GT1 is extending its roots beneath the open-pit inventory. Pic: Getty Images
Green Technology Metals aims to grow Ontario lithium resource in new drill drive
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- 14,000m diamond campaign begins in Ontario
- GT1 wants to expand 14.6Mt at 1.21% Li2O resource and find potential repeats
- Testing underground extensions and following up on high-grade strikes recorded last year at Root Bay East
Special Report: Green Technology Metals has fired up the rig for a large-scale campaign directed at improving the economics and mine life for its Root project in Ontario, Canada.
Green Technology Metals (ASX:GT1) kicked off a big-time drill campaign to grow the resource beneath the current open-pit inventory.
The 14,000m, two phase diamond program has the potential to increase the mine life and offer improve the economics of its second project which GT1 anticipates will be up and running by 2028.
The Root project is anticipated to be much larger than their first project that is currently in advanced stages of permitting and approvals. The company has so far accumulated resources of 14.6Mt at 1.21% Li2O for a combined global inventory of 24.9Mt @ 1.03% Li20 and hopes to grow this resource with their latest drilling campaign.
GT1’s strategy is to become the province’s first integrated lithium producer having recently attracted a premium investment from global leading South Korean EV battery metals producer EcoPro Innovation.
GT1 managing director Cameron Henry said the company was excited to be back on the highly prospective ground as it continues to explore and expand.
“Last year, we completed our maiden drilling program at Root Bay East which validated significant potential for the repetition of the Root Bay deposit along strike, so we are looking forward to continuing our drilling program over this area after we complete the extension drilling at Root Bay,” Henry said.
“I’m currently on-site in Canada, where I’ve had the opportunity to spend time with GT1’s geology and drilling teams during the first week of drilling.
“It’s great to see activity resuming at Root, with the camp reopening and our personnel remobilising.”
Plan of attack
The first phase of drilling will involve a 10,000m, 16-hole diamond program over the established Root Bay deposit, followed by 4000m across 10 holes at Root Bay East.
Three priority extension holes are currently testing the down-dip extensions of pegmatites to support underground resource expansion at Root Bay. Whilst works over the eastern prospect are planned to further delineate the pegmatite extents uncovered from last year’s maiden drilling, which returned several significant intercepts up to the tune of 23.3m at 1.16% Li2O.
Once all assays are in the books and subsequent interpretation completed, a revised mineral resource will then be prepared.
Land of lithium
While prices might have descended from what were record-shattering peaks, GT1 has continued undeterred on its strategy to turn to production in The Great White North.
An ASX-listed land rush which began a couple years ago showed the allure of establishing mining operations in Canada’s mining-friendly provinces.
Though a rush in production out of Africa and China have helped subdue prices, demand for lithium in EVs and energy storage continues to grow.
Major market players anticipate the return of deficits from around 2027 as mines cut down on production, offering an opportunity to those that can stick it out through the cycle.
This article was developed in collaboration with Green Technology Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
