Canada-focused multi-asset lithium business Green Technology Metals has signed a binding agreement for a C$500 000 option to purchase an 80% interest in the Junior Lake project from Landore Resources Canada.
The project, currently fully owned by Landore, comprises 591 staked mineral claims on 10 856 ha of tenure located 22 km adjacent to Green Technology Metals’ flagship Seymour project in Ontario.
The Junior Lake project is host to three drill-ready lithium/cesium/tantalum pegmatite prospects, identified from previous exploration, indicating the project’s lithium potential.
Green Technology Metals CEO Luke Cox says the project will add a sizeable tenement package to the company’s portfolio, and that the company looks forward to exploring the Junior Lake project.
The ASX-listed firm is strategically focused on rapidly advancing both its Seymour and Root projects through to production, to become the first lithium producer in Ontario.
He adds that the project offers the company a unique combination of a close proximity location, identified targets through previous regional exploration and early indications of similar geology to its Seymour project.
“We plan to commence exploration activities imminently at Junior Lake as we look to grow our resource base for greater Seymour and move swiftly into development,” says Cox.
Green Technology Metals is preparing for summer mapping and an initial 1 200 m drilling programme that will start in the third quarter of this year.
The project is located about 235 km north-northeast of Thunder Bay and 75 km east-northeast from the town of Armstrong and easily accessible through the Jackfish Highway which connects the Seymour, Falcon and Junior Lake project areas.