Image: Henri Koskinen/adobe.stock.come
When Global Lithium Resources announced a a 43 per cent resource increase for its Manna lithium deposit in June, it solidified the project as a truly world-class asset.
This took Manna’s mineral resource estimate (MRE) to 51.6 million tonnes (Mt) at one per cent lithium oxide, within arm’s reach of Mineral Resources’ (MinRes) 60.5Mt Mt Marion lithium operation located just down the road.
Manna now well and truly trumps MinRes’ 26.5Mt Bald Hill mine for size, which is an operating lithium asset.
Global Lithium managing director Ron Mitchell used his presentation at Diggers and Dealers this week to speak about how the MRE increase makes Manna the second largest lithium resource in the Kalgoorlie lithium province.
“We did only list in May 2021, it’s been quite a ride,” Mitchell said of the company’s robust financial position with $27 million in the bank as of June’s end. This ensures the project is fully funded through the final investment decision and beyond.
“We are really prudent on our spend given the current market conditions,” he said.
The Manna project, located approximately 100km east of Kalgoorlie, has shown remarkable progress over two-and-a-half years of drilling, with significantly more geological confidence in the asset.
The metallurgical testwork predicts lithium recovery rates between 75 per cent and 78 per cent, confirming the project’s viability.
“In my 14 years in the lithium sector, I’ve come across a lot of lithium projects, and not a lot are spodumene-dominant,” Mitchell said.
“It (Manna) is infrastructure rich, (and) there’s an operating railway line about eight kilometres south of the project site.”
Global Lithium is working with authorities at the Port of Esperance to utilise the railway line, which offers the Manna project significant logistical advantages, reducing transportation costs and emissions.
The company is also focused on community and environmental initiatives, working closely with Traditional Owner group, the Kakarra people, to finalise a native title mining agreement.
The Manna definitive feasibility study (DFS) is nearing completion and expected by the end of the year.
“The next six months are going to be crucial for us,” Mitchell said, highlighting the ongoing metallurgical testwork and upcoming announcements regarding the DFS, mineral reserves and project approvals.
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