TIDMTM1
Technology Minerals PLC
17 October 2023
17 October 2023
Technology Minerals Plc
("Technology Minerals" or the "Company")
Completion of Detailed Remote Sensing and Structural Study of
Knockeen Dike Swarm and Leinster Lithium Project Area
Study Identifies 2nd Major Shear Zone and 25 Additional
Exploration Targets as Company Confirms Set of Eight Initial Drill
Hole Assays to be Reported
Technology Minerals Plc (LSE: TM1), the first listed UK company
focused on creating a sustainable circular economy for battery
metals, is pleased to announce that Global Battery Metals Ltd
("GBML"), (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ) has provided
an update regarding the completion of a structural remote sensing
study of the Leinster Lithium District, with 25 new exploration
targets identified by local structural geology expert, Dr. Francis
Murphy of Murphy Geological Services ("MGS").
A first-of-its-kind study for this region, Technology Minerals
and GBML believe this study - in association with the ongoing
development of a 3D model for the geometry of the dike swarm and
associated structures being drilled at Knockeen PLA 1597 (PLA 1597)
will help guide additional near-term vein identification and
drilling efforts, while supporting further project-wide lithium
exploration and target generation.
PLA 1597 is progressing under an ongoing and successful option
agreement between GBML and Technology Minerals which is being
operated by GBML.
Key Highlights:
-- Drilling continuing as per plan at the
Lithium-Cesium-Tantalum (LCT) pegmatite dike swarm at Knockeen
Prospect with drill holes 1-8 completed for a total of 1,597m with
assays pending and drill hole 9 currently in progress.
-- Comprehensive regional structural synthesis has now been
completed for the whole of the Leinster pegmatite belt with
detailed focus on the northern and southern block of licences.
-- Structural controls and the spatial location of the key East
Carlow Deformation Zone (ECDZ) and associated splay structures have
now been identified and shown to cross several key parts of the
northern and southern block of licences.
-- Accurate definition of key structural corridors through the
five main target areas at Aghavannagh, Scurlocks, Sorrell,
Knocknaboley and Tonygarrow now confirms the genetic association of
these structures with the mineralisation discovered to date, as
well as extends the corridors for further exploration
targeting.
-- A major NE-SW trending regional splay of the ECDZ, termed the
North Wexford Deformation Zone (NWDZ) which has been historically
mapped in the area, has now been confirmed and demarcated across
areas of PLA 1597.
-- In total, 25 distinct follow-up structural targets have been
identified, including four additional targets on PLA 1597 and 21
new targets on the northern licence block all based on the holistic
geological, structural, geophysical and geochemical studies. These
areas will be prioritised over the coming months.
Remote Sensing Structural Study
GBML defined a 6,000 km(2) study area covering the northern and
southern license blocks, including the Knockeen Prospect lithium
drill programme area. Structural analysis work included utilising
Sentinel-2 satellite imagery which provides a substantial
resolution increase that more than doubles that of other
satellites. This work was combined with other GIS datasets
including the Geological Survey of Ireland (GSI) Tellus
Aeromagnetic data; detailed GSI bedrock mapping data, historical
regional GSI geochemistry as well as in-house company GBML-LRH
prospecting and lithogeochemistry data.
The results of the combined study have confirmed key structural
features across the Leinster Massif which are interpreted to be
associated with mineralising fluid flow key to the anatectic model
for the localisation and emplacement of the lithium bearing
pegmatites. The primary East Carlow Deformation Zone (ECDZ) is
shown to transect several of the northern block licenses and in
particular the Tonygarrow and Aghavannagh targets. Interpreted
splays from this structure pass across several other licenses and
in particular through the Scurlocks, Sorrell and Knocknaboley
target areas. The work has also provided extensions of all of these
structural corridors which can now become part of a focused ground
exploration programme.
On the southern block a historic, partially mapped structural
feature passing along PLA 1597 has now been confirmed through this
study. It can now be interpreted as a significant structural splay
off the primary East Carlow Deformation Zone and passes south of
the Blackstairs Granite Pluton. This feature has been termed the
North Wexford Deformation Zone (NWDZ) and provides a second highly
prospective trend for the focus for ground exploration activities.
Several target areas have already been identified for detailed
prospecting and mapping.
Knockeen Drilling Programme
To date, eight drill holes have been completed (DDH-23-1597-01 -
DDH-23-1597-08) for a total of 1,761m, with a ninth drill hole (DDH
23-1597-09) currently in progress (estimated final depth of 250m).
Multiple phases of pegmatite and importantly the lithium bearing
spodumene pegmatites have been intersected in all of the holes so
far. Logging and sampling of the holes is in progress with some of
the sampled intervals currently at the laboratory with others still
being processed. All of the data and results of the initial eight
drill holes will be synthesised and reported together, allowing for
a full, proper and considered interpretation of the intersections
and providing for a more holistic view of the dike swarm's
geometry.
Detailed structural data is being collected from the drill core
by using state of the art Reflex EZ-Trac Single Shot down-hole core
orientation tool on the drill rig. Once back at the core logging
facilities, the orientated core from the drill rig is then logged
for its structural components with an IMDEX STRUCTURAL-IQ(TM)
Solution tool as part of the core logging process. This approach
means that the pegmatites and their exact orientations can be
positioned with all of the other structural components relating to
the emplacement of the pegmatite dike swarm. So far, over 5,000
structural elements have been recorded to be imported into
Seequents's 3D modelling software package, LeapFrog. This will help
to better visualise the detailed structural regime and kinematics
of the pegmatite dikes in the area being drilled, as well as the
geometry of the various phases of pegmatites. Petrographic analysis
of samples of lithologies, mineralisation and alteration from
within the drill core is also in progress to help interpret the
metallogenetic development of the mineralizing system.
Alex Stanbury, CEO of Technology Minerals said: "We are pleased
to report promising outcomes from our collaborative Leinster
exploration project with GBML. The insights acquired through this
study will help to advance the project and increase our
understanding of the full lithium potential at the site, while also
shedding light on additional exploration opportunities within the
region."
"GBML will continue to utilize impact players and proven
industry experts that can maximize shareholder interests and
dramatically increase the potential for mineralized zone
discovery," said Michael Murphy, CEO of Global Battery Metals. "The
structural analysis included in this report will help us to not
only understand and advance our big-picture lithium district
potential, but also highlight more immediate opportunity spots of
interest. Top-notch structural interpretation is key to unlocking
long-term target development and drilling success. I'm also pleased
to report that the team is opting to release initial assay results
from our first eight holes to date, pending completion of lab
analysis. We now have a much stronger picture of the dike swarm and
lithium mineralization potential."
Field work will be planned to develop and enhance the structural
models including ground verification of the geometry and kinematics
of the major and second order faults and shears identified from the
satellite imaging. This will tie in with the structural work being
completed on the drill core at Knockeen.
About the Leinster Lithium Project
Located south of Dublin in the counties of Wicklow and South
Carlow, the Leinster Lithium Project consists of 16 prospecting
license areas covering approximately 525 km(2) situated along
strike to the joint Ganfeng Lithium / International Lithium
Corporation Blackstairs Lithium Project. The ongoing drill
programme at Knockeen has been approved under the government's
detailed "appropriate assessment screening" process for up to 10
drill holes for a total of approximately 2,000m.
With initial drilling underway, Technology Minerals and GBML has
succeeded in intersecting multiple dikes within the host granites
to reveal a structurally controlled LCT pegmatite system, which
importantly includes the lithium mineral spodumene within the
pegmatites. The drill cores continue to be logged, sampled and
dispatched for analysis at ALS Laboratories and pending results
reporting. No drilling has ever been carried out at the Knockeen
Prospect previously, and intersecting potential lithium bearing
pegmatites in all of the holes drilled so far is considered a major
technical success for the Company. Prior surface exploration
activities identified and confirmed expansive surface boulder
trains of lithium pegmatite lithologies in a number of areas across
the property, with recent assay results of 66 rock samples analysed
by ALS Laboratories earlier this year returning Li2O% lithium
contents ranging up to 3.75 % Li2O / 17,410 ppm Li.
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.
GMBL 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 which
was reviewed, approved and signed off by the appropriate oversight
authorities. GBML's Directors understand that social license is key
to unlocking positive exploration outcomes by following low impact
/ low sound / low disturbance exploration program best practice for
environmental sensitivity.
Competent Person
All scientific and technical information in this announcement
has been prepared under the supervision of and reviewed and
approved by EurGeol 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.
Quality Assurance/Quality Control
Quality Assurance/Quality Control of drill core samples and
associated assay results are monitored by GBML through a quality
assurance/quality control ("QA/QC") protocol which includes the
insertion of blind standard reference materials, blanks, and
duplicates at regular intervals. Core is drilled in HQ core
diameter and each 3 metres of core recovered is orientated by the
drilling contractor on completion of each run drilled. Drill core
is laid out in strong core boxes and transported by Company
geologists from the drill rig to GBML's secure logging facility.
Drill core is then logged using an established logging procedure
capturing detailed lithological data as well as measuring all
structural elements using a Reflex IQ Logger for accurate
orientation of all contacts and structures. The core is marked up
for sampling and sawn on site using a diamond core saw. Half core
samples are then bagged and secured using plastic cable ties and
the samples are then securely transported to ALS Laboratory ("ALS")
facilities in County Galway, Republic of Ireland. Samples are
analysed for lithium as well as multi- elemental trace elements
using the specific LCT pegmatite analytical suite ME-MS89L offered
by ALS. ALS also performs its own internal QA/QC procedures to
assure the accuracy and integrity of results. GBML is unaware of
any drilling, sampling, recovery, or other factors that could
materially affect the accuracy or reliability of the data referred
to herein.
Enquiries
Technology Minerals Plc
Robin Brundle, Executive Chairman
Alexander Stanbury, Chief Executive
Officer +44 20 4582 3500
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Oberon Investments Limited
--------------------
Nick Lovering, Adam Pollock +44 (0)20 3179 0535
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Gracechurch Group
--------------------
Harry Chathli, Alexis Gore, Rebecca
Scott +44 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. With the
increasing global demand for battery metals to supply
electrification, the group will explore and recycle metals from
spent batteries. Further information on Technology Minerals is
available at www.technologyminerals.co.uk
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 to
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 and results
therefrom. 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 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 for a more complete
discussion of such risk factors and their potential effects,
publicly available at SEDAR+, the Canadian Securities
Administrators' national system that all market participants use
for filings and disclosure, at www.sedarplus.ca. 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.
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NRABIBDGDUBDGXL
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October 17, 2023 02:00 ET (06:00 GMT)
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