RCS - Technology Minerals - Trenching to commence at Leinster Lithium project

Technology MineralsAnnouncement

23/11/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231123:nRSW3908Ua&default-theme=true

RNS Number : 3908U  Technology Minerals PLC  23 November 2023

23 November 2023

 

Technology Minerals Plc

("Technology Minerals" or the "Company")

 

Knockeen Trenching and New Assay Sampling Programme to Commence at Leinster
Lithium Project, Ireland

Programme Targets Historically Reported 1970's Knockeen Trench Site with 1.8m
Wide Bedrock Spodumene Bearing Pegmatite Dike

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on
creating a sustainable circular economy for battery metals, is pleased to
announce that Global Battery Metals Ltd ("GBML"), (TSXV: GBML; OTCQB: REZZF;
Frankfurt: REZ) has received an approved trenching permit from Ireland's
Geoscience Regulation Office (GSRO) in relation to a short programme of
trenching at its Knockeen lithium pegmatite project. The project is
progressing under an ongoing and successful option agreement between GBML and
Technology Minerals which is being operated by GBML.

GMBL intends to open up a shallow trench for a total of 50 meters in total
length, approximately 1 - 2m deep and up to 1 - 1.5m in width (see Figure 1),
in order to confirm a previously announced historical spodumene bearing
pegmatite dike in bedrock (PR January 18, 2023
(https://gbml.ca/news-releases/global-battery-metals-reports-high-grade-lithium-assays-returned-surface-samples-up-to-3.75-li2o-from-nw-leinster-lithium/)
), and anticipates this will enable 3D visualisation of the 1.8m wide
pegmatite reported from that time. The trench is designed to crosscut the
pegmatite dike and then expose 10 - 20m along the strike length of it in order
to then collect approximately 30-40 assay samples from the trench over the
next 5-10 business days (see Figure 2).  The trenching will also assist in
the interpretation of the dike encountered in the 2023 summer drilling
programme. Work on this small footprint of field area will be undertaken in
close association with the landowner's approval.

Figure 1: Knockeen Lithium Pegmatite Project

GBML intends to open a shallow trench for a total of 50 meters in total length
to confirm a previously announced historical spodumene bearing pegmatite dike
in bedrock.

 

The approved permit is for up to 10 shallow trenches for a combined length of
up to 200m for a period of up to two years on PL 1597. However, the current
work is focusing on this single trench pegmatite target at this time. The
permit was issued based on the full set of GSRO screening criteria being
assessed and approved.

The current phase of detailed exploration work returns to an area where a
forty-year-old historical company report described a trench excavated at
Knockeen Townlands on PLA 1597 which, uncovered in bedrock, exposed a 1.8m
wide spodumene-bearing pegmatite dike. However, no detailed laboratory assays
or geological maps of the trench were reported at that time. Historical
prospecting around the trench also reported the occurrence of up to 10 large
boulders of spodumene bearing pegmatite at surface. This work will help inform
2024 exploration planning.

Alex Stanbury, CEO of Technology Minerals, said: "We are pleased with the
progress of the Leinster lithium project, with GBML having secured approval
for progression of exploration efforts at Knockeen. The trenching and assay
sampling programme will help to further deepen our understanding of the
Leinster asset and we look forward to updating the market as we continue to
advance this lithium project."

Michael Murphy, CEO of Global Battery Metals, said: "With the goal of
confirming lithium mineralisation in our first round of exploration achieved,
the Company will expedite additional exploration efforts to further define
identified lithium mineralisation. Knockeen has a storied history, and after
drilling consistent, near-surface lithium intersects, we believe that
trenching will augment our growing dataset, which can help to enhance this
exciting developing lithium project."

With first phase drilling recently concluded at Knockeen (PR November 15, 2023
(https://gbml.ca/news-releases/global-battery-metals-announces-initial-knockeen-dike-swarm-assay-results-from-leinster-lithium-project-ireland/)
), GBML has succeeded in identifying a new LCT pegmatite system of
significance, importantly recording 24 intervals of lithium bearing spodumene
pegmatites intersected across nine holes drilled. The spodumene pegmatites
range in width between 0.10m up to 0.63m (true width) with the highest values
grading up to 2.57% Li(2)O. Detailed prospecting and rock sampling across
Knockeen in late 2022 and early 2023 identified up to 66 samples containing
the lithium bearing mineral and returned Li2O% lithium contents ranging up to
3.75 % Li2O / 17,410 ppm Li.

Figure 2: Knockeen Lithium Pegmatite Project - Close Up of Trench Location

The trench is designed to crosscut the pegmatite dike and then expose 10 - 20
m along the strike length.

 

Geology & Structure

The Property lies along part of a 135km long regional structural trend of
known lithium-bearing pegmatite bedrock occurrences, situated along the
south-eastern margin of the Leinster Granite Massif and centered on the Aclare
and Moylisha occurrences which were discovered during 1960s and 1970s and are
currently being explored by Blackstairs Lithium (under the Ganfeng -
International Lithium joint venture).

This trend is focused along and within a broad regional NE-SW trending
structural zone termed the East Carlow Deformation Zone (ECDZ) which runs for
over 135km along the SE flank of the Leinster Granite Massif between Dublin in
the NE and north of New Ross to the SW. A recent detailed regional structural
review and interpretation by the company using remote sensing data and
regional geophysical data sets confirmed that PLA 1597 lies within the key
ECDZ structural zone.

The Knockeen target area lies directly within this zone as it passes through
the northern margin of the Backstairs Granite Pluton whilst the southern part
of the license is crosscut by a splay of the ECDZ which passes south westwards
along the southern margin of the Backstairs Granite Pluton. This southerly
splay has been termed the North Wexford Deformation Zone (NWDZ) and provides a
second highly prospective trend for the focus for ground exploration
activities Several target areas have already been identified for detailed
prospecting and mapping which will commence over the coming months.

About the Leinster Lithium Project

Located south of Dublin in the counties of Wicklow and South Carlow, the
Leinster Lithium Project consists of 16 prospecting license areas covering
approximately 525 km² situated along strike to nearby Blackstairs Lithium's
Avalonia Project (297 km² joint venture between Ganfeng Lithium Co. Ltd. and
International Lithium Corp.). All of GBML's license holdings are located
within or along the important East Carlow Deformation Zone, which is
interpreted to control the emplacement of an existing LCT pegmatite field at
the Blackstairs Mountains.

With first phase drilling concluded at Knockeen, GBML has succeeded in
identifying a new and structurally controlled LCT pegmatite system of
significance, importantly recording 24 intervals of lithium bearing spodumene
pegmatites intersected across nine holes drilled. The spodumene pegmatites
range in width between 0.10m up to 0.63m (true width) with the highest values
grading up to 2.57% Li(2)O. No drilling has ever been carried out at the
Knockeen Prospect previously and intersecting lithium bearing pegmatites in
all the holes drilled so far is considered a major technical success for the
Company. Prior surface exploration activities identified and confirmed
expansive surface boulder trains of lithium pegmatite lithologies in a number
of areas across the Company's property, with recent assay results of 66 rock
samples analyzed by ALS Laboratories
(https://gbml.ca/news-releases/global-battery-metals-reports-high-grade-lithium-assays-returned-surface-samples-up-to-3.75-li2o-from-nw-leinster-lithium/)
earlier this year returning Li(2)O% lithium contents ranging up to 3.75%
Li(2)O / 17,410 ppm li.

Responsibility to the Environment

All mineral exploration activities in Ireland take place under the auspices of
the GSRO, a division within the Government Department of the Environment,
Communications & Climate Change. Exploration is governed under the
framework of both Irish and EU legislation that has been implemented to ensure
that the environment is protected during exploratory work. Prospecting license
holders must comply with all the relevant legislation. Technology Minerals and
GBML are pleased to confirm that they adhere to the highest standards of good
practice in relation to its ongoing exploration activities having completed a
detailed GSRO "Appropriate Assessment" process prior to commencement which was
reviewed, approved and signed off by the appropriate oversight authorities.
The Company's Directors understand that social license is key to unlocking
positive exploration outcomes by following low impact / low sound / low
disturbance exploration programme best practice for environmental sensitivity.

Competent Person

All scientific and technical information in this announcement has been
prepared under the supervision of and reviewed and approved by EurGeol Vaughan
Williams, M.Sc., P.Geo., (Principal of Aurum Exploration Services currently
providing exploration services to GBML and to LRH Resources Limited), a
"qualified person" within the meaning of National Instrument 43-101.

Quality Assurance/Quality Control

Quality Assurance/Quality Control of drill core samples and associated assay
results are monitored by GBML and Technology Minerals through a quality
assurance/quality control ("QA/QC") protocol which includes the insertion of
blind standard reference materials, blanks, and duplicates at regular
intervals. Core is drilled in HQ core diameter and each 3 meters of core
recovered is orientated by the drilling contractor on completion of each run
drilled. Drill core is laid out in strong core boxes and transported by
company geologists from the drill rig to GBML's secure logging facility. Drill
core is then logged using an established logging procedure capturing detailed
lithological data as well as measuring all structural elements using a Reflex
IQ Logger for accurate orientation of all contacts and structures. The core is
marked up for sampling and sawn on site using a diamond core saw. Half core
samples are then bagged and secured using plastic cable ties and the samples
are then securely transported to ALS Laboratory ("ALS") facilities in County
Galway, Republic of Ireland. Samples are analysed for lithium as well as
multi- elemental trace elements using the specific LCT pegmatite analytical
suite ME-MS89L offered by ALS. ALS also performs its own internal QA/QC
procedures to assure the accuracy and integrity of results. GBML and
Technology Minerals are unaware of any drilling, sampling, recovery, or other
factors that could materially affect the accuracy or reliability of the data
referred to herein.

 

Enquiries

 

 Technology Minerals Plc
 Robin Brundle, Executive Chairman             +44 20 4582 3500

 Alexander Stanbury, Chief Executive Officer

 Oberon Investments Limited
 Nick Lovering, Adam Pollock                   +44 (0)20 3179 0535

 Gracechurch Group
 Harry Chathli, Alexis Gore, Anysia Virdi      +44 20 4582 3500

 

 

Technology Minerals Plc

 

Technology Minerals is developing the UK's first listed, sustainable circular
economy for battery metals, using cutting-edge technology to recycle, recover,
and re-use battery technologies for a renewable energy future. Technology
Minerals is focused on raw material exploration required for Li-ion batteries,
whilst solving the ecological issue of spent Li-ion batteries, by recycling
them for re-use by battery manufacturers. Further information on Technology
Minerals is available at www.technologyminerals.co.uk
(http://www.technologyminerals.co.uk/) .

 

Cautionary Statement Regarding "Forward-Looking" Information

This news release contains certain "forward-looking information" and
"forward-looking statements" (collectively "forward-looking statements")
within the meaning of applicable securities legislation. All statements, other
than statements of historical fact, included herein, without limitation,
statements relating to the future operations and activities of the Company,
are forward-looking statements. Forward-looking statements are frequently, but
not always, identified by words such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible", and similar expressions, or
statements that events, conditions, or results "will", "may", "could", or
"should" occur or be achieved. Forward-looking statements in this news release
relate to, among other things, the Company's exploration plans at the Leinster
Lithium Project, including the drill program and results therefrom. There can
be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in
such statements. Forward-looking statements reflect the beliefs, opinions, and
projections on the date the statements are made and are based upon a number of
assumptions and estimates that, while considered reasonable by the Company,
are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors, both known
and unknown, could cause actual results, performance, or achievements to be
materially different from the results, performance or achievements that are or
may be expressed or implied by such forward-looking statements and the parties
have made assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation, the ability to complete
exploration work, the results of exploration, continued availability of
capital, and changes in general economic, market and business conditions, and
the receipt of any required regulatory approvals. Readers should not place
undue reliance on the forward-looking statements and information contained in
this news release concerning these items. Readers are urged to refer to the
Company's reports for a more complete discussion of such risk factors and
their potential effects, publicly available at SEDAR+, the Canadian Securities
Administrators' national system that all market participants use for filings
and disclosure, at  www.sedarplus.ca (http://www.sedarplus.ca) . The Company
does not assume any obligation to update the forward-looking statements of
beliefs, opinions, projections, or other factors, should they change, except
as required by applicable securities laws.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAPPGQUGUPWPUP