Green Technology Metals Ltd (ASX:GT1) is trading higher as it continues to intersect high-grade lithium pegmatites during resource definition drilling at the 100%-owned Root Project in Ontario, Canada
The North America-focused multi-asset lithium explorer has completed the first phase of drilling at the McCombe lithium-caesium-tantalum (LCT) prospect of Root, comprising 22 diamond holes, all of which returned thick and high-grade spodumene pegmatites from surface.
The latest assays received for 11 diamond holes at McCombe include:
- RL-22-0041 – 15.9 metres at 1.12% Li2O from 98.1 metres, including 6 metres at 1.91% from 99 metres;
- RL-22-0027 – 12.3 metres at 1.34% from 3.4 metres, including 11.4 metres at 1.41% from 4.2 metres;
- RL-22-0035 – 12.7 metres at 1.28% from 66.5 metres; and
- RL-22-0038 – 8.4 metres at 1.18% from 81.5 metres, including 5 metres at 1.91% from 81.5 metres.
Investors have welcomed the results, sending shares as much as 6.7% higher in this morning’s ASX trading to A$0.96 and since the market close on December 20, GT1 has risen from A$0.725.
Plan view of McCombe interpreted pegmatite, thickness, and recent assays.
Drilling area extended
Drilling at Root was initially focused on McCombe but has now expanded 1 kilometre east to the Morrison prospect, with two drills rigs actively working at the project.
Work at McCombe has shown that it comprises one major pegmatite averaging 10 metres thick striking east-west and four pegmatites striking northeast.
These are open along strike and down dip, which the company plans to explore in the coming weeks to incorporate into a maiden mineral resource estimate (MRE) targeted for publication this quarter.
Over at Morrison, initial drilling will comprise 20 holes for 2,500 metres to confirm historical sampling.
More work upcoming
“The high-grade assay results received from Phase 2 extensional drilling at McCombe demonstrate continuation of the lithium-bearing pegmatites along strike and down dip,” GT1 chief executive officer Luke Cox said.
“Several additional lithium-bearing pegmatites have been intersected to the northeast and drilling will continue to delineate their extent.
“The second drill rig mobilised to the Morrison prospect just before Christmas and completed six diamond holes, all intersecting pegmatite.
“Logging and assaying are now underway with the rig continuing in a north and west direction towards McCombe.”
Root Project location map, McCombe, Morrison and Root Bay prospects.
The Root Project, along with the flagship Seymour Project 200 kilometres to the east and Wisa Project to the south, make up the Ontario Lithium Projects 100% owned by GT1.
Root is accessible via all-weather roads and airports with emergency response capability in Slate Falls and Sioux Lookout, while Canada’s transcontinental railway connects it to Seymour with a direct line.
The company also has claims on the Allison and Solstice lithium projects in the highly prospective Archean Greenstone tenure in northwest Ontario.
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