Global Battery Metals Ltd., a critical mineral exploration company focused on growth-oriented lithium and battery metal projects, has announced that it has secured its drill permit for the Leinster Lithium Project (the “Project“) through a Government approved “Appropriate Assessment Screening Determination” issued by the Department of the Environment, Climate and Communications. This permit gives the go-ahead for the commencement of the planned drill program and the Company anticipates having a drill team mobilized within the coming weeks. The Company also announces a non-brokered private placement financing to raise aggregate proceeds of up to $1,000,000.
The permit approves for up to 10 drill holes over a multi-stage diamond core drilling program that will target an area of an historically reported trenched bedrock occurrence coincident with several highly anomalous LCT Pegmatite (lithium-cesium-tantalum) pegmatite geochemical trends. This, when considered in association with a broad spodumene pegmatite boulder train at surface, is interpreted to indicate up to six potential dikes extending across a prospective lithium trend on Prospecting Licence Area 1597 (the “Knockeen Prospect”).
“The need to identify viable sources of domestic European lithium across geopolitically-friendly jurisdictions continues to drive commercial interest among key European industry participants,” said Michael Murphy, CEO of Global Battery Metals. “We are excited to be moving forward with an expanded drill program in Leinster. In its Critical Raw Materials Act (CRMA), the EU has put a number of goals forward to help secure lithium and other materials deemed essential to meeting Europe’s future electrification and sustainability transition targets. We believe the Leinster Project will be a future contributor in this regard.”