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Green Technology Metals Limited (ASX: GT1) (Green Technology, GT1 or the Company) is pleased to present its Quarterly Activities Report for the period ending 30 June 2022.
- A$55M equity raising completed, including A$14M strategic investment from Lithium Americas Corp; strongly supported by leading Australian and international institutional investors.
- Non-binding Collaboration Framework established with LAC to assess a strategically located, integrated lithium chemicals business in North America.
- Phase 1 drilling at Seymour Project successfully extended North Aubry deposit down dip and along strike, as well as improving confidence across multiple areas of mineralisation.
- Thick, high-grade step-out intercepts at North Aubry included:
- GTDD-22-0016 for 34.3m @ 1.32% Li2O from 244.0m
- GTDD-22-0003 for 19.2m @ 2.20% Li2O from 231.8m (incl. 9.7m @ 2.95% Li2O)
- GTDD-22-0013 for 18.2m @ 1.10% Li2O from 304.2m (incl. 3.1m @ 2.05% Li2O)
- Interim resource update saw total Seymour Mineral Resource up 105% to 9.9 Mt @ 1.04% Li2O; Indicated classification increased 2.5x to 5.2 Mt @ 1.29% Li2O.
- Extensive aerial magnetic surveying over GT1’s western Ontario tenements; key targeting vector.
- Two diamond rigs currently operating at Seymour (North Aubry step-outs and Central Aubry zone testing, Pye pending); drilling planned to commence at Root Project during current quarter.
- Baseline environmental and permitting studies at Seymour Project progressing.
- PEA workstreams for Seymour Project and initial downstream facility assessment to ramp-up.
“The equity raising we successfully completed in late April has placed GT1 in an extremely strong position to deal with the current uncertainties in financial markets and forge ahead towards its objective of building the pre-eminent vertically integrated lithium business in Ontario. Lithium market fundamentals haven’t changed - demand is outstripping supply and downstream consumers are seeking rapid development of secure supply chains. It remains an excellent time to be in lithium in North America.”- Chief Executive Officer, Luke Cox
This article includes content from Green Technology Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.