Western Australian lithium developer Global Lithium Resources [ASX:GL1] released its second preliminary metallurgical test work results for its flagship Marble Bar Lithium Project.
The miner said that its whole floatation test work achieved a grade of 5.76% Li2O, with a recovery rate of 85%.
GL1 shares were down 4% in late Friday trade.
Despite today’s slump, GL1 shares have gained nearly 600% in the past 12 months.
Source: TradingView
Global Lithium reveals second round of metallurgical test results
Global Lithium said its most recent preliminary metallurgical test work for its flagship Marble Bar Lithium Project (MBLP) received ‘excellent results’ for its diamond core samples of lithium mineral spodumene.
What does ‘excellent’ mean?
Produced grades and recoveries met industry expectations.
Global Lithium Managing Director Ron Mitchell stated:
‘This second round of preliminary results from the ongoing metallurgical test work for our MBLP continue to impress with grades and recoveries produced meeting industry expectations. Achieving lithium recoveries of 85% is certainly something we are excited about. These results, as did the initial results released in August, fully support the prospect of MBLP becoming a standalone lithium operation in the years to come.’
Results consisted of a head assay of 1.17% Li2O, made from two PQ size drill holes, MBDD001 and MBDD002.
Sample MBDD001 was found to weigh 50kg with a grade of 1.02% Li2O, while sample MBDD002 had a weight of 20kg, with a grade of 1.50% Li2O.
GL1 offered further context:
‘Spodumene normally appears in 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.’
The testing work was carried out by BGRIMM Technology Group in Beijing and consisted of a mineralogy study and a series of condition optimal tests.
Other highlights included:
- ‘Under the grind size 70% passing 74μm,a concentrate grade of 5.76% Li2O and recovery of 85.28% Li2O were obtained in the closed flotation circuit
- ‘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’
GL1 is cautiously optimistic of test works
Aside from listing these results, GL1 also set the forewarning that the test work completed doesn’t account for changes in performance when the full plant is scaled up and operating.
In other words, the tests are merely ‘indications’ of processing for performance for those samples tested on those two drill holes.
GL1 says it’ll still need to improve test work on other elements of gangue minerals, improve the lithium recovery grade, investigate water and flotation performance, grindability, and recovery of other minerals (beryllium, tantalum, and niobium).
Lithium demand outlook strong on burgeoning EV sales
Have you seen more Teslas lately?
It’s likely you have.
Tesla sales — and EV sales broadly — are rising.
Vehicle manufacturers are madly securing supply chain deals, and governments are throwing out funding programs for EV initiatives across the globe.
The US, for instance, is allocating US$20 billion in low-interest loans while Biden campaigns for the importance of renewable energy.
And yet our energy expert Selva Freigedo believes the global push for EVs could lead to a battery metals supply crunch.
So can investors play this to their advantage?
Check out ‘Three Ways to Play the Great EV Battery Race’ for free here.
Regards,
Kiryll Prakapenka,
For Money Morning
