Lithium prices have surged in the new year as an earlier than expected supply shortage, combined with the well-established battery and electrification thematic, fuels robust global demand. With only one operating lithium mine in North America, the United States has recognised its looming domestic lithium supply problem. In response, the National Blueprint for Lithium Batteries was developed to supply the rapidly growing EV market, support long-term U.S. economic competitiveness and meet national security requirements.
Already home to Electrovaya’s 200MWh facility in Ontario, Canada is considered a cornerstone of the battery supply chain and an important partner to the US. In recognition of this, UK-based Britishvolt and locally based Stromvolt are planning new gigawatt-hour scale cell manufacturing facilities in Canada. Naturally, companies with lithium projects proximate to growing downstream infrastructure present an interesting opportunity for investors.
Green Technology Metals Limited (ASX:GT1) is a mineral exploration company that recently listed on the ASX and is focused on the sustainable development of a portfolio of high-grade lithium projects in Ontario, Canada. The company’s current exploration program is targeting rapid and substantial expansion of what is already a significant resource base. Targeted future development of its lithium projects is focused on utilisation of regional low-carbon power sources, most particularly significant hydro power options. Green Technology Metals is led by a premier Board and senior management team with a track record of successfully delivering sustainable hard-rock lithium projects around the world.
“We are perfectly located right in the beating heart of a growing North American battery ecosphere. You've got all of the downstream players nearby –– lithium converters and battery makers are popping up everywhere,” said Green Technology Metals CEO Luke Cox.
- Portfolio of three highly prospective lithium projects located in Canada including an existing JORC Mineral Resource estimate at the Seymour Project of 4.8 Mt at 1.25% Li2O (2.1 Mt Indicated and 2.7 Mt Inferred).
- Phase 1 11-hole 3,500m drilling program at Seymour underway and due for completion in March 2022. Assay results for the first completed step-out hole have returned a thick and continuous intercept of 40m @ 1.54% Li2O (from 244m downhole), confirming the company’s geological modelling and drill targeting.
- A sustainability focused business with strong ESG credentials. Green Technology Metals is actively evaluating low-carbon energy solutions and is targeting access to the Hydro One hydro power interconnector, delivering responsibly sourced power to future development of its lithium assets.
- The company is led by a proven hard-rock lithium team with a successful track record of project delivery, including John Young (founder of Pilbara Minerals Limited, ASX:PLS, Mkt Cap A$6.2bn), Cameron Henry (founder of Primero Group Limited, EPC and Operations contractor to Piedmont’s North American Lithium Hydroxide Plant) and Patrick Murphy (Managing Director AMCI Group, a specialist natural resources group).
Green Technology Metals Portfolio
The company’s portfolio consists of the Seymour, Root and Wisa Projects located in Ontario, Canada. The projects are ideally placed to supply spodumene concentrate to a range of future converters, both locally and within the United States. Existing resource and exploration targets are just the beginning of the lithium deposition potential across the company’s landholding. Management believes that limited historical exploration combined with high prospectivity represents very strong discovery and exploration upside potential.
The Seymour Project is located in Northwest Ontario, Canada. It is situated approximately 60 kilometers from the town of Armstrong and approximately 230 kilometers from the major town and port of Thunder Bay.
In the 1950s, regional exploration began on the property conducted by government geologists, which eventually delineated an Archean Greenstone Belt.
Seymour now holds a JORC Mineral Resource estimate of 4.8 Mt at 1.25% Li2O (2.1 Mt Indicated and 2.7 Mt Inferred). The resource is open both along strike and down dip.
The project also possesses a defined Exploration Target of 22 to 26 Mt at 0.8% to 1.5% Li2O, with 7 kilometers of strike identified. There are also numerous discrete pegmatite occurrences exposed at surface with rock chip samples returned lithium grades up to 4.54 Li2O.
Through the second half of 2021 Green Technology Metals completed a significant initial work program including review of historical exploration, drilling and mining information to build a geological database and model of Seymour. In addition, new LIDAR, aerial photography, composite 3D mapping and geophysical surveying of the property was completed.
An 11-hole 3,500m drilling program at Seymour is now underway and due for completion in March 2022. Assay results from the first completed step-out drill hole have returned a thick and continuous intercept of 40m @ 1.54% Li2O (from 244m downhole), confirming the Company’s geological modelling and drill targeting. This result represents an excellent start to the program and delivers immediate potential for growth in the existing Seymour Mineral Resource estimate.
Green Technology Metals plans to provide an updated Mineral Resource estimate during Q2 2022, post completion of the current drilling program.
The Root Project is located in Northwest Ontario, Canada. It is situated near the town of Slate Falls and approximately 300 kilometers from Thunder Bay.
Green Technology Metals has the rights to patented claims and a mining lease over the McCombe area, which hosts a dense pegmatite swarm. The pegmatite swarm was identified with implicit modelling and features significant grades and widths of up to 20 meters thick
The Root Project has a defined 4.8 kilometer Exploration Target of 20 to 24 Mt at 0.8% to 1.5% Li2O. Historical drilling confirmed depths greater than 100 meters. It also hosts four prospects with outcropping pegmatites offering walk-up drill targets.
The Wisa Project is located in Northwest Ontario, Canada. It is situated 8 kilometers from the US border and approximately 100 kilometers from the town of Fort Francis in the US. The project spans 18.9 square kilometers and is accessible by an established all seasons road that is 40 kilometers from the Trans-Canada Highway.
The Wisa Project is historically underexplored and has a defined Exploration Target of 8 to 10 Mt at 0.8% to 1.5% Li2O, which is supported by exploration results. The project hosts a primary pegmatite with widths exceeding 20 meters and a 1.5 kilometer corridor of mapped surface exposed pegmatite occurrences.
Board and Management Team
John Young - Chairman
John Young is a highly experienced geologist. Young was a co-founder and executive director of Pilbara Minerals Limited (ASX: PLS) which is a successful ASX200 lithium producer. Young played a critical role in growing Pilbara from a junior ASX-listed company to a globally significant $2 billion lithium producer in the Pilbara region of Western Australia. Young currently serves as a non-executive director of ASX-listed Bardoc Gold Limited, Trek Metals Limited and RareX Limited.
Cameron Henry - Non-Executive Director
Cameron Henry is the founding managing director of Primero Group Limited, an engineering and construction contractor which holds globally recognised expertise in lithium processing and operations. At Primero Group, he led the company’s strategic and operational direction resulting in its successful listing on the ASX in 2018 and rapid growth globally.
He has been instrumental in positioning Primero Group to grow within the resources sector as a leader in sub-$300 million CAPEX EPC projects. His contribution includes ensuring Primero Group can differentiate its services offering across design, construction and operation. Primero Group now operates in several regions globally with annual revenues of approximately A$400 million.
Henry has over 20 years of industry experience in the development and delivery of minerals processing, energy and infrastructure projects across Australia, Indonesia and North and South America.
He has been a member of the Australian Institute of Company Directors since 2013. He has also previously held non-executive roles with ASX-listed resource company Titan Minerals Limited.
Patrick Murphy - Non-Executive Director
Patrick Murphy is a managing director at AMCI which is a specialist natural resources group. AMCI is a highly successful and fully integrated global business with exploration, development, production, processing, logistics and marketing expertise, inclusive of substantial bulk materials interests.
Murphy is an experienced mining investment professional. He has spent 13 years at AMCI and the global investment group Macquarie. He has specialized in deploying capital in the raw materials and mining industries for his entire career and is head of AMCI's iron ore business.
Murphy has global experience and a proven pedigree in identifying and successfully executing value-enhancing initiatives in the industry. He holds board positions for several AMCI companies.
Robin Longley – Non-Executive Director
Robin Longley is a geologist with extensive experience in global resources across the gold, nickel, cobalt, lithium and iron ore sectors. His experience includes the role of Managing Director at Helios Gold Limited. Before that, Longley was the general manager of geology for Sundance Resources in Africa from 2007 to 2015.
Longley has an impressive track record of successfully managing and executing exploration programs in a range of different locations. Longley has also delivered progressive results and mineral resources to bring shareholder value and underpin the development of mineral projects.
Longley is well-respected in the industry for his professional integrity, resource growth achievements and commercial leadership.
Longley is the managing director and CEO of Ardiden Limited.
Luke Cox - Chief Executive Officer
Luke Cox is a Professional Geologist and mine manager who has worked in the mining industry for over 25 years. His experience has encompassed exploration, mining and mining finance. Cox’s experience ranges across an extensive range of commodities, including nickel, cobalt, lithium, gold, iron ore and diamonds.
Cox has been involved in developing a considerable number of mineral deposits, including Murrin Murrin, Mlibizi, Mali Green, Binduli, Davyhurst, Francis Creek, Edna May, Greenfinch, Carina, Wodgina and Sunrise. Cox has also been involved in all stages of development from exploration to project feasibility, financing, mine development and operations.
Cox has worked in Europe, Africa, North and South America, the United Kingdom and Australia. He has been an integral part of the owners’ teams of numerous LSE, ASX, TSX-listed exploration and mining companies. Cox has worked extensively with these companies at both the board and executive levels. He also has significant experience in technical and commercial diligence with off-take customers, mining companies and investment groups.
Matt Herbert - General Manager North America
Matt Herbert is a multi-commodity geologist with more than 20 years of experience in mining, processing and rail that spans Australia and PNG. This experience includes start-ups, expansions and end-of-life mining environments.
He has a proven track record in high-intensity and large-scale operations with companies such as Rio Tinto and Fortescue Metals where he has undertaken management roles across the integrated supply chain.
Herbert is a well-respected member of the West Australian mining community.
Joel Ives - Chief Financial Officer and Company Secretary
Joel Ives is a finance and business advisory executive that specialises in CFO, accounting, and company secretarial services. Ives also specialises in mergers and acquisitions for private companies and ASX-listed and public small-cap companies across various industries.
John Winterbottom - General Manager Technical Services
John Winterbottom is a professional geologist with over 25 years of experience in mining and exploration. His experience spans a large range of hard rock commodities, including gold, base metals, laterite nickel/cobalt and iron ore in both open-pit and underground settings. He has managed mining and exploration teams from junior to mid-tier companies. Winterbottom has experience transitioning projects from greenfield concept targets through advanced exploration, PEA, PFS, DFS, project development and operation.
Winterbottom has experience in Africa, Canada and Australia in a wide range of geological settings and deposits, including Fosterville (Kirkland Lake Gold), Rosebery (MMG), Dikilushi (Mawson West), Mt Rawdon (Evolution), Cracow (Evolution), Edna May (Evolution), Frances Creek (Territory Resources), Murrin (Minara Resources), the Superpit (KCGM) and Golden Grove (Newmont).
Winterbottom has extensive experience in ASX and TSX-listed companies. He has worked closely with executive teams and boards to maximize shareholder returns.
Andrea Johnstone - ESG and FN Manager
Andrea Johnstone has more than 10 years of experience in environment and governance compliance across large-scale mining operations that span Australasia and the Americas.
She has a deep knowledge of regulatory protocols required for start-up, steady-state and closure mining requirements. She brings with her a diverse range of experience, including approvals, setting up governance frameworks and managing operational compliance. During her career, she has continued to nurture strong stakeholder relationships in local indigenous communities. Johnstone has also fostered harmonious outcomes for mining companies and First Nations groups.
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