Bekanntmachung • Apr 24
Global Lithium Resources Limited announced that it expects to receive AUD 7.317959 million in funding from Jiangsu Lopal Tech. Group Co., Ltd. Global Lithium Resources Limited announced that it has executed a Binding Term Sheet with Jiangsu Lopal Tech. Group Co., Ltd for the issuance of 13,840,111 fully paid ordinary shares at an issue price of AUD 0.52875 per share for gross proceeds of AUD 7,317,958.69125 on April 22, 2026. The Placement is conditional only on obtaining any necessary regulatory approvals and will be completed utilising the Company’s existing placement capacity under ASX Listing Rule 7.1A. The issue price is based on the 20-day volume weighted average market price up to, and including, April 20, 2026. Following the issue of the Placement Shares, Lopal will hold approximately 5% of Company’s issued capital. The shares will rank equally with existing fully paid ordinary shares. New Risk • Apr 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 40% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 40% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$8.5m net loss in 3 years). Revenue is less than US$5m (AU$2.4m revenue, or US$1.7m). Market cap is less than US$100m (AU$139.4m market cap, or US$98.8m). New Risk • Apr 08
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: AU$40k Forecast net loss in 3 years: AU$431k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$431k net loss in 3 years). Revenue is less than US$5m (AU$2.4m revenue, or US$1.7m). Market cap is less than US$100m (AU$131.5m market cap, or US$92.6m). Price Target Changed • Mar 31
Price target increased by 8.0% to AU$0.68 Up from AU$0.63, the current price target is an average from 2 analysts. New target price is 45% above last closing price of AU$0.47. Stock is up 166% over the past year. The company is forecast to post a net loss per share of AU$0.01 next year compared to a net loss per share of AU$0.015 last year. Bekanntmachung • Oct 30
Global Lithium Resources Limited, Annual General Meeting, Nov 28, 2025 Global Lithium Resources Limited, Annual General Meeting, Nov 28, 2025. Location: at level 1, 16 ventnor avenue, wa 6005, west perth Australia New Risk • Sep 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$10m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$10m free cash flow). Earnings are forecast to decline by an average of 49% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$15m net loss in 3 years). Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Revenue is less than US$5m (AU$1.8m revenue, or US$1.2m). Market cap is less than US$100m (AU$103.9m market cap, or US$68.7m). New Risk • Sep 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (AU$6.9m net loss in 3 years). Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (AU$107.0m market cap, or US$70.5m). New Risk • Aug 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$6.9m net loss in 3 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (AU$68.8m market cap, or US$44.6m). New Risk • Aug 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$6.9m net loss in 3 years). Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (AU$59.6m market cap, or US$38.8m). Price Target Changed • Jul 03
Price target decreased by 81% to AU$0.17 Down from AU$0.85, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of AU$0.17. Stock is down 38% over the past year. The company posted a net loss per share of AU$0.017 last year. Recent Insider Transactions • Jul 01
Key Executive recently bought AU$116k worth of stock On the 27th of June, Dianmin Chen bought around 809k shares on-market at roughly AU$0.14 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Dianmin has been a buyer over the last 12 months, purchasing a net total of AU$180k worth in shares. Price Target Changed • Jun 27
Price target increased by 42% to AU$1.20 Up from AU$0.84, the current price target is an average from 2 analysts. New target price is 728% above last closing price of AU$0.14. Stock is down 46% over the past year. The company is forecast to post a net loss per share of AU$0.02 next year compared to a net loss per share of AU$0.017 last year. Price Target Changed • May 05
Price target increased by 39% to AU$1.20 Up from AU$0.86, the current price target is an average from 2 analysts. New target price is 606% above last closing price of AU$0.17. Stock is down 53% over the past year. The company is forecast to post a net loss per share of AU$0.022 next year compared to a net loss per share of AU$0.017 last year. Price Target Changed • Apr 03
Price target increased by 35% to AU$1.17 Up from AU$0.86, the current price target is an average from 3 analysts. New target price is 566% above last closing price of AU$0.17. Stock is down 66% over the past year. The company is forecast to post a net loss per share of AU$0.033 next year compared to a net loss per share of AU$0.017 last year. Recent Insider Transactions • Apr 02
Key Executive recently bought AU$64k worth of stock On the 26th of March, Dianmin Chen bought around 329k shares on-market at roughly AU$0.20 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Dianmin's only on-market trade for the last 12 months. Price Target Changed • Mar 13
Price target increased by 29% to AU$1.23 Up from AU$0.95, the current price target is an average from 2 analysts. New target price is 645% above last closing price of AU$0.17. Stock is down 74% over the past year. The company is forecast to post a net loss per share of AU$0.036 next year compared to a net loss per share of AU$0.017 last year. Bekanntmachung • Feb 13
Global Lithium Resources Limited Announces Director Resignations Global Lithium Resources Limited advised that Mr. Ron Mitchell has tendered his notice of resignation as Executive Chair of the Company, effective from the close of the Company's annual general meeting of shareholders scheduled for 13 February 2025 at 4pm (AGM); Mr. Matthew Allen has withdrawn his nomination for election as a Director of the Company, effective immediately, such that his appointment as a Director filling a casual vacancy will automatically cease at the close of the AGM. The Company would like to thank Mr. Mitchell and Mr. Allen for their contributions during their executive roles with GL1. Bekanntmachung • Dec 04
Global Lithium Resources Limited (ASX:GL1) acquired Talga Project from Octava Minerals Limited (ASX:OCT) for AUD 0.40 million. Global Lithium Resources Limited (ASX:GL1) acquired Talga Project from Octava Minerals Limited (ASX:OCT) for AUD 0.40 million on December 3, 2024. A cash consideration of AUD 0.2 million will be paid by Global Lithium Resources Limited. The consideration consists of common equity of Global Lithium Resources Limited having a value of AUD 0.2 million to be issued for assets of Talga Project. As part of consideration, AUD 0.4 million is paid towards assets of Talga Project.
Global Lithium Resources Limited (ASX:GL1) completed the acquisition of Talga Project from Octava Minerals Limited (ASX:OCT) on December 3, 2024. Bekanntmachung • Oct 18
Global Lithium Resources Limited Announces Board Changes Global Lithium Resources Limited announced the expenditure reductions will ensure Global Lithium remains in a strong financial position to advance Manna in the future, when more favourable market conditions prevail. In the meantime, the Company plans to undertake targeted exploration activities (either directly or via a partnership collaboration) which it anticipates will be value accretive to all shareholders. At a corporate level, the temporary reduction of the Board of Directors from four to three members, ensures the retention of the necessary core skills required to oversee execution of the Company's immediate corporate strategy and ensure sound corporate governance, while still allowing for additional Directors to be appointed in the future as appropriate (the Constitution presently permits the Company to have anywhere between 3 and 9 Directors). Non-executive Directors Greg Lilleyman and Hayley Lawrance have advised of their intention to resign effective at the completion of the upcoming AGM. Executive Director Dianmin Chen has returned to a Non- Executive Director role and seeks re-election as a Non-Executive Director. The Company's Chief Financial Officer Matthew Allen has been appointed as Executive Director Finance to fill the Board vacancy which will be created by the proposed resignations of Mr. Lilleyman and Ms Lawrance and stands for election at the upcoming AGM. Mr. Liaoliang (Leon) Zhu, on behalf of Sincerity, requested the Company to hold a meeting of shareholders to consider the removal of independent non-executive Directors Ms Hayley Lawrance and Mr. Greg Lilleyman as Directors of the Company, and the appointment of Mr. Zhu as a Director of the Company. Both Ms Lawrance and Mr. Lilleyman have now agreed to retire at the conclusion of the AGM, given the cost-cutting and restructuring measures that the Company has undertaken and have, in any event, given undertakings to retire as Directors effective at the completion of the AGM and not to seek re-election. Price Target Changed • Oct 15
Price target decreased by 10% to AU$0.85 Down from AU$0.95, the current price target is an average from 5 analysts. New target price is 263% above last closing price of AU$0.23. Stock is down 83% over the past year. The company is forecast to post a net loss per share of AU$0.053 next year compared to a net loss per share of AU$0.017 last year. Bekanntmachung • Sep 19
Global Lithium Resources Limited, Annual General Meeting, Nov 20, 2024 Global Lithium Resources Limited, Annual General Meeting, Nov 20, 2024. Price Target Changed • Sep 14
Price target decreased by 10% to AU$0.85 Down from AU$0.95, the current price target is an average from 5 analysts. New target price is 388% above last closing price of AU$0.17. Stock is down 88% over the past year. The company is forecast to post a net loss per share of AU$0.032 next year compared to a net loss per share of AU$0.018 last year. Price Target Changed • Sep 11
Price target decreased by 9.3% to AU$0.86 Down from AU$0.95, the current price target is an average from 5 analysts. New target price is 354% above last closing price of AU$0.19. Stock is down 87% over the past year. The company is forecast to post a net loss per share of AU$0.032 next year compared to a net loss per share of AU$0.018 last year. Bekanntmachung • Sep 10
Global Lithium Resources Limited Announces Appointment of Matthew Gerard Allen as Director Global Lithium Resources Limited announced appointment of Matthew Gerard Allen as Director, effective September 9, 2024. Board Change • Aug 29
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Leon Zhu was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Bekanntmachung • Aug 20
Sincerity Development Requisitions Shareholders Meeting to Replace Directors at Global Lithium Resources Limited On August 20, 2024, Global Lithium Resources Limited announced that it has received a notice stated to be under section 249D of the Corporations Act 2001(Cth) and a notice of shareholder meeting under section 249H (3) from Sincerity Development Pty Ltd, a company controlled by Liaoliang (Leon) Zhu, requesting the Company hold a meeting of shareholders to consider proposed Board changes: proposing to remove independent non-executive directors Greg Lilleyman and Hayley Lawrance and the appointment of Barry Mitchell to the Board. Global Lithium added that it considers the notices are invalid and ineffective. As such, the Company is not proposing to call a shareholder meeting at this time in response to the notices that have been received and will comply with all obligations under the Corporations Act as required. The Company also stated that it is considering its position and the appropriate management of all issues associated with the invalid requisition notices and will keep shareholders updated on any material developments. New Risk • Jul 24
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 42% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 42% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$12m net loss in 2 years). Market cap is less than US$100m (AU$69.0m market cap, or US$45.5m). Price Target Changed • Jul 10
Price target decreased by 14% to AU$1.24 Down from AU$1.44, the current price target is an average from 5 analysts. New target price is 359% above last closing price of AU$0.27. Stock is down 84% over the past year. The company is forecast to post a net loss per share of AU$0.035 next year compared to a net loss per share of AU$0.018 last year. Bekanntmachung • Jul 10
Global Lithium Resources Limited Announces Board Changes Global Lithium Resources Limited announced that Mr. Geoff Jones has resigned as Non-Executive Chairman of the Company, effective immediately. The Board has appointed current Managing Director Mr. Ron Mitchell to succeed Mr. Jones as Executive Chairman, effective immediately. Mr. Mitchell is an experienced executive and Chair having held senior commercial and leadership positions at both Talison Lithium and Tianqi Lithium. He has spent the past five years as the inaugural Chairman of the London Metal Exchange (LME) Lithium and Cobalt Committee. Mr. Mitchell has been Managing Director of GL1 since May 2022 following his initial appointment with the Company as Executive Director in March 2022. During his tenure, he has overseen the signing of an offtake agreement with Canmax, the introduction of Mineral Resources Limited as a cornerstone investor, strategic M&A, and the delivery of a 69.6Mt resource base across the Manna and Marble Bar Lithium Projects. The Board has appointed current Non-Executive Director Dr. Dianmin Chen as Executive Director, effective immediately. Dr. Chen will work closely with the Project Development and Executive teams to complete the Manna Definitive Feasibility Study (DFS) in 2024 and work towards a Final Investment Decision (FID) in 2025. A founding director of Global Lithium, Dr. Chen is a mining engineer with more than 35 years' experience in the mining and metals industry, with roles spanning technical, production and management positions in Australia, China, and Canada. Price Target Changed • Jun 21
Price target decreased by 7.8% to AU$1.44 Down from AU$1.56, the current price target is an average from 5 analysts. New target price is 424% above last closing price of AU$0.28. Stock is down 81% over the past year. The company is forecast to post a net loss per share of AU$0.054 next year compared to a net loss per share of AU$0.018 last year. New Risk • Mar 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$36m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$36m free cash flow). Revenue is less than US$1m (AU$790k revenue, or US$522k). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$7.3m net loss in 3 years). Share price has been volatile over the past 3 months (13% average weekly change). Price Target Changed • Feb 03
Price target decreased by 9.7% to AU$2.05 Down from AU$2.27, the current price target is an average from 5 analysts. New target price is 341% above last closing price of AU$0.47. Stock is down 79% over the past year. The company is forecast to post a net loss per share of AU$0.036 next year compared to a net loss per share of AU$0.018 last year. New Risk • Jan 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$148.4m (US$97.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$83m). Currently unprofitable and not forecast to become profitable over next 3 years (AU$7.9m net loss in 3 years). Market cap is less than US$100m (AU$148.4m market cap, or US$97.5m). Recent Insider Transactions • Jan 16
Non-Executive Director recently bought AU$164k worth of stock On the 15th of January, Dianmin Chen bought around 250k shares on-market at roughly AU$0.65 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$242k. Insiders have collectively bought AU$459k more in shares than they have sold in the last 12 months. Breakeven Date Change • Dec 22
No longer forecast to breakeven The 4 analysts covering Global Lithium Resources no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$23.7m in 2026. New consensus forecast suggests the company will make a loss of AU$7.85m in 2026. New Risk • Dec 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$83m). Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Bekanntmachung • Oct 27
Global Lithium Resources Limited, Annual General Meeting, Nov 28, 2023 Global Lithium Resources Limited, Annual General Meeting, Nov 28, 2023, at 16:00 W. Australia Standard Time. Location: The Park Business Centre 45 Ventnor Avenue West Perth WA 6005 West Perth Australia Agenda: To consider adoption of remuneration report; to consider election of Directors; to consider adoption of GL1 Incentive awards plan; to consider Issue Of Incentive Performance Rights To Director; to consider Issue Of Incentive Options To Director; to consider Approval Of Potential Termination Benefits In Relation To The Incentive Performance Rights And Incentive Options Proposed To Be Issued To Ronald Mitchell Under The Gl1 Incentive Awards Plan; to consider Re-Insertion Of Proportional Takeover Provisions In The Constitution; and to consider other business matters. Breakeven Date Change • Oct 27
Forecast to breakeven in 2026 The 4 analysts covering Global Lithium Resources expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of AU$23.7m in 2026. Average annual earnings growth of 51% is required to achieve expected profit on schedule. New Risk • Aug 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 2.1% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$80m). Currently unprofitable and not forecast to become profitable over next 3 years (AU$16m net loss in 3 years). Shareholders have been diluted in the past year (29% increase in shares outstanding). Bekanntmachung • Aug 09
Warrick Hazeldine Retires as A Director of Global Lithium Resources Limited, Effective 9 August 2023 Global Lithium Resources Limited advised that following an orderly transition of the Chair role to Geoffrey Jones, Non-executive Director Mr. Warrick Hazeldine has retired as a director of the Company effective 9 August 2023. New Risk • Jul 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 22% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 22% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$80m). Currently unprofitable and not forecast to become profitable over next 3 years (AU$20m net loss in 3 years). Shareholders have been diluted in the past year (29% increase in shares outstanding). Price Target Changed • Jul 27
Price target increased by 7.6% to AU$2.83 Up from AU$2.63, the current price target is an average from 4 analysts. New target price is 60% above last closing price of AU$1.77. Stock is up 22% over the past year. The company is forecast to post a net loss per share of AU$0.072 next year compared to a net loss per share of AU$0.026 last year. Bekanntmachung • Jun 30
Global Lithium Resources Limited, Annual General Meeting, Jul 31, 2023 Global Lithium Resources Limited, Annual General Meeting, Jul 31, 2023, at 10:00 W. Australia Standard Time. Location: The Park Business Centre, 45 Ventnor Avenue, West Perth, West Perth Australia Agenda: To discuss Ratification of prior issue of Shares; and to discuss Issue of Options to Related Party. Bekanntmachung • May 17
Global Lithium Resources Limited Appoints Geoffrey Jones as Director Global Lithium Resources Limited appointed GEOFFREY JONES as director. Date of appointment is 15 MAY 2023. Price Target Changed • Mar 22
Price target decreased by 13% to AU$2.75 Down from AU$3.18, the current price target is an average from 4 analysts. New target price is 153% above last closing price of AU$1.09. Stock is down 53% over the past year. The company is forecast to post a net loss per share of AU$0.065 next year compared to a net loss per share of AU$0.026 last year. Price Target Changed • Feb 21
Price target decreased by 10% to AU$3.25 Down from AU$3.63, the current price target is an average from 4 analysts. New target price is 96% above last closing price of AU$1.66. Stock is up 21% over the past year. The company is forecast to post a net loss per share of AU$0.063 next year compared to a net loss per share of AU$0.026 last year. Recent Insider Transactions • Feb 18
Non-Executive Director recently bought AU$53k worth of stock On the 16th of February, Dianmin Chen bought around 30k shares on-market at roughly AU$1.77 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$50k more in shares than they have sold in the last 12 months. Bekanntmachung • Feb 15
Global Lithium Resources Limited Announces the Results of the Scoping Studyon the Manna Lithium Project Located 100Km East of Kalgoorlie, A Major Mining Hub in Western Australia Global Lithium Resources Limited announced the results of the Scoping Studyon the Manna Lithium Project located 100km east of Kalgoorlie, a major mining hub in Western Australia. The key financial metrics are compelling and the GL1 Board has recommended the Project to proceed directly to a Definitive Feasibility Study. The Scoping Study has been completed with the assistance of highly experienced and reputable independent consultants based in Western Australia, including: Mineral resource modelling and estimation Snowden Optiro; Resource optimisation, mine planning and mining costs Resolve Mining Solutions; Flowsheet development, engineering and cost estimation Minsol Engineering Consultants. The Scoping Study was completed to an overall estimating accuracy of +/-30% (Class 5 estimate) and has a basis date for first quarter of calendar year 2023. The Project is based on a 2Mtpa mining and processing operation with the Study demonstrating very strong financial metrics. The preliminary economic evaluation indicates the Manna Project will generate significant net cash flows over an initial 10 year life-of-mine (LOM) with a capital payback of 15 months following first production. Sensitivity analysis was completed to determine the impact of various factors on the project economics. Lithium price and foreign exchange rate have the largest influence on the Project financials. For every USD 1,000/t (SC5.5) increase in the lithium concentrate price, the project NPV8% increased by AUD 1.8B. An increase in the AUD:USD exchange rate from 0.70 to 0.75 resulted in a AUD 0.3 Billion reduction in the project NPV8%. The Company will proceed directly to a Definitive Feasibility Study (DFS) on the Manna Lithium Project with the aim of reaching a final investment decision (FID) in CY2024. A further Mineral Resource update incorporating an additional approximately 30,000m of drilling at Manna is expected to be announced in Calendar year 2023. This Mineral Resource update will form the basis of the DFS, with further drilling planned throughout this year to inform detailed mine planning and extension of mine life for Front-End Engineering and Design (FEED). Bulk metallurgical diamond drilling was completed last year and testwork is underway, as announced earlier this month. This will allow flowsheet optimisation and vendor testing of preferred equipment for the process plant. Ore variability testwork will also be conducted this year to confirm impact of the mine schedule on process recovery and product quality over the life of the Project. The Scoping Study results have identified several areas that have the potential to further improve the Project's economics through cost reductions and efficiencies. Various work programs will be undertaken to assess these opportunities, and include: Ore sorting trials to reduce internal mine dilution and iron content; Assess larger haul trucks and excavators for waste rock removal; Site water balance and hydrogeological studies; Water treatment process options; Dry stack tailings to simplify environmental approvals and avoid construction of tailings facility; Power generation and fuel studies to reduce carbon emissions; Utilise the Scoping Study mining outputs to obtain preliminary pricing from contract miners; Further evaluate optimum product transportation route and secure agreements. Environmental assessment work activities have been scheduled and underway, including: Completion of baseline studies; Undertake environmental risk assessments; Stakeholder engagement activities, including heritage surveys; Preparation of Mining Proposal, Mine Closure Plan and Project Management Plan; Submission of Works Approvals for prescribe facilities; Submission of Native Vegetation Clearing Permits; Ground water abstraction licences. Bekanntmachung • Jan 31
Global Lithium Resources Limited Announces Further Assay Data Has Been Received for Its 100% Owned Manna Lithium Project, Located 100Km East of Kalgoorlie Global Lithium Resources Limited announced that further assay data has been received for its 100% owned Manna Lithium Project, located 100km east of Kalgoorlie. At the end of the Manna 2022 drilling program there was approximately 5,000 outstanding assays in the laboratory system. These assays were not included in the significant mineral resource estimate (MRE) upgrade announced by Global Lithium on 15th December 2022. The assay results announced together with these outstanding approximately 3,500m of assays have not been included in the Scoping Study due for completion in First Quarter calendar year 2023. These assay results will be added to the current MRE at Manna, to further extend the known size and increase the confidence levels of the classification of the Manna Deposit. Within the 2022 drilling program, the RC rigs completed 49,071m of drilling along with 5,479m of Diamond core drilling. A drilling campaign of this size carried out safely within a year, is a clear indication of the Company's commitment to develop the Manna Lithium deposit into a mine within the shortest possible timeframe. The 2023 exploration program is currently underway to map out the larger tenement area since reaching 100% ownership of the Manna Lithium Project through acquisition. This program will target prospective geological structures and host rocks for lithium deposits and follow known structural extensions of the current Manna deposit that previously lay outside the joint venture boundary. Up to 30,000m of RC and Diamond drilling is planned for this program. The Diamond drilling (core) will be utilised as part of the metallurgical test program. The Manna Lithium Project hosts a Mineral Resource of 32.7Mt @ 1.0% Li2O. The Company recently released an updated MRE with an extended drilling program continuing into 2023 to further expand the existing resource. Bekanntmachung • Jan 26
Global Lithium Resources Limited Commences Detailed Metallurgical Processing Program for the Manna Lithium Project, Located 100Km East of Kalgoorlie in the Goldfields Region Global Lithium Resources Limited announced that it has commenced a detailed Metallurgical processing program for the Manna Lithium Project, located 100km east of Kalgoorlie in the Goldfields region. Leading resources engineering firm Wave International has been appointed to undertake the Study, which will define and test the metallurgical upgrade processes to produce an industry standard spodumene concentrate for the Manna Lithium Project. The Scoping Study that is currently underway for the Manna Lithium Project uses industry standards for spodumene concentrate recoveries to establish the parameters for the Study. The outcomes of this Study will underpin actual recovery and grade information to be used in the subsequent Feasibility Study that is scheduled to commence in first quarter calendar year 2023, whilst also identifying key risks and opportunities. Wave, in conjunction with Global Lithium, will develop the forward work plan summarising the necessary engineering and plant requirements, through to project implementation. Wave is a development consultant with over 20 years of global experience in engineering, project strategy, feasibility studies, detailed design, project delivery and operational support. has established significant capability in the battery minerals market across the lithium, vanadium, graphite and cobalt sectors and also have an established reputation for enabling successful commercialisation for junior and mid-tier battery mineral companies. The key deliverables of the Study include: Stage 0 Characterisation: Sample receipt, preparation, and handling of core samples from GL1; Characterisation of samples into defined zones; Mineralogy on characterised samples; Comminution testwork on characterised samples. Stage 1 Preliminary Heavy Liquid Separation (HLS) and flotation: HLS testwork on characterised samples; Whole of Ore (WOO) flotation testwork on characterised samples; Interim report, including analysis and recommendations for Stage 2. Stage 2 HLS /or flotation development: Following analysis of the preliminary HLS results, Stage 2 testwork will be undertaken on a more defined flowsheet and will comprise the following; HLS testwork on samples; Mica removal via batch reflux classifying; Dense Media Separation (DMS) testwork at selected crush size; Magnetic separation on DMS concentrate; Further flotation development; Interim report, including analysis and recommendations for preferred flowsheet configuration and key process design criteria for engineering development. Stage 3 Variability: Sample receipt, preparation, and handling of core samples from throughout the Manna Project; HLS testwork on preferred regime form previous stages (unless ruled out by previous testwork); Flotation testwork on selected samples on preferred regime from previous stages; Additional testwork iterations to understand adjustments required to the flow sheet; Process design criteria to achieve acceptable results. Stage 4 Final report, including any recommendations and final flow sheet. Bekanntmachung • Dec 17
Global Lithium Resources Limited Appoints Tony Chamberlain as Project Director Global Lithium Resources Limited announced the appointment of experienced mining industry executive Tony Chamberlain as Project Director at the Company. Mr. Chamberlain has more than 25 years' experience as a mining professional in the resource sector, comprising study and project management, construction and project delivery, project evaluation, due diligence, management of operational teams, production and strategic business planning. Most recently, Mr. Chamberlain was Chief Operating Officer and Project Director of uranium exploration and development company, Vimy Resources Ltd, where he led a multi-faceted team including safety, human resources, exploration, mine planning, engineering and contract management. Mr. Chamberlain also previously spent 2.5 years with BCI Minerals Ltd. as Project Director and Chief Operating Officer between 2019-2021, and five years with Vimy Resources as Chief Operating Officer between 2014-2019. As Project Director of Global Lithium, Mr. Chamberlain will be responsible for all end-to-end deliverableson the Company's projects, commencing with the Scoping and Feasibility Studies in relation to the Manna Lithium Project. Mr. Chamberlain will also assist Global Lithium's project teams with the successful delivery of various work streams on time, budget and quality. Bekanntmachung • Dec 16
Global Lithium Resources Limited Announces Game-Changing Updated JORC Mineral Resource Estimate for its Two 100%-Owned Hard Rock Lithium Projects in Western Australia Global Lithium Resources Limited announced a game-changing updated JORC Mineral Resource Estimate (MRE) for its two 100%-owned hard rock lithium projects in Western Australia. In 2022, Global Lithium has performed large scale drilling programs across both its Manna Lithium Project ("Manna") in the Goldfields region and Marble Bar Lithium Project ("MBLP") in the Pilbara region, which has enabled a significant upgrade to the Company's Global Mineral Resource. In November 2022, Global Lithium secured 100% ownership of Manna, located 100km east of Kalgoorlie. This acquisition increased the land holding area for Manna by nearly five times, allowing for a larger exploration campaign to be executed to locate additional drill targets for the Mineral Resource expansion drilling program that will continue throughout 2023. The Manna Lithium deposit remains open in all directions and the current resource expansion drilling program will continue throughout 2023, with an additional 35,000m utilising both RC and DD drilling techniques planned. During the 2022 drilling program more than 33,685m of reverse circulation drilling and 6,138m of diamond core was drilled across the deposit. The main focus of this program was to expand the maiden Mineral Resource of 9.9Mt @ 1.14% Li2O.2 This was achieved by testing the deposit along strike in both directions and extending the known lithium-bearing pegmatites down dip. This drilling program proved to be extremely successful as demonstrated in this significant Mineral Resource upgrade. The current drilling program results included assays up to mid-November 2022 that were utilised in this current resource update with a large number of samples still to be assayed and incorporated into the model. This with the additional surface expressions evident from this program, but as yet untested, have afforded the Global Lithium team significant scope for additional targets within the existing Manna Project Area to be tested as part of its planned 2023 resource update. The diamond core collected from this year's drilling program totalled ~2,000kg of lithium-bearing pegmatites across 20 drill holes, providing a complete set of representative core for the metallurgical testing program that will start in January 2023. Price Target Changed • Nov 16
Price target increased to AU$3.50 Up from AU$3.10, the current price target is an average from 3 analysts. New target price is 54% above last closing price of AU$2.28. Stock is up 274% over the past year. The company is forecast to post a net loss per share of AU$0.067 next year compared to a net loss per share of AU$0.026 last year. Board Change • Nov 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Non-Executive Director Dianmin Chen is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Bekanntmachung • Nov 15
Global Lithium Resources Limited Announces Resource Expansion Drilling Program Is Progressing Well At the Now 100% Owned Manna Lithium Project, Located 100Km East of Kalgoorlie Global Lithium Resources Limited announced that the resource expansion drilling program is progressing well at the now 100% owned Manna Lithium Project, located 100km east of Kalgoorlie. The RC rigs have completed 23,670 metres of drilling to date and are continuing to systematically drill out the Manna Deposit and collect sample data that will be used for the upgraded resource due in December. The second RC rig is specifically tasked to complete the infill drilling to allow a larger percentage of the deposit to be classified as indicated, a higher confidence category required for the upcoming feasibility studies. The DD campaign has completed its program of collecting sufficient core samples for a full metallurgical test program. The core is being fast tracked through processing and assay to be available for sample selection and metallurgical testing beginning early 2023. An expanded exploration program is underway to map out the larger tenement area since acquiring 100% of the Manna Lithium Project. This program will target prospective geological structures and host rocks for lithium deposits and follow known structural extensions of the current Manna deposit that previously lay outside the JV boundary. Up to 30,000 metres of RC and Diamond drilling is planned for this program. Bekanntmachung • Oct 22
Global Lithium Resources Limited, Annual General Meeting, Nov 24, 2022 Global Lithium Resources Limited, Annual General Meeting, Nov 24, 2022, at 16:00 W. Australia Standard Time. Location: QT Hotel, 133 Murray Street, Perth, Perth Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2022; To adopt remuneration report; To issue of performance rights to related party – Ronald Mitchell; To increase in total aggregate remuneration for non-executive directors; To amend constitution. Breakeven Date Change • Sep 30
No longer forecast to breakeven The 2 analysts covering Global Lithium Resources no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$16.4m in 2025. New consensus forecast suggests the company will make a loss of AU$1.96m in 2025. Bekanntmachung • Sep 16
Global Lithium Resources Limited Receives Second Round of Positive Results from Preliminary Metallurgical Test Work At Marble Bar Lithium Project Global Lithium Resources Limited announced excellent results have been received from the second round of preliminary metallurgical test work carried out on diamond core samples from the Marble Bar Lithium Project (MBLP) in the Pilbara region of Western Australia. BGRIMM Technology Group ("BGRIMM") has been engaged by Global Lithium to carry out laboratory metallurgical test work in Beijing, China. Excellent results were achieved in this preliminary metallurgical test work program and potential processing options with recommended flow sheets will be developed based on best market practise. These results follow the initial Metallurgical Test Work carried out by GR Engineering Services Limited (refer ASX Announcement 19th August 2022). Test Work Details: The test composite sample, which returned a head assay of 1.17% Li2O, was made from two PQ size drill holes sourced from the MBLP (holes MBDD001 and MBDD002). Sample MBDD001 weighed 50kg with a grade of 1.02% Li2O, sample MBDD002 weighed 20kg with a grade of 1.50% Li2O. The BGRIMM test work program consisted of mineralogy study and a series of condition optimal tests on flotation with Beijing tap water. Those tests included grinding size, type and dosage of activating agents, NaOH dosage and stirring time, type and dosage of collecting agents, Na2CO3 dosage, type and dosage of inhibitor agent. Under the optimal conditions derived from the above tests, open circuit flotation test and closed-circuit flotation test are conducted. The lithium mineral in the ore is spodumene. Spodumene normally appears in columnar monomer, followed by intergrowth with gangue minerals such as quartz and feldspar, with a trace amount wrapped in the gangue minerals. Such embedded characteristics indicate that spodumene is easy to be liberated by grinding, which is conducive to processing recovery. Under the grind size 70% passing 74ma concentrate grade of 5.76% Li2O and recovery of 85.28% Li2O were obtained in the closed flotation circuit. Further magnetic separation test work, using a magnetic field strength of 1 Tesla, on the flotation concentrate to reduce the Fe2O3 content was performed. The final flotation concentrate, after magnetic separation, assayed 5.92% Li2O and 0.96% Fe2O3 and overall flotation and magnetic test work lithia recovery of 78.66% Li2O. Laboratory test work only provides an indication of the expected processing performance of the sample that has been tested. This test work does not account for changes in performance that may occur from scale up to full plant operation. Further test work and studies are required before the expected recovery across the deposit or for an operating plant can be estimated. This test work has only been conducted on a composite sample from two drill core samples and more test work is required to determine whether these samples are representative of the broader deposit. Future Work Plan: Further test work is required to improve the rejection of iron bearing gangue minerals, and therefore improve the concentrate grade and Li2O recovery. Further investigation into the influence of site water on flotation performance. Further investigation into grindability of the ore. Further investigation into recovery of beryllium, tantalum and niobium. Price Target Changed • Sep 15
Price target increased to AU$2.90 Up from AU$2.30, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of AU$2.93. Stock is up 581% over the past year. The company is forecast to post a net loss per share of AU$0.021 next year compared to a net loss per share of AU$0.014 last year. Bekanntmachung • Sep 14
Global Lithium Resources Limited Announces the First Diamond Core Drilling Program At Its Manna Lithium Project Global Lithium Resources Limited announced that the first Diamond Core drilling (DD) program at its Manna Lithium Project has returned the high ever grade of a Lithium Bearing Pegmatite in the project's history. Additionally, the company reports that further significant lithium assay results returned from the same drill hole, confirm the extension of the resource down dip. Diamond drilling continues at Manna and further results to be released by Global Lithium as they become available. The second RC rig, which is a valuable addition to the company's ongoing program, has now commenced drilling at the Manna Lithium Project. The updated Mineral Resource Estimate (MRE) is on track to be released in fourth quarter 2022. The two RC drill rigs will continue drilling on site until the true expanse of this developing Lithium resource is outlined. Ongoing exploration mapping has identified a new southwestern Pegmatite target area at Manna. This new target area is up to 1.2km directly along strike from the main deposit. RC drilling has commenced to test if this new area connects with the main resource. The Manna Lithium Project hosts a maiden Inferred Mineral Resource of 9.9Mt at 1.14% Li2O (100% basis). The company anticipates releasing an updated MRE following the completion of the drilling program and additional metallurgical test work in fourth quarter 2022. The Manna core is currently being logged onsite, it will then be transported to Perth for processing and assay. The diamond drilling program has been designed to provide representative core for the upcoming metallurgical test work and associated feasibility study work. Key Highlights: Diamond core drilling assay results returned from Manna include the high Lithium grade to date: 5.7m at 1.82% Li20 from 136.7m: Inc. 4.3m at 2.08% Li20 from 136.7m; Inc. 0.4m at 3.65% Li20 from 136.7m. 3.9m at 1.72% Li20 from 148.9m; 6.8m at 1.65% Li20 from 160.3m: Inc. 3.7m at 2.06% Li20 from 160.3m; 6.8m at 1.49% Li20 from 313.2m: Inc. 4.0m at 1.98% Li20 from 315m; Ongoing exploration mapping has identified a new southwestern Pegmatite target area at Manna up to 1.2km directly along strike from the main deposit; Updated Manna Mineral Resource Estimate on target for fourth quarter 2022. Bekanntmachung • Sep 07
Global Lithium Resources Limited Announces Third Rig Mobilises to the Manna Lithium Project Global Lithium Resources Limited advised that an additional RC drilling rig has been mobilised at its Manna Lithium Project located 100km east of Kalgoorlie. Experienced contractor K-Drill was commissioned to undertake the infill RC drilling program, which will complement the ongoing 20,000m drilling program at Manna which commenced in May and has already returned significant lithium intervals. K-Drill is a Western Australian-based drilling services company which specialises in RC mineral exploration drilling and other mining services. The addition of the second RC rig will greatly increase the drilling information available to Global Lithium ahead of the updated Mineral Resource, expected to be announced in December 2022. The Manna Lithium Project hosts a maiden Inferred Mineral Resource of 9.9Mt @ 1.14% Li2O (100% basis). The Company anticipates a Mineral Resource update to follow the drilling program along with additional metallurgical test work in fourth quarter of 2022. Bekanntmachung • Aug 19
Global Lithium Resources Limited Announces Positive Initial Metallurgical Test Work Results Received for Marble Bar Lithium Project Global Lithium Resources Limited announced excellent results from preliminary metallurgical test work carried out on Diamond core samples from the Marble Bar Lithium Project (MBLP) in the Pilbara region of Western Australia. Global Lithium engaged specialists from GR Engineering Services Limited to supervise and carry out a sighter test work program conducted at Nagrom Laboratories in Perth, Western Australia (Nagrom). Excellent metallurgical results were achieved in the preliminary test work carried out and potential processing options with recommended flow sheets will be developed based on best market practise. Test Work Details: The test work composite was made from two PQ size drill holes sourced from the MBLP (holes MBDD001 and MBDD002). Each test work Composite weighed approximately 100kg and returned a head assay of 1.38% Li2O and 0.93% Fe2O3. The Nagrom test work program consisted of hydrostatic SG, Heavy Liquid Separation (HLS) at various crush sizes. 3 stage Dense Media Separation (DMS) using a 100mm diameter cyclone was then carried out on a subsample that was crushed to P100 3.35mm and screened at 0.85mm. The DMS test work recovered 66% Li2O from DMS feed to a concentrate grade of 5.41% Li2O and 2.4% Fe2O3. This equates to a recovery from the head sample of 51% Li2O which is a pleasing initial result. Further magnetic separation test work, using a magnetic field strength of 1 Tesla, on the DMS concentrate decreased the Fe2O3 content was performed. The final DMS100 concentrate, after magnetic separation, assayed 6.08% Li2O and 0.59% Fe2O3 and overall DMS testwork lithia recovery of 50.1% Li2O. Preliminary sighter flotation test work was performed on the composite of DMS middlings and -0.85mm (from the Master Composite), ground in a laboratory rod mill to 80% mass passing 106 µm. Laboratory bench scale flotation test work included: deslime at 20 µm, magnetic separation with LIMS & WHIMS, Mica Pre-float, Rougher flotation, Cleaner flotation and Re-Cleaner flotation stages. A preliminary review of the Sighter Flotation Test 5 results indicates a combined flotation concentrate of 5.50% Li2O and 1.8% Fe2O3 and flotation stage recovery of 58% Li2O. The flotation stage contributes approximately 26.2% overall test work lithia recovery. The combined overall lithia recovery on the Master Composite sample assessed in this preliminary test work is estimated at circa 76% Li2O recovery, at a combined concentrate grade of 5.9% Li2O and 1.0% Fe2O3. The test work derived overall lithia recovery is unadjusted for scale-up. Laboratory test work only provides an indication of the expected processing performance of the sample that has been tested. This test work does not account for changes in performance that may occur from scale up to full plant operation. Further test work and studies are required before the expected recovery across the deposit or for an operating plant can be estimated. This test work has only been conducted on two drill core samples and more test work is required to determine whether these samples are representative of the broader deposit. Future Work Plan: GL1 are currently working towards completion of the current drilling programme at the MBLP; Metallurgical test work is ongoing with further metallurgical test work planned on representative samples from the MBLP, targeting samples from mine phases and geo-metallurgical considerations; Further investigation is ongoing into metallurgical flowsheet options and further test work is required to improve the rejection of iron bearing gangue minerals, and therefore improve the concentrate grade and Li2O recovery; Further investigation is ongoing into optimisation of metallurgical test work conditions, as they pertain to DMS and flotation process conditions and parameters (e.g. DMS SG cut-points, Flotation reagents, WHIMS Gauss strength etc). Bekanntmachung • Aug 11
Global Lithium Resources Limited Announces Exceptional Manna Drilling Results Include 24m @ 1.03% Li2O Global Lithium Resources Limited announced that the Reverse Circulation (RC) drilling program at the Manna Lithium Project has returned the largest single intercept of a Lithium Bearing Pegmatite in the project's history. In addition to this notable achievement, further significant lithium assay results were returned which extend the northern strike by 220m from the existing assay results. Ongoing ground mapping of the north/eastern extension target area at Manna has identified large outcropping pegmatites 1,000m along strike from the current resource outline. The RC drilling program is currently focused to drill out this extended area so that results can be included in the updated Mineral Resource Estimate (MRE), which the Company plans to release in Fourth Quarter 2022. An additional Program of Works (POW) has been submitted to the Mines Department to cover off the expanded exploration program. The Manna Lithium Project hosts a maiden Inferred Mineral Resource of 9.9Mt @ 1.14% Li2O (100% basis). The Company anticipates releasing the update MRE following the completion of the drilling program as well as additional metallurgical test work in Fourth Quarter 2022. RC drilling assay results returned from Manna include the largest single interval to date MRC0048 returned individual intercepts of: 24m @ 1.03% Li2O from 159m Including 11m @ 1.37% Li2O from 164m 6m @ 1.27% Li2O from 177m. Bekanntmachung • Aug 02
Global Lithium Resources Limited Announces Identification New Lithium Bearing Pegmatite at MBLP Global Lithium Resources Limited reported a new significant lithium bearing LCT pegmatite has been identified to the east of the Archer deposit at the Marble Bar Lithium Project (MBLP). This prospective new area is interpreted to be a continuation of the Archer deposit that has been offset to the east by a crosscutting fault. This new LCT pegmatite extends to the south a further 850m outside the existing resource outlines. Exploration drilling will focus on this new area so it can be included in the updated mineral resource later this year. The MBLP, which now spans over a 6km by 1.5km area, continues to produce encouraging lithium assay results from the current exploration drilling program. The Company's wholly owned MBLP is located 150km southeast of Port Hedland in the Pilbara region of Western Australia. The MBLP drilling program supports the targeting effort by the Global Lithium and CSA Global geology teams and provides a strong platform for future growth. The majority of MBLP drilling has been designed and targeted to test geochemical trends and mapped pegmatite targets, particularly along the greenstone belt and also, several granite hosted pegmatite targets that are located between the Archer deposit and the area to the east, near the major regional structural feature of the Brockman Zone. The drilling intersection highlights reported above have been recorded from drilling to the south and to the east of the Archer deposit. The target zones extend over distances from 500m to 1.2km with a majority of the drilling being undertaken on a nominal grid pattern with a line spacing of 160m and a hole spacing of 80m. The success of the program indicates strong potential for future growth and provides further evidence that the MBLP is continuing to emerge as a significant spodumene lithium deposit, in a premier global hard rock lithium mining jurisdiction. The MBLP is situated close to major road infrastructure, with direct links into Port Hedland, where bulk commodities, including spodumene concentrate, are currently being exported. The MBLP is also located approximately 15km from the town of Marble Bar, which provides ready access to services, skills and accommodation for geology teams. Bekanntmachung • Jun 29
Global Lithium Resources Limited Announces the First Lithium Assay Results from its Initial RC Drilling Program at the Manna Lithium Project Global Lithium Resources Limited announced the first lithium assay results from its initial RC drilling program at the Manna Lithium Project, located 100km east of Kalgoorlie. The Manna Lithium Project hosts a maiden Inferred Mineral Resource of 9.9Mt @ 1.14% Li2O (100% basis)1. After acquiring an 80% interest in Manna from Breaker Resources in December 2021, GL1 engaged Snowden Optiro to undertake a Mineral Resource estimate using data compiled by Breaker Resources, including RC and DD results. Whilst they are early-stage results from this program, the assays provide GL1 with significant confidence in the Manna Lithium Project and confirm the findings from previous drilling undertaken by Breaker in 2018. The assay results highlighted above are the first to be reported from the Company's maiden 20,000m RC program at Manna, which commenced in May and is being undertaken by experienced contractor Profile Drilling Services. In addition, the Company reported that diamond drilling (DD) has commenced at the Manna Lithium Project on schedule. Earlier this year, experienced contractor Mt Magnet Drilling was appointed to undertake the DD program which will initially comprise 4,000m of drilling. Mt Magnet is a Western Australian-based drilling services company which specialises in DD mineral exploration drilling. The DD program has been designed to test and expand the deposit at depth below the RC program. GL1 will progress the DD program in parallel with ongoing RC drilling program and intends to update shareholders with further results in third quarter of 2022. A geotechnical logging program of the core will run in parallel with the metallurgical test program to enable the potential commencement of feasibility study work on the deposit. The company anticipates a Mineral Resource update at the Manna Lithium Project to follow the completion of the RC and DD programs along with additional metallurgical test work in fourth quarter of 2022. Bekanntmachung • Jun 17
Global Lithium Resources Limited Announces Diamond Drilling Contractor Mobilises to Manna Lithium Project Global Lithium Resources Limited announced that the contractor for the planned DD drilling program at the Manna Lithium Project located 100km east of Kalgoorlie, Mt Magnet, has mobilised to site to commence work. Earlier this year, experienced contractor Mt Magnet Drilling was appointed to undertake the Diamond drilling program which will initially comprise 4,000m of HQ core. Mt Magnet Drilling is a Western Australian-based drilling services company which specialises in DD mineral exploration drilling. The Company has expanded the mobile camp at Manna to house the Geology team and both drilling contractors on site. Mt Magnet is scheduled to commence coring next week. The mobilisation of Mt Magnet to Manna follows the commencement of the initial 20,000m RC drilling program at the project by contractor Profile Drilling Services in May 2022. The Manna Lithium Project hosts a maiden Inferred Mineral Resource of 9.9Mt @ 1.14% Li2O (100% basis). The Company anticipates a Mineral Resource update to follow the drilling program along with additional metallurgical test work in Fourth Quarter 2022. Bekanntmachung • Jun 11
Global Lithium Resources Limited Announces MBLP Assays Continue to Deliver Exploration Success Global Lithium Resources Limited report continued encouraging lithium assay results from its Q1/Q2 CY2022 Exploration Program at the Company's wholly owned MBLP, located 150km southeast of Port Hedland in the Pilbara region of Western Australia. The majority of MBLP drilling has been designed and targeted to test geochemical trends and mapped pegmatite targets, particularly along the greenstone belt and also several granite hosted pegmatite targets that are located between the Archer deposit and the area to the east near the major regional structural feature of the Brockman Zone. The drilling intersection highlights reported above have been recorded from drilling to the south and to the east of the Archer pegmatite resource. The drill target locations with prospective mineralised zones are detailed. The target zones extend over distances from 500m to 1.2km with a majority of the drilling being undertaken on a nominal grid pattern with a line spacing of 160m and a hole spacing of 80m. The success of the program indicates strong potential for future growth and provides further evidence that the MBLP is continuing to emerge as a significant spodumene lithium deposit, in a premier hard rock lithium mining jurisdiction. The MBLP is situated close to major road infrastructure, with direct links into Port Hedland, where bulk commodities, including spodumene concentrate, are currently being exported. The MBLP is also located approximately 15km from the town of Marble Bar, which provides ready access to services, skills and accommodation for geology teams. Bekanntmachung • May 31
Global Lithium Resources Limited Appoints Ron Mitchell as Managing Director, Effective June 1, 2022 Global Lithium Resources Limited announced the appointment of Mr. Ron Mitchell as Managing Director, effective June 1, 2022. Ron joined the GL1 board on 1 March 2022 as Executive Director Markets & Growth. GL1 commenced an executive search process through Gerard Daniels for the Managing Director Role at the beginning of 2022. The search, coupled with Mr. Mitchell's performance since joining GL1 in March, confirmed to the Board that he is the ideal candidate to lead the Company in its next stage of growth, where it looks to transition to a significant lithium developer. Mr. Mitchell has already been a part of a number of significant developments at GL1 since joining theCompany, including the signing of a 10-year offtake agreement with major shareholder Suzhou TA&A Ultra Clean Technology Co. Limited, the introduction of Mineral Resources as a cornerstone investor and the commencement of the Company's maiden drilling campaign at the Manna Lithium Project. This involvement, in addition to GL1's rapid growth since listing on the ASX just over 12 months ago, sets a strong platform for Ron to build from as Managing Director. As detailed in his board appointment announcement (ASX Announcement 13th January 2022) Mr. Mitchell has more than 25 years' experience in senior commercial, strategy, sales and business development roles including more than 10 years in the lithium and battery metals industry with senior roles at Tianqi Lithium Corporation and Talison Lithium. He is also the inaugural Chairman of the London Metal Exchange (LME) Lithium Committee, a role he has held for more than two years. As Managing Director, Mr. Mitchell will be accountable for all strategic partnership negotiation, the day-to-day activities on the ground at the Company's portfolio of WA lithium assets, business growth opportunities and work towards fast tracking asset development and production. Bekanntmachung • May 27
Global Lithium Resources Limited Commences RC Drilling at Manna Lithium Project Global Lithium Resources Limited announced that RC drilling had commenced at the Manna Lithium Project, located 100km east of Kalgoorlie. Earlier this year, experienced contractor Profile Drilling Services was appointed to undertake the RC drilling program which will initially comprise 20,000m of drilling. Profile is a Western Australian-based drilling services company which specialises in RC mineral exploration drilling and other mining services. Profile has mobilised the RC rig with a further diamond drilling rig planned to join the campaignin June. The Company has also completed the deployment of a mobile camp at the Manna Project to provide accommodation and infrastructure facilities for both the geology team and drilling contractors onsite. The Company anticipates, subject to the timely return of assays, to undertake a Mineral Resource update at the Manna Lithium Project following the drilling program. This is also likely to incorporate additional metallurgical test work which it is targeting to be completed in fourth quarter of 2022. Bekanntmachung • May 19
Global Lithium Resources Limited Announces That Drilling Contractor Mobilised to Manna Lithium Project Global Lithium Resources Limited announced that the contractor for the planned RC drilling program at its Manna Lithium Project located 100km east of Kalgoorlie, Profile, has mobilised to site to commence work. Key Highlights: Experienced drilling contractor, Profile Drilling Services (Profile), mobilises to Manna Lithium Project (Manna) with its reverse circulation (RC) rig to commence drilling program; Initial 20,000m program will be GL1's first drilling campaign at Manna since acquisition of project in December 2021; Results from Manna drilling campaign to be incorporated into updated Mineral Resource later this year. Earlier this year, experienced contractor Profile was appointed to undertake the RC drilling program which will initially comprise 20,000m. Profile is a Western Australian-based drilling services company which specialises in RC mineral exploration drilling and other mining services. The Company is currently completing the deployment of a mobile camp at Manna to house both the geology team and drilling contractors on site. Profile is scheduled to commence drilling next week. GL1 has undertaken a detailed study to specifically target expanding the lithium resource in this drilling program at Manna, including a field reconnaissance trip which was carried out in First Quarter 2022 to verify the campaign and to establish locations for planned infrastructure. The Manna Lithium Project hosts a maiden Inferred Mineral Resource of 9.9Mt @ 1.14% Li2O (100% basis). The Company anticipates a Mineral Resource update to follow the drilling program along with additional metallurgical test work in Fourth Quarter 2022. Recent Insider Transactions • May 10
Independent Non-Executive Chairman recently sold AU$96k worth of stock On the 6th of May, Warrick Hazeldine sold around 50k shares on-market at roughly AU$1.91 per share. This was the largest sale by an insider in the last 3 months. This was Warrick's only on-market trade for the last 12 months. Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (4 non-independent directors). Non-Executive Director Dianmin Chen is the most experienced director on the board, commencing their role in 2018. Independent Non-Executive Chairman Warrick Hazeldine was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Bekanntmachung • Apr 09
Global Lithium Resources Limited, Annual General Meeting, May 11, 2022 Global Lithium Resources Limited, Annual General Meeting, May 11, 2022, at 10:00 W. Australia Standard Time. Location: The Park Business Centre, 45 Ventnor Avenue, West Perth Australia Agenda: To consider the ratification of prior issue of shares; to consider the issue of performance rights to related party; and to discuss other matters. Bekanntmachung • Feb 15
Global Lithium Resources Limited Appoints Hayley Lawrance as Non-Executive Director Global Lithium Resources Limited announced the appointment of Ms Hayley Lawrance as Non-Executive Director. Ms Lawrance has over 20 years' experience as a legal executive, director and company secretary gained in private practice and senior, in-house roles. Her experience has focused on the Western Australian mining and resources industries. As an independent director since 2005, Ms Lawrance has developed a solid foundation in all material aspects of directorship practice, including risk, strategy, finance, governance and stakeholder management. Ms Lawrance was Partner Corporate & Resources at Allion Partners, where she spent five years as a senior legal advisor to a client base of mining and exploration companies and foreign investors. In previous roles, Ms Lawrance also advised large resources industry clients on legal and compliance, project development and corporate governance matters. As a Non-Executive Director of GL1, Ms Lawrance will oversee the legal, approvals and ESG (environment, social and governance) activities at the Company. Bekanntmachung • Feb 07
Global Lithium Resources Limited Announces 60,000M Drilling Program Commences at the Marble Bar Lithium Project Global Lithium Resources Limited announced that it has commenced a 60,000m reverse circulation drilling program, its largest to date, at the Marble Bar Lithium Project. Drilling is to be carried out by WA based drilling contractor Orlando Drilling Pty Ltd, a subsidiary of Dynamic Group Holdings Limited. The RC rig was mobilized to site last week with drilling successfully commenced. A second rig is currently being prepared and when on site, GL1 will move to running both day and night shifts at MBLP. The drilling program, the Company's first for 2022 and its largest to date, will comprise approximately 380 drill holes for an estimated 60,000m of RC drilling. Initially the program will target areas to the south of the Archer Resource and where previous drilling has identified mineralized pegmatites over a six km strike length. The planned drill holes have been broadly categorized as Priority 1 through to Priority 4 and will be drilled accordingly. The drilling will extend over a distance of two kms to the south and east of the present Archer resource area. As the program unfolds, the results of the drilling will be closely monitored and areas that demonstrate mineralisation will be followed up with additional infill holes. The drilling may also extend further to the south, where tenements have recently been geochemically sampled as a program to generate, new prospective drill targets. With such a large program Global Lithium has appointed CSA Global, a leading mining and geological consulting company, to manage the day-to-day drilling program supported by GL1's Manager of Exploration, Bryan Bourke. GL1 is also pleased to report it has completed its ~5,343 km airborne magnetics and radiometrics survey covering the tenements to the north, east and south of Marble Bar. The purpose of the airborne survey was to acquire this high-resolution geophysical data to provide greater detail of the areas geology and also the structural features that are known to control prospective mineralisation. The survey was completed on time and within budget and is now being processed by GL1's geophysical consultants, Resource Potentials, who will complete their QAQC on the data integrity and then produce the magnetic and radiometric images for use in the final interpretation phase. GL1 has now completed high resolution airborne data over a majority of the Marble Bar tenements, and this will contribute significantly to the local and regional interpretation of the geology and structure and assist in the targeting of the drilling. Bekanntmachung • Dec 22
Global Lithium Resources Limited Announces Positive Lithium Assays Results Continue Global Lithium Resources Limited reported significant lithium assay results continue to flow from its CY4Q Exploration Program at the Company's wholly owned MBLP, located 150km southeast of Port Hedland, in the Pilbara region of Western Australia. Key Highlights: Significant lithium assay results continue to be received for the CY4Q Exploration Program at the Marble Bar Lithium Project (MBLP). Results include: 8m @ 1.20% Li2O and 50ppm Ta2O5 from 40m in MBRC0208; 4m @ 2.02% Li2O and 43ppm Ta2O5 from 46m in MBRC0201; 9m @ 0.72% Li2O and 40ppm Ta2O5 from 1m and 8m @ 1.48% Li2O and 67ppm Ta2O5 from 14m in MBRC0207; and 13m @ 0.86% Li2O and 54ppm Ta2O5 from 9m in MBRC0203. Intercepts demonstrate ongoing success of the targeting exercise undertaken by Global Lithium earlier in the year and continues to demonstrate the growth potential of the MBLP, particularly south along the greenstone belt. Potential for spodumene lithium towards Brockman Zone, with a number of drillholes intercepting significant lithium mineralisation in previously unexplored parts of the project area. RC drilling now complete, with 80 holes for 9,066m completed to early December 2021 with a number of samples yet to be assayed. Many existing and newly identified lithium targets remain untested and will be a focus for the CY2022 program planned to commence in First Quarter 2022. Results to feed into the proposed 60,000m drilling campaign commencing in First Quarter 2022. Further assays have now been received from RC drilling targeting lithium at the MBLP. This drilling has stepped beyond the Archer deposit and focused on following up on the targeting efforts undertaken since Global Lithium completed its IPO in May 2021. The majority of drilling targeted geochemical and outcropping pegmatite targets, particularly along the greenstone belt, with several granite hosted targets between Archer and the Brockman Zone also tested. Drilling of pegmatite targets in granite between the Archer deposit and the Brockman Zone continues to show promise, with anomalous lithium intersected in a number of drillholes, including several significant intercepts in the area extending south-east from Archer towards the Moolyella tin field. 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 in CY2022. The success of the program indicates strong potential for future growth and provides further evidence that the MBLP is continuing to emerge as a significant spodumene lithium deposit in a premier hard rock lithium mining jurisdiction. RC drilling has now been completed and remaining lithium assays are anticipated in First Quarter 2022 subject to lab turnaround time. Results from this program will be incorporated into an updated Mineral Resource at this stage anticipated in late First Quarter 2022. The MBLP is situated close to major road infrastructure, with direct links into Port Hedland, where bulk commodities, including spodumene concentrate, are currently being exported (Figure 3). The MBLP is also located approximately 15km from the town of Marble Bar, which provides ready access to services and skills. Bekanntmachung • Nov 25
Global Lithium Resources Limited Announces Positive Lithium Assay Results Global Lithium Resources Limited reported significant initial lithium assay results from its ongoing CY4Q Exploration Program underway at the Company's wholly owned MBLP, located 150km southeast of Port Hedland, in the Pilbara region of Western Australia. Key Highlights: Significant initial lithium assay results received for the CY4Q Exploration Program at the Marble Bar Lithium Project (MBLP); While only a small number of results (from 14 drillholes) have been received to date, recent RC drilling in the Marble Bar Road reserve has highlighted multiple lithium intersections that demonstrate the potential to grow the MBLP and extend the Archer deposit, including: 14m @ 1.14% Li2O and 44ppm Ta2O5 from 11m in MBRC0181; 8m @ 0.97% Li2O and 53ppm Ta2O5 from 51m in MBRC0182 (not true width, downhole length only); 12m @ 0.64% Li2O and 50ppm Ta2O5 from 54m in MBRC0177; and 4m @ 1.55% Li2O and 70ppm Ta2O5 from 37m in MBRC0174. Bekanntmachung • Sep 24
Global Lithium Resources Limited Announces Commencement of A CY4Q Exploration Program At Its Marble Bar Lithium Project Global Lithium Resources Limited announced the commencement of a CY4Q exploration program at its Marble Bar Lithium Project (MBLP), located 150km southeast of Port Hedland, in the Pilbara region of Western Australia. The program includes approximately 10,000m of proposed RC drilling to: Undertake further drilling to seek to extend the known lithium mineralisation, including following up a number of targets identified in the RC drilling program completed earlier this year; Follow up a number of prospects identified from the previous RC drilling campaign, as well as drawing on the recent targeting work completed within the broader MBLP area, including within the Brockman Zone and towards the southern extent of the known strike of lithium mineralisation; Seek to commence early-stage exploration activities in the newly acquired tenement package to test for potential extensions of the lithium mineralisation; Continue to improve the Company's understanding on controls for spodumene pegmatite mineralisation and identify new areas for drill testing; and Follow up on the recent drilling at the Company's Twin Veins gold prospect. In developing the CY4Q exploration program, Global Lithium and Resource Potentials Pty Ltd. drew on: High resolution drone photography used to assist with identification of structures and pegmatites within the project area; A desktop interpretation to assist understanding structures in the area, as well as to assist identifying potential targets; Field mapping; Specialist geochemical interpretation of the Company's existing survey database; and Input from the team based on the drilling and work done to date. The targeting work has identified more than 100 pegmatite trends so far based on geological and geochemical interpretation, forming the foundation of the proposed drilling program. This targeting work is ongoing, with large areas within the MBLP not yet completely reviewed or inspected for targeting. These areas provide additional opportunity for Global Lithium. Earlier programs have highlighted that lithium mineralisation extended over at least 6km in strike and almost to the boundary between tenement E45/4309 and tenement E45/4724, which the Company has recently acquired. The Company is excited by the opportunity to potentially extend lithium mineralization in this southern zone into the newly acquired tenements and has developed a strategy to commence exploration in the area as part of this program. This will include soil sampling, aeromagnetic survey, drone photography and progression of approvals a similar process to the above. Nyamal Aboriginal Corporation (NAC) has recently assisted with coordination of the first phase of a heritage survey, which will enable Global Lithium to explore in a broad area of the MBLP around the Archer deposit whilst being mindful of its contractual, social and cultural obligations. The Company is grateful for the speed and efficiency in which the NAC has assisted with these surveys and looks forward to continuing to build on the positive relationship. As part of the ongoing heritage engagement, the Company is also discussing protection measures for the Two Sisters hills located in the vicinity of the Archer deposit and the Brockman Creek located in the east of the project area. The Company's current drilling program is focused outside these areas. The Company recognises that the Nyamal are key stakeholders to the project and it look forward to continuing ongoing relationship with the community as progress discussions with their representatives in a positive manner. In parallel with the CY4Q exploration program, Global Lithium has commenced a preliminary metallurgical testwork program, with compositing, crushing and HLS testwork now underway. The Company is also pursuing additional mineralogical studies to assist in the understanding of the MBLP. MBLP is close to major road infrastructure, with direct links into Port Hedland, where bulk commodities, including spodumene concentrate, are exported. The MBLP is located approximately 15km from the town of Marble Bar, which provides ready access to services and skills. Global Lithium is well funded with a cash balance of $8.6 million as at June 30, 2021. Bekanntmachung • Jul 14
Global Lithium Resources Limited Provides an Update on its Diamond Drilling Program at the Company's Wholly Owned MBLP Global Lithium Resources Limited provided an update on its diamond drilling program at the Company's wholly owned MBLP, located 150km southeast of Port Hedland in the Pilbara region of Western Australia. The objectives of the diamond drilling program were to twin several existing lithium mineralized intersections from previous RC drilling as part of the Company's Mineral Resources drilling campaign and to collect samples for studies, including mineralogy and preliminary metallurgical test work. The Company reported that drilling has now been completed at the Archer lithium deposit and the diamond rig has demobilised from site. Two holes were drilled for a total of 224.7m, which is less than the 300-400m initially planned, due to slower than anticipated penetration rates over the course of the program and enough core was collected through lithium mineralised pegmatite intervals to twin existing RC drilled intercepts and for providing enough sample for a preliminary metallurgical test work program. Initial review of the core from both diamond drillholes has shown encouraging indications of lithium mineralisation, with visible spodumene noted in pegmatite intervals during logging. These spodumene bearing pegmatite occurrences align closely with anomalous lithium assay results from the two twinned RC holes at Archer. The diamond drill core will now be transported to a laboratory in Perth and prepared for the metallurgical test work program anticipated to be completed in CY4Q. Diamond drillhole MBDD001 was designed to twin RC hole MBRC0035, which returned 15m @ 1.3% Li2O from 30m1. MBDD001 intersected spodumene bearing pegmatite between 29.8m and 45.8m within greenstone mafic amphibolite, and this intercept closely aligns with assay results from MBRC0035. Diamond drillhole MBDD002 was designed to twin RC hole MBRC0114, which returned 14m @ 1.5% Li2O from 64m1. MBDD002 intersected spodumene bearing pegmatite between 61.2m and 77.1m within greenstone mafic amphibolite, which closely aligns with assay intervals in twinned RC hole MBRC0114, and another pegmatite interval with visual spodumene was logged in the diamond core from 99.4m to 106.6m, which also corresponds to anomalous lithium assay results RC hole MBRC01141. The diamond drilling program was carried out by Topdrive Drillers Australia within a minimal drilling pad footprint and there were no safety, environmental or social incidents to report. The MBLP is situated close to major road infrastructure with direct links into Port Hedland where bulk commodities, including spodumene concentrate, are currently being exported. The MBLP is also located approximately 15km from the town of Marble Bar, which provides ready access to services and skills. Bekanntmachung • Jun 23
Global Lithium Resources Limited Provide an Update on Its RC Drilling Program Global Lithium Resources Limited provide an update on its RC drilling program at the Company's wholly owned MBLP, located 150km southeast of Port Hedland, in the Pilbara region of Western Australia. RC Program Highlights: The key objectives of this drilling program were to undertake in-fill and step-out drilling to identify
opportunities to further grow the existing JORC Inferred Mineral Resource of 10.5Mt @ 1.0% Li2O1 at the Archer Deposit and to test surrounding targets, particularly in the Brockman Zone to the east of Archer and areas of outcropping pegmatite identified during the drilling program located to the south. The Company reported that drilling has now been completed and the RC rig has demobilised from site. A total of 34 holes were drilled for 5,208m at the MBLP on E45/4309, and two holes were drilled for 246m on E45/4361 to test gold targets in the north. Topdrive Drillers have mobilised a diamond drill rig to site to undertake a diamond program of approximately 300-400m starting this week. The objectives of the diamond drilling program are to twin several existing lithium mineralised intersections from RC drilling as part of the Company's Mineral Resources drilling campaign and to collect samples for preliminary metallurgical testwork. Bekanntmachung • Jun 01
Global Lithium Resources Limited Provides an Update on Its 2021 RC Drilling Program Global Lithium Resources Limited provided an update on its 2021 RC drilling program currently underway at the Company's wholly owned Marble Bar Lithium Project (MBLP), located 150km south east of Port Hedland, in the Pilbara region of Western Australia. Global Lithium commenced its RC drilling campaign at the MBLP in tandem with the Company's successful listing onto the ASX earlier this month. The objectives of the drilling program are to undertake in-fill drilling to better understand the distribution of lithium mineralisation at the Archer deposit, and conduct step-out drilling to test for extensions to the Archer deposit along strike and at depth. The Company reported that the drilling program, managed by Resource Potentials, is progressing well, with no reported safety, environmental or social incidents. The program is progressing on schedule and within budget, with 24 holes and 4,126 metres drilled to date. Given the positive progress of the RC program and the ongoing identification and ranking of targets, surrounding the Archer deposit, Global Lithium has elected to extend the RC program to approximately 5,000m (an increase of approximately 1,000m), with all activity being undertaken in the Company's current approvals footprint. The MBLP is situated close to major road infrastructure, with direct links into Port Hedland where bulk commodities, including spodumene concentrate are currently being exported. The MBLP is also located approximately 15km from the town of Marble Bar, which provides ready access to services and skills. 
