The Conversation (0)
Global Battery Metals Ltd. (TSXV: GBML) (OTCQB: REZZF) (FSE: REZ) (the "Company" or "GBML"), a critical mineral exploration company focused on growth-oriented lithium and other battery metal projects, announces multiple drill targets and the potential discovery of up to six LCT (lithium-cesium-tantalum) pegmatite dikes extending across a prospective lithium trend at Prospecting Licence Area 1597 ("PLA 1597"), have now been identified through the return of favourable test results at its Leinster Lithium Project (the "Property" or the "Project").
Following the previously reported identification of a lithium bearing spodumene pegmatite surface boulder train on PLA 1597, key updates include:
- A detailed deep overburden (base of till) program was recently completed for a total of 373 samples covering an area of 600m x 450m over the location of an extensive spodumene pegmatite float boulder train and an associated historically reported trenched bedrock occurrence;
- The interpreted geochemical results indicate the potential discovery of up to six LCT (lithium-cesium-tantalum) pegmatite dikes across the Knockeen target area;
- Follow-up drill program plans, currently calling for up to nine drill pads (with two holes planned per pad), are being finalized;
- ALS Laboratories (Loughrea, Ireland) analysis included comprehensive testing for a specific suite of elements which includes lithium as well as multiple rare earth elements of which cesium and tantalum are typically associated with this type of LCT Pegmatite target;
- Drilling permit submissions are being finalized and will be submitted to the governmental regulatory body as part of the due process for standard screening procedures for drilling programs in Ireland and Europe; and
- A local area drill contractor's availability has been secured and will be mobilized as soon as the permitting is completed.
Michael Murphy, CEO of GBML, said, "These results are both exciting and informative. The deep overburden samples have helped us to zero in on a distinct set of drill targets and the Company has ambitious plans for spring drilling. The potential to drill up to six interpreted dikes along a lithium anomaly trend line across this claim has the team highly motivated about the entire property. We are told the drill permitting process in these areas of Ireland is relatively straightforward and our paperwork is being prepared with the intent to submit in a matter of days. Based on all of our research and testing, the potential to uncover further significant lithium occurrences along the recognized regional scale south-east Leinster LCT pegmatite corridor is a real possibility. Needless to say, we will be moving quickly to verify what we believe we are into."
Exploration to date has included surface lithogeochemical sampling with an associated detailed deep overburden sampling grid - both yielding excellent results and when combined potentially confirming the presence of multiple LCT pegmatite dikes below surface at the Knockeen target on PLA 1597. The pegmatite dike targets are intrusive bodies that typically form swarms of several separate dikes which range in thickness and cross cut the granitic and metasedimentary host rocks. The dikes are typically composed of Spodumene (lithium aluminium silicate in the pyroxene family) as well as accessory minerals including quartz, feldspars and micas. While the lithium content of the samples collected to date are at very significant grades, the supporting trace element geochemistry of the other elements including the Rare Earth Elements (REEs) that occur naturally at very low levels are very important and significant indicators providing corroborative evidence for the presence of the dikes.
Figure 1: Deep Overburden sampling grid showing anomalous lithium (ppm)in linear trends across the Knockeen Prospect.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7080/159058_49ecfa0ef48dd9c3_001full.jpg
The Knockeen Prospect has now reached a significant confidence level to plan a staged diamond core drilling program to test the six anomalous geochemical trends. The drill program parameters are being finalized, including plans accounting for up to nine drill pad locations, and discussions are in hand with a drilling contractor. The drilling screening process has commenced with the governmental regulatory body. This process is a standard procedure for all drill programs in Ireland and across Europe.
During the recent and ongoing fieldwork, a total of 66 rock samples were collected and analysed. Assay results of the samples by ALS Laboratories reported Li2O% lithium contents ranging up to 3.75 % Li2O as reported in the press release date January 18, 2023.
In conjunction with this work, the detailed grid comprising of 373 deep overburden (base of till) samples were collected over a closely spaced sample grid over 600m x 450m covering the area of the historical trench as well as the spodumene pegmatite float boulders. The results have been very encouraging and the multi-elemental results have been interpreted to show up to six clear linear anomalous trends, which are anomalous in lithium, as well as the supporting REE elements of cesium and tantalum, which combine to indicate the potential presence of LCT signature pegmatite dykes at shallow depths of between 1m - 7m below ground surface.
The area of the exploration is centred on a locality where a forty-year-old historical company report described a trench excavated at Knockeen Townland which uncovered in bedrock, a 1.8m wide spodumene-bearing pegmatite vein. However, no detailed laboratory assays or geological maps of the trench were reported at that time.
Figure 2: Location of the Knockeen prospect on PLA 1597 showing pegmatite analytical results* and the deep overburden sampling grid (*results previously reported PR 18/01/2023)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7080/159058_49ecfa0ef48dd9c3_002full.jpg
Figure 3: Deep Overburden sampling (top) and Spodumene pegmatite samples from Knockeen (bottom)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7080/159058_49ecfa0ef48dd9c3_003full.jpg
Please see the Company's NW Leinster Project Overview for additional program details, in addition to the latest version of the Company's Investor Presentation available for download from the GBML website (www.gbml.ca).
Competent Person
All scientific and technical information in this announcement has been prepared under the supervision of EuroGeol Vaughan Williams, M.Sc., P.Geo. (Principal of Aurum Exploration Services currently provides exploration services to GBML and to LRH),a "qualified person" within the meaning of National Instrument 43-101.Vaughan Williams is also company secretary of LRH.
About Global Battery Metals Ltd.
GBML is an international mineral exploration and development company with a focus on metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in four battery metal projects: (1) an option to acquire up to a 90% in the North-West Leinster lithium property in Ireland; (2) a 100% interest in the Lithium King property in Utah; (3) an option to acquire up to a 100% interest in the La Poile lithium project in Newfoundland; and (4) a 55% stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. GBML will retain a 0.75% net smelter royalty. GBML's common shares are listed on the TSX Venture Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC Markets (OTCQB: REZZF).
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
E: MM@gbml.ca
W: www.gbml.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans at the Leinster Lithium Property. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work given the global COVID-19 pandemic, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/159058
Figures 1 Outcrop at the Discovery Prospect, Yallalong Project
Figure 1. HMW Project looking north
Table 1 – Summary of 2023 McDermitt MRE1 at the reporting cut-off of 1,000 ppm. Note: totals may vary due to rounding