GT1 sees pegmatite extending at depth offering significant resource growth potential. Pic: Getty Images
GT1 extends pegmatites ahead of Root resource upgrade
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- First deep extension holes hit high-grade lithium at the Root project
- Project pegmatites proven to continue at depth
- Drilling continues towards a resource upgrade as M&A intensifies
Special Report: Green Technology Metals’ first two deep extension holes have successfully struck high-grade lithium over significant widths at its Root project in Canada’s Ontario province.
The pair returned intercepts of 17.3m at 1.80% Li20 from 611.9m and 16.3m at 1.27% Li20 from 378.3m as a two phase 14,000m diamond drilling campaign continues towards a resource upgrade.
There is already a 14.6Mt at 1.21% Li20 resource in place at Root and another 10.3Mt at 1.03% over at GT1’s nearby Seymour project to play with as counter-cyclical corporate activity rises in the sector.
Project pegmatites RB006 and RB007 have notably demonstrated continuity to beyond 1.1km downdip from surface and over 800m beneath the current $850 pit design.
Another pegmatite continuing to depth beneath RB006 could also add in more mineralised pegmatite for an underground assessment.
GT1 managing director Cameron Henry said the initial high-grade assays from the deep extension drilling had further strengthened its confidence in expansion.
“We are encouraged to see pegmatites RB006 and RB007 extending at depth, with RB017 showing potentially mineable underground thicknesses, indicating significant resource growth potential,” Henry said.
“To the east, despite some initial delays, the drill program is now underway with the first hole completed.
“We are eager to finish the remaining drilling by year-end and continue advancing the growth of our resource base.”
The second phase 4000m 10-hole campaign will look to further define the pegmatite extents uncovered in last year’s maiden drilling.
Once all the assays are logged and interpretation completed, Green Technology Metals (ASX:GT1) will then book in a revised resource estimate.
Locking up lithium
While lithium prices remain deflated, corporate movement over the commodity suggests the big fish are eyeing off undervalued assets for acquisition.
The Rio Tinto (ASX:RIO) and Pilbara Minerals (ASX:PLS) respective $10b and $560m moves on Arcadium Lithium (ASX:LTM) was one sign, while closer to GT1 territory Sayona Mining (ASX:SYA) and Piedmont Lithium (ASX:PLL) are set to bring their Quebecois assets into a single entity.
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.
