Exploration Update on the Leinster Project

RNS Number : 1931N

Technology Minerals PLC

19 January 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. 

19 January 2023

Technology Minerals Plc  

("Technology Minerals" or the "Company")  

Exploration Update on the Leinster Project

Company reports high-grade lithium pegmatite results from field geochemical exploration programme on its Leinster lithium property in 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 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
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
Louisa Waddell, Tim Dainton	[phone]
Gracechurch Group
Harry Chathli, Alexis Gore, William Dobinson	[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    

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)

 

END

 

 

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