Green Technology Metals Ltd (ASX:GT1, OTC:GTMLF) has delivered a 25% increase in lithium mineral resource to 10.1 million tonnes at 1.29% lithium at its Root Bay Lithium Project in Canada.
Root Bay is now the largest GT1 deposit with 93% of the resource in the higher confidence indicated JORC category.
Notably, this significant resource upgrade has uplifted the company’s global resource inventory in Ontario to 24.5 million tonnes at 1.14% lithium.
Furthermore, there exists potential for further mineral resource growth along trend at Root Bay, including the recent deep extensions and across the larger 20-kilometre wide Root Lithium project area.
Combined Lithium Mineral Resources - 0.2% Li2O cut-off.
Higher confidence
GTI chief executive officer Luke Cox said: “We are pleased with the recent 25% increase in the mineral resource estimate (MRE) at the Root Bay deposit, especially within the higher confidence, indicated category.
“This significant update has propelled Root Bay to become the largest GT1 deposit and still hosts significant down dip extensions that haven’t been included in this update.
“This accomplishment underscores the substantial growth and potential that our projects hold.
“We still have a lot of ground to cover and with time, we will continue increasing our resource base with extensive exploration programs across our highly prospective projects with our primary focus currently on the down dip, eastern and western sides of Root Bay, where we anticipate further exciting developments.”
$GT1 Green Technology Metals delivers thick, high-grade pegmatites from Root Bay Lithium Project in Canada https://t.co/08sCKBvfBW @green_metals #GT1 #ASX #ASXNews
— Proactive Australia (@proactive_au) October 11, 2023
MRE summary
The latest update to the MRE for our Root Bay Lithium project now totals an impressive 10.1 million tonnes with a grade of 1.29% lithium
This elevates the overall resource for the Root project, situated in our western hub, to 14.6 million tonnes at 1.21% lithium, encompassing 4.5 million tonnes at a Li2O grade of 1.01% from the McCombe deposit.
The updated MRE from the Root Bay deposit includes all results from drilling that kicked off on 23 February 2023, comprising 158 holes for 31,383.8 metres.
The drilling revealed multiple shallow-dipping LCT pegmatite systems, with thicknesses of up to 18 meters, and exceptional lithium grades of up to 1.81% Li2O over that downhole thickness.
Further potential
GT1 are currently conducting extensional drilling focused on the areas 1.5 kilometres east and 1.7-kilometres west along the trend from the current Root Bay deposit where the recent field season led to the discovery of new LCT pegmatites.
The trend remains open and highly prospective and can be clearly traced over the entire length of GT1’s tenement through the highly magnetic BIF unit that runs along the northern boundary of the Root Bay deposit.
There is potential for further mineral resource growth along trend at Root Bay, including the recent deep extensions and across the larger 20-kilometre wide Root Lithium project area.
Two drill rigs are actively testing extensions to the east and west of the Root Bay deposit along a 3-kilometer extent entailing a 46 hole, 8,440-metre drill campaign