Phase 1 drill program now underway at the Knockeen Prospect. Initial drilling has recorded multiple pegmatite intercepts in the first holes, which are currently being processed and analyzed. 

The Leinster Lithium Project, located south of Dublin in the counties of Wicklow and South Carlow in the Republic of Ireland, is a promising lithium pegmatite project consisting of 16 prospecting license areas situated adjacent to the joint Ganfeng Lithium / International Lithium Corporation Blackstairs Lithium Project. The property covers approximately 525 km² along and adjacent to the East Carlow Deformation Zone (ECDZ) which is recognised as a major controlling structure to pegmatite emplacement. The Project’s drill program, currently underway at the Knockeen Prospect, is permitted for up to 10 drill holes. 

Exploration activities have confirmed expansive lithium mineralization across a number of Project areas, with assay results of 66 rock samples released by ALS Laboratories earlier this year returning Li₂O% lithium contents ranging up to 3.75 % Li₂O / 17,410 ppm Li.

• 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))

• 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))

Global Battery Metals is set to increase Project equity interests to 55% with its second property option exercise, and has given notice that it will also pursue the third and final option for a 90% earn-in-stake. 

1. Option 1 - To earn 17.5% - spend EUR88,000 by Oct 2022 and up to EUR7,500 for licence fees etc.  The vendor has undertaken to speak to regulator to waive/extend the time frame for these payments.  There are no payments to the vendor at this stage. Status: fully paid and the option has been exercised.
2. Option 2 - To earn 37.5% to get to 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).  Status: the option has been exercised and final payment is in progress.  
3. Option 3 – to earn 35% to get 90% - spend EUR1,000,000 and pay EUR200,000 (90% can be stock, at GBML’s discretion) within two years of above. Status: notice has been given of intent to pursue.
4. Project subject to a 2% royalty, 1% can be bought back for EUR1,000,000.

Field Exploration Program

PLA 1597 forms part of the Company’s Property exploration block, which is operated under an exclusive Option and Earn-in agreement with Technology Minerals Plc (LSE: TM1), the first-listed UK company focused on creating a sustainable circular economy for battery metals, and its wholly owned subsidiary LRH Resources Limited (“LRH”).

The current phase of detailed exploration work is centred on an area where a forty-year-old historical company report¹ described a trench excavated at Knockeen Townlands on PLA 1597 which, uncovered in bedrock, exposed 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 program carried out under LRH management by Aurum Exploration Services Limited included an initial reconnaissance visit in July 2022 totalling six samples. This was followed by a more detailed prospecting and lithogeochemical survey on two areas at Knockeen and Carriglead Townlands in December 2022 and totalling 66 samples (Table 1 and Table 2).

In December 2022 an extensive prospecting and lithogeochemistry survey was completed covering the two areas identified during the reconnaissance program. 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. 

December 2022 Sampling Program Highlights

Table 1: Highlight results from the prospecting program (December 2022)
* Li₂O % = Li ppm % (x 2.153)

Table 2: Results from reconnaissance prospecting (July 2022 and December 2022)

Reconnaissance July 2022

Two areas at Knockeen and Carriglead Townlands were targeted with an initial reconnaissance visit in July 2022, during which six samples - four at Knockeen and two at Carriglead - were collected. Analytical results confirmed the presence of the historically reported spodumene pegmatite boulder train and returned very significant grades of Li₂O in all the samples. These results have been reported previously but are reproduced here for continuity (Table 3).

Table 3: Results from reconnaissance prospecting (July 2022)
* Li₂O % = Li ppm % (x 2.153)