Global Lithium Resources (GL1) is on track to complete the definitive feasibility study (DFS) for its flagship Manna lithium project.
The Manna project’s DFS is scheduled for release in the first half of the 2024 calendar year (H1 CY24).
It will incorporate an updated mineral resource that is planned for release in the second quarter of CY24. The imminent mineral resource estimate will include all the results from the recently completed drilling program.
“GL1 is in a strong position and is on track to reach several major project milestones in 2024,” Global Lithium managing director Ron Mitchell said.
“This quarter, we will announce the remainder of the drilling results from the ~60,000m CY23 drilling program at the Manna lithium project, paving the way for an update to the mineral resource estimate and mine schedule.
“Coupled with our ongoing metallurgical studies, these updates will form integral parts of the DFS.”
Global Lithium also continues to progress environmental approvals, Native Title negotiations with the Kakarra Part B Traditional Owners, and discussions with potential offtake partners who are seeking to secure spodumene supply.
Fauna and flora surveys were completed across Manna during 2023, with the preliminary results finding no significant impact to any priority flora and fauna species.
An array of heritage surveys were also completed across the Manna mining lease application, with no heritage sites found to have an impact on the project.
“The company has put a tremendous effort in advancing key approvals on multiple fronts, and we anticipate execution and receipt of these key approvals and agreements in H1 CY24,” Mitchell said.
“We have recently seen several new and existing individual and institutional shareholders take advantage of an opportunity to establish and or increase their holdings within the company.
“GL1 is well funded and has a clear strategy in place in relation to the continued development of the Manna lithium project which we anticipate can withstand the current lithium market conditions and related near term headwinds.
“We are excited by the opportunities ahead for the company in 2024 and look forward to keeping shareholders well informed of our progress.”
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