THE BOURSE WHISPERER: Global Lithium Resources (ASX: GL1) has had tenements E45/5843 and E45/5812 granted, increasing the land position of the company’s Marble Bar Lithium Project (MBLP) by more than 91 square kilometres.
The tenements are located immediately to the north and east of the project’s Archer deposit and are prospective for lithium bearing pegmatites.
Global Lithium said it was looking forward to commencing exploration in the area as it ramps up activities at the MBLP following completion of a recent $13.6 million equity raising and introduction of Yibin Tianyi Lithium Industry Co Ltd (Yibin Tiianyi) as a cornerstone investor.
The company thanked the Nyamal Aboriginal Corporation (NAC) for working with it to enter into agreements enabling a pathway to exploration of these tenements in a constructive manner, adding that it looks forward to continuing to build the relationship over time.
“Global Lithium continues to deliver on the strategy set out when we listed on the ASX earlier this year,” Global Lithium Resources managing director Jamie Wright said in the company’s ASX announcement.
“The grant of these tenements is an important step for the company to continue to investigate the size potential for the MBLP, particularly given our current geological model which indicates potential for lithium bearing pegmatites in this new area.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE