Australia-based Green Technology Metals Limited (GT1), a Canadian-focused multi-asset lithium business, signed a binding option agreement to purchase an 80% interest in the Junior Lake Project from Landore Resources Canada, which comprises 591 staked mineral claims on 10,856 Hectares (109km²) of tenure located adjacent to the Flagship Seymour Project (Seymour) in Ontario, Canada.

The tenements are located immediately adjacent (approximately 22km) from the company’s flagship Seymour project in Ontario. The Junior Lake Project is host to three drill-ready LCT pegmatite prospects, identified from previous exploration, indicating the project’s lithium potential. LCT pegmatites are complex pegmatites characterized by anomalous accumulations of lithium, caesium, tantalum, rubidium, beryllium, tin, barium, phosphorus, and fluorine.

We are excited to secure the agreement with Landore, adding a sizeable tenement package to our portfolio and look forward to commencing exploration on the Junior Lake Project which offers the company a unique combination of a close proximity location, identified targets through previous regional exploration and early indications of similar geology to our flagship 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.

—GT1 CEO Luke Cox

The Junior Lake Project, currently 100% owned by Landore, consists of 33,029 hectares, including 10,856 hectares relating to Lithium tenure. The project is located approximately 235 kilometers north-northeast of Thunder Bay and 75km east-northeast from the town of Armstrong and easily accessible via Jackfish Highway which connects the Seymour, Falcon and Junior Lake project areas.

Junior Lake is host to several LCT pegmatites with three previously identified target areas; Despard, Swole Lake and Tape Lake, all presenting similar geology to Seymour based on the lithium exploration undertaken to date.

GT1 owns a sizeable portfolio of lithium exploration claims located across highly prospective Archaen Greenstone belts in north-west Ontario, including the Seymour Project. The company is strategically focused on rapidly advancing both the Seymour and Root projects into production, to become the first lithium producer in Ontario.

The Junior Lake Project’s being proximal to Seymour and adjacent to GT1’s proximal lithium claim Falcon Lake, presents an opportunity to secure additional feedstock for a lithium concentrate plant at Seymour and fits within the broader strategic objective to become a leading lithium focused near-term producer.

The option agreement increases the company’s footprint across the prospective Caribou Lake – O’Sullivan greenstone belt and offers the potential for GT1 to make new lithium discoveries with Junior Lake host to multiple LCT pegmatites at surface, confirmed by historical exploration activities on the property and drill ready targets presenting similar geology to Seymour.

GT1 plans to undertake a two-phase exploration program at the Junior Lake Property commencing in June 2023. Phase one exploration will initially consist of geological mapping and sampling of the Despard and Swole target areas to identify additional drill targets at the property and will be followed by a phase two maiden 1200m diamond drilling program initially focusing on the Despard target area. The two-phase program is anticipated to be completed by Q4 2023.

Concurrently with the exploration program at Junior Lake, GT1 will be undertaking an exploration program that will include geological mapping of the North Seymour and Falcon project areas.