation of the mineralogy. The results for these samples will be reported when the analytical results are received. It is not anticipated that there will be a change in the nature of the lithium mineralogy. The following significant sample assays were received for the second program;

• Sample No 23GT11-041 - 1.80% Li₂O
• Sample No 23GT11-042 - 1.70% Li₂O
• Sample No 23GT11-039 - 1.58% Li₂O
• Sample No 23GT11-022 - 1.54% Li₂O
• Sample No 23GT11-016 - 1.53% Li₂O
• Sample No 23GT11-017 - 1.53% Li₂O
• Sample No 23GT11-040 - 1.48% Li₂O
• Sample No 23GT11-013 - 1.04% Li₂O
• Sample No 23GT11-018 - 1.0% Li₂O
• Sample No 23GT11-004 - 0.87% Li₂O
• Sample No 23GT11-032 - 0.57% Li₂O
• Sample No 23GT11-012 - 0.49% Li₂O
• Sample No 23GT11-018 - 1.0% Li₂O
• Sample No 23GT11-043 - 0.22% Li₂O
• Sample No 23GT11-011 - 0.22% Li₂O
• Sample No 23GT11-038 - 0.20% Li₂O

Figure 1. Pegmatite Bearing Zone with Sample Results

Figure 2. Initial Reconnaissance Samples Reporting Lithium

Forward Exploration Program

Sampling and mapping are continuing and are aimed at defining the spatial extent of the pegmatite zone and the consistency of the lithium mineralogy and grade within the mineralised system.

Preparations relating to regulatory requirements have also commenced to enable the undertaking of a maiden drilling program. Details of these programs will be released to market after receipt of approvals.

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