TIDMTM1
Technology Minerals PLC
07 June 2023
7 June 2023
Technology Minerals Plc
("Technology Minerals" or the "Company")
Update on Leinster Lithium drill campaign
Technology Minerals Plc (LSE: TM1), the first listed UK company
focused on creating a sustainable circular economy for battery
metals, is pleased to note that Global Battery Metals Ltd ("GBML")
(TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ) has today announced an
update on progress of the drilling campaign at Leinster Project in
Ireland. The Company's Leinster Property exploration block is
operated under an exclusive Option and Earn-in agreement with GBML,
with no project expenditure required by the Company.
The GBML release is copied below and a link to the announcement
can be found here:
https://gbml.ca/news-releases/global-battery-metals-provides-leinster-lithium-drill-program-update/
Global Battery Metals Provides Leinster Lithium Drill Program
Update
Company Confirms Multiple Pegmatite Drill Core Intercepts at its
Knockeen Prospect; Begins Shipping Samples to Lab
June 7, 2023, Vancouver, British Columbia - Global Battery
Metals Ltd. (the "Company" or "GBML" or "Global Battery Metals")
(TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), a critical mineral
exploration company focused on growth-oriented lithium and battery
metal projects, is pleased to provide an update on its inaugural
drilling campaign at the Leinster Lithium Project in Ireland.
Highlights:
-- Multiple, pegmatite intercepts have been intersected in initial drill holes (see Figure 1)
-- Surface geochemistry targets are being tested as part of
current drilling campaign and already providing strong
corroborative proof of concept to our geological interpretation
-- Successive holes will be targeting different parts of the
anomalous deep overburden geochemistry grid
-- Company has started to transport pegmatite core samples to ALS Laboratories for analysis
"So far, our initial drill holes have delivered very promising
pegmatite intercepts that have the on-site teams excited," said
Michael Murphy, CEO of Global Battery Metals. "While there's still
more work to accomplish, we are making good progress hitting
close-to-surface pegmatite intercepts and processing core for
analysis. We will continue to follow what we are finding, and
optimize our drill plans accordingly."
Exploration and Drilling Update
Phase 1 of the Leinster Drill Program ( see May 10, 2023 press
release ) is focusing efforts on the Knockeen Prospect
("Prospecting License Area 1597") and prospective lithium pegmatite
trend targets including up to six potential dikes that the Company
believes are located proximal to the historically reported trenched
bedrock occurrence. The Drill Program has been approved under the
governments appropriate assessment screening process for up to 10
drill holes. No drilling has ever been carried out at this prospect
previously and hitting bedrock pegmatites in the first hole drilled
is considered a major technical success for the company. The
project is being managed on the ground for the company by
exploration contracting company Aurum Exploration Limited.
As previously noted, significant sampling and mapping across the
Knockeen Prospect has been conducted, with the potential discovery
of up to six LCT pegmatite dikes (see March 20, 2023, press release
) and the most recent assay results of 66 rock samples released by
ALS Laboratories returning Li(2) O% lithium contents ranging up to
3.75 % Li(2) O / 17,410 ppm Li (see Figure 2 and January 18, 2023,
press release ).
Responsibility to the Environment
All mineral exploration activities in Ireland take place under
the auspices of the GSRO a Division within the Government
Department of the Environment, Communications & Climate Change.
Exploration is governed under the framework of both Irish and EU
legislation that has been implemented to ensure that the
environment is protected during exploratory work. Prospecting
licence holders must comply with all of the relevant legislation.
The Company is pleased to confirm that it adheres to the highest
standards of good practice in relation to its ongoing exploration
activities having completed a detailed GSRO "Appropriate
Assessment" process prior to commencement and which is reviewed,
approved and signed off by the appropriate oversight
authorities.
For additional program details, please see the Company's
Leinster Project Overview in addition to the latest version of the
Company's Investor Presentation available for download from the
GBML website ( www.gbml.ca ).
Competent Person
All scientific and technical information in this announcement
has been prepared under the supervision of and reviewed and
approved by EuroGeol Vaughan Williams M.Sc. P.Geo. (Principal of
Aurum Exploration Services currently providing exploration services
to GBML and to LRH Resources Limited (" LRH ")), a "qualified
person" within the meaning of National Instrument 43-101. Vaughan
Williams is also company secretary of LRH.
The Knockeen Prospect forms part of the Project exploration
block, which is operated under an exclusive option and earn-in
agreement with Technology Minerals Plc (LSE: TM1), the first listed
UK company focused on creating a sustainable circular economy for
battery metals, and its wholly owned subsidiary LRH.
About the Leinster Lithium Project
The Project, located in the counties of Wicklow and South
Carlow, in the Republic of Ireland, is a lithium pegmatite project
that consists of 16 prospecting license areas located SW of Dublin
and is adjacent to the Ganfeng Lithium / International Lithium
Corporation Blackstairs Lithium Project. Lithium mineralization has
been confirmed across all Project areas explored to date, with the
potential discovery of up to six LCT pegmatite dikes and assay
results of 66 rock samples released by ALS Laboratories returning
Li(2) O% lithium contents ranging up to 3.75 % Li(2) O / 17,410 ppm
Li at the Knockeen Prospect. The Project's maiden Drill Program,
now underway, is permitted for up to 10 drill holes.
About Global Battery Metals Ltd.
GBML is an international mineral exploration and development
company with a focus on lithium and other metals that comprise and
support the rapid evolution to battery power. GBML currently
maintains economic interests in four battery metal projects: (1) an
option to acquire up to a 90% in the drill-ready Leinster Lithium
Property in Ireland; (2) a 100% interest in the drill-ready Lithium
King Property in Utah; (3) an option to acquire up to a 100%
interest in the La Poile Lithium Project in Newfoundland; and (4) a
55% stake in Peru-based Lara Copper Property, which has over 10,000
metres of drilling. As previously disclosed, Minsur S.A., a
Peruvian mining company, entered into an option agreement with GBML
and Lara Exploration Ltd. to acquire the Lara copper property for
staged payments of USD$5.75 million. GBML will retain a 0.75% net
smelter royalty. GBML's common shares are listed on the TSX Venture
Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are
quoted on the OTC Markets (OTCQB: REZZF).
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
E: MM@gbml.ca
W: www.gbml.ca
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release contains certain "forward-looking information"
and "forward-looking statements" (collectively "forward-looking
statements") within the meaning of applicable securities
legislation. All statements, other than statements of historical
fact, included herein, without limitation, statements relating the
future operations and activities of the Company, are
forward-looking statements. Forward-looking statements are
frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential",
"possible", and similar expressions, or statements that events,
conditions, or results "will", "may", "could", or "should" occur or
be achieved. Forward-looking statements in this news release relate
to, among other things, the Company's exploration plans at the
Leinster Lithium Project, including the Drill Program. There can be
no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions, and projections on the date the statements
are made and are based upon a number of assumptions and estimates
that, while considered reasonable by the Company, are inherently
subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance, or
achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation, the ability to
complete proposed exploration work, the results of exploration,
continued availability of capital, and changes in general economic,
market and business conditions, and the receipt of any required
regulatory approvals. Readers should not place undue reliance on
the forward-looking statements and information contained in this
news release concerning these items. Readers are urged to refer to
the Company's reports, publicly available through the Canadian
Securities Administrators' System for Electronic Document Analysis
and Retrieval (SEDAR) at www.sedar.com for a more complete
discussion of such risk factors and their potential effects. The
Company does not assume any obligation to update the
forward-looking statements of beliefs, opinions,
projections, or other factors, should they change, except as
required by applicable securities laws.
- Ends -
Enquiries
Technology Minerals Plc
Robin Brundle, Executive Chairman c/o +44 (0)20 4582 3500
Alexander Stanbury, Chief Executive
Officer
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Oberon Investments Limited
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Nick Lovering, Adam Pollock +44 (0)20 3179 0535
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Gracechurch Group
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Harry Chathli, Alexis Gore, Rebecca
Scott +44 (0)20 4582 3500
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Technology Minerals Plc
Technology Minerals is developing the UK's first listed,
sustainable circular economy for battery metals, using cutting-edge
technology to recycle, recover, and re-use battery technologies for
a renewable energy future. Technology Minerals is focused on
extracting raw materials required for Li-ion batteries, whilst
solving the ecological issue of spent Li-ion batteries, by
recycling them for re-use by battery manufacturers. To meet the
increasing global demand for battery metals to supply
electrification, the group will explore, mine, and recycle metals
from spent batteries. Further information on Technology Minerals is
available at www.technologyminerals.co.uk
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END
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June 07, 2023 10:22 ET (14:22 GMT)
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