Global Battery Metals Outlines Drilling Program for North-West Leinster Lithium Project in Ireland
January 21, 2021
January 21, 2021, Vancouver, British Columbia – Global Battery Metals Ltd. (the “Company” or “GBML”) (TSXV: GBML; OTC: REZZF; Frankfurt: REZ) is pleased to announce that its Board of Directors has approved an initial drill program at the North-West Leinster Lithium Project (“NW Leinster Project”) in Ireland.
“We are very excited to begin drilling our North-West Leinster Lithium Project in Ireland,” stated Michael Murphy, President & CEO. “We have identified four high-priority targets and will test the Aghavannagh target with our initial drill program. The target areas are along the same lithium pegmatite trend as the Avalonia project, where Ganfeng Lithium Co. Ltd. and International Lithium Corporation have previously drilled high-grade lithium pegmatite at Aclare and Moylisha (see below). With $1.4 million in our treasury, and a drill budget of up to $150,000, we are fully funded to rapidly advance lithium exploration activities at North-West Leinster.”
Highlights of the 2021 Drill Program at NW Leinster
Initial drill program to target the Aghavannagh target with three holes totalling 450 metres.
Previous work at Aghavannagh discovered pegmatite float at the granite/metasediment contact containing visible spodumene that returned a value of 8,280 ppm Li (1.78% Li2O). Details of this work can be found in the Jan.19, 2019 Press Release.
Follow up base of deep overburden sampling and ground magnetics provided further focus to the target zone.
The NW Leinster Aghavannagh drill target is located within 20km of the Moylisha property and 30km of the Aclare projects being drilled by US$2.5B market cap., Chinese lithium company, Ganfeng Lithium Co. Ltd., in association with International Lithium Corporation.
An historical Geological Survey of Ireland regional stream sediment sample survey confirmed the presence of multiple anomalous lithium targets on the NW Leinster property (see Figure 1) providing numerous targets for future work.
The regional survey data highlights relatively higher tenor regional anomalism in the northern NWL area which provided the focus of the LRHR \ GBML licence block acquisition and subsequent exploration.
Applications initiated with the Governments Exploration and Mining Division (EMD) and Coillte (Irish State commercial forestry) with approvals expected within 6-8 weeks.
Drill targets are easily accessed via logging roads, and within 50km of Dublin, Ireland.
About North-West Leinster Lithium Project
The NW Leinster Project is focused on the exploration for lithium mineralization (spodumene pegmatites) in the north of the Leinster Massif in south-east Ireland. The project area is covered by fifteen (15) prospecting licences termed the North-west Leinster Block which covers a total area of 477.4 km2. The prospecting licences were granted to LRH Resources Limited in October 2018 and are valid for an initial period of six-years from that date. GBML has an option agreement to earn 90%.
The Aghavannagh target is located on prospecting licence 4541 towards the north-eastern end of the East Carlow Deformation Zone (ECDZ) which passes along the SE margin of the Leinster Granite Massif and with which regional pegmatite development is interpreted to be spatially and genetically related.
The licence block also extends to the north of this licence into areas with similar geological settings and anomalous lithium geochemistry.
The GBML property exhibits a comparable structural and stratigraphic setting to the International Lithium Corp. – Ganfeng Lithium Co. Ltd JV’s Avalonia Project which lies between 20km (Moylisha) and 30 km (Aclare) along strike to the south west forming a semi-continuous zone of discrete lithium-bearing pegmatites and aplites. The Aclare pegmatites were discovered during the 1970s and reportedly comprise of a 20m wide spodumene pegmatite zone with a historical (and at that time non-JORC compliant) resource estimate of 570,000 tonnes grading 1.5% Li20. The strike length of the Aclare target zone is reported as 550m with best intersections of 2.23% Li20 over 23.3m including 3.43% Li20 over 6m drill width.*
GBML can earn up to 90% in the NW Leinster Project, with the following option earn-in:
To earn 17.5% - spend EUR88,000 by Oct 2022 and up to EUR7,500 for licence fees etc. There are no payments to the vendor at this stage.
To earn 55%, within 2 years of the above or 4 years from Oct 2020, spend EUR500,000 on the property and pay EUR50,000 to vendor (90% can be paid in stock at GBML’s discretion).
To earn 90% - spend EUR1,000,000 and pay EUR200,000 (90% can be stock, at GBML’s discretion) with in two years of above, or 6.5 years from now.
Project subject to a 2% royalty, 1% can be bought back for EUR1,000,000.
*Reference: Press Release, International Lithium Corp. Begins Reconnaissance Program and Renames Blackstairs Lithium Project, Ireland, September 17, 2014 (https://www.internationallithium.com/international-lithium-corp-begins-reconnaissance-program-and-renames-blackstairs-lithium-project-ireland/)
Figure 1: Government of Ireland Lithium Survey and Claim Map (NWL in Blue outlines, Avalonia in Red)
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements and has been reviewed and approved by Vaughan Williams, P. Geo., principal geologist at Aurum Exploration Services Limited and Director of LRH Resources Ltd., and a “qualified person” within the meaning of National Instrument 43-101.
About Global Battery Metals Ltd.
GBML is a mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power. GBML's common shares are listed on the TSX Venture Exchange, OTCBB and Frankfurt. GBML currently has two projects: (1) an option to acquire up to 90 per cent of the North-West Leinster lithium property in Ireland, and (2) a 55-per-cent stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara property for staged payments of $5.75 million (U.S.). GBML will retain a 0.75-per-cent net smelter royalty.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
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