The Mineral Resources-backed company has spent the past year drilling up its Archer and Manna deposits and, based on a cut-off of grades of 0.45% and 0.6% respectively, now claims total open pittable resources that are up 148.5% at 50.7 million tonnes grading 1%.

 

Specifically, Manna's endowment has risen 230% to 32.7Mt at 1%, while Marble Bar is 71% larger at 18Mt at 1%.

 

A further resource boost is expected at Manna next year incorporating an additional 20,000m of drilling.

 

Manna remains open in all directions.

 

Given the size and scale of Manna, which sits in the heart of WA's Eastern Goldfields, Global plans 35,000m of infill and extensional drilling next year, even as it starts scoping and feasibility studies as it races to leap from explorer to producer.

 

While Manna is in pole position, the geology team has increased the prospective strike at Marble Bar from 15km to 25km, and a further 20,000m of drilling and additional large-scale geochemical surveys are being planned.

 

The project, just 120km from Port Hedland, now contains four additional prospective pegmatite corridors, each described as being as large as the original Archer pegmatite corridor where all drilling has been focused so far.

 

Managing director Ron Mitchell said the results of nearly 85,000m of drilling completed in 2022 were "game-changing", delivering a "compelling base to progress scoping and feasibility studies".

 

Having just paid A$60 million for Breaker Resources' 20% interest in Manna, after buying its initial 80% for $33 million in late 2021, Mitchell said the company had "maximum control and flexibility" to expedite the studies.

 

The scoping study is due for release in the March quarter of 2023. 

 

Global recently raised some $121 million at $2.25 per share through a share purchase plan and placement and has about $70 million cash remaining.

 

In addition to MinRes, which helpfully owns the Mt Marion and Wodgina operations near both Global's deposits, Suzhou TA&A Ultra Clean Technology is also a major shareholder. 

 

Suzhou is the controlling shareholder in China-based battery giant Yibin Tianyi. Each own 9.9%.

 

South Korean electric vehicle battery maker, SK On, is also in the mix as a potential offtake and downstream partner.

 

Global listed in mid-2021 and has seen a tenfold boost in its share price since, to almost $3 earlier this year.

 

The stock was up almost 9% in early trade to $2.19, capitalising it at $550 million.

 

The shares were 60c a year ago.