EXPLORATION & DEVELOPMENT

Global Lithium points to Manna growth potential as drilling continues

New resource estimate next month

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Further, the company is now drilling a pegmatite area 1.2km along strike.

A resource update is due next quarter.

Manna currently has an inferred resource of 9.9 million tonnes grading 1.14% lithium oxide.

Global Lithium believes the diamond core drilling allows it to "potentially add significant tonnes to the existing resource".

The project is 80% owned by Global Lithium, with gold explorer Breaker having a 20% free carried interest.

Global Lithium had A$33 million at the end of June.

The company's other project, Marble Bar, currently has 10.5Mt at 1% lithium oxide.

Shares in Global Lithium were up 1.6% to $2.49 in morning trade, capitalising the company at $500 million.

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