TIDMTM1
Technology Minerals PLC
15 November 2023
15 November 2023
Technology Minerals Plc
("Technology Minerals" or the "Company")
Initial Knockeen Dike Swarm Assay Results Received from 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 that Global Battery Metals Ltd
("GBML"), (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ) has completed
the inaugural first phase of drilling on its Knockeen Lithium
Pegmatite Project in SE County Carlow, Ireland.
Focussing on a Lithium-Caesium-Tantalum (LCT) pegmatite dike
swarm, the first nine holes were completed in late October for a
total of 2,022m. All nine holes successfully intersected lithium
bearing Lithium LCT Pegmatites. Samples were submitted to ALS
Laboratories in County Galway and analysed using the specific
ME-MS89L Lithium Pegmatite analytical suite which are now reported.
The project is progressing under an ongoing and successful option
agreement between GBML and Technology Minerals which is being
operated by GBML.
Key Highlights:
-- Drilling has confirmed and further defined a swarm of
pegmatite dikes within host granites to reveal a new, structurally
controlled LCT pegmatite system of significance;
-- 24 intervals of lithium bearing spodumene pegmatites were
intersected across the nine holes drilled and show that the
pegmatites are all broadly parallel with a strike of NE-SW;
-- 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 in Intercept 15 in Hole 23-1597-06;
-- Values grading over 1% Li(2) O were recorded in five of the
nine holes drilled (Hole 23-1597-01, Hole 23-1597-02, Hole
23-1597-06, Hole 23-1597-07 and Hole 23-1597-09) with a sixth hole
(Hole 23-1597-03) just shy of the 1% mark reporting a 0.96% Li(2) O
intersect; and
-- The project area is situated within the same tectonic zone
and along strike to Blackstairs Lithium (Ganfeng / ILC joint
venture) Avalonia Project.
Alex Stanbury, CEO of Technology Minerals said : "We are pleased
to announce the successful confirmation of lithium mineralisation
at Knockeen following the inaugural phase of exploration drilling.
This milestone underscores our commitment, from the initial stages
of surface mapping and sampling, towards realising the full
potential of Leinster. Moving forward, we eagerly anticipate
advancing the project in collaboration with our partners GBML."
Michael Murphy, CEO of Global Battery Metals , underscored the
importance of these initial assays, stating: "Until now, Knockeen
has been defined by surface mapping and sampling, along with its
strategic location within the East Carlow Deformation Zone and
close proximity to Ganfeng and ILC's exploration activity. Our
expressed goal to confirm lithium mineralization in our first round
of exploration drilling has been achieved, and hitting consistent,
near-surface lithium intersects in a brand-new area has the entire
team very excited. We've done our homework, including years of
geological data collection and hands-on exploration to assess
Leinster's lithium potential, and we're taking additional cues and
clues from our first round drilling to further evolve our
exploration strategy. In this case, we plan to make calculated,
district scale moves. We've drilled into fingertips and intend to
follow these fingers to a wider body."
Assay Results Interpretations and Next Steps
The drilling program defined a swarm of pegmatite dikes across
the Knockeen zone with all holes (23- 1597-01 to 09) intersecting
lithium bearing spodumene pegmatites, seven of which reported
multiple intersections. The drill holes were focused in three areas
north-east (holes 1-4), central (holes 5-6) and south-west (holes
7-9). The drilled extension of the pegmatite dyke swarm is 500m on
strike and extends about 200m vertically. The target area is still
open in all directions and also at depth and these aspects will be
the focus for the next stage of exploration activities.
Initial interpretation of the pegmatite dike intercepts show
that the pegmatites are all broadly parallel with a strike of NE-SW
with some minor degrees of inflection across the drilled strike
length. The pegmatites are all dipping to the north west with
slightly variable dips of between 35-50 degrees. The spodumene
pegmatites range in width between 0.10m up to 0.63m (true width)
with the best individual sample interval grading up to 2.57% Li(2)
O in Pegmatite 15 (Sample AES65298) in Hole 23-1597-06.
Figure 1: Knockeen Drilling 2023 drill collar locations
This first phase of Knockeen drilling has been key in setting
the scene to establish the geometry and nature of the pegmatites in
an entirely new area where there is no surface outcrop, no
historical drilling and a single short historical trench. The
placing of the target area within the bounds of the interpreted
East Carlow Deformation Zone is a key factor in developing the
prospect further. Detailed structural and petrological studies will
now commence at both the regional and drill core scale to interpret
the structural regime of emplacement of the spodumene pegmatites
and to determine the geometric model to guide the next phase of
drilling. This work has already commenced with the creation of a 3D
exploration model in Leapfrog utilising the several thousands of
structural readings collected from the orientated drill core.
Technology Minerals and GBML also intend to invite additional
industry experts in the field of LCT pegmatites and structural
geology interpretation to view the drill core at its core shed to
help place all of the information collected to date in a detailed
structural and lithological framework of the SE Leinster Massif.
This will help develop strategies for further exploration work on
both this license as well as the rest of the Technology Minerals
and GBML's license holdings.
Sampling and Chain of Custody
All holes were drilled by diamond coring at HQ drill core size
(63.5mm diameter). The drill core retrieved from the core barrel
was continuously measured for exact orientation by the driller
using a Reflex EZ-Trac Single Shot down-hole core orientation tool
on the drill rig. Once back at the core shed detailed structural
measurements could then be measured in the drill core with an IMDEX
STRUCTURAL-IQ(TM) Solution tool as part of the core logging
process. This approach means that the pegmatites and their exact
orientations can be positioned with all of the other structural
components relating to the emplacement of the pegmatite dike
swarm.
Logging and sampling of the holes took place at the GBML's core
shed and all samples were run through a tightly controlled chain of
custody and rigid QA/QC sampling process which included regular
insertion of certified reference materials including standards,
blanks and sample duplicates. All samples were submitted to ALS
Laboratories in County Galway and analysed using the specific
ME-MS89L Lithium Pegmatite analytical suite offered by the
laboratory.
Table 1: Table of results for pegmatite intervals intersected in
the drilling
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 km(2) situated along
strike to nearby Blackstairs Lithium's Avalonia Project (297 km(2)
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, 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 Technology
Minerals and GBML. Prior surface exploration activities by the
project team 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 earlier this year returning Li(2) O% lithium
contents ranging up to 3.75% Li(2) O / 17,410 ppm lithium.
Image 1: Spodumene pegmatite in drill core DDH 23-1597-01
(PEG-01[part of]; 34.59-34.94. Sample AES65107 reporting
intercept
apparent thickness of 0.36m True thickness 0.05m @ 2.95% Li 2
O)
Image 2: Spodumene pegmatite in drill core DDH 23-1597-02
(PEG-04; 31.46-31.85. Sample AES65136 reporting 0.39m @ 1.59% Li
2 O)
Image 3: Spodumene pegmatite in drill core DDH 23-1597-09
(PEG-22; 65.73-66.14m. Sample AES62536 reporting 0.36m @ 1.18%
Li 2 O)
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 GBML is 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. TM1's Directors understand that social license is key
to unlocking positive exploration outcomes by following low impact
/ low sound / low disturbance exploration program best practice for
environmental sensitivity.
Image 4: Drill site 23-21597-07
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 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
Alexander Stanbury, Chief Executive
Officer +44 20 4582 3500
--------------------
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
extracting raw materials required for Li-ion batteries, whilst
solving the ecological issue of spent Li-ion batteries, by
recycling them for re-use by battery manufacturers. With the
increasing global demand for battery metals to supply
electrification, the group will explore and recycle metals from
spent batteries. Further information on Technology Minerals is
available at 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. 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 or visit 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.
END
NRANKPBPPBDDDDD
(END) Dow Jones Newswires
November 15, 2023 10:55 ET (15:55 GMT)
Technology Minerals (LSE:TM1)
Historical Stock Chart
From Apr 2024 to May 2024
Technology Minerals (LSE:TM1)
Historical Stock Chart
From May 2023 to May 2024
