EXPLORATION & DEVELOPMENT

Global Lithium flags larger lithium resource at Marble Bar

GLOBAL Lithium Resources has reported promising drill intercepts grading more than 2% lithium from the Marble Bar exploration project in Western Australia.

Lithium drilling near Marble Bar going well for Global Lithium

Lithium drilling near Marble Bar going well for Global Lithium

Of particular note was 4m grading 2.2% lithium recorded between the Archer deposit and Brockman Zone.

Global Lithium also pointed to "several significant intercepts in the area extending south-east from Archer towards the Moolyella tin field", with 10m at 0.64% lithium from 11m reported.

"The significance of spodumene located within this part of the project demonstrates that the system is larger than originally thought and the company intends to follow up on these targets throughout calendar 2022," Global Lithium said.

The company also owns 80% of the Manna lithium exploration project east of Kalgoorlie, with the two exploration projects containing total inferred resources of 18.4 million tonnes grading 1.06% lithium.

Global Lithium raised A$30 million in March when issuing new shares priced at $1.35 each.

Shares in Global Lithium were up 1.5% to $2.05 in afternoon trade, capitalising the company at $411 million.

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