Global Lithium Resources (ASX: GL1) has released a maiden JORC-compliant Mineral Resource Estimate at the Manna Lithium Project near Kalgoorlie, Western Australia, just seven weeks after acquiring an 80% stake in lithium rights at the project.
The Inferred resource, which was reported at 9.9 Mt @ 1.14% Li2O and 49 Ta2O5 ppm (100% basis), has nearly doubled Global Lithium’s overall lithium resource across its Marble Bar and Manna projects.
Addressing the update, Global Lithium Chair Warrick Hazeldine said: “This highly encouraging result supports GL1’s decision to acquire an 80% stake in the Manna Lithium Project in December 2021, giving the Company its second asset in a Tier 1 jurisdiction. The ability to declare this Mineral Resource estimate at such an early stage in the Company’s ownership grows our confidence in the Project ahead of a major targeting and drilling program, which is currently being planned.”
“The ability to declare this Mineral Resource estimate at such an early stage in the Company’s ownership grows our confidence in the Project”
Exploration Manager Bryan Bourke added: “This result builds further momentum for GL1 as we rapidly advance our first asset – the highly prospective Marble Bar Lithium Project in the Pilbara. We will carry out significant exploration programs at both sites in 2022 in parallel with a surging global lithium market that we plan to supply in the coming years.
Across our two project areas, whilst early days, this result from Manna nearly doubles GL1’s overall position in terms of its mineral resources – a huge achievement for a company that only listed on the ASX in May last year.”
The Mineral Resource was defined following 3,636m of drilling at ‘relatively shallow’ depths, comprising 21 RC holes for 3,354m, along with four diamond holes for 282.15m. This is set to be followed by a further 20,000m of drilling, with mineralisation currently open in all directions.
Plan view of the Manna Lithium Project displaying significant drillhole intersections and outcropping pegmatites at Manna 1Manna was discovered by Breaker Resources (ASX:BRB) in 2018, and is classified as an outcropping pegmatite exploration project. The project encompasses an area of influence of 750m by 130m in the main outcrop, with individual pegmatite dykes drill intersections of up to 17m. The company reports that drilling 350m south of the main outcrop has identified spodumene-rich pegmatites.
Images: Global Lithium Resources Limited
