Green Technology Metals (ASX:GT1) has increased by 13% the higher confidence indicated category of the Mineral Resource Estimate (MRE) for its flagship Seymour Project in Ontario, Canada.
The MRE now sits at 10.3 million tonnes (Mt) @ 1.03% Li2O and, together with the company’s eastern and western hubs in Ontario, brings the combined global resource base to 24.9Mt @ 1.13% Li2O.
Green Technology Metals, which has a $117.36 million market capitalisation, reports the revised MRE encompasses both the North and South Aubry deposits, where the company has undertaken drilling activities for a total of 163 diamond holes, of which 47 were used to constrain the updated MRE.
The company notes a 58-hole diamond drilling program to further upgrade both North and South Aubry is currently ongoing, with 13 holes completed to date. Assays from these holes are currently pending.
Green Technology Metals also confirms there are further ‘significant’ growth opportunities at the Eastern Hub, with drilling planned at the ‘highly prospective’ and recently acquired Junior Lithium Project in Q1 2024.
Green Technology Metals Chief Executive Officer (CEO) Luke Cox says the company will seek to establish further enhancements to the resource while drilling continues across its portfolio.
The company is a North American-focused lithium explorer and developer with a suite of wholly owned projects sitting in Ontario, Canada comprising ‘high-grade’, hard-rock spodumene assets and lithium exploration claims within the Archean Greenstone tenure.
As of 30 September 2023, Green Technology Metals had $16.941 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Green Technology Metals