Green Technology Metals, an Australian exploration upstart, is boosting its storehouse of lithium resources in northwestern Ontario.
The company posted a first-time resource estimate for its Root Project, situated northeast of Sioux Lookout, and one of their two leading properties.
The maiden estimate for Root is 4.5 million tonnes at 1.01 per cent lithium oxide, along with 110 parts per million tantalum pentoxide, all in the inferred category. It stems from an almost 15,000-metre drilling program that the company kicked off on the property last August.
The estimate builds Green Tech's total base of lithium resources in the region to more than 14.4 million tonnes, when factoring in their more advanced Seymour Project, 200 kilometres to the east.
Seymour is considered the flagship project. Located near the top end of Lake Nipigion, it's a 9.9-million tonne deposit where the company expects to soon release a preliminary economic assessment of what a potential mine in the Armstrong area could look like.
Despite the volatile commodity pricing in the last year, lithium is a key ingredient used in the manufacturing of batteries for electric vehicles, as well as for the batteries in laptops and cell phones.
The resource at Root was calculated on the west part of the property, an area the company calls the McCombe deposit. It has a strike length of 1,500 metres and has been drilled down to a depth of more than 250 metres.
In the big picture, Green Tech said it has about 20 kilometres of very prospective lithium ground to cover heading into the summer drill season.
The company has been drilling off a target a kilometre away in the middle of the property called Morrison, with another prospect further to the east called Root Bay. High-grade drill returns from Morrison and Root Bay are increasing their confidence that Root become a significant deposit.
In a news release, Green Tech CEO Luke Cox said they’re just getting started in unearthing the potential at Root.
“This is just the beginning for the Root Project and we are very pleased with the outcome of our maiden mineral resource estimate at Root incorporating just five months exploration at our McCombe deposit with further extension potential.”
The company said it’s started drilling at two more target areas at Root, dubbed Morrison and Root Bay, which are delivering “significant spodumene mineralization.”
“We remain focussed on delivering further high-grade resource growth over 2023.”
With lithium exploration booming in the northwest, Green Tech has made it repeatedly known it wants to be the first mining company put its properties into production to supply the North American electric vehicle market with a lithium hydroxide product. The company is looking at Thunder Bay as a place to site that processing plant.
To help finance their growth, Green Tech inked a strategic collaboration agreement last year with Lithium Americas, a prominent player in the U.S. lithium space.
