Green Technology Metals Limited (ASX: GT1) (Green Technology, GT1 or the Company) is pleased to announce that assay results have been returned for the first drill hole of the Phase 1 diamond drilling at the North Aubry deposit within its Seymour Project in Ontario, Canada.
The first hole completed, GTDD-21-0004, was targeting downdip extensions beyond an historical intercept and has returned a thick and continuous intercept of 40m @ 1.54% Li2O, confirming GT1's geological modelling and drill targeting.
This result represents an excellent start to the Phase 1 drilling program and delivers immediate potential for growth in the existing Seymour Mineral Resource estimate of 4.8 Mt @ 1.25% Li2O. The Phase 1 program at Seymour, consisting of a planned 11 holes for approximately 3,500m, is designed to evaluate potential along-strike and down-dip extensions of the North Aubry deposit that are currently open and untested.
The Phase 1 drilling is seeking to aggressively expand the existing Seymour Mineral Resource estimate, with the program expected to be completed during March 2022. Drilling at Seymour has now recommenced for 2022 with the second drill hole of the Phase 1 program in progress. A second diamond drill rig has also arrived onsite and is expected to enter operation in the next week, delivering accelerated dual-cycled drilling progress.
'The results returned from our maiden hole at Seymour represent an excellent start to the Phase 1 diamond program. This first hole was located on the north-east extremity of the currently delineated mineralised envelope at Seymour. By intersecting 40 metres thick lithium bearing pegmatite in this area, at such a good grade, the result presents strong evidence of the latent high-grade extensional potential of the North Aubry, and broader Seymour, system. Such sustained thickness down-dip also significantly enhances the potential mining economics at Seymour.'
Contact:
Tel: +61 8 6557 6825
Email: luke@greentm.com.au
Green Technology Metals (ASX:GT1)
Green Technology Metals is a North American focussed lithium exploration and development business. The Company's Ontario Lithium Projects comprise three high-grade, hard-rock spodumene assets (Seymour, Root and Wisa) covering 95km2 of highly prospective tenure north-west of Thunder Bay in Ontario, Canada. All sites are proximate to excellent existing infrastructure (including hydro power generation and transmission facilities), readily accessible by road, and with nearby rail delivering transport optionality. Seymour has an existing Mineral Resource estimate of 4.8 Mt @ 1.25% Li2O (comprised of 2.1 Mt at 1.29% Li2O Indicated and 2.7 Mt at 1.24% Li2O Inferred). Accelerated, targeted exploration across all three projects delivers outstanding potential to grow resources rapidly and substantially.
The information in this release that relates to Exploration Results, Mineral Resources and Exploration Targets for the Ontario Lithium Projects was released in the Company's prospectus. The Company confirms that it is not aware of any new information or data that materially affects the information in that release and that the material assumptions and technical parameters underpinning these estimates continue to apply and have not materially changed. The Exploration Target potential quantities and grades are conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target is not being reported as part of any Mineral Resource. The Company currently holds a 51% interest in the Projects under a joint venture with Ardiden Limited (ASX: 'ADV'). GT1 can acquire 80% interest in the Projects for the following consideration: A$3.5 million cash and/or GT1 shares, 12-months post ASX listing. Please refer to the Company's Prospectus dated 16 September 2021 for further details.
Forward Looking Statements
Certain information in this document refers to the intentions of Green Technology Metals Limited (ASX: GT1), however these are not intended to be forecasts, forward looking statements or statements about the future matters for the purposes of the Corporations Act or any other applicable law. Statements regarding plans with respect to GT1's projects are forward looking statements and can generally be identified by the use of words such as 'project', 'foresee', 'plan', 'expect', 'aim', 'intend', 'anticipate', 'believe', 'estimate', 'may', 'should', 'will' or similar expressions. There can be no assurance that the GT1's plans for its projects will proceed as expected and there can be no assurance of future events which are subject to risk, uncertainties and other actions that may cause GT1's actual results, performance or achievements to differ from those referred to in this document. While the information contained in this document has been prepared in good faith, there can be given no assurance or guarantee that the occurrence of these events referred to in the document will occur as contemplated. Accordingly, to the maximum extent permitted by law, GT1 and any of its affiliates and their directors, officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement and do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement and disclaim all responsibility and liability for these forward-looking statements.
GREEN TECHNOLOGY METALS LIMITED 
