Green Technology Metals Ltd (ASX:GT1, OTC:GTMLF) has identified a new pegmatite discovery dubbed the “north upper zone” at the Eastern Hub Aubury Deposit of the Seymour Lithium Project in Ontario, Canada, in an extensional diamond drilling program.
The pegmatite zone sits close to surface, averaging grades of over 1.2% and about 2.6 to 6.4 metres thick.
Two shallow holes confirmed continuity of mineralisation in this area, supporting its potential inclusion in a future mineral resource update.
The company has also initiated a 6,900-metre diamond drilling program at the Junior Lithium Project, 20 kilometres to the east of Seymour.
Pioneering lithium production in Ontario
“Our core strategy is to become the first producer of spodumene concentrate and lithium hydroxide in Ontario,” Green Technology managing director Cameron Henry said.
“We are well-positioned to take full advantage of the next lithium cycle, driven by North America's strong commitment to developing its own lithium supply chain.
“GT1 is one of the leading lithium explorers in Ontario, with several key advantages, including a highly experienced management team, skilled in the design and development of concentrators and conversion facilities and asset locations in close proximity to Thunder Bay allowing an integrated lithium production business.
“We are backed by multiple strategic partners who have a positive long-term outlook for lithium demand specifically in North America.
“Although the recent drilling at Seymour did not meet expectations at depth, it was crucial for enhancing our understanding of the deposit and advancing the project.
“We have identified multiple other drill targets in the project area, which will be tested once the Junior program concludes.”
At depth, GT1’s drilling encountered thinner-than-expected pegmatite intercepts at the new north upper zone, with lithium grades also lower than anticipated.
The company is confident Seymour will continue to offer drilling targets as exploration continues, with the Aubry deposit and several targets of interest remaining untested.
Future drilling will focus on high-priority targets near Aubry, expanding outward to lower-priority targets.
Definitive feasibility study scheduled for 2025
“In parallel, we are making strong progress on the Seymour definitive feasibility study (DFS), with several workstreams progressing as planned for release next year,” Henry continued.
“Our financing strategy for the project has been strengthened with the appointment of Endeavour Financial, providing us with full access to their award-winning metals and mining team, recognised as a leading advisor in mine development finance with export credit agencies, government funds and commercial institutions.”
The Seymour DFS work streams include mine and pit optimisation, a geotechnical program, metallurgical test work, and plant and site optimisation.
GT1 is also working toward a mineral resource estimate (MRE) update using the latest infill drilling data and the 2024 lithium price environment.
Seymour’s MRE currently sits at 10.3 million tonnes at 1.03% lithium, with a combined total resource (including the Root Project’s MRE) of 24.9 million tonnes at 1.13% lithium for the company’s North American lithium assets.