Exploration/Development, Lithium, News, Production

This MinRes-backed miner just had a lithium breakthrough

Global Lithium

Global Lithium Resources (GLR) has significantly boosted its lithium recovery grade, as the miner works to develop two promising and wholly owned lithium mines in WA. 

GLR has two prospective lithium projects under its belt: the Marble Bar project, which sits between Port Hedland and Newman, and the Manna project in Kalgoorlie.

Just yesterday, the company improved its lithium recovery grade by 27 per cent at Manna as part of a spodumene ore concentrate (SOC) strategy, to generate early income for the project.

First ore sorting improved the lithium grade to 1.75 per cent lithium oxide, successfully removing over 90 per cent of the contained iron in the ore.

Follow-up testing maintained a consistent 1.64 per cent grade with an overall lithium recovery of 89 per cent.

GLR project director Tony Chamberlain said the high-grade SOC will be a very attractive product for potential offtake partners.

“Both trials have demonstrated that the Manna pegmatite ore body is highly suited to ore sorting,” Chamberlain said.

“This work will unlock further value for the Manna Project through potential early production of a SOC product and increase spodumene production for the main concentrator.”

The miner first floated on the ASX in early 2021 and has since built itself a comfortable market cap of $402 million. This includes a sizeable equity injection from Mineral Resources (MinRes), which bought up a 9.6 per cent stake in the company late last year. This made MinRes GLR’s equal largest shareholder tied with China’s Canmax Technologies.

What’s next for GLR?

Roughly 50,000m of drilling is underway at the Manna project, which has a current mineral resource estimate of 36.0Mt at 1.13 per cent lithium oxide.

A definitive feasibility study for the Manna project is due in the first quarter of 2024, with construction to kick off midway through the year.

The miner also wholly owns the Marble Bar project, which holds an inferred 18.0Mt resource at 1.0 per cent lithium oxide. The site is also prospective for gold and base metal targets, which are set for testing in 2023.

The two 100 per cent owned projects boast a combined resource of 54 million tonnes (Mt) at 1.09 per cent, with both projects conveniently close to major infrastructure.

The projects count for two of only 14 Joint Ore Reserves Committee (JORC) compliant lithium resources in Australia listed on the ASX.

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