Global Lithium Resources Ltd (ASX:GL1) has completed the acquisition of two Pilbara lithium tenements to expand its exploration portfolio.
The E45/4274 and E45/4669 tenements are immediately south of the company’s existing Marble Bar Lithium Project and almost double the size of the explorer's landholding.
Global Lithium managing director Jamie Wright said: “Since announcing the acquisition in June, we have been waiting eagerly to commence exploration on these highly prospective tenements.
“We intend to incorporate them into our programs and are excited to have the opportunity to explore for further lithium mineralisation.”
The new tenements
Through the acquisition of lithium tenement E45/4724, GL1 increases its holding over the North Star Basalt greenstone belt from 11 kilometres to more than 25 kilometres of strike, extending to the south.
This belt is already proven to host lithium-bearing pegmatites at the company’s Archer deposit and other outcropping spodumene-bearing pegmatites within GL1’s existing tenements.
Meanwhile, previous exploration on tenement E45/4669 has identified a lithium-bearing pegmatite swarm across a 3.5-kilometre-long and 4-kilometre-wide zone.
Today's acquisition comes just weeks after Global Lithium completed a reverse circulation program at Marble Bar — its first drilling campaign since listing on the ASX in May.
The Pilbara-focused lithium explorer’s Marble Bar project is its primary exploration asset, and this acquisition significantly increases the project’s scope and size.
Thanks to work at Marble Bar’s Archer deposit, Global has established a maiden inferred mineral resource, comprising 10.5 million tonnes of material, grading 1% lithium oxide.
Overall, Global Lithium believes the maiden resource confirms Marble Bar as a significant new greenfields lithium discovery.
