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#TM1 Technology Minerals PLC – Innovate UK awards £1.96m for recycling system
Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that its 48.25% owned battery recycling business, Recyclus Group Ltd (“Recyclus”), in collaboration with the University of Birmingham (“UoB”), has been awarded funding of £1.96m from the UK Government’s Innovate UK, to create a mobile battery recycling system capable of safely handling any type of lithium-ion (“Li-ion”) battery.
Recyclus will lead the project and design and build a compact prototype Universal Battery Recycling System (“UBRS”), a mobile recycling truck that handles a complete range of Li-ion battery modules from all areas of industry. The main unit will be designed to accept batteries on an individual or batch-load basis and will implement a new industry standard that can benefit the UK and global recycling sectors. The Advanced Materials & Processing Laboratory (“AMPLab”) at the UoB will support the project providing leading edge 3D printing techniques, incorporating additive manufacturing for the required cutting tools.
The innovative recycling trucks will be based on Recyclus’ existing technology for industrial-scale Li-ion battery recycling, capable of safely dealing with the 5+ types of Li-ion battery chemistry, in any combination. Recyclus plans to operate the recycling trucks with three size options ranging from 7.5 to 16 tonnes which will be capable of processing between 500 and 2,000 kilogrammes per hour of Li-ion batteries.
The aim is to develop a consistent battery recycling channel which creates safe and environmentally friendly recycling of Li-ion batteries across the UK. The whole system will be completely sealed, emission free, with a gated infeed chamber and a series of sealed outfeed chutes which feeds separated materials into collection containers. The system will reduce Li-ion batteries to five recyclable products:
· Black mass, which contains lithium, manganese, cobalt and nickel
· Electrolyte
· Ferrous (steel)
· Non-ferrous (aluminium & copper)
· Light mixed fraction (plastic, rubber & paper)
According to analysis from McKinsey & Company, ‘Battery 2030: Resilient, sustainable, and circular’, global demand for Li-ion batteries could grow 30 per cent annually from 700 GWh in 2022 to around 4,700 GWh by 2030.
Kate Jermey, Business Engagement Manager (KTP) at the University of Birmingham, said: “This project will enable Recyclus Group and The University of Birmingham to respond to the current challenges around battery recycling infrastructure, and provide a viable and desperately needed solution to the issue of waste batteries, through the usage of Industry 4.0/ Additive Manufacturing Solutions to speed up systems design and deployment.”
Robin Brundle, Chairman of Technology Minerals, said: “Securing this grant from Innovate UK is a strong endorsement for Recyclus and we look forward to working with the University of Birmingham on this programme which could be the catalyst for future collaboration.
“The rapid development of consumer goods such as vapes, handhelds, e-Bikes and the general transition to electric transport is already causing serious environmental issues. The build-up of end-of-life Li-ion batteries over the coming years will create a battery waste tsunami that we need to prepare for by investing in the capabilities and capacity for large-scale battery recycling.
“The Recyclus mobile unit takes the recycling solution to the problem and will provide a reliable, cost-effective and automated process for safe and environmentally friendly recycling of Li-ion batteries across the UK. This will accelerate the recovery of the critical raw materials essential to the transition to electrification and significantly reduce the use of landfill. This innovative mobile battery recycling system will implement a new industry standard that can benefit not just the UK, but around the world.”
Innovate UK
Innovate UK, the UK’s innovation agency, drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas. It funds business and research collaborations to accelerate innovation and drive business investment into R&D. Its support is available to businesses across all economic sectors, value chains and UK regions. They help businesses grow through the development and commercialisation of new products, processes, and services.
Enquiries
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Technology Minerals Plc |
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Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
c/o +44 (0)20 4582 3500 |
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Oberon Investments Limited |
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Nick Lovering, Adam Pollock |
+44 (0)20 3179 0535 |
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Arden Partners Plc |
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Tim Dainton, Louisa Waddell |
+44 (0)20 3829 5000 |
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Gracechurch Group |
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Harry Chathli, Alexis Gore, Rebecca Scott |
+44 (0)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
Recyclus Group Ltd
The demand for the raw materials used in battery manufacturing is anticipated to substantially increase. Recyclus Group provides a national recycling initiative that supports the transition to carbon neutrality. Recyclus Group’s battery recycling capacity will prove essential in the shift from fossil fuels to electric transportation. Through its strategic support, Recyclus is an integral component to the recycling of lithium-ion and lead-acid batteries and is a significant contributor towards the circular economy of battery metals. Further information on Recyclus Group is available at www.recyclusgroup.com
#TM1 Technology Minerals Plc – Certification of ISO Standards
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 been certified as compliant with ISO standards for Quality Management (ISO 9001), Environmental Management (ISO 14001) and Health & Safety Management (ISO 45001).
The International Organization for Standardization (“ISO”) is one of the world’s leading standards-settings bodies. The Organization develops standards to ensure the quality, safety and efficiency of products, services and systems; those standards are recognised globally as the benchmark for operational excellence among leading manufacturing companies.
ISO 9001
ISO 9001 sets out the criteria for an organisation’s quality management system (QMS) and is based on foundational quality management principles, including a strong customer focus, the engagement and responsibility of senior management, process orientation and continual improvement. Recyclus demonstrates this through its procedures and processes and receipt of ISO 9001 is confirmation that customers will receive high-quality products and services.
ISO 14001
To achieve the ISO 14001 certification, defined as an environmental management system (EMS), Recyclus had to successfully demonstrate its systematic framework to ensure the immediate and long-term environmental impacts of the Company’s products and activities are measured, managed, and minimised. This certification demonstrates that Recyclus is committed to its environmental obligations and that its operations generate the lowest possible environmental impact.
ISO 45001
ISO 45001 is the world’s international standard for occupational health and safety and seeks to manage and minimise any health and safety risks associated with Recyclus operations for all stakeholders. Implemented alongside regional, national and industry-specific rules regarding workplace safety, ISO 45001 standards will help Recyclus formalise procedures to proactively improve health and safety performance, provide a safe and healthy workplace and further reduce any risk of causing irreparable harm to personnel or the business as a whole.
Recyclus are committed to creating a circular economy for battery recycling across multiple licensed plants, and these certifications are evidence of the company’s efforts to providing that. It demonstrates the growth of creating a system that is environmentally responsible, which will be upheld through its future developments.
Robin Brundle, Chairman of Technology Minerals, said: “We are delighted to have achieved ISO 9001, ISO 14001 and ISO 45001, which positions Recyclus as an industrial scale, environmentally friendly certified recycling facility for spent battery metals. These certification opens up Recyclus’ business to many companies and organisations who demand these standards from their supply chain.”
Enquiries
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Technology Minerals Plc |
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Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
c/o +44 (0)20 4582 3500 |
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Oberon Investments Limited |
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Nick Lovering, Adam Pollock |
+44 (0)20 3179 0535 |
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Arden Partners plc |
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Tim, Dainton, Louisa Waddell |
+44 (0)20 3829 5000 |
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Gracechurch Group |
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Harry Chathli, Alexis Gore, William Dobinson |
+44 (0)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
On the Vox Market Podcast, Alan Green discusses #OTMP OnTheMarket, #ROO Deliveroo and #TM1 Technology Minerals
On the Vox Market Podcast, Alan Green discusses #OTMP OnTheMarket, #ROO Deliveroo and #TM1 Technology Minerals
Listen to the podcast here
#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
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Technology Minerals Plc |
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Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
+44 20 7618 9100
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Arden Partners Plc |
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Ruari McGirr, George Morgan |
+44 207 614 5900 |
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Luther Pendragon |
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Harry Chathli, Alexis Gore, John Bick |
+44 20 7618 9100 |
#TM1 Technology Minerals – Completed Sale of 10% Interest in US Projects
Technology Minerals (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that further to its announcement on 6 May 2022, the Company has completed the sale of an initial 10 per cent interest in the Company’s registered claims in its wholly owned US cobalt/copper projects; the Blackbird Creek Project and Emperium Project (collectively “the Properties”), Lemhi County, Idaho, United States of America, to Bluebird Metals LLC (“the Buyer”) for a cash consideration of £900,000.
The sale agreement also includes a proposed option for the Buyer to acquire a further 20 per cent interest in the Properties for a further cash consideration of £1.8m. The option is exercisable within a 6-month period from the date of the signing of the detailed Purchase Agreement regarding the Proposed Sale.
Alex Stanbury, Chief Executive Officer of Technology Minerals, said: “We are delighted to complete the sale of a minority interest in our US cobalt/copper assets which is a strong endorsement of the potential of the Blackbird Creek and Emperium Projects. The agreement validates our strategy of advancing our junior mining assets up the value curve to attract partners and unlock significant potential value that can be added to the Company’s portfolio.”
Background: Blackbird and Emperium Projects
The Blackbird Creek Project is located within the Idaho Cobalt Belt (“ICB”), a 60 km long metallogenic district characterised by stratiform/tabular Co-Cu deposits. The ICB is hosted in the Mesoproterozoic Belt Supergroup (1,470 Ma and 1,370 Ma), juxtaposed between later Proterozoic (1,370 Ma) quartz monzonitic intrusions.
The Emperium Project covers approximately 55km² in east-central Idaho, making it one of the largest land positions in the Idaho Cobalt Belt. To date, there has been limited exploration conducted on the property in the form of lithogeochemical (rock) sampling, and satellite image interpretation.
Related Party Transaction
The sale and grant of option are deemed to be related party transactions for the purposes of DTR 7.3 as Chang Oh Turkmani, a beneficial owner of the Buyer, is also a Non-Executive Director of Technology Minerals Plc and beneficial owner of 55,555,556 ordinary shares amounting to 4.37% of the issued shares in the Company.
The Directors of the Company accept responsibility for this announcement.
For further information please contact:
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Technology Minerals Plc |
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Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
+44 20 7618 9100 |
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Arden Partners Plc |
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Ruari McGirr, George Morgan |
+44 207 614 5900 |
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Luther Pendragon |
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Harry Chathli, Alexis Gore, John Bick |
+44 20 7618 9100 |
#SVML Sovereign Metals – Five AIM-listed EV & Battery Metals Companies to Watch
London’s AIM has long been home to world-class junior commodities explorers and producers. As we approach what could be a multi-year commodities super-cycle, London’s junior market is anticipated to provide a hotbed of opportunities to capture any upside in metals prices.
The main driver of any potential commodities super-cycle will likely be the pursuit of Climate Change goals and the demand associated with green technologies. These technologies include renewable power generation, power storage, and electric vehicles, to name a few.
There is a growing disparity between current levels of production and demand forecasts to the extent:
- Lithium is set for a structural supply deficit for the rest of this decade
- Copper demand for the production of EVs will hit 2.9mt within a decade
- Nickel demand for use in EVs will likely outstrip supply within five years
- Graphite is likely already in a supply deficit with demand only set to increase
In this report, Kemeny Capital highlights five AIM-listed companies exploring for, or producing, battery metals.
#TM1 Technology Minerals – Appointment of Chief Financial Officer
Technology Minerals Plc (LSE: TM1), the first UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce the appointment of James Cable as a director and Chief Financial Officer (“CFO”) of the Company with immediate effect.
James has extensive experience of investment evaluation and financial transformation across several industries, including 28 years in natural resources. Qualifying as a chartered accountant at Turquands Barton Mayhew & Co (now Ernst & Young), James has curated a strong background in natural resources with international experience in mining, oil and gas, construction, and other industries. James also has a strong background in public markets including fundraising, M&A and corporate strategy.
James has held senior positions across a variety of companies, including roles as Finance Director at AIM listed Alien Metals Limited (formerly Arian Silver Corporation) followed by serving as a non-executive director, and AIM listed Kopane Diamond Developments Plc until it was acquired by AIM listed Firestone Diamonds Limited. In addition, James was previously Finance Director at Mantle Diamonds Limited, before it was acquired by ASX listed Kimberley Diamonds Limited. Early in his career, James spent more than 10 years at Mobil Oil Corporation (now ExxonMobil).
Most recently, James has held the position of director and part-time CFO at GemRock Company Limited, an exploration and mining company with assets in Mozambique, where he has been integral to the fundraise of $27 million from private investors, overseeing the financial activities and corporate governance of the company.
Robin Brundle, Chairman of Technology Minerals, said: “We are delighted to bring James on board and welcome him to the team at Technology Minerals. His considerable experience in the mining and natural resources industry as well as his vast board experience will be an asset and drive our strategic growth plans in junior mining and recycling. With a keen interest in recycling, James is enthusiastic about our twin-track strategy to create a circular economy for battery metals. We look forward to seeing James further the business as he heads up our strong accountancy team.”
James Cable, Chief Financial Officer of Technology Minerals, commented: “It is great to be joining the team at Technology Minerals and progressing their vision of a circular economy for battery metals through their junior mining and battery recycling businesses. I look forward to continuing working in the natural resource sector and furthering my knowledge of and interest in recycling as Recyclus scales up their operations.”
The following information is disclosed in accordance with Listing Rule 9.6.13.
James Cable holds or has held the following directorships in a publicly quoted company the past five years:
Past directorships
Alien Metals Limited (BVI) – AIM listed
James Cable was appointed a director of Blue Lias Technologies plc on 21 February 2017 at a time when the company was contemplating seeking admission to trading on AIM. The company was a non-trading holding company for a South African development-stage technology company. He was a director of Blue Lias Technologies plc until 9 July 2019. On 25 November 2020 a court order to wind up Blue Lias Technologies plc completed.
James Cable was a director of Blue Lias Industries Limited until 9 July 2019. The company was a wholly owned subsidiary of Blue Lias Technologies Plc and was dissolved on 27 October 2020.
James Cable was a director of Primavision Limited which was placed in creditors voluntary liquidation on 10 March 2003.
Technology Minerals confirms that there is no further information to be disclosed under the requirements of Listing Rule 9.6.13 in relation to the appointment of James Cable.
Enquiries
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Technology Minerals Plc |
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Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
+44 20 7618 9100 |
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Arden Partners Plc |
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Ruari McGirr, George Morgan |
+44 207 614 5900 |
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Luther Pendragon |
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Harry Chathli, Alexis Gore, John Bick |
+44 20 7618 9100 |
#TM1 Technology Minerals – Recyclus appoints Group Managing Director
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 appointed Matthew Taylor as Group Managing Director.
Matthew has over 40 years’ experience working in senior management roles, across a number of key industrial and manufacturing sectors in the UK, including avionics, automotive, consumer and professional power tools, power generation engineering, marine and aero engineering. He was formally General Manager at a leading UK-based specialist aerospace metals group to the international aerospace sector, where under his leadership, revenues underwent an increase of 40 per cent and gross margins were improved by 100 per cent.
He was principal consultant at Smith Kenyon Ltd, a leading business transformation specialist, for 18 years working successfully on transformation projects with leading industrial companies in the UK and internationally. Projects included operations and supply chain management, strategic evaluations, specialist procurement evaluations and strategies, business development and design and implementation of manufacturing operations.
Former roles also include a main board member at Cummins Power Generation with the brief to transform supply chain, operations and global purchasing, with plants in UK, China, India, Mexico, Singapore, USA, Germany and Romania. With global sales and distribution, Cummins Power Generation is a global manufacturer, distributor and brand leader in the international power generation engineering sector with a $2bn turnover and a division of Cummins Inc. with $6bn annualised turnover.
Matthew holds a BSc Management, Engineering, Production and Economics, MBA and is a PRINCE2 practitioner and 6 Sigma trained.
Matthew Taylor, Group Managing Director of Recyclus, said : “It’s great to formally join the team at Recyclus at such a formative stage in the company’s evolution and particularly as we enter the first growth stage of the business. The team are well versed in how the proprietary technology at play here can form such an important role in the UK battery ecosystem as we take on the lead role in the industrial scale-up in lithium-ion battery recycling. I look forward to joining the team and driving the development of solutions for battery testing and take-back recycling, with a clear focus on surpassing our customer’s needs and requirements.”
Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, said : “Matthew is well-practised in building transformational businesses in key industrial sectors and his appointment comes at a very appropriate stage for Recyclus Group. He comes to us with a very strong track record in successfully achieving his commercial goals, and his sector experience mirrors that of the main industrial sectors for Recyclus.”
Enquiries
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Technology Minerals Plc |
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Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
+44 20 7618 9100 |
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Arden Partners Plc |
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Ruari McGirr, George Morgan |
+44 207 614 5900 |
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Luther Pendragon |
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Harry Chathli, Alexis Gore, John Bick |
+44 20 7618 9100 |
#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
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SAMPLE ID |
LOCATION |
LEVEL |
WORKING |
SAMPLE_TYPE |
Co_OG62 % |
Cu_OG62 % |
Ni_OG62 % |
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AES49848 |
Aramo Mine |
Level 3 |
Stope B |
Stope Scree |
0.50 |
0.35 |
0.14 |
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AES49852 |
Aramo Mine |
Level 3 |
Stope B |
Stope Scree |
0.18 |
20.60 |
0.83 |
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AES49853 |
Aramo Mine |
Level 3 |
Stope B |
Stope Scree |
0.25 |
5.31 |
0.51 |
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AES49855 |
Aramo Mine |
Level 3 |
Stope B |
Stope Scree |
0.42 |
2.07 |
0.10 |
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AES49858 |
Aramo Mine |
Level 3 |
Stope B |
Stope Scree |
0.39 |
28.30 |
1.68 |
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AES49860 |
Aramo Mine |
Level 3 |
Stope B |
Stope Scree |
0.50 |
0.63 |
0.08 |
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AES43409 |
Aramo Mine |
Level 3 |
Stope B |
Stope Scree |
0.45 |
17.00 |
1.01 |
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AES49896 |
Aramo Mine |
Level 3 |
Stope B |
Stope Scree |
0.49 |
16.55 |
0.40 |
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AES43401 |
Aramo Mine |
Level 3 |
Stope C |
O\C – Wall rock |
1.88 |
13.25 |
1.10 |
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AES49866 |
Aramo Mine |
Level 3.5 |
Stope A |
Stope Scree |
0.39 |
1.58 |
0.10 |
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AES49869 |
Aramo Mine |
Level 3.5 |
Stope A |
Stope Scree |
0.50 |
4.27 |
0.14 |
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AES49871 |
Aramo Mine |
Level 3.5 |
Stope A |
Stope Scree |
0.39 |
10.05 |
0.55 |
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AES49875 |
Aramo Mine |
Level 3.5 |
Stope A |
Stope Scree |
0.35 |
5.11 |
0.29 |
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AES43411 |
Aramo Mine |
Level 3.5 |
Stope A |
Stope Scree |
0.20 |
5.01 |
0.42 |
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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:
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Technology Minerals Plc |
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Alex Stanbury, Chief Executive Officer Lester Kemp, Chief Operating Officer Wilson Robb, Chief Technical Officer |
+44 20 7618 9100 |
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Arden Partners Plc |
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Ruari McGirr, George Morgan |
+44 207 614 5900 |
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Luther Pendragon |
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Harry Chathli, Alexis Gore, John Bick |
+44 20 7618 9100 |
