TIDMTM1
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 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 Li ppm Li2O%
- 1m Intervals
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 Li ppm Li2O%
Boulders
------------------------- ------- ------
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 .
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 525km(2) situated along strike
to nearby Blackstairs Lithium's Avalonia Project (297km(2) 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
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
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 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
.
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 . 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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DRLFFMFEEEDSEIE
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