Green Technology Metals ups global inventory to 30Mt of lithium ore

Green Technology Metals has increased the Root resource by 38pc, bringing its total Canadian lithium inventory up to 30Mt at 1.17 per cent.

GT1 says there’s even more resource growth potential as drilling continues at its Ontario lithium projects. Pic: Getty Images.

Special Report: Green Technology Metals has reported a substantial resource increase at the Root project, bolstering the company’s global lithium inventory to 30Mt at 1.17 per cent lithia in Ontario, Canada.

• GT1 increases Root lithium resource estimate by 38% to 20.1Mt
• This brings the company’s Canadian inventory up to 30Mt 
• Root is key in GT1’s feedstock plans for proposed lithium conversion facility

The Root project is the cornerstone of the company’s plans to provide long-term feed for its proposed lithium conversion facility in Thunder Bay.

Green Technology Metals (ASX:GT1) says recent drilling has now increased the Root resource by 38% to 20.1Mt at 1.24% Li2O. 

That consists of 10.0Mt at 1.32% Li2O in the indicated category and 5.6Mt at 1.23% Li2O in the inferred category. 

Add that to the existing resources at the Seymour project, the company’s total hard rock lithium mineral resource inventory in Ontario now sits at 30.4Mt.

The next step is to use these updated figures to develop a standalone preliminary economic assessment (PEA) for the Root project – which is expected to be released in the coming weeks.

Still room for resource growth

There could be even more upside, with Root still open downdip and along strike, providing potential for further increases in resources when drilling continues. 

“As our largest project by tonnage, Root is positioned to provide long-term feed for the company’s lithium concentrator and underpins further years of feed for our planned hydroxide conversion facility in Thunder Bay,” GT1 managing director Cameron Henry said. 

“The resource growth reinforces our confidence of the area for future additions and highlights the successful interpretation by our geology team and drilling campaigns. 

“While our geological field teams continue to explore additional targets for resource expansion, our immediate priority remains bringing Seymour through the final stages of permitting and being set for FID. 

“Root, meanwhile, will be the nearby foundation of our long-term feed strategy. 

“Work at Root will shift to advancing the permitting and consultation process, alongside the planned standalone PEA, to keep the Root project on track for targeted production in 2030.”

Future infill drilling will aim to further improve the confidence of the already identified underground mineral resources from the inferred to indicated category as the project develops.

This article was developed in collaboration with Green Technology Metals, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.