Green Technology Metals Secures Canadian Government Backing for Seymour Lithium Project
Green Technology Metals has received a letter of interest from Export Development Canada (EDC) for potential project financing of up to C$100 million for the Seymour lithium project in Ontario. This marks a significant milestone for the development of what could become the first lithium mine in Ontario and the second in Canada.
Seymour hosts a JORC 2012 resource of 10.3 million tonnes at 1.03% Li2O, and when combined with the nearby Root project, Green Technology Metals’ portfolio totals 24.9 million tonnes at 1.13% Li2O. Recent drilling at the Despard prospect, 20 kilometers east of Seymour, has further bolstered the project’s potential, returning high-grade results.
The EDC, a crown corporation owned by the Government of Canada, specializes in financial support for Canadian exporters. The potential funding package would complement C$5.47 million ($6.05 million) already secured in government infrastructure funding for road and bridge upgrades, as well as strong interest from global commercial lenders. This diversified financing framework strengthens the project’s role in Canada’s critical minerals strategy.
Key Milestones Ahead
The EDC’s financing support is subject to rigorous due diligence, including environmental and social reviews, necessary internal approvals, and adherence to project finance conditions. Green Technology Metals anticipates an investment decision for Seymour in early 2025, following the completion of a definitive feasibility study and required permitting.
“This marks the first step in our financing strategy for the Seymour project,” said Cameron Henry, managing director of Green Technology Metals. “EDC’s support highlights the project’s significance to Canada’s critical minerals strategy and provides access to low-cost, non-dilutive funding options.”
The company remains engaged with global lenders and continues Indigenous consultations as part of its broader development strategy. Recent drilling results from the Junior lithium project, acquired in 2023, also underscore Seymour’s long-term potential, with a best intercept of 18.7 meters at 1.39% Li2O from just 8 meters deep at the Despard prospect.
With strong government backing and advancing project development, Green Technology Metals aims to establish Seymour as Ontario’s first lithium producer, contributing to Canada’s clean energy and critical minerals ambitions.
