EXPLORATION & DEVELOPMENT

Global Lithium points to Manna growth potential as drilling continues

GLOBAL Lithium could add resources to its Manna deposit east of Kalgoorlie with diamond core drilling recording 5.7m grading 1.82% lithium oxide from 136.7m and potential extensions below the resource also in the frame.

Global Lithium points to Manna growth potential as drilling continues

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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