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#TM1 Technology Minerals PLC – Exploration Update on the Leinster Project
Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce results from detailed lithogeochemical sampling has yielded high-grade spodumene pegmatite samples in float ranging up to 3.75% lithium oxide (“Li2O”) at Prospecting Licence Area (“PLA 1597”) in County Carlow, Republic of Ireland.
Highlights:
· Assay results are reported for the first stage of detailed lithogeochemical sampling at the Knockeen and Carriglead target areas on the Company’s Leinster Lithium Project.
· A total of 56 rock samples are reported, all of which were analysed at ALS Laboratories in Ireland.
· Two prospects are reported at:
o Knockeen: Out of a total of 56 samples, 41 samples graded above 1% Li2O, of which 20 graded above 2% Li2O and of which two graded above 3% Li2O (Sample AES 63003 – 3.63% Li2O and Sample AES 63033 – 3.75% Li2O)
o Carriglead: Out of a total of 10 samples, six samples graded above 1% Li2O of which one sample analysed above 2% Li2O (sample AES63504 – 2.09% Li2O).
· The programme of intensive prospecting has consolidated the extent of the spodumene pegmatite boulder train at surface as well as significantly enhancing the resolution of the dispersion zone
· The known extent of the boulder train is now over 1km in length from NE to SW and 0.5km from NW to SE and is still open in all directions at Knockeen and Carriglead
· The ongoing work is helping to refine specific areas for targeted drilling.
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.
Field Exploration Programme Update
The current phase of detailed exploration work is centred on an area where a forty-year-old historical company report described a trench excavated at Knockeen Townlands on PLA 1597 (Figure 1) which uncovered in bedrock, a 1.8m wide spodumene-bearing pegmatite vein. 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.
The current exploration programme carried out under LRH Resources management by Aurum Exploration Services Limited included an initial reconnaissance in July 2022 totalling six samples followed by a more detailed prospecting and lithogeochemical survey on two areas at Knockeen and Carriglead Townlands in December 2022 and totalling 56 samples (Figure 1 & Table 1).
Prospect |
Programme |
No |
Carriglead |
Recon Sampling July 2022 |
2 |
Knockeen |
Recon Sampling July 2022 |
4 |
Prospect |
Programme |
No |
Carriglead |
Follow Up Sampling Dec 2022 |
10 |
Knockeen |
Follow Up Sampling Dec 2022 |
56 |
Prospect |
Programme |
No |
Carriglead |
Total |
12 |
Knockeen |
Total |
60 |
Table 1: Showing number of samples collected (July 2022 & December 2022)
Preliminary Reconnaissance July 2022
Two areas at Knockeen and Carriglead Townlands were targeted with an initial reconnaissance visit in July 2022. Six samples were collected during a site visit and included four at Knockeen and two at Carriglead. Analytical results confirmed the presence of the historically reported spodumene pegmatite boulder train and returned very significant grades of Li2O in all samples. These results have been reported previously but are reproduced here for continuity (Table 2).
Sample_ID |
Programme |
Li_ppm |
Li2O_% |
Prospect |
210724CL05 |
Recon Sampling July 2022 |
13,700 |
2.95 |
Knockeen |
210724CL03 |
Recon Sampling July 2022 |
11,200 |
2.41 |
Knockeen |
210724CL04 |
Recon Sampling July 2022 |
11,000 |
2.37 |
Knockeen |
210724CL02 |
Recon Sampling July 2022 |
3,240 |
0.70 |
Knockeen |
AES61138 |
Recon Sampling July 2022 |
7,470 |
1.61 |
Carriglead |
AES61137 |
Recon Sampling July 2022 |
3,550 |
0.76 |
Carriglead |
Table 2: Results from reconnaissance prospecting (July 2022)
* Li2O % = Li ppm % (x 2.153)
Follow Up Detailed Prospecting and Lithogeochemistry
In December 2022, an extensive prospecting and lithogeochemistry survey was completed covering the two areas identified during the reconnaissance programme. A total of 56 samples were collected at Knockeen and 10 at Carriglead. The results were highly encouraging with coherent boulder trains of spodumene-bearing lithium pegmatites mapped out across the prospects. The highlight sample results are shown in Table 3 and the full results are appended in Appendix 1 to this release in Tables 4 and 5 with associated maps showing the locations in Figure 2 (Knockeen) and Figure 3 (Carriglead) below.
Figure 1: Location of the Knockeen and Carriglead target areas PL 1597 showing sample locations
Sample_ID |
Programme |
Li_ppm |
Li2O% |
AES63003 |
Follow Up Sampling Dec 2022 |
17,410 |
3.75 |
AES63033 |
Follow Up Sampling Dec 2022 |
16,860 |
3.63 |
AES63519 |
Follow Up Sampling Dec 2022 |
13,160 |
2.83 |
AES63015 |
Follow Up Sampling Dec 2022 |
13,050 |
2.81 |
AES63029 |
Follow Up Sampling Dec 2022 |
12,920 |
2.78 |
AES63042 |
Follow Up Sampling Dec 2022 |
12,580 |
2.71 |
AES63014 |
Follow Up Sampling Dec 2022 |
12,200 |
2.63 |
AES63021 |
Follow Up Sampling Dec 2022 |
12,040 |
2.59 |
AES63018 |
Follow Up Sampling Dec 2022 |
11,980 |
2.58 |
AES63011 |
Follow Up Sampling Dec 2022 |
11,820 |
2.54 |
Table 3: Highlight results from the prospecting programme (December 2022)
* Li2O % = Li ppm % (x 2.153)
The current results focussed on the two areas and considerably enhanced the area of boulder trains and significantly shows the high-grade nature and size of the boulders in the material being sampled.
Figure 2: Location of samples and assay results from the Knockeen target area
Figure 3: Location of samples and assay results from the Carriglead target area
Photo 1: Spodumene pegmatite samples from Knockeen and Carriglead
Alex Stanbury, CEO of Technology Minerals, said: “These latest assay results from the Leinster Project in Ireland are highly encouraging and build on previous reconnaissance work which displayed significant grades of Li2O in all samples. The results announced today continue to demonstrate the high-grade nature and size of the boulders in the material being sampled as well as expanding the known extent of the spodumene pegmatite boulder train at Knockeen and Carriglead. Today’s results and ongoing work will help us to determine specific areas for targeted drilling as we progress with the exploration campaign.”
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 |
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Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
+44 20 4582 3500 |
Global Battery Metals Ltd. |
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Michael Murphy BA, MBA, MSc., ICD, President & CEO |
+1 604-649-2350 |
|
|
Oberon Investments Limited |
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Nick Lovering, Adam Pollock |
+44 (0)20 3179 0535 |
Arden Partners Plc |
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Louisa Waddell, Tim Dainton |
+44 207 614 5900 |
|
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Gracechurch Group |
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Harry Chathli, Alexis Gore, William Dobinson |
+44 20 4582 3500 |
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
Appendix 1: Analytical Results
Sample_ID |
Programme |
Li _ppm |
Li2O% |
Prospect |
AES63003 |
Follow Up Sampling Dec 2022 |
17,410 |
3.75 |
Knockeen |
AES63033 |
Follow Up Sampling Dec 2022 |
16,860 |
3.63 |
Knockeen |
AES63519 |
Follow Up Sampling Dec 2022 |
13,160 |
2.83 |
Knockeen |
AES63015 |
Follow Up Sampling Dec 2022 |
13,050 |
2.81 |
Knockeen |
AES63029 |
Follow Up Sampling Dec 2022 |
12,920 |
2.78 |
Knockeen |
AES63042 |
Follow Up Sampling Dec 2022 |
12,580 |
2.71 |
Knockeen |
AES63014 |
Follow Up Sampling Dec 2022 |
12,200 |
2.63 |
Knockeen |
AES63021 |
Follow Up Sampling Dec 2022 |
12,040 |
2.59 |
Knockeen |
AES63018 |
Follow Up Sampling Dec 2022 |
11,980 |
2.58 |
Knockeen |
AES63011 |
Follow Up Sampling Dec 2022 |
11,820 |
2.54 |
Knockeen |
AES63023 |
Follow Up Sampling Dec 2022 |
11,620 |
2.50 |
Knockeen |
AES63028 |
Follow Up Sampling Dec 2022 |
11,580 |
2.49 |
Knockeen |
AES63041 |
Follow Up Sampling Dec 2022 |
11,570 |
2.49 |
Knockeen |
AES63037 |
Follow Up Sampling Dec 2022 |
11,510 |
2.48 |
Knockeen |
AES63016 |
Follow Up Sampling Dec 2022 |
11,460 |
2.47 |
Knockeen |
AES63044 |
Follow Up Sampling Dec 2022 |
11,340 |
2.44 |
Knockeen |
AES63012 |
Follow Up Sampling Dec 2022 |
11,180 |
2.41 |
Knockeen |
AES63008 |
Follow Up Sampling Dec 2022 |
9,920 |
2.14 |
Knockeen |
AES63048 |
Follow Up Sampling Dec 2022 |
9,520 |
2.05 |
Knockeen |
AES63043 |
Follow Up Sampling Dec 2022 |
9,360 |
2.02 |
Knockeen |
AES63027 |
Follow Up Sampling Dec 2022 |
8,820 |
1.90 |
Knockeen |
AES63046 |
Follow Up Sampling Dec 2022 |
8,790 |
1.89 |
Knockeen |
AES63516 |
Follow Up Sampling Dec 2022 |
8,370 |
1.80 |
Knockeen |
AES63036 |
Follow Up Sampling Dec 2022 |
8,300 |
1.79 |
Knockeen |
AES63007 |
Follow Up Sampling Dec 2022 |
8,090 |
1.74 |
Knockeen |
AES63026 |
Follow Up Sampling Dec 2022 |
8,030 |
1.73 |
Knockeen |
AES63010 |
Follow Up Sampling Dec 2022 |
7,890 |
1.70 |
Knockeen |
AES63517 |
Follow Up Sampling Dec 2022 |
7,910 |
1.70 |
Knockeen |
AES63512 |
Follow Up Sampling Dec 2022 |
7,840 |
1.69 |
Knockeen |
AES63017 |
Follow Up Sampling Dec 2022 |
7,550 |
1.63 |
Knockeen |
AES63520 |
Follow Up Sampling Dec 2022 |
7,370 |
1.59 |
Knockeen |
AES63049 |
Follow Up Sampling Dec 2022 |
7,100 |
1.53 |
Knockeen |
AES63515 |
Follow Up Sampling Dec 2022 |
7,040 |
1.52 |
Knockeen |
AES63024 |
Follow Up Sampling Dec 2022 |
6,190 |
1.33 |
Knockeen |
AES63031 |
Follow Up Sampling Dec 2022 |
6,140 |
1.32 |
Knockeen |
AES63013 |
Follow Up Sampling Dec 2022 |
5,720 |
1.23 |
Knockeen |
AES63019 |
Follow Up Sampling Dec 2022 |
5,420 |
1.17 |
Knockeen |
AES63030 |
Follow Up Sampling Dec 2022 |
5,300 |
1.14 |
Knockeen |
AES63034 |
Follow Up Sampling Dec 2022 |
4,960 |
1.07 |
Knockeen |
AES63039 |
Follow Up Sampling Dec 2022 |
4,790 |
1.03 |
Knockeen |
AES63022 |
Follow Up Sampling Dec 2022 |
4,710 |
1.01 |
Knockeen |
AES63514 |
Follow Up Sampling Dec 2022 |
4,300 |
0.93 |
Knockeen |
AES63045 |
Follow Up Sampling Dec 2022 |
4,290 |
0.92 |
Knockeen |
AES63025 |
Follow Up Sampling Dec 2022 |
3,940 |
0.85 |
Knockeen |
AES63032 |
Follow Up Sampling Dec 2022 |
3,550 |
0.76 |
Knockeen |
AES63035 |
Follow Up Sampling Dec 2022 |
2,680 |
0.58 |
Knockeen |
AES63009 |
Follow Up Sampling Dec 2022 |
1,920 |
0.41 |
Knockeen |
AES63047 |
Follow Up Sampling Dec 2022 |
1,480 |
0.32 |
Knockeen |
AES63038 |
Follow Up Sampling Dec 2022 |
450 |
0.10 |
Knockeen |
AES63001 |
Follow Up Sampling Dec 2022 |
120 |
0.03 |
Knockeen |
AES63002 |
Follow Up Sampling Dec 2022 |
120 |
0.03 |
Knockeen |
AES63004 |
Follow Up Sampling Dec 2022 |
120 |
0.03 |
Knockeen |
AES63005 |
Follow Up Sampling Dec 2022 |
130 |
0.03 |
Knockeen |
AES63513 |
Follow Up Sampling Dec 2022 |
100 |
0.02 |
Knockeen |
AES63518 |
Follow Up Sampling Dec 2022 |
80 |
0.02 |
Knockeen |
AES63006 |
Follow Up Sampling Dec 2022 |
60 |
0.01 |
Knockeen |
Table 4: Results from follow up prospecting at Knockeen (December 2022)
* Li2O % = Li ppm % (x 2.153)
Sample_ID |
Programme |
Li_ppm |
Li2O% |
Prospect |
AES63504 |
Follow Up Sampling Dec 2022 |
9,720 |
2.09 |
Carriglead |
AES63503 |
Follow Up Sampling Dec 2022 |
8,890 |
1.91 |
Carriglead |
AES63509 |
Follow Up Sampling Dec 2022 |
7,870 |
1.69 |
Carriglead |
AES63501 |
Follow Up Sampling Dec 2022 |
7,460 |
1.61 |
Carriglead |
AES63507 |
Follow Up Sampling Dec 2022 |
5,620 |
1.21 |
Carriglead |
AES63505 |
Follow Up Sampling Dec 2022 |
5,120 |
1.10 |
Carriglead |
AES63508 |
Follow Up Sampling Dec 2022 |
3,280 |
0.71 |
Carriglead |
AES63511 |
Follow Up Sampling Dec 2022 |
500 |
0.11 |
Carriglead |
AES63506 |
Follow Up Sampling Dec 2022 |
330 |
0.07 |
Carriglead |
AES63502 |
Follow Up Sampling Dec 2022 |
290 |
0.06 |
Carriglead |
Table 5: Results from follow up prospecting at Carriglead (December 2022)
* Li2O % = Li ppm % (x 2.153)
#BRES Blencowe Resources Plc – Export Approval for Bulk Samples
· Ugandan Government approves landmark one-off permit for Blencowe to export bulk sample graphite from Orom-Cross for key final testing
· Underlines huge support for Orom-Cross advancement to production at all levels within the country
· Blencowe has successfully completed two rounds of smaller sample metallurgical testing on Orom-Cross graphite during 2022, using technical firms in Canada and Australia.
· Mandate signed with experienced Chinese graphite processing specialist Jilin Huiyang New Material Technology Company Ltd to use its existing bulk pilot facility for final metallurgical testing.
· 100 tonnes of bulk sample to be mined immediately and sea-freighted to China.
· Additional 150kgs sample to be mined and fast-track delivered to China by air freight for initial off-site testing in same facility.
Blencowe Resources Plc (“Blencowe Resources” or the “Company”) (LSE: BRES) is pleased to announce it has received an approval from the Ugandan Ministry of Energy and Mineral Development to export materials from its Orom-Cross Graphite Project to Chinese testing facilities to enable final bulk metallurgical test work to be undertaken in 2023. Blencowe has mandated Jilin Huiyang New Material Technology Company Ltd (“Jilin”) to complete this test work in their existing pilot plant facility, which negates the requirement for the Company to build its own bulk testing facility on-site in the near term.
Jilin has over 30 years direct experience in graphite processing and has completed similar bulk sample testing for other leading international graphite companies in the past. This is a key step in the process to pre-qualify Orom-Cross end-products as concentrates through to OEMs in order to ultimately achieve binding offtake contracts for production from the Project.
As Ugandan Mining Law does not allow for the export of unprocessed raw materials this approval is a landmark decision by the Government, who fully understand the need and requirement for this testing to occur as a key action for the advancement of Orom-Cross towards first production. Blencowe acknowledges and appreciates the support of the Government of Uganda and the Ministry of Energy and Mineral Development in this matter.
The export permits for 100t of bulk raw ore materials and 400 litres of local groundwater will enable the Company to export a representative bulk sample from the initial 5 years of production, which will be used to assess the metallurgical processes on a commercial scale including differing plant components to maximise the grade, recovery and flake sizing from the Project. The addition of the groundwater sample will enable the test facilities to assess the water characteristics in terms of the reagents required under proposed site operating conditions.
Works to excavate and transport the bulk samples will begin immediately and will be freighted by sea to China to have the testing completed as quickly as practically possible. In addition, 150kgs of the same samples will be air-freighted to same Jilin facility more quickly to undergo metallurgical testing and build knowledge before the larger samples arrive.
Blencowe has already been able to share significant data with Jilin having previously completed two stages of bench scale metallurgical testing with SGS in Canada (30kgs) and more recently a further round of testing via a small pilot plant (130kgs) in Perth, Australia. This next-level proposed test in China, using their existing infrastructure and experience, will be done on a considerably larger scale, which will give all parties more knowledge of the end concentrates that can be produced on a production scale from Orom-Cross. It is hoped that this program will initially lead to non-binding MOUs for offtake, and ultimately to binding sale agreements for a substantial portion of the initial 50,000tpa product to be produced from stage one within Orom-Cross. There may also be potential for EPC and funding contracts emanating from this relationship, potentially providing one solution to the CAPEX requirement for initial stage production.
Cameron Pearce, Executive Chairman commented;
“China is currently the most mature graphite market worldwide and entering into an offtake relationship there would be very valuable to us given the highly attractive economics at Orom-Cross, which already has an NPV8 of US$482M based on an initial 14-year mine life, from just ~2% drilled from our broader graphite resource.
This bulk sample trial is significant as a precursor that ultimately leads us to a full offtake agreement, which in turn would enable us to kick start production with a critical mass of product sold to drive profitability and cash flow. If successful it can also lead to building an EPC relationship and potential funding solutions.
The graphite market is evolving very quickly and we will see a lot of change ahead as the world expands from current 15-20 million electric vehicles (EVs) towards the targeted 100 million by 2030. This in turn will drive up the demand for flake graphite as a non-replaceable input required to produce lithium-ion batteries to power these EVs and leading analysts forecast a 300% rise in world demand for graphite by 2030. We are already seeing prices rise in anticipation of this looming shortage. The Chinese graphite market remains the largest and will likely remain so for some time ahead, thus establishing a strong and commercial relationship with both Chinese and other Asian partners is decisive for Orom-Cross and a natural progression for the Company.“
For further information please contact:
Blencowe Resources Plc Sam Quinn |
www.blencoweresourcesplc.com Tel: +44 (0)1624 681 250
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Investor Relations Sasha Sethi |
Tel: +44 (0) 7891 677 441
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Tavira Securities Jonathan Evans |
Tel: +44 (0)20 3192 1733 jonathan.evans@tavirasecurities.com
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First Equity Limited Jason Robertson |
Tel: +44(0)20 7330 1833 jasonrobertson@firstequitylimited.com
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Twitter https://twitter.com/BlencoweRes
LinkedIn https://www.linkedin.com/company/72382491/admin/
Background
Orom-Cross Graphite Project
Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit.
A 21-year Mining Licence for the Project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit and Blencowe completed a successful Pre-Feasibility Study in 2022. The Company has now moved into the Definitive Feasibility Study phase as it drives towards first production.
Orom-Cross presents as a large, shallow open-pitable deposit, with a maiden JORC Indicated & Inferred Mineral Resource deposit of 24.5Mt @ 6.0% Total Graphite Content, with only a small percentage of the overall deposit drilled to date. Development of the resource is expected to benefit from a low strip ratio and free dig operations, thereby ensuring lower operating and capital costs.