Update on Leinster Lithium drill campaign

Technology Minerals PLC

07 June 2023

 

7 June 2023

Technology Minerals Plc

("Technology Minerals" or the "Company")

Update on Leinster Lithium drill campaign

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to note that Global Battery Metals Ltd ("GBML") (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ) has today announced an update on progress of the drilling campaign at Leinster Project in Ireland.  The Company's Leinster Property exploration block is operated under an exclusive Option and Earn-in agreement with GBML, with no project expenditure required by the Company.

The GBML release is copied below and a link to the announcement can be found here: https://gbml.ca/news-releases/global-battery-metals-provides-leinster-lithium-drill-program-update/

Global Battery Metals Provides Leinster Lithium Drill Program Update

Company Confirms Multiple Pegmatite Drill Core Intercepts at its Knockeen Prospect; Begins Shipping Samples to Lab

June 7, 2023, Vancouver, British Columbia - Global Battery Metals Ltd. (the "Company" or "GBML" or "Global Battery Metals") (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), a critical mineral exploration company focused on growth-oriented lithium and battery metal projects, is pleased to provide an update on its inaugural drilling campaign at the Leinster Lithium Project in Ireland. 

Highlights:

·    Multiple, pegmatite intercepts have been intersected in initial drill holes (see Figure 1)

·    Surface geochemistry targets are being tested as part of current drilling campaign and already providing strong corroborative proof of concept to our geological interpretation

·    Successive holes will be targeting different parts of the anomalous deep overburden geochemistry grid

·    Company has started to transport pegmatite core samples to ALS Laboratories for analysis 

"So far, our initial drill holes have delivered very promising pegmatite intercepts that have the on-site teams excited," said Michael Murphy, CEO of Global Battery Metals. "While there's still more work to accomplish, we are making good progress hitting close-to-surface pegmatite intercepts and processing core for analysis. We will continue to follow what we are finding, and optimize our drill plans accordingly."

Exploration and Drilling Update

Phase 1 of the Leinster Drill Program (see May 10, 2023 press release) is focusing efforts on the Knockeen Prospect ("Prospecting License Area 1597") and prospective lithium pegmatite trend targets including up to six potential dikes that the Company believes are located proximal to the historically reported trenched bedrock occurrence. The Drill Program has been approved under the governments appropriate assessment screening process for up to 10 drill holes. No drilling has ever been carried out at this prospect previously and hitting bedrock pegmatites in the first hole drilled is considered a major technical success for the company. The project is being managed on the ground for the company by exploration contracting company Aurum Exploration Limited.

As previously noted, significant sampling and mapping across the Knockeen Prospect has been conducted, with the potential discovery of up to six LCT pegmatite dikes (see March 20, 2023, press release) and the most recent assay results of 66 rock samples released by ALS Laboratories returning Li₂O% lithium contents ranging up to 3.75 % Li₂O / 17,410 ppm Li (see Figure 2 and January 18, 2023, press release).

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. The Company is 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 and which is reviewed, approved and signed off by the appropriate oversight authorities.

For additional program details, please see the Company's Leinster Project Overview in addition to the latest version of the Company's Investor Presentation available for download from the GBML website (www.gbml.ca).

Competent Person

All scientific and technical information in this announcement has been prepared under the supervision of and reviewed and approved by EuroGeol 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. Vaughan Williams is also company secretary of LRH.

The Knockeen Prospect forms part of the Project exploration block, which is operated under an exclusive option and earn-in agreement with Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, and its wholly owned subsidiary LRH.

About the Leinster Lithium Project

The Project, located in the counties of Wicklow and South Carlow, in the Republic of Ireland, is a lithium pegmatite project that consists of 16 prospecting license areas located SW of Dublin and is adjacent to the Ganfeng Lithium / International Lithium Corporation Blackstairs Lithium Project. Lithium mineralization has been confirmed across all Project areas explored to date, with the potential discovery of up to six LCT pegmatite dikes and assay results of 66 rock samples released by ALS Laboratories returning Li₂O% lithium contents ranging up to 3.75 % Li₂O / 17,410 ppm Li at the Knockeen Prospect. The Project's maiden Drill Program, now underway, is permitted for up to 10 drill holes.

About Global Battery Metals Ltd.

GBML is an international mineral exploration and development company with a focus on lithium and other metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in four battery metal projects: (1) an option to acquire up to a 90% in the drill-ready Leinster Lithium Property in Ireland; (2) a 100% interest in the drill-ready Lithium King Property in Utah; (3) an option to acquire up to a 100% interest in the La Poile Lithium Project in Newfoundland; and (4) a 55% stake in Peru-based Lara Copper Property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. GBML will retain a 0.75% net smelter royalty. GBML's common shares are listed on the TSX Venture Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC Markets (OTCQB: REZZF).

Global Battery Metals Ltd.

Michael Murphy BA, MBA, MSc., ICD

President & CEO

T: 604-649-2350

E: [e-mail]

W: www.gbml.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 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. 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 proposed 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, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. 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.

- Ends -

Enquiries

Technology Minerals Plc
Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer	c/o [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 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. To meet 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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