One of Canada’s most advanced lithium explorers now has 24.9Mt in the bag, with more to come
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Special Report: Green Technology Metals has boosted confidence in its 10.3Mt Seymour project in Ontario after increasing indicated resources by 13% to 6.1Mt @ 1.25% Li2O.
In 2023, the hard drilling stock increased its global resources from 9.9Mt to 24.9Mt — with more to come — ahead of its goal of becoming Ontario’s first battery-grade lithium producer.
Green Technology Metals (ASX:GT1) is already making good progress on this front with Dense Media Separation (DMS) test work on material from Seymour successfully producing a high-quality 6.8% Li2O concentrate with recovery rates of about 71.6%.
This confirmed that a modularised DMS circuit is the right option to process spodumene concentrate from Seymour. Great news for investors, as it simplifies the permitting process and does not require floatation reagents and chemicals, which minimises operations risk and lowers production costs.
The increase in indicated resources at Seymour also takes the project’s overall resources up to 10.3Mt at 1.03% Li2O and global inventory across both projects from 24.5Mt at 1.14% Li2O up to 24.9Mt at 1.13% Li2O.
GT1 said the revised resource estimate makes notable improvements over the interim resource that was delivered in December 2022.
These include improved geological confidence achieved through additional peripheral holes and a comprehensive geological reinterpretation from Bayside Geoscience.
Resource models have also been constrained to pit shells generated through the Micromine Pit Optimiser module, which enables more accurate targeting of prospective regions.
Further growth is likely with the company carrying out a 58-hole program totalling 7,736m at both the North and South Aubry deposits that make up Seymour.
Nine interpreted stacked pegmatite units of varying thickness – seven in North Aubry and two in South Aubry are being drill-tested to add to GT1’s overall Seymour resource.
13 holes for 3,000m are completed so far and assays are pending. Meanwhile, planning is underway for a maiden drill program at its recently acquired Junior lithium project.
“We are pleased with the mineral resource and confidence increase to our flagship Seymour project as a result of a refined geological interpretation,” GT1 CEO Luke Cox says.
“We eagerly anticipate further enhancements to the resource as we continue our ongoing >7,000m drilling program and with the commencement of drilling at the newly acquired Junior project in Q1 2024.”
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.