Assay results include 2.55% Li2O at 2m depth

Technology Minerals PLC

12 December 2023

 

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. 

12 December 2023             

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

Knockeen Trenching Results include 2.55% Li₂O Sample at Two Metres Depth

Assays Confirm Near-Surface Lithium Find Along Spodumene Pegmatite Dike System at Leinster Lithium Project, Ireland 

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce assay results from the initial Knockeen shallow trench sampling programme opened up at 1-2m depth and completed in December 2023 at its Leinster Lithium Project in Ireland. The project is being operated by Global Battery Metals Ltd ("GBML"), (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), and is progressing under an option agreement between GBML and Technology Minerals.

Highlights:

·    Assay results (see Table 1) show lithium mineralisation in all five trench samples collected at 1m intervals along the exposed spodumene pegmatite dike, grading as high as 2.55% Li₂O (source: ALS Laboratories, Loughrea, Ireland).

·    Several grab samples taken from large pegmatite boulders unearthed in the trench at depths between 1-2m returned grades as high as 3.00% Li₂O.

·    This trench pegmatite is interpreted to be the same pegmatite intersected at 30m depth in drill hole 23-1597-02 and at 60m depth in drill hole 23-1597-03.

·    Rock and trench profile soil assay results will be used for 2024 exploration planning on the prospect and at several other target areas on licence property.

·    This dike is just one of the spodumene bearing dikes intersected in the drilling which form a broadly NE-SW trending dike swarm of up to seven dikes in 24 separate intercepts in nine diamond cored drill holes.

Alex Stanbury, CEO of Technology Minerals, said: "We are very pleased to report these assay results at Knockeen, which showed lithium mineralisation in all five trench samples collected at 1m intervals and grades as high as 2.55% Li₂O.  The consistency of the results we are seeing continue to build on our belief in the asset and add to the potential value of the prospect."

Michael Murphy, CEO of Global Battery Metals, said: "We're thrilled to see 2.55% Li₂O at just 2 metres depth. Successful exploration is about resource discovery paired with strong economics, and the implication of hitting high grades at near-surface levels can lead to lower drilling costs and increased efficiencies in exploration. In general, we know that samples from this area grade up to 3.5%, but the consistency that we continue to see is key to securing serious commercial partners. Still, just knowing that a pick and shovel can get us to 2.55% has me thinking about the district-scale opportunities ahead."

Sample ID	Trenched Dike Samples - 1m Intervals	Li ppm	Li2O%
AES62943	Metre 1- Dec 2023	3,090	0.67
AES62844	Metre 2 - Dec 2023	2,830	0.61
AES62945	Metre 3 - Dec 2023	11,850	2.55
AES62946	Metre 4 - Dec 2023	1,500	0.32
AES62947	Metre 5 - Dec 2023	4,270	0.92
Sample ID	Grab Samples - Trenched Boulders	Li ppm	Li2O%
AES62948	Grab 1 - Dec 2023	13,950	3.00
AES62949	Grab 2 - Dec 2023	10,100	2.17
AES62950	Grab 3 - Dec 2023	9,200	1.98

Table 1: Highlight results from Knockeen Lithium Pegmatite Trenching Programme (December 2023)

* Li₂O % = Li ppm % (x 2.153)

Trench Results

The current trench was designed to confirm an historical trenched spodumene occurrence intersected by a previous operator in the mid-1970's. The new trench lies 25m along trend and to the east of the old trench and forms a "T" shape by first cross-cutting the pegmatite dike with a 25m N-S trench (23-1597-TR01) and then exposing the dike along five meters of its length to the west (23-1597-TR02) towards the historical trench occurrence. (see Images 1 & 5).

The pegmatite intersected in the trench contained spodumene crystals along its exposed length and five chip samples across the width of the dike were collected at 1m intervals (see Images 1 & 2). Assays from these samples; AES62943 to AES62947 are shown in Table 1 and the detailed sample location data from the trench is shown (see Image 2). The spodumene pegmatite dike comprises of the coarsely bladed white lithium mineral spodumene (see Image 3) along with variable amounts of quartz and feldspar.  Three grab samples; AES62948 to AES62950 were also collected from large blocks of spodumene pegmatite lying immediately above the actual bedrock in the trench (see Image 4). A series of soil profile samples were also collected from along the length of the trench and over the exposed spodumene pegmatite. The results from these samples are pending and will provide valuable information on lithium dispersion within different parts of the overburden profile going forward.

All samples were analysed and reported by ALS Laboratories in Ireland. Work on this small footprint of field area was undertaken in close association with the landowner and the Company will rehabilitate the trenched area back to the original field condition on completion.

The trenching has assisted greatly in the interpretation of the spodumene bearing pegmatite dikes encountered in the 2023 summer drilling programme. The dikes both in the trench and the drilling dip north westwards at approximately 40 degrees. This trench pegmatite is interpreted to be the same pegmatite intersected at 30m depth in drill hole 23-1597-02 and at 60m depth in drill hole 23-1597-03.  This gives a total down dip extension of at least 100m from surface. This dike is just one of the spodumene bearing dikes intersected in the drilling which form a broadly NE-SW trending dike swarm of up to seven dikes in 24 separate intercepts in nine diamond cored drill holes.

Image 1: Knockeen Lithium Pegmatite Shallow Trench

Pictured is a cross-cut intersection (facing north) of the lithium pegmatite dike

Image 2: Knockeen Lithium Pegmatite Shallow Trench

Chip sampling and assay results.

Image 3: Knockeen Lithium Pegmatite Shallow Trench

High grade spodumene pegmatite crystals within sample AES62945 (2.55% Li₂O).

Image 4: Knockeen Lithium Pegmatite Shallow Trench

The spodumene pegmatite boulder unearthed from the shallow trench at Knockeen

that yielded a 3.00% Li₂O sample AES62949.

Image 5: Knockeen Lithium Pegmatite Shallow Trench (Detail)

Location of historical trench and recent drilling.

Geology & Structure

The property lies along part of a 135km long regional structural trend of known lithium-bearing pegmatite bedrock occurrences, situated along the south-eastern margin of the Leinster Granite Massif and centred on the Aclare and Moylisha occurrences which were discovered during 1960s and 1970s and are currently being explored by Blackstairs Lithium (under the Ganfeng - International Lithium joint venture).

This trend is focused along and within a broad regional NE-SW trending structural zone termed the East Carlow Deformation Zone ("ECDZ") which runs for over 135km along the SE flank of the Leinster Granite Massif between Dublin in the NE and north of New Ross to the SW. A recent detailed regional structural review and interpretation by the Company using remote sensing data and regional geophysical data sets confirmed that PLA 1597 lies within the key ECDZ structural zone.

The Knockeen target area lies directly within this zone as it passes through the northern margin of the Backstairs Granite Pluton whilst the southern part of the license is cross-cut by a splay of the ECDZ which passes south westwards along the southern margin of the Backstairs Granite Pluton. This southerly splay 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 which will commence over the coming months.

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 525km² situated along strike to nearby Blackstairs Lithium's Avalonia Project (297km² joint venture between Ganfeng Lithium Co. Ltd. and International Lithium Corp.). All of the license holdings are located within or along the important East Carlow Deformation Zone, which is interpreted to control the emplacement of an existing LCT pegmatite field at the Blackstairs Mountains.

With first phase drilling concluded at Knockeen, Technology Minerals and GBML have succeeded in identifying a new and structurally controlled LCT pegmatite system of significance, importantly recording 24 intervals of lithium bearing spodumene pegmatites intersected across nine holes drilled. The spodumene pegmatites range in width between 0.10m up to 0.63m (true width) with the highest values grading up to 2.57% Li₂O. No drilling has ever been carried out at the Knockeen Prospect previously and intersecting lithium bearing pegmatites in all of the holes drilled so far is considered a major technical success for the Technology Minerals and GBML. 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 lithium.

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 license holders must comply with all of the relevant legislation. Technology Minerals and GMBL are 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 which was reviewed, approved and signed off by the appropriate oversight authorities. TM1s Directors understand that social license is key to unlocking positive exploration outcomes by following low impact / low sound / low disturbance exploration programme 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 Technology Minerals and, a "qualified person" within the meaning of National Instrument 43-101.

Quality Assurance/Quality Control

Quality Assurance/Quality Control ("QA/QC") of drill core samples and associated assay results are monitored by GBML and Technology Minerals through a 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 and Technology Minerals are 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	[phone]
Oberon Investments Limited
Nick Lovering, Adam Pollock	[phone]
Gracechurch Group
Harry Chathli, Alexis Gore, Rebecca Scott	[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 raw material exploration required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. 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 trenching programme, results therefrom, and the timing of such results. 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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