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#TM1 Technology Minerals – Update on Cameroon Licences/OEL SPA

Further to the announcement on 23 February 2022, Technology Minerals Plc (LSE: TM1), the first UK company focused on creating a sustainable circular economy for battery metals, announces the following update in respect of the OEL Share Purchase Agreement (“OEL SPA”) as referred to in the Company’s Prospectus.

By way of background, at Admission on 17 November 2021, Technology Minerals acquired all the issued shares of Onshore Energy Limited (“OEL”) from its shareholders (“OEL Vendors”). OEL’s wholly-owned subsidiary, Technology Minerals Cameroon Limited (“TMC”), applied for five exploration permits in Cameroon. As these were not granted prior to Admission, the purchase price and accordingly the issue of New Ordinary Shares to OEL Vendors were reduced by 20% until such time as all five permits are granted, provided that the date of grant was no later than 31 December 2021. Accordingly, the Directors reserved 84,000,000 ordinary shares in the Company to issue to the OEL Vendors providing the permits were granted no later than 31 December 2021. 

 

As announced on 23 February 2022, the Company received copies of all permits concerned and instructed independent Cameroon legal counsel to verify the validity of the permits. Legal counsel has now concluded it was not possible for the five permits to be legally granted to TMC under Cameroonian law and therefore the permits are not valid.  As a result of that advice, the Company will not be issuing the 84,000,000 ordinary shares to the OEL Vendors. The Company is now taking steps so that the permits will be valid under Cameroon law.

 

The Directors of the Company accept responsibility for this announcement.

 

For further information please contact:

 

Technology Minerals Limited

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

#TM1 Technology Minerals – Recyclus Receives Battery Testbed System

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that its 49% owned battery recycling business, Recyclus Group Ltd (“Recyclus”), has received three lithium battery (“LIB”) testbed systems designed to measure a range of different battery chemistries of different sizes at its Wolverhampton site.

 

The LIB testbeds give Recyclus the operational capability to test the effective capacity of battery packs from a range of EV and industrial usages as well as for degradation or damage at the cell level. By charging and discharging batteries to measure capacity and capture stored energy it can also perform a number of other critical performance test criteria. The ability to discharge stored energy unlocks future opportunities to feed energy back into the national grid and for use on-site.

 

This testing capability enables Recyclus to grade batteries and access the reuse market for batteries alongside recycling. The tested battery packs will be sorted into one of three categories: the first are suitable for reuse as they are, the second are defective and need to be recycled, and the third are a split with some cells being retrievable and others not. It creates an opportunity for Recyclus to send suitable batteries back into alternative repurposed applications, depending on their condition and test results.

 

With UK Government estimates suggesting that there could be almost 28 million EVs on the UK’s roads by 2035,1 a substantial number of battery cells are likely to reach end-of-life that are suitable for reuse for different applications, representing a significant market opportunity beyond recycling.

 

Robin Brundle, Chairman of Technology Minerals, said: “This testing capability is another key development for Recyclus designed to create an additional potential new revenue stream by unlocking more of the value-chain in the battery circular economy .

“We are constantly exploring new avenues to expand under our circular economy strategy, and this represents a significant milestone for us in developing our capability for recycling and reuse of batteries, and our ability to harness otherwise wasted energy. Implementing these systems into our process will help to maximise the lifespan of batteries and minimise energy waste.”

Jonathan Regan, Senior Battery Engineer of Recyclus, said: “Developing this function will allow us to work with manufacturers to increase the amount of carbon offset from the batteries’ production by extending their working life through repurposing into alternative applications , supporting the transition to net-zero, and supporting future and current legislative targets.”

Enquiries

Technology Minerals Plc

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

#POW Power Metal Resources – First Development Resources – Selta Lithium Update

Power Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces a lithium focused exploration update for the Selta Project (“Selta” or the “Project”) located in the Northern Territory, Australia, and held by the Power Metal’s 82.78%-owned subsidiary First Development Resources Ltd (“FDR”).

HIGHLIGHTS:

·    Following on from a recent in-depth data review covering Selta, FDR have undertaken a lithium specific review based initially on further desktop analysis.

·    The review specifically focussed on the potential for pegmatite geology across the Selta Project and its capacity to host lithium mineralisation.

·    The desktop work included a review of lithium specific publicly available data, along with a review of satellite imagery and hyperspectral analysis to identify high-priority targets for further field investigation.

·    The multi-layered approach to the target definition process has identified several hundred coincident anomalies potentially indicative of pegmatite geology and 65 initial primary and secondary targets have been selected for further investigation

·    FDR have mobilised a field investigation team which will arrive on site in the coming days to conduct mapping and surface sampling of the prospective targets identified.

 

Tristan Pottas, Chief Executive Officer of First Development Resources Ltd, commented:

“During our recent site visit to the Northern Territory, pegmatite style outcrop was observed within the Selta Project area, further adding weight to the findings from the original in-depth review of the Project.

Given the potential for lithium mineralisation, we commissioned a remote sensing study to look at the pegmatite specific potential and following the identification of 65 prospective targets we have expedited a field-based work programme to test whether the identified targets host lithium bearing mineralisation.”

 

Paul Johnson, Chief Executive Officer of Power Metal Resources PLC, commented:

“The recent £1,125,000 Pre-IPO financing undertaken by FDR demonstrated the level of investor interest in the business proposition.  This capital is being deployed into the planning and listing process, as well as enabling expedited exploration within the FDR project portfolio.

Our confidence in the prospectivity of Selta has grown considerably in recent months, from uranium, rare earth and now lithium potential. Therefore, as the largest shareholder in FDR, Power Metal is eager to see the results from the field exploration programme which is now commencing.”

 

BACKGROUND:

A recently completed in-depth review of all publicly available geological, geophysical and geochemical data for the Selta Project identified multiple uranium and rare-earth element (“REE”) targets within the Selta Project area and also highlighted the potential for lithium, gold and base-metal mineralisation.

The announcement in respect of this in-depth review may be viewed through the following link:

https://www.londonstockexchange.com/news-article/POW/selta-project-multiple-target-areas-identified/15371081

The above review identified the possibility of tin-tantalum-tungsten rich pegmatites within the Selta Project. It is noteworthy that pegmatite fields elsewhere in Australia represent important sources of lithium.

Following consideration of the findings, the Company initiated a follow up lithium specific desktop and remote sensing review over the Selta Project.

SELTA PROJECT – LITHIUM REVIEW

The potential for lithium presents an additional opportunity for a mineral discovery within the Selta Project area, an opportunity which had previously been unknown.

To gain a better understanding of the potential for lithium-caesium-tantalum (“LCT”) type pegmatites, the Company has undertaken a review of all publicly available data to help refine target areas for further investigation. The datasets included in the review have included satellite imagery, known mineral occurrence data recorded on the Northern Territory Government STRIKE database, hyperspectral analysis using Sentinal-2 visible / near infrared and shortwave infrared imagery and historic stream sediment sampling data acquired by Crossland Uranium between 2014-16. The announcement dated 20 May 2022 in respect of the Crossland Uranium stream sediment data may be viewed through the following link:

https://www.londonstockexchange.com/news-article/POW/first-development-resources-selta-project-update/15462581

By applying a multi-layered approach to the target definition process, several coincident anomalies have been identified and a number of primary and secondary targets have been selected for further investigation.

The priority lithium targets selected are primarily associated with surface anomalies which have been identified on satellite imagery and are coincident with a spectral response relating to the spectral fingerprint of identified spectral endmembers. The interpretation of the spectral endmembers has been determined by comparing them to a library of 481 mineral spectra compiled by the United States Geological Survey.  The endmembers of interest at Selta include neodymium (Nd) and lepidolite. Neodymium is a rare-earth element which based on our hyperspectral review, is prevalent across Selta and the adjacent licence areas. Lepidolite can be associated with lithium-bearing minerals like spodumene (LiAl(SiO3)2), in pegmatite bodies.

A field team will be deployed immediately to Selta to conduct site-specific reconnaissance and to collect samples for analysis from multiple high-priority lithium and REE targets. The initial target area will focus on 65 primary and secondary targets identified across two areas. One group of targets covers an area of approximately 3km x 2km and a second area covering approximately 4km x 3km. These two groupings are part of a larger area covering approximately 100km2 within which, several hundred similar surface anomalies have been identified

 

SELTA PROJECT OWNERSHIP

Selta is held within URE Metals Pty Limited (“URE”), an Australian private company and wholly owned subsidiary of FDR .

Power Metal has an 82.78% interest in FDR (62.12% on completion of the recently announced Pre-IPO financing).

The announcement dated 01 June 2022 in respect of the Pre-IPO Financing may be viewed through the following link:

https://www.londonstockexchange.com/news-article/POW/first-development-resources-pre-ipo-financing/15477133

FDR is planning to list on the London capital markets in Q3 2022 (the “IPO”) and is focussed on district scale exploration opportunities in Australia.

URE was acquired by FDR in the transaction managed and funded by Power Metal and the announcement dated 19 November 2021 in respect to this transaction may be viewed through the following link:

https://www.londonstockexchange.com/news-article/POW/uranium-rare-earths-acquisition-australia/15219001

 

FDR EXPLORATION INTERESTS

FDR Australia holds the following exploration licence interests:

Wallal Project (Wallal Main-E45/5816 – 390km2 – granted), (Wallal West 1-E45/5853 96km2 – granted) and (Wallal West 2 – E45/5880 – 86km2 – granted).

A comprehensive geophysical review has identified three magnetic bullseye anomalies located under Phanerozoic sedimentary cover which are interpreted to have possible geological similarities major Au-Cu deposits within the Paterson Province including Winu (Rio Tinto) and Havieron (Newcrest Mining-Greatland Gold joint venture).

Braeside West Project (E45/5854 – 137km2 – one granted licence)

In-depth desktop analysis of historic exploration data is currently underway on the Braeside West Project. A recent base-metal discovery by neighbouring company Rumble Resources Ltd (ASX:RTR) has enhanced the overall prospectively within the Braeside West Project area as it is hosted within a similar geological environment to that of Rumble Resources discovery.

Ripon Hills Project (E45/5088 – 42km2 – one granted licence).

The Ripon Hills Project is prospective for base-metal and gold mineralisation associated with deep-seated north-south oriented fault structures which run through the Ripon Hills Project area. In-depth desktop analysis of historic exploration data is currently underway over the project.

Selta Project (EL 32737, EL 32738, EL 32755 – 1,575km2 – three granted licences)

The Selta Project is located in an area considered to be highly-prospective for uranium and rare earth element mineralisation. FDR recently completed an in-depth review of all geological, geophysical and geochemical data which also identified the potential for lithium, gold and base-metal mineralisation as well as the possibility of tin-tantalum-tungsten rich pegmatites.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

 

 

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

 

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

 

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

 

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Alan Green covers a trading update from #MOON Moonpig, a new appointment by #ECR ECR Minerals and #BRES Blencowe Resources Jorc update on the Vox Market Podcast

Alan Green covers a trading update from #MOON Moonpig, a new appointment by #ECR ECR Minerals and #BRES Blencowe Resources Jorc update on the Vox Market Podcast

Listen here

#POW Power Metal Resources – First Development Resources – Australia site visit

Power Metal Resources plc (LON:POW),  the London listed exploration company seeking large-scale metal discoveries across its global project portfolio, provides an update to shareholders in respect of its 83.33% owned First Development Resources Limited (“FDR”).

FDR is planning to list on the London capital markets in Q3 2022 (the “IPO”) and is focussed on district scale exploration opportunities in Australia.

This update summarises the findings from the recent FDR management site visit to projects in Australia which included reconnaissance at the Wallal and Braeside West Projects in the Paterson Province of Western Australia (“WA”) and the Selta Project in the Northern Territory (“NT”).

 

Highlights

· FDR management visited and conducted reconnaissance at the FDR’s Wallal and Braeside West projects in the Paterson Province of Western Australia and the Selta project located in the Northern Territory. The reconnaissance team was able to access all granted licences using established, well-maintained tracks with direct links to sealed highways.

· Whilst on site the team was able to make high-level observations and document, where possible, the underlying geology and the structural setting at each project. Plans are now being made to determine the most effective way to develop the target areas identified in the recently completed desktop studies.

· The comprehensive geophysical desktop study for the flagship Wallal Project is now complete. The geometry and depth to the main Eastern Magnetic Bullseye anomaly has been constrained and work is progressing to facilitate the commencement of a planned Phase I diamond drilling programme.

· The in-depth data review for the Selta project has identified multiple separate uranium and rare-earth element targets along with the potential for lithium, gold and base-metal mineralisation as well as the possibility of tin-tantalum-tungsten rich pegmatites. Significant outcrop is accessible across the project area and the next phase of exploration to delineate prospective targets is progressing.

· The in-depth review of all historical geological, geophysical and geochemical data associated with the Ripon Hills and Braeside West Projects is nearing completion. The objective of the review is to identify potentially prospective targets associated with the deep-seated north to northwest trending fault structures prevalent throughout the area. The surface expression of these structures were easily observed during the recent site visit to Braeside West.

· As part of the visit the FDR management team had a number of positive meetings with various parties, including;

o  Several prospective investors based in Perth, WA. It was encouraging to note the level of interest in the FDR business proposition;

o  FDR’s Australia based non-executive directors and key advisors including local legal and accounting teams along with the vendor group; and

o  The Government of Western Australian Department of Mines, Industry Regulation and Safety (“DMIRS”) and the Northern Territory Geological Survey (“NTGS”). DMIRS and the NTGS are the custodians of knowledge and data of their respective geology and resources. Both government departments are supportive of FDR and will be a valuable source of data as FDR’s exploration progresses.

 

Tristan Pottas Chief Executive Officer of First Development Resources Ltd commented:

“The recent management visit to FDR’s projects in Western Australia and the Northern Territory was a great success. The main objective of the visit was to gain a better understanding of the nature of our interests in Australia from a geological and logistical perspective and crucially, to meet and spend time with the in-country teams working to realise our aim of making major mineral discoveries.

What was particularly positive was the level of engagement and commitment clearly evident across the advisor and consultancy teams along with a high-level of interest from prospective investors.”

Paul Johnson Chief Executive Officer of Power Metal Resources plc commented:

“The rate at which work is progressing across the FDR portfolio is encouraging. What started out as number of promising conceptual targets now includes a drill-ready target at Wallal and several defined areas for further investigation at the Selta Project.

The broader understanding of the projects gained by spending time on the ground with the teams working with FDR, was important as we enter a key stage in FDR’s development.”

 

PROJECT UPDATE – WALLAL

The geophysical desktop study for FDR’s flagship Wallal project is now complete. Three magnetic bullseye anomalies including the Western , Eastern and Border anomalies, representing Havieron and Winu style Au-Cu base metal targets have been identified within the Wallal project area. The sources of these magnetic highs are expected to occur within the Proterozoic basement rocks underlying thick Phanerozoic cover sediment sequences. A cover-constrained magnetic three dimensional model of the Eastern magnetic bullseye anomaly has been refined and suggests that the anomaly is comprised of two lobes located at approximately 800 metres below surface. This is supported within higher-order derivative filtered images of the airborne magnetic data, and it results in a well-defined drill target which will be tested during the planned Phase I diamond core drilling programme.

A Programme of Works application for ground disturbance in preparation for the planned Phase I diamond core drilling programme, initially targeting the Eastern anomaly, has been approved by the DMIRS. Additionally, in accordance with Section 18 of the Aboriginal Heritage Act 1972 and in accordance with the terms of the Heritage Agreement in place with the Yamatji Marlpa Aboriginal Corporation (“YAMC”) as agent for the Nyangumarta Warrarn Aboriginal Corporation RNTBS, a Heritage Clearance Survey Request which covers the Eastern and Border anomalies and all associated access tracks has been submitted to YMAC. FDR expect to receive confirmation of the commencement date of the Heritage Survey in the coming weeks.

The Wallal project area was recently visited by the FDR management team as part of a broader visit which incorporated all of FDR’s project locations in Australia. The relative ease of access to the Wallal licence area from the Great Northern highway was noted along with the absence of significant dune corridors which are characteristic within other areas of the Paterson region. Both points are particularly encouraging when considering the logistical challenges typically associated with operating in remote areas.

 

PROJECT UPDATE – BRAESIDE WEST AND RIPON HILLS

FDR’s Braeside West and Ripon Hill licence areas are located approximately 260 kilometres southeast of Port Hedland on the western edge of the Paterson Province in Western Australia. The projects are located on the western and eastern limbs of the Oakover Syncline. The area is believed by FDR to be primarily prospective for manganese similar to the nearby Woodie Woodie manganese mine, as well as base-metal and gold mineralisation associated with deep-seated north to north-westerly trending fault structures. FDR believe these fault structures have the potential to be conduits for various styles of hydrothermal mineralisation as evidenced by recent exploration conducted by ASX listed Rumble Resources Limited (“Rumble”) on land adjacent to the Braeside West tenement.

 

Recent exploration by Rumble along the eastern limb of the Oakover Syncline has defined a regional scale porphyry, epithermal and volcanogenic massive sulphide (“VMS”) mineralised system that extends over 60 kilometres in strike length and 8 kilometres in width within which they have identified over 40 priority Cu-Au-Zn-Pb-Ag targets. Similar prospective rock types occur within the Ripon Hills project which has had very limited past base-metal and gold exploration.

An in-depth desktop study has been initiated to better understand the prospectivity of the Ripon Hills and Braeside West projects. The objective of the study is to capture and assess all relevant geological, geophysical and geochemical data over the Ripon Hills and Braeside West project areas. Upon completion of this exercise, FDR will be able to plan the next phase of exploration over defined target areas.

The FDR management team visited Braeside West in March 2021. Encouragingly, the team was able to travel the entire length of the western margin of the tenement along existing access tracks. Whilst on site the team was able to observe outcropping geology and evidence of structural deformation potentially associated with the aforementioned north-westerly trending fault structures. FDR expect to receive the results of the in-depth desktop study which will include defined targets in the coming weeks.

 

PROJECT UPDATE – SELTA

The in-depth review of all publicly available geological, geophysical and geochemical data for the Selta Project is now complete.   Based on a review of historical datasets, four high-priority areas have been identified with the potential for uranium mineralisation as well as three areas with the potential for rare-earth element mineralisation. In addition to uranium and rare-earth element mineralisation, the review has identified the potential for lithium, gold, and base-metal mineralisation as well as the possibility of tin-tantalum-tungsten-rich pegmatites within the Selta Project. It is noteworthy that hard rock pegmatite fields elsewhere in Australia represent important sources of lithium. 

Historical exploration on the Selta Project has in general been limited. Based on the positive findings within the recently completed Review, FDR is equipped to be the first company to carry out systematic, project-wide exploration focusing on the discovery of several strategically important metals.

During the site visit the FDR management team was accompanied by Matt Stephens, the author of the in-depth review over the Selta Project. The key takeaway from the site visit was the accessibility of the project area along existing, exceptionally maintained access tracks. The Selta project covers an area of almost 1,600km2, the ability to access all three granted licences easily is of particular significance, especially when planning the next phase of exploration. Additionally, the amount of accessible outcrop was encouraging. Prior to the site visit it was hoped the Selta licence area would be underpinned by granites similar to those prevalent across the nearby Arafura Nolan’s Bore deposit. Felsic granitic intrusions were observed across the project area and, although further work is required to determine the minerology of the local geology, the presence of potentially comparable outcrop presents an intriguing target for the next phase of investigation.

 

IPO AND LISTING PROCESS

FDR is seeking a listing on the London capital markets and is working with advisors in this regard and is targeting a listing on the London capital markets in Q3 2022.

FDR EXPLORATION INTERESTS

FDR Australia holds the following exploration licence interests:

Wallal Project  (Wallal Main-E45/5816 –  390km 2  – granted), (Wallal West 1-E45/5853 96km 2  – granted) and (Wallal West 2 – E45/5880 86km 2  – granted).

A comprehensive geophysical review has identified three magnetic bullseye anomalies located under Phanerozoic sedimentary cover which are interpreted to have possible geological similarities major Au-Cu deposits within the Paterson Province including Winu (Rio Tinto) and Havieron (Newcrest Mining-Greatland Gold JV)

Braeside West Project  (E45/5854 –  137km 2  – one granted licence)

In-depth desktop analysis of historic exploration data is currently underway on the Braeside West Project. A recent base-metal discovery by neighbouring company Rumble Resources has enhanced the overall prospectively within the Braeside West Project area as it is hosted within a similar geological environment to that of Rumble Resources discovery.

Ripon Hills Project  (E45/5088 –  42km 2  – one granted licence).

The Ripon Hills Project is prospective for base-metal and gold mineralisation associated with deep-seated north-south oriented fault structures which run through the Ripon Hills Project area. In-depth desktop analysis of historic exploration data is currently underway over the project.

Selta Project (EL 32737, EL 32738, EL 32755-1,575km2-three granted licences)

The Selta Project is located in an area considered to be highly-prospective for uranium and rare earth element mineralisation. FDR recently completed an in-depth review of all geological, geophysical and geochemical data which also identified the potential for lithium, gold and base-metal mineralisation as well as the possibility of tin-tantalum-tungsten rich pegmatites.

 

For further information please visit  https://www.powermetalresources.com/  or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

 

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

 

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

 

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

Lithium, Electric Vehicles and Cadence Minerals with Kiran Morzaria on the UK Investor Magazine Podcast

Lithium, Electric Vehicles and Cadence Minerals with Kiran Morzaira

The UK Investor Magazine was thrilled to welcome, Cadence Minerals CEO, Kiran Morzaria, to the podcast for a deep dive into Lithium, Electric Vehicles and Cadence Minerals.

We drill down into the Lithium market and where Cadence Minerals sits on the global stage.

Kiran provides deep insight into the global lithium market as we explore the upcoming supply deficit set to take hold from 2025. With prices Lithium soaring, we look at the longer term projections and the dynamics of Lithium spot prices.

We analyse the current requirements of Electric Vehicle market and how companies like Cadence are working to meet these needs.

Cadence has two Lithium projects Kiran presents in detail.

We finish by touching on Cadence’s flagship Amapa Iron ore project and what investors can look forward to after Kiran’s recent trip to Brazil.

Find out more about Cadence Minerals on their website and presentation at the UK Investor Magazine Metals and Mining Conference.

#TM1 Technology Minerals – Exploration Update on the Asturmet Project

Exploration Update on the Asturmet Cu-Co-Ni Project, Asturias, NW Spain

 

Deposit characterisation sampling confirms high grade mineralisation at the underground Aramo Mine 

 

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce initial results from a due diligence lithogeochemical characterisation sampling survey at its 100% owned Aramo Copper-Cobalt-Nickel (“Cu-Co-Ni”) Project in Asturias, NW Spain. 

 

Highlights

 

· Due diligence sampling collected in November 2021 has confirmed high grade Cu-Co-Ni mineralisation at the historic Aramo mine on the St Patrick Licence

· A total of 79 samples were collected on the licence during the campaign, including 53 samples underground at the Aramo Mine on Level 3 in four historical partially stoped areas

· Field programmes are ongoing at the project with a more expansive exploration campaign planned for the St. Patrick Licence in the coming months

 

A selection of best results include:

 

Table 1: List of selected results from the characterisation sampling programme

 

SAMPLE ID

LOCATION

LEVEL

WORKING

SAMPLE_TYPE

Co_OG62  %

Cu_OG62  %

Ni_OG62  %

AES49848

Aramo Mine

Level 3

Stope B

Stope Scree

0.50

0.35

0.14

AES49852

Aramo Mine

Level 3

Stope B

Stope Scree

0.18

20.60

0.83

AES49853

Aramo Mine

Level 3

Stope B

Stope Scree

0.25

5.31

0.51

AES49855

Aramo Mine

Level 3

Stope B

Stope Scree

0.42

2.07

0.10

AES49858

Aramo Mine

Level 3

Stope B

Stope Scree

0.39

28.30

1.68

AES49860

Aramo Mine

Level 3

Stope B

Stope Scree

0.50

0.63

0.08

AES43409

Aramo Mine

Level 3

Stope B

Stope Scree

0.45

17.00

1.01

AES49896

Aramo Mine

Level 3

Stope B

Stope Scree

0.49

16.55

0.40

AES43401

Aramo Mine

Level 3

Stope C

O\C – Wall rock

1.88

13.25

1.10

AES49866

Aramo Mine

Level 3.5 

Stope A

Stope Scree

0.39

1.58

0.10

AES49869

Aramo Mine

Level 3.5 

Stope A

Stope Scree

0.50

4.27

0.14

AES49871

Aramo Mine

Level 3.5 

Stope A

Stope Scree

0.39

10.05

0.55

AES49875

Aramo Mine

Level 3.5 

Stope A

Stope Scree

0.35

5.11

0.29

AES43411

Aramo Mine

Level 3.5 

Stope A

Stope Scree

0.20

5.01

0.42

AES49838

Aramo Mine

Level 3

Loc-3

Float

0.16

>50

0.80

 

Asturmet Project

 

The Company holds 100% of the Aramo Project through its 100% wholly-owned subsidiary, LRH Resources Limited (“LRHR”), and LRHR’s 100% wholly-owned subsidiary Asturmet Recursós S.L. (“Asturmet”).

 

The Asturmet Project consists of seven exploration permits or P.I. (Permiso del Investigación): St. Patrick (P.I. 30858), St. Andrew (P.I. 30869), St. David (P.I. 30870), Astur A (P.I. 30864), Astur B (P.I. 30865), Astur C (P.I. 30866) and Astur D (P.I. 30868). The licences cover a total area of approximately 461 km2. The St Patrick licence (which covers the historic Aramo Mine), was issued to Asturmet in June 2018. The remaining licences are due to be issued imminently by the Spanish Ministry.

 

Local Geology

 

The Cu-Co-Ni Project is classed as an epithermal carbonate hosted deposit and lies within the western closure of the Cantabrian Orocline Fold and Thrust Belt.   The Aramo Mine is located within what is termed the Aramo “Caliza de Montana” stratigraphic unit comprising of organic rich limestones. Mineralisation is broadly confined to wide alteration zones with more localised east – west orientated high grade veins and stockwork mineralisation. The alteration zones, which are themselves pervasively mineralised, are interpreted to form extensive “pipe-like” bodies with significant vertical development at major fault intersection planes. These zones develop laterally outwards along individual faults creating the so called “Filon” zones. Lower angled stratigraphic bedding within the host limestones within the pipelike zones appear to create flatter zones or lenses of alteration and mineralisation with a 30-40 degree orientation dipping westwards.

 

The Aramo Mine

 

The Aramo mine was most recently in production from 1948 and ceased production in 1953. It has remained dormant for the last 69 years. The mine closed during a period of weak copper prices and a declining Dow Jones index for commodities. The mine has several mineralised zones with extensive alteration and associated Cu-Co-Ni mineralisation at a number of levels over a known vertical extent of 530-m whilst westwards, there lies a further 200-m of vertical prospective stratigraphy above the mine and to the west below the plateau.

 

Aims of the Sampling

 

The study involved accessing historical mine workings associated with the Aramo Mine at the accessible upper levels, in particular at the Level 3 elevation (1177m O.D.) to complete a mineral and alteration characterisation study, the full results of the sampling are presented in Table 2. The primary zone sampled comprised the St. Pedro Filon, a 30-40m wide (partially mined) alteration zone which dips westwards at 35-40 degrees. Three stopes within this zone were accessed and a selection of both wall rock and blasted stope piles were sampled.

 

The characterisation study aimed to collect a broad range of mineralisation and alteration types to better understand the paragenetic model for the deposit and to identify structural controls on the mineralisation. The majority of samples were collected from blasted stope material within the stopes with a selection of wall rock samples in the hanging wall and the footwall of the stoped areas where it was possible.

 

Results

 

A total of 79 samples were collected during the campaign and included 53 samples collected at the Aramo Mine on Level 3 in four different stoped areas (as reported here). A further 17 prospecting samples were also collected at locations on the plateau above the mine. These form part of a broader in-progress programme of ongoing sampling in association with characterisation of both rocks and soils for an ongoing hyperspectral remote sensing study. These results will be compiled and assimilated and reported in due course, along with the results of the Remote Sensing Study. A further seven samples comprised QAQC samples which were submitted along with the geochemical samples.

 

All samples followed a strict sampling and chain of custody process and were analysed by ALS Laboratories in Loughrea, County Galway, Ireland. Samples were analysed by four-acid ICP-AES analysis.

 

Further work

 

Field programmes are ongoing at the project with a full and more expansive exploration programme planned for the St. Patrick Licence in the coming months, which includes geological mapping and sampling, remote sensing analysis and geophysics.

 

 

Alex Stanbury, Chief Executive Officer of Technology Minerals, said: “We are pleased the initial results from our sampling survey at the historic Aramo mine within the St Patrick licence has confirmed high grade Copper-Cobalt-Nickel mineralisation.  In the coming months we plan to expand our exploration campaign which will help us continue to gain a better understanding the full potential of the project.  The Asturmet Project forms part of our wider strategy to move forward and advance multiple exploration campaigns across our portfolio of mineral resource projects focused on cobalt, copper, nickel, manganese, and lithium.”

 

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 LRHR), and a “qualified person” within the meaning of National Instrument 43-101.Vaughan Williams is also company secretary of LRHR and a Director of LRHR’s  Spanish subsidiary Asturmet.

 

The Directors of the Company accept responsibility for this announcement.

 

 

For further information please visit www.technologyminerals.co.uk , @TechnologyMinerals on Twitter, or contact:

 

Technology Minerals Plc

Alex Stanbury, Chief Executive Officer

Lester Kemp, Chief Operating Officer

Wilson Robb, Chief Technical Officer

+44 20 7618 9100

info@technologyminerals.co.uk

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

 

#TM1 Technology Minerals – Technology Minerals CEO Alex Stanbury talks on Proactive UK

 

Technology Minerals CEO Alex Stanbury talks to Katie Pilbeam on Proactive UK

Alex talks about next steps for Oacoma and Blackbird projects and exercising an option to acquire the Blackbird Creek Property in the US from DG Resource Management

#TM1 Technology Minerals – ‘Talking Batteries’ Part 2

‘Talking Batteries’ Part 2 by Robin Brundle, Chairman, Technology Minerals plc and Director, Recyclus Group + WMG’s Anwar Sattar, Lead Engineer in Battery Recycling, discussing the 5 key Lithium-ion battery chemistries and the Recyclus technology

Watch here 

#TM1 Technology Minerals – Technology Minerals Chairman Robin Brundle – Talking Batteries by Recyclus + WMG Part 1

 

Technology Minerals Plc (LSE: TM1),  the first listed UK company focused on creating a sustainable circular economy for battery metals, are supporting the agenda for COP26 very strongly and have announced WMG as a knowledge transfer partner.

WMG is an academic department at the University of Warwick and is the leading international role model for successful collaboration between academia and the public an

d private sectors, driving innovation in science, technology and engineering, to develop the brightest ideas and talent.

Technology Minerals, has collaborated with WMG for a four-year Engineer Doctor Program. Technology Minerals’ 49% owned industry leading battery recycling company – Recyclus Group will share their immense knowledge of lithium-ion and recycling batteries with WMG which will help them to teach bright young people out of university. As part of the knowledge transfer, Technology Minerals will also receive access to the laboratories in which WMG have invested £80mn over the last decade.

The collaboration is crucial as students learnings are through, researching optimising the processes at Recyclus and analysing the materials coming out of the battery so it’s good enough

to be recycled,  rather than academic research.

This collaboration will bring benefits to both Technology Minerals and WMG. As by working with companies like Recyclus not only do WMG’s researchers help to improve the UK battery industry and the capabilities of Technology Minerals and Recyclus Group but the WMG research team get to experience and work on real world problems.

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