Lithium discovery grows potential around GT1’s Seymour project

Maiden drilling at Junior provides confidence for more discoveries near GT1’s Seymour lithium hub
New discovery a potential feed source for planned concentrator
Definitive feasibility study underway ahead of future investment decision

Special Report: Green Technology Metals has uncovered new shallow pegmatites to add to its Junior project east of the flagship Seymour lithium project in Canada’s Ontario province.

Drilling assays from the Despard prospect confirmed strong lithium grades up to 2.5% Li2O hosted by a shallow, stacked system at the Green Technology Metals (ASX:GT1) project.

Near surface mineralisation at Junior’s Main Zone has now been validated over 700m along strike and up to 200m across, with the priority target remaining open to the east and west.

Assays are in the books for the first four holes of the planned 69-hole maiden campaign, returning an encouraging headline strike of 18.7m at 1.39% Li2O.

GT1 believes its least-advanced lithium project lies largely underexplored, and that maiden drilling has already provided confidence in its prospectivity for more discoveries.

Multiple satellites

The company’s Eastern Hub development strategy envisions multiple satellites supplying long-term feed for a planned concentrator at Seymour and managing director Cameron Henry said these early results are a game-changer.

Despard is located just 20km to the east of Seymour, which including the Root project hosts a significant hard rock lithium resource of 24.9Mt at 1.13% Li2O.

“Exciting results from Junior, where the first pass drilling has intersected near surface, thick, and high-grade intercepts, confirming a stacked pegmatite system and mineralisation along an impressive 700-metre strike length at Despard!” Henry said.

“This is our first drill program at Junior and has been focused on a small area at Despard, so these results validate the enormous potential of the broader 10,841-hectare Junior Project.”

“Importantly, they confirm the effectiveness of our exploration strategy.”

Henry added the company was eager to continue drilling as it looks to make new discoveries to feed a hub and spoke operating model around Ontario’s Thunder Bay region.

He said the priority for the Eastern Hub was to finalise exploration drilling over Despard and then an infill campaign for integration into an ongoing definitive feasibility study.

“In 2025, we plan to expand our efforts by exploring additional targets at Despard before moving on to other promising areas within the broader Junior Project,” Henry said.

“The momentum is growing, and these results underscore the immense potential of the project and the broader Eastern Hub development strategy.”

Despard deposit drill program and drilling results for four holes. Pic: GT1

Eastern hub promises

One of the lithium players who have kept busy through a price downturn, GT1 expects its Seymour flagship to host a mine and concentrator, with significant amounts of government funding secured for infrastructure.

While lithium prices are depressed at the moment, EV demand is continuing to rise.

Market leaders expect we will see deficits return in the coming years. Arcadium Lithium, currently in line to be sold for $10 billion to Rio Tinto, sees deficits from around 2027 as mines cut production.

Rio recently approved its US$2.5bn investment in the 60,000tpa Rincon project in Argentina and is likely to accelerate the construction of Arcadium’s idled Canadian assets in the James Bay region.

It shows the potential benefits companies who hold their conviction could have as the market turns.

Work is underway on a definitive feasibility study for GT1’s North American ambitions, with an investment decision expected to be open for contemplation early next year.

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.