Update on exploration campaign at Leinster Project

RNS Number : 3698G

Technology Minerals PLC

15 November 2022

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

15 November 2022

Technology Minerals Plc  

("Technology Minerals" or the "Company")  

Update on exploration campaign at Leinster Project in Ireland

Field geochemical exploration programme is advancing on schedule and confirms a well-defined spodumene pegmatite boulder train on Prospecting Licence Area 1597

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce field exploration work is advancing on schedule on the North-West Leinster Lithium Project, with a particular focus on Prospecting Licence Area ("PLA") 1597.

Highlights:

· Field geochemical exploration programme advancing on schedule.

· The first target area in the vicinity of the historical spodumene bearing trench at Knockeen East is being targeted by a closely spaced deep overburden sampling programme.

· The area is also undergoing intensive prospecting which is consolidating the extent of the spodumene pegmatite boulder train as well as significantly enhancing the resolution of the dispersion zone and therefore the target potential drill target areas.

· A total of 46 rock samples and 233 deep overburden samples along with 13 QAQC samples have been collected to-date and submitted to ALS Laboratories for analysis.

· Deep overburden sampling and prospecting is continuing across the survey grid area, and will migrate to the second target area at Carriglead in due course.

· This work is being carried out to help determine specific areas for follow up drilling.

Field Exploration Programme update

The current phase of detailed exploration work is centred on an where a forty-year-old historical report described a trench excavated at Knockeen Townland on PLA 1597 as having uncovered in bedrock, a 1.8m wide spodumene-bearing pegmatite dyke. However no detailed laboratory assays or geological maps of the trench were reported at that time. Historical prospecting around the trench also reported the occurrence of up to 10 large boulders of spodumene bearing pegmatite at surface some of which may have come from the pegmatite dyke historically intersected in the trench.

The current exploration programme is utilising a well tried and tested geochemical exploration technique called Pionjar or Deep Overburden Sampling. This technique uses equipment to penetrate the soil and glacial till down to the bedrock interface where a sample is collected for analysis. The depth of the sampled material varies between 1m and 5m depth at Knockeen and is much more accurate than sampling nearer to surface soil material as the sample point is closer to the bedrock source of the lithium bearing pegmatites and helps to remove the effects of geochemical dispersion at higher levels in the overburden profile.

The first part of the programme will be carried out in two stages commencing on an initial closely spaced grid (Grid 1) over the area of the historical trench, which will be completed on 25m spaced lines with samples collected at 15m intervals or stations. This will be followed by Stage 2 extending westwards following the trend of the spodumene pegmatite boulder train and termed Grid 2 (in progress) this grid will cover a larger area at 50m line spacing and 30m sample intervals (Figure 2).

The field programme commenced in October 2022 and will continue to late November 2022. To date, a total of 233 deep overburden samples along with 13 QAQC samples have been collected and submitted to ALS Laboratories for analysis, results are pending.

In association with the deep overburden sampling a detailed programme of prospecting is ongoing and to-date 46 rock samples have been collected and submitted to ALS Laboratories for analysis. Subject to any delays in the analysis of the samples, the results for the entire programme are expected to be processed and returned by the end of 2022.

Once the two grids at Knockeen are completed the team will move to the second target area at Carriglead two kilometres to the south where a similar historically reported and since verified spodumene pegmatite boulder train has been identified.

Photo 1: Deep Overburden sampling (top) and

newly discovered Spodumene pegmatite samples from Knockeen (bottom)

Target focus PLA 1597

The licence, which was awarded to Technology Minerals' wholly owned subsidiary LRH Resources Limited ("LRH") on 22 March 2022, forms part of the Company's Leinster Property exploration block, which is operated under an exclusive Option and Earn-in agreement with Global Battery Metals Ltd ("GBML"), (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ) with no project expenditure required by the Company.

PLA 1597 was identified as prospective for lithium pegmatite potential by LRH and its exploration consultants Aurum Exploration Services ("Aurum") following detailed desktop studies which outlined two proximal areas of spodumene-bearing pegmatite reported by previous operators in the mid-1970s. Initial prospecting confirmed a high grade spodumene bearing pegmatite boulder dispersion train during a due diligence prospecting survey at two localities (Figure 1). Results from the six samples returned values between 0.70% Li₂O to 2.95% Li₂O at Knockeen and Carriglead and have been reported previously.

Alex Stanbury, CEO of Technology Minerals, said : "We are pleased the exploration campaign at the Leinster Project in Ireland is progressing well, where previous work has confirmed high-grade lithium in spodumenepegmatites.  The current programme, which is expected to be completed by the end of November, will help to determine target areas for follow up drilling and we look forward to receiving the assay results in due course."

Figure 1: Map showing location of prospecting samples at Knockeen and Carriglead

Figure 2: Deep Overburden Sampling programme PLA 1597

Competent Person

All scientific and technical information in this announcement has been prepared under the supervision of EuroGeol Vaughan Williams M.Sc. P.Geo (a Principal of Aurum Exploration Services who currently provides exploration services to TM and to LRH), and a "qualified person" within the meaning of National Instrument 43-101. Vaughan Williams is also company secretary of LRH and a Director of the LRH Spanish subsidiary Asturmet Recursos S.L.

Enquiries

Technology Minerals Plc
Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer	[phone]
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD, President & CEO	[phone]
Oberon Investments Limited
Nick Lovering, Adam Pollock	[phone]
Arden Partners Plc
Ruari McGirr, George Morgan	[phone]
Gracechurch Group
Harry Chathli, Alexis Gore, Amy Stupavsky	[phone]

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, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk    

 

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