Global Lithium (ASX:GL1) has increased the resource at its Manna Lithium Project by 43%, totalling 51.6 million tonnes at 1% lithium oxide.
The new resource estimate will be included in the ongoing Definitive Feasibility Study (DFS), which is expected to be released this year.
Global Lithium, which has a market capitalisation of $80.68 million, says the estimate is a 26% increase in total contained lithium oxide, from 406,000 tonnes to 515,000 tonnes of lithium.
Further, the upgrade represents a 63% increase in the indicated category to 32.9 million tonnes at 1.04% lithium oxide.
Managing Director Ron Mitchell says the boost is “a great outcome” as the company continues to advance its geological understanding of Manna.
“This growing resource demonstrates that Manna has potential to become one of the most important near-term lithium development projects in Western Australia, a proven low-risk mining jurisdiction,” he says.
“This mineral resource upgrade will be included in the mine schedule and planning for the Manna DFS which is now well advanced. Coupled with the positive technical results in relation to our commercial scale ore sorting trials and ongoing metallurgical testwork, our confidence in the robustness of the Manna deposit has grown.”
Mitchell adds that the team is now focused on executing several parallel project related activities, including completing material project approvals, its 2024 exploration campaign, and concluding the DFS.
The Manna Project is an outcropping pegmatite exploration project located 100km east of Kalgoorlie, Western Australia.
Global Lithium is a diversified Western Australian-focused explorer with several assets in key lithium-branded jurisdictions.
Write to Aaliyah Rogan at Mining.com.au
Images: Global Lithium
