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Tuesday, September 21, 2021

Leinster Lithium Project; the Rise of Global Battery Metals Ltd (CVE: GBML)(OTCMKTS: REZZF)

Global Battery Metals Ltd (CVE: GBML)(OTCMKTS: REZZF) has been getting noticed by investors and is moving northbound in recent trading on a massive surge of volume after the Company reported its BOD approved an initial drill program at the North-West Leinster Lithium Project in Ireland. 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 15 prospecting licenses termed the North-west Leinster Block which covers a total area of 477.39 km2. The NW Leinster Project is located at the north-east end of the East Carlow Deformation Zone (ECDZ) with licenses also located to the north of this zone in interpreted similar structural settings. The Aclare deposit (part of International Lithium Corp – Ganfeng Lithium Co. Ltd JV’s Avalonia Project) reportedly comprises of a 20m wide spodumene pegmatite zone with a historical resource estimate of 570,00 tonnes grading 1.5% Li20. The strike length of the primary target zone is approximately 550m with best intersections of 2.23% Li20 over 23.3m including 3.43% Li20 over 6m. 

The demand for lithium is growin exponentially; according to Vinneth Bajaj, a senior mining analyst for GlobalData: “Lithium metal production is expected to reach 134,700 tonnes versus 58,800 tonnes in 2020. This follows a significant 18.2% decline in 2019 to 78,200 tonnes, resulting from sluggish global EV [electric vehicle] sales and a steep fall in prices, which, in turn, encouraged reduced production levels.” Lithium demand, the mining analyst said, will be driven by a surge in EV sales, with annual production expected to surge from 3.4 million vehicles in 2020 to 12.7 million in 2024, and a corresponding surge in lithium-ion battery production, which is forecast to rise from 95.3 gigawatt-hours (GWh) in 2020 to 410.5 GWh over the same period. According to marketwatch: the Global Lithium-Ion Battery Recycling Market is valued at USD 8.81 Billion in 2020 and expected to reach USD 14.34 Billion by 2027 with the CAGR of 7.20% over the forecast period. 

Global Battery Metals Ltd (CVE: GBML)(OTCMKTS: REZZF) 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. The Company has been successfully raising money recently reporting due to the high level of interest, it has increased the size of its non-brokered private placement, as originally announced on October 21, 2020, to now raise aggregate gross proceeds of $1,050,000 through the sale of 10,500,000 units at a price of $0.10 per Unit.  

On January 21 GBML announced its BOD approved an initial drill program at the North-West Leinster Lithium Project (“NW Leinster Project”) in Ireland. 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 licenses termed the North-west Leinster Block which covers a total area of 477.39 km2. The prospecting licenses 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% (details below). 

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The NW Leinster Project is located at the north-east end of the East Carlow Deformation Zone (ECDZ) with licenses also located to the north of this zone in interpreted similar structural settings. To the immediate south-east, a 55km long zone of discrete lithium-bearing pegmatites and aplitescentred on the Aclare deposit was discovered during 1960s and 1970s near the contact of the Tullow Lowlands granite pluton with the Lower Palaeozoic metasediments which are considered genetically as well as spatially related to the ECDZ. The Aclare deposit (part of International Lithium Corp – Ganfeng Lithium Co. Ltd JV’s Avalonia Project) reportedly comprises of a 20m wide spodumene pegmatite zone with a historical resource estimate of 570,00 tonnes grading 1.5% Li20. The strike length of the primary target zone is approximately 550m with best intersections of 2.23% Li20 over 23.3m including 3.43% Li20 over 6m. 

GBML can earn up to 90% in the NW Leinster, 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) within two years of above. Project subject to a 2% royalty, 1% can be bought back for EUR1,000,000. 

Highlights of 2021 Drill Program at NW Leinster 

  • Initial drill program to target the Aghavannagh area with three holes totalling 450 metres.
    Previous work at Aghavannagh located 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.
  • NW Leinster located within 20km of property being drilled by, Chinese lithium company, Ganfeng Lithium Co. Ltd.
  • Government stream sample survey confirms the presence of anomalous lithium on surface at the property (see Figure 1) and confirmed with our previous sampling.
  • Application initiated with Exploration and Mining Division (EMD) and Quilchena (crown corporation focusing on forestry) with approvals expected within 6-8 weeks.
  • Drill targets are easily accessed via logging roads, and within 50km of Dublin, 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 Aghavanngh target with our initial drill program. The target areas are near the Avalonia project, where Ganfeng and International Lithium have previously drilled high-grade pegmatite (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.” 

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Global Battery Metals Ltd (CVE: GBML)(OTCMKTS: REZZF) has been getting noticed by investors and is moving northbound in recent trading on a massive surge of volume after the Company reported its BOD approved an initial drill program at the North-West Leinster Lithium Project in Ireland. 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 15 prospecting licenses termed the North-west Leinster Block which covers a total area of 477.39 km2. The NW Leinster Project is located at the north-east end of the East Carlow Deformation Zone (ECDZ) with licenses also located to the north of this zone in interpreted similar structural settings. The Aclare deposit (part of International Lithium Corp – Ganfeng Lithium Co. Ltd JV’s Avalonia Project) reportedly comprises of a 20m wide spodumene pegmatite zone with a historical resource estimate of 570,00 tonnes grading 1.5% Li20. The strike length of the primary target zone is approximately 550m with best intersections of 2.23% Li20 over 23.3m including 3.43% Li20 over 6m.  The demand for lithium is growin exponentially; according to Vinneth Bajaj, a senior mining analyst for GlobalData: “Lithium metal production is expected to reach 134,700 tonnes versus 58,800 tonnes in 2020. This follows a significant 18.2% decline in 2019 to 78,200 tonnes, resulting from sluggish global EV [electric vehicle] sales and a steep fall in prices, which, in turn, encouraged reduced production levels.” Lithium demand, the mining analyst said, will be driven by a surge in EV sales, with annual production expected to surge from 3.4 million vehicles in 2020 to 12.7 million in 2024, and a corresponding surge in lithium-ion battery production, which is forecast to rise from 95.3 gigawatt-hours (GWh) in 2020 to 410.5 GWh over the same period. According to marketwatch: the Global Lithium-Ion Battery Recycling Market is valued at USD 8.81 Billion in 2020 and expected to reach USD 14.34 Billion by 2027 with the CAGR of 7.20% over the forecast period. We will be updating on Global Battery Metals  when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with the stock.

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Disclosure: we hold no position in Global Battery Metals either long or short and we have not been compensated for this article.

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