Green Technology Metals Ltd (ASX:GT1) , aiming to be Ontario's first lithium concentrates and chemical producer, has provided an update on its integrated strategy for vertical supply chain development in Canada,
The company is advancing on its ambitious three-stage plan to be operational by 2025 with spodumene concentrate production at the Eastern Hub Seymour mine.
Subsequent stages will see lithium hydroxide production in Thunder Bay by 2028, followed by an expansion in Root Bay in 2029.
The company is also investing in exploratory drilling and baseline studies while ensuring close engagement with Indigenous communities.
In parallel to development activities, GT1 will continue to invest in exploration and high-impact drilling campaigns to grow the resource base and extend the mine life across both hubs.
“Initial production by 2025”
GT1 CEO Luke Cox said: "We're on a path to become Ontario's first lithium concentrates and chemical producer with our integrated strategy that involves a strategic staged development plan positioning us to achieve crucial milestones and prepare for initial production by 2025.
“Our team has undertaken an extensive amount of work over the past 12 months to evaluate to advance GT1's integrated supply chain strategy ready for the eagerly anticipated Integrated Preliminary Economic Assessment (PEA) set for release this quarter.
“The PEA will offer insights into project specifics and timelines, emphasising cost-effectiveness, infrastructure advantages, and growth opportunities, that we are confident will enhance shareholder and stakeholder value.
“Progress at the Seymour Lithium Project is steadily advancing and we are working towards a financial investment decision in 2024 to initiate development at Seymour in alignment with our integrated strategy.
“As we move forward, we are evaluating various financing options, including government funding, and have submitted an application for Strategic Innovation Fund (SIF) where $1.5 billion is allocated to critical minerals projects.
“Throughout this journey, we remain focused in our commitment to investing in exploration and development, all while engaging closely with Indigenous communities, an essential aspect of our progress forward."
Indicative timeline to production.
Strategy update
GT1 is presenting this strategic update in anticipation of the release of its first comprehensive technical and economic evaluation of the complete mine-to-chemical strategy in Western Ontario.
The company holds a substantial portfolio of lithium assets strategically located to supply the North American market.
It is highly focused on expediting the development of this portfolio to lead the market in Ontario and build a competitive vertically integrated lithium business.
GT1 will be e releasing a vertically integrated preliminary economic assessment (Scoping Study or PEA) in the December quarter incorporating a staged east-west mine and concentrator development strategy that will feed into a conversion facility strategically positioned in the port and industrial town of Thunder Bay, Western Ontario.
Stage 1: Easter Hub Mine and concentrator
The Eastern Hub remains on schedule, with plans to commence site preparation works in early 2024 and commencement of construction in the latter half of 2024, pending necessary approvals.
In parallel to the preliminary economic study (PEA) the company is advancing the project through to the DFS level with a final investment decision to be delivered in the September quarter.
Stage 2: lithium hydroxide conversion facility
GT1 has taken significant steps in its integration strategy within the North American lithium supply chain.
The company has diligently conducted a thorough regional assessment to identify prospective sites for a conversion facility, evaluating more than 56 potential sites in Northwest Ontario, with a strong focus on brownfields located in heavy industrial-zoned areas.
Stage 3: Western hub mine and concentrator
The Western Hub, slated for operation in 2029, will serve as additional feed for the lithium hydroxide facility.
The company has initiated preparatory work for permitting the Western Hub mine and concentrator. This includes conducting baseline and technical Studies, engaging in indigenous consultation, undertaking engineering tasks, defining the project, refining resource definition and engaging in pre-submission consultation with government agencies.
Consulting partners Primero, Nordmin, and Englobe are actively developing conceptual site layouts to facilitate a geotechnical testing program in support of the PEA (Preliminary Economic Assessment) and PFS (Preliminary Feasibility Study) for the Western Hub Concentrator.
Integrated company strategy
Forward plan
An extensive regional field exploration program, nearing completion after five months, was initiated to identify new drill targets within our highly prospective projects, which have seen limited historical exploration.
The exploration team will assess and prioritise these projects for drilling or further exploration over the upcoming years to align with the development activities at our two primary projects, Root and Seymour to ensure a strategic and systematic expansion of our resources.
GT1’s immediate priority is securing additional feed for the Eastern Hub.
The company recently acquired Junior Lake, given its strategic proximity to Seymour in the Eastern Hub.
Junior hosts several LCT pegmatites within three established target areas—Despard, Swole Lake, and Tape Lake—all presenting drill-ready targets and exhibiting geological similarities to other advanced GT1 projects, based on the lithium exploration undertaken to date.