GreenTech Metals (ASX:GRE) has identified multiple new targets at the Ruth Well and Osborne joint venture (JV) projects in Western Australia.
The $26.87 million market capitalisation company conducted reconnaissance outcrop mapping, which returned ‘excellent’ lithium grades of up to 3.6% lithium oxide (Li2O) in the southern lithium-caesium-tantalum (LCT) trend.
A review of historic soil geochemical data and the results to date of geological mapping has confirmed the northern and southern LCT pegmatite trends, whilst ‘significantly’ expanding the extent of lithium mineralisation in the project areas.
Further, pegmatite swarms identified from geological mapping to data are coincident with ‘significant’ lithium soil anomalies. The pegmatite swarms are also coincident with lithium soil anomalies uncovered from the review of historic datasets and are open where the trends extend under cover.
Mapping and rock chip sampling is continuing in both project areas, where it is partially completed to date.
Commenting on this recent discovery, GreenTech Metals Executive Director Thomas Reddicliffe says: “Our technical team is continuing to systematically unlock the potential of our West Pilbara lithium footprint. This latest work has confirmed the northern and southern LCT pegmatite trends, whilst also demonstrating the strong likelihood for additional discoveries to be hosted within the respective project area.
Extensive historic soil sampling complements the rock chip sampling completed to date which has yielded consistently high lithium grades and gives us significant confidence as we move quickly towards our maiden drilling program.
GreenTech continues to solidify its position as a significant player in the rapidly emerging West Pilbara lithium province and we look forward to providing further positive updates on our progress over the coming weeks.”
The company notes rock chip sampling taken to date have been dispatched to the ALS Global laboratory in Perth for analysis. These results will be reported once the analytical results have been received.
GreenTech is also preparing regulatory requirements to enable the undertaking of a maiden drilling program. The company has submitted and had approved multiple Programs of Work (PoW), which will facilitate the start of drilling once heritage clearances are completed.
GreenTech Metals is an explorer and developer, focused on minerals and metals that are used in the battery storage and electric vehicle sectors.
As of 30 June 2023, the company had $2 million cash at hand, and the company raised an additional $2.1 million post quarter through a placement, according to its quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: GreenTech Metals
