GT1 makes first new lithium discovery in over 50 years at Seymour

Green Technology Metals has made the first new discovery in over 50 years at its flagship Seymour lithium project in Ontario, Canada.

Channel sampling at the new Blue Bear deposit, which has surface exposure under thin cover with similar strike and geometry to North Aubry, returned assays such as 12.4m at 2.38% Li2O and 14.2m at 1.17% Li2O.

This was confirmed further by diamond drilling with all 14 holes drilled to date intersecting pegmatite with notable results from the six assays returned to date being 13.9m at 1.53% Li2O from a down-hole depth of 13.8m (GTDD-22-0350) and 14.4m at 1.3% Li2O from 21.1m (GTDD-22-0360).

Green Technology Metals (ASX:GT1) is continuing to rapidly delineate Blue Bear with ongoing diamond drilling and channel sampling while a second diamond rig is undertaking sterilisation drilling for Seymour plant site and infrastructure.

“This is the first discovery at Seymour in over 50 years. To find a spodumene-bearing pegmatite under cover utilising classic geological and modern geophysical and geochemical techniques is testament to the abilities of the GT1 technical team and our exploration modelling,” chief executive officer Luke Cox said.

“We will now drive hard to rapidly delineate the scale of this new discovery, as well as testing further new targets in this area of North Seymour. This is expected to culminate in an updated Mineral Resource estimate for the Seymour Project in coming months.

“We also continue to rapidly progress Preliminary Economic Assessment work on the development of Seymour, with scheduled completion in Q1 2023.”

Blue Bear deposit

Blue Bear, located about 500m southeast of the Aubry Complex on the Pye West Limb and the same current mine permitting and baseline study boundary, is located on a Priority 1 target zone delineated during target generation and followed up by diamond drill hole.

Mechanical stripping of the area has delineated a pegmatite surface exposure with similar size, geometry and orientation to the North Aubry deposit.

There is also potential for the two deposits to be associated – including a connection at depth, forming a larger mineralised systems that GT1 plans to test with step-out drilling.

Further targets

While the discovery of Blue Bear is exciting in its own right, its discovery also provides strong validation of the exploration model that the company has adopted at Seymour for target generation – in particular the ability to locate non-outcropping pegmatites beneath glacial till.

This exploration model represents the compilation of multiple data sets collected and commissioned by GT1 since its inception last year, including aerial photography, lidar survey along with aerial radiometric and magnetic data.

Interpreted data offers numerous similar targets in the broader northern Seymour Project area, including along the same Pye West Limb upon which the Blue Bear discovery is situated.

Further exploration is planned to test this new target pipeline at Seymour over the next 12 months.

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.