- Global Lithium Resources (Gl1) has hit further intervals of lithium mineralisation at its Marble Bar project in the Pilbara region of Western Australia
- The latest results from the ongoing drilling program include up to 1.8 per cent lithium oxide and 80 parts per million tantalum oxide
- The company says the wide intervals seen from the drilling program demonstrate the robustness of the project and provide opportunities to increase its resource base
- Drilling will continue to test the extents of the known lithium mineralised pegmatites and untested outcropping lithium targets
- Shares in Global Lithium are down 6.33 per cent and trading at $1.40 as of 1:13 pm AEST
Global Lithium Resources (GL1) has delivered more “encouraging” lithium assay results from its exploration program at the Marble Bar lithium project (MBLP) in WA.
The best results from the Pilbara project include 11 metres at 1.42 per cent lithium oxide and 62 parts per million tantalum pentoxide from 25 metres and 12 metres at 0.88 per cent lithium oxide and 44ppm tantalum pentoxide from 82 metres.
Global Lithium’s Head of Geology, Stuart Peterson, said the drilling program supported the targeting efforts by the GL1 and the CSA Global geology teams and provided a strong platform for future growth.
“Our immediate exploration focus, to add shareholder value across our two assets, remains clearly defined,” Mr Peterson said.
He said this plan included the delivery of the ongoing 2022 program at the MBLP and the safe execution of a 20,000-metre drilling and exploration campaign at the Manna lithium project in WA’s Goldfields region.
“To our knowledge, we are the only lithium company to be drilling at two independent lithium project sites in the globally recognised, tier-1 lithium mining jurisdiction of Western Australia.”
The company said the majority of the MBLP drilling had been designed to test geochemical trends and mapped pegmatite targets, particularly along the greenstone belt in the area, and also several granite-hosted pegmatite targets.
According to GL1, the success of the program indicated strong potential for future growth and provided further evidence that the MBLP was continuing to emerge as a significant spodumene lithium deposit in a premier hard rock lithium mining jurisdiction.
The company confirmed it was well-funded with a cash balance of $36 million.
Shares in Global Lithium were down 6.33 per cent and trading at $1.40 as of 1:13 pm AEST.