Green Technology Metals Ltd (ASX:GT1, OTC:GTMLF) has begun the hunt for more lithium at the Seymour Lithium Project in Ontario, Canada, with diamond drilling designed to test for extensional mineralisation that could contribute to underground resource expansion.
The company will undertake 3,000 metres over a 5-hole program, testing for lithium down-dip from the North Aubry resource with the goals of extending the project's mine life and enhancing economics.
Initial optimisation work has already been completed, including the integration of open put and underground mining for lower cost and capital expenditure and greater flexibility in the overall project strategy.
Enhancing project potential
“Based on feedback from Canadian operators and our ongoing efforts to optimise project capex and operational costs, we are evaluating a combination of both open cut and underground development strategy,” Green Technology Metals executive director Cameron Henry said.
“Preliminary findings suggest that this approach will enhance the project's economics, extend the mine life and give greater development flexibility to incorporate additional feed from our potential new deposits.
“We have mobilised a drill rig to the project area and are optimistic about the results, as they have the potential to further increase the North Aubry resource and further prove the combined hybrid open pit/underground strategy.”
The company is evaluating three distinct approaches for various pit shell and underground designs:
- Option 1 - Two-stage open pit development with a small underground component;
- Option 2 - Three-stage open pit development with a small underground component; and,
- Option 3 - Single-stage open pit development with a large underground component.
GT1’s preliminary findings indicate all three options are technically viable and capable of supporting continuous operation of the concentrator with enhanced economics and a reduced operating footprint.
Once the current drill program is completed, Green Technology Metals will produce an updated mineral resource estimate incorporating the extension and infill drilling data, which will then feed into an optimised Preliminary Economic Assessment (PEA).