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Green Technology Metals Limited (ASX: GT1) (GT1 or the Company) is pleased to advise of an interim Mineral Resource Estimate update for its Seymour Lithium Project in northwest Ontario, Canada.
HIGHLIGHTS
- Total Mineral Resource tonnage up 105% to 9.9 Mt @ 1.04% Li2O.
- Indicated Category Mineral Resource increased 2.5x to 5.2 Mt @ 1.29% Li2O
- Approximately 53% of total Seymour Mineral Resource classified as Indicated.
- North Aubry deposit remains open along strike and at depth.
- Further step-out drilling of North Aubry set to continue over H2 2022.
- Very low discovery cost for new resources circa $1.30 tonne.
Table 1: Global Seymour (Aubry) Mineral Resource Estimate
1. MRE produced in accordance with the 2012 Edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves.
2. Figures constrained to US$4,000/t SC6 open pit shell and reported above a 0.2% Li2O cut-off; numbers have been rounded.
“WeareverypleasedwiththeoutcomesfromtheinterimMineralResourceupdateatSeymourfollowingcompletion of the successful Phase 1 drilling program at North Aubry earlier this year. The result is ademonstration of the clear potential that exists at our flagship Seymour asset, and we remain focussedondeliveringfurtherhigh-graderesourcegrowthoverthesecondhalfof2022.”CEO,LukeCox
Seymour Project interim Mineral Resource Estimate update snapshot
The updated Mineral Resource Estimate (MRE) for the Seymour Lithium Project builds on and extends the MRE undertaken by Mr Phillip Jones in 2019 on behalf of Ardiden Limited. It incorporates all historic drilling plus the recent Phase 1 drilling undertaken at North Aubry by GT1. This comprises a total of 199 diamond holes (predominantly NQ core diameter), of which 23 were from the GT1 Phase 1 campaign, for a total of 26,244 metres.
Figure 1: Location map of northern area of the Seymour Project showing North and South Aubry deposits, Central Aubry zone and Pye prospect
The updated MRE comprises two deposits within the Aubry complex at Seymour, North and South Aubry. It has been constrained to pit shells generated through the Micromine Pit Optimiser module. Pegmatite tonnes and grade are reported above a 0.2% Li2O cut-off within the pit shell on a dry basis.
Table 2: Seymour 2022 MRE Grade-Tonnage Data
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This article includes content from Green Technology Metals Limited , 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.
GT1:AU
Strategy Update and Cost Restructure
HIGHLIGHTS
- Strategic focus on scaling Envirostream, the Battery Recycling division, due to the potential of increased recycling volumes and cashflows over the years ahead
- Battery Recycling: Continued safe operations, growing volumes and operating profits, and seek partners to scale operations in line with the expected waste outlook
- Livium is well advanced on the near-term commercialisation pathways of its other technologies:
- Battery Materials: Defined pathway for development of an Australian LFP demonstration plant with funding to be secured directly into VSPC from strategic partners
- Lithium Chemicals: Complete JDA activities with MinRes, including assessment of alternate commercialisation pathways and selection of the preferred lithium product
- Restructuring of the organisation and cost reductions being undertaken with estimated annual ongoing savings of A$1.5m
Comment regarding the strategic update from Livium CEO and Managing Director, Simon Linge
"We have advanced our strategy to inflection points, with the next phases of growth for each division requiring strategic partners to underpin their growth and development. With a focus on strategic growth partners, we have reviewed our resourcing and made the decision to restructure our organisation and reduce costs.
Livium remains committed to delivering returns for shareholders. Whilst organisational changes may impact our ability to react to opportunities, right sizing the organisation assists in resetting the Company's cost base to become sustainable over this critical period."
NEAR TERM PLANS
The following activities have been identified as key to delivering value in the near term:
- Battery Recycling: Continued safe operations, growing end-of-life volumes, and seeking partners to scale operations in line with the expected waste outlook and to expand into related services
- Battery Materials: Secure funding for an Australian LFP demonstration plant from government and private strategic partners, who will invest directly into VSPC
- Lithium Chemicals: Complete JDA activities with MinRes, including assessment of alternate commercialisation pathways and selection of the preferred lithium product
- Corporate: Complete implementation of organisation restructure and other cost saving initiatives.
BATTERY RECYCLING GROWTH OUTLOOK
The Battery Recycling division generates revenue today, is the largest recycler of lithium-ion batteries in the country, draws on our technical expertise to provide value-added services and has strong commercial relationships. Strategic focus is being placed on Battery Recycling, through Envirostream, due to the potential of increased recycling volumes over the coming years.
During CY2024, Envirostream successfully increased volumes of EV' andESS2 with most of the volume being received under exclusive customer arrangements. Over CY2024, Envirostream collected 736k tonnes of large format batteries and it is estimated that there are five times these volumes available today which are increasingly expected to be recycled due to consumer demand and government regulation. In their Battery Market Analysis, B-cycle show how EV and ESS batteries are expected to dominate3.
Figure 1. EOL Battery Projections by Market Segment3
Focusing on only EV / ESS for the balance of the decade demonstrates the near-term opportunity for Envirostream collections growth relative to current performance.
Figure 2. 5-Year EV and ESS EOL Battery Projections3
The near-term outlook for Envirostream is positive, enabling increases of volumes collected and processed, and providing an opportunity to expand our service offerings in line with market requirements.
To accommodate expectations of market growth, the business intends to explore deploying growth capital to improve operating efficiencies and expand capacity. The company has appointed advisors to coordinate discussions around partnership and growth funding options, which includes both strategic partners and other financiers.
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This article includes content from Livium Ltd, 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.