REG - Technology Minerals - Assay results include 2.55% Li2O at 2m depth

Technology MineralsAnnouncement

12/12/2023 13:00

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RNS Number : 5216W  Technology Minerals PLC  12 December 2023

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

12 December 2023

 

Technology Minerals Plc

 

("Technology Minerals" or the "Company")

 

Knockeen Trenching Results include 2.55% Li(2)O Sample at Two Metres Depth

 

Assays Confirm Near-Surface Lithium Find Along Spodumene Pegmatite Dike System
at Leinster Lithium Project, Ireland

 

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on
creating a sustainable circular economy for battery metals, is pleased to
announce assay results from the initial Knockeen shallow trench sampling
programme
(https://www.londonstockexchange.com/news-article/TM1/completion-of-sampling-programme-at-leinster/16243767)
opened up at 1-2m depth and completed in December 2023 at its Leinster Lithium
Project in Ireland. The project is being operated by Global Battery Metals Ltd
("GBML"), (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), and is progressing under
an option agreement between GBML and Technology Minerals.

 

Highlights:

 

·    Assay results (see Table 1) show lithium mineralisation in all five
trench samples collected at 1m intervals along the exposed spodumene pegmatite
dike, grading as high as 2.55% Li(2)O (source: ALS Laboratories, Loughrea,
Ireland).

·    Several grab samples taken from large pegmatite boulders unearthed in
the trench at depths between 1-2m returned grades as high as 3.00% Li(2)O.

·    This trench pegmatite is interpreted to be the same pegmatite
intersected at 30m depth in drill hole 23-1597-02 and at 60m depth in drill
hole 23-1597-03.

·    Rock and trench profile soil assay results will be used for 2024
exploration planning on the prospect and at several other target areas on
licence property.

·    This dike is just one of the spodumene bearing dikes intersected in
the drilling which form a broadly NE-SW trending dike swarm of up to seven
dikes in 24 separate intercepts in nine diamond cored drill holes.

Alex Stanbury, CEO of Technology Minerals, said: "We are very pleased to
report these assay results at Knockeen, which showed lithium mineralisation in
all five trench samples collected at 1m intervals and grades as high as 2.55%
Li(2)O.  The consistency of the results we are seeing continue to build on
our belief in the asset and add to the potential value of the prospect."

 

Michael Murphy, CEO of Global Battery Metals, said: "We're thrilled to see
2.55% Li(2)O at just 2 metres depth. Successful exploration is about resource
discovery paired with strong economics, and the implication of hitting high
grades at near-surface levels can lead to lower drilling costs and increased
efficiencies in exploration. In general, we know that samples from this area
grade up to 3.5%, but the consistency that we continue to see is key to
securing serious commercial partners. Still, just knowing that a pick and
shovel can get us to 2.55% has me thinking about the district-scale
opportunities ahead."

 

 

 Sample ID  Trenched Dike Samples - 1m Intervals  Li ppm  Li2O%

 AES62943   Metre 1- Dec 2023                     3,090   0.67
 AES62844   Metre 2 - Dec 2023                    2,830   0.61
 AES62945   Metre 3 - Dec 2023                    11,850  2.55
 AES62946   Metre 4 - Dec 2023                    1,500   0.32
 AES62947   Metre 5 - Dec 2023                    4,270   0.92

 Sample ID  Grab Samples - Trenched Boulders      Li ppm  Li2O%

 AES62948   Grab 1 - Dec 2023                     13,950  3.00
 AES62949   Grab 2 - Dec 2023                     10,100  2.17
 AES62950   Grab 3 - Dec 2023                     9,200   1.98

 

Table 1: Highlight results from Knockeen Lithium Pegmatite Trenching Programme
(December 2023)

* Li(2)O % = Li ppm % (x 2.153)

 

Trench Results

The current trench was designed to confirm an historical trenched spodumene
occurrence intersected by a previous operator in the mid-1970's. The new
trench lies 25m along trend and to the east of the old trench and forms a "T"
shape by first cross-cutting the pegmatite dike with a 25m N-S trench
(23-1597-TR01) and then exposing the dike along five meters of its length to
the west (23-1597-TR02) towards the historical trench occurrence. (see Images
1 & 5).

 

The pegmatite intersected in the trench contained spodumene crystals along its
exposed length and five chip samples across the width of the dike were
collected at 1m intervals (see Images 1 & 2). Assays from these samples;
AES62943 to AES62947 are shown in Table 1 and the detailed sample location
data from the trench is shown (see Image 2). The spodumene pegmatite dike
comprises of the coarsely bladed white lithium mineral spodumene (see Image 3)
along with variable amounts of quartz and feldspar.  Three grab samples;
AES62948 to AES62950 were also collected from large blocks of spodumene
pegmatite lying immediately above the actual bedrock in the trench (see Image
4). A series of soil profile samples were also collected from along the length
of the trench and over the exposed spodumene pegmatite. The results from these
samples are pending and will provide valuable information on lithium
dispersion within different parts of the overburden profile going forward.

 

All samples were analysed and reported by ALS Laboratories in Ireland. Work on
this small footprint of field area was undertaken in close association with
the landowner and the Company will rehabilitate the trenched area back to the
original field condition on completion.

 

The trenching has assisted greatly in the interpretation of the spodumene
bearing pegmatite dikes encountered in the 2023 summer drilling programme. The
dikes both in the trench and the drilling dip north westwards at approximately
40 degrees. This trench pegmatite is interpreted to be the same pegmatite
intersected at 30m depth in drill hole 23-1597-02 and at 60m depth in drill
hole 23-1597-03.  This gives a total down dip extension of at least 100m from
surface. This dike is just one of the spodumene bearing dikes intersected in
the drilling which form a broadly NE-SW trending dike swarm of up to seven
dikes in 24 separate intercepts in nine diamond cored drill holes
(https://gbml.ca/news-releases/global-battery-metals-announces-initial-knockeen-dike-swarm-assay-results-from-leinster-lithium-project-ireland/)
.

 

 

 

Image 1: Knockeen Lithium Pegmatite Shallow Trench

Pictured is a cross-cut intersection (facing north) of the lithium pegmatite
dike

 

 

 

 

 

Image 2: Knockeen Lithium Pegmatite Shallow Trench

Chip sampling and assay results.

 

 

 

Image 3: Knockeen Lithium Pegmatite Shallow Trench

High grade spodumene pegmatite crystals within sample AES62945 (2.55% Li(2)O).

 

 

Image 4: Knockeen Lithium Pegmatite Shallow Trench

The spodumene pegmatite boulder unearthed from the shallow trench at Knockeen

that yielded a 3.00% Li(2)O sample AES62949.

 

 

 

 

 

 

Image 5: Knockeen Lithium Pegmatite Shallow Trench (Detail)

Location of historical trench and recent drilling.

 

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 centred 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 cross-cut 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 525km² situated along strike to nearby Blackstairs Lithium's
Avalonia Project (297km² joint venture between Ganfeng Lithium Co. Ltd. and
International Lithium Corp.). All of the 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, Technology Minerals and GBML
have 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 of the holes drilled so far is considered a major technical
success for the Technology Minerals and GBML. Prior surface exploration
activities identified and confirmed expansive surface boulder trains of
lithium pegmatite lithologies in a number of areas across the property, with
recent assay results of 66 rock samples analysed 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 lithium.

 

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 of the relevant legislation. Technology Minerals
and GMBL are pleased to confirm that it adheres 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. TM1s 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 Technology Minerals and, a "qualified
person" within the meaning of National Instrument 43-101.

 

Quality Assurance/Quality Control

 

Quality Assurance/Quality Control ("QA/QC") of drill core samples and
associated assay results are monitored by GBML and Technology Minerals through
a 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 metres 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, Rebecca Scott     +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
(https://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 trenching programme, results therefrom, and the
timing of such results. 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.

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