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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 (ASX: BRB) in December 2021, GL1 engaged Snowden Optiro to undertake a Mineral Resource estimate using data compiled by Breaker Resources, including RC and DD results.
Highlights
- Significant intervals of lithium mineralisation intersected from early reverse circulation (RC) drilling at the Manna Lithium Project (Manna)
- The program validates previous drilling and resource information, further extending the orebody at depth which remains open (refer Figure 2.).
- Drilling intercepts across the same Pegmatite shows continuity with depth:
- MRC0028 returned 12m @ 0.75% Li2O from 41m
- inc. 4m @ 1.41% Li2O from 41m
- MRC0029 returned 11m @ 0.83% Li2O from 123m
- inc. 4m @ 1.29% Li2O from 126m
- and 1m @ 1.12% Li2O from 133m
- MRC0035 returned 15m @ 0.91% Li2O from 221m
- inc. 3m @ 1.39% Li2O from 221m
- and 2m @ 1.16% Li2O from 229m
- and 1m @ 1.02% Li2O from 234m
- Additional pegmatite intercepts showing continuity with depth:
- MRC0034 returned 13m @ 0.84% Li2O from 46m
- MRC0035 returned 6m @ 1.09% Li2O from 172m
- Manna East Pegmatite showing increasing width with depth:
- MRC0032 9m @ 1.29% Li2O from 110m
- Ongoing drilling will further target lithium mineralised pegmatites both along strike and at depth
- Experienced drilling contractor, Mt Magnet Drilling (Mt Magnet), commences diamond drilling (DD) program at Manna
- Initial 4,000m program will be GL1’s first DD campaign at Manna since acquisition of project in December 2021
- The diamond core drilling is specifically targeting the Pegmatites at depths below the RC drilling program currently underway
- MRC0028 returned 12m @ 0.75% Li2O from 41m
Growing multi-asset West Australian lithium company Global Lithium Resources Limited (ASX: GL1, “Global Lithium” or “the Company”) is pleased to announce the first lithium assay results from its initial RC drilling program at the Manna Lithium Project, located 100km east of Kalgoorlie.
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.
Figure 1 – Showing the resource expansion drilling plan.
Figure 2 – Cross Section A-B showing the interpreted pegmatites projected against assay results along the drill trace line.
Diamond Drilling Commences at MannaIn addition, the Company is pleased to report 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 Q3, 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 Q4 2022.
Click here for the full ASX Release
This article includes content from Breaker Resources NL (ASX: BRB), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
BRB:AU
OPINION — Goldenomics 103: Gold Protects and Performs
By Darren Brady Nelson
US President Donald Trump’s “Liberation Day” tariffs certainly caused quite the stir in the markets on April 2.
Gold dropped about 6 percent, and silver 12 percent. A week later, a pause was announced, which ended on August 1. Gold and silver have since risen approximately 11 percent and 24 percent, respectively.
Six month gold and silver price performance.
Source: Trading Economics (gold) and (silver).
Unless you are a professional, or even amateur, trader, it is best to look at gold and silver investment with a perspective of years or decades, rather than just days, weeks or even months. Since the start of the COVID-19 panic in March 2020, gold and silver have exploded 123 percent and 192 percent.
10 year gold and silver price performance.
Source: Trading Economics (gold) and (silver).
In the shorter term, the gold price is driven by what economist John Maynard Keynes called “animal spirits.” In the longer term, it is driven by “monetary spirits.” And not just as protection, but also for performance. The Presidential Gold Guide highlights both in chapters four and five.
Source: Fisher Liberty Gold.
Gold unsurprisingly protects
Economist and investor Mark Skousen has wisely noted that: “Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.” Gold has more than countered the results of inflation, as measured by CPI, and the drivers of inflation, as measured by M3.
And the numbers back that up. The Gold Protects chart below compares the gold price, CPI and M3 in terms of cumulative growth of each from 1971 to 2025. That is throughout the whole era of gold as an investment, which officially started in 1974 once private ownership was restored.
During this era, gold grew by 541 percent, CPI by 214 percent and M3 by 384 percent. Annual average growth for gold was 10 percent, CPI at 4 percent and M3 at 7 percent. Maximums were 92 percent, 14 percent and 29 percent, respectively. CPI only failed to grow twice, ie. 0 percent in 2009 and 2015. M3 decreased twice, by -4 percent in 2023 and -6 percent in 2024.
Gold surprisingly performs
The highly respected In Gold We Trust (IGWT) report states: “When dealing with the specific level of gold allocation, it is advisable to differentiate between safe-haven gold and performance gold. The Big Long strategy emphasizes the potential of performance gold in the coming years.”
IGWT thus recommends an investment portfolio "rule of thumb" that includes 15 percent in “safe-haven gold” and 10 percent in “performance gold.” The Gold Performs chart below compares gold price, S&P 500 and nominal GDP in terms of cumulative growth of each from 1971 to 2025.
Gold grew by 541 percent, the S&P 500 by 484 percent and GDP by 339 percent. Annual average growth for gold was 10 percent, with the S&P 500 at 9 percent and GDP at 6 percent. Maximums were 92 percent, 45 percent and 14 percent, respectively. Gold did have a higher standard deviation of 27 percent, compared to 17 percent for the S&P 500 and 3 percent for GDP.
Animal and monetary spirits
Gold protects as a hedge or safe haven, not just from inflation, but from the flip side of that same coin of the boom-bust cycle. Both are driven, in the longer term, not by “animal spirits,” but by “monetary spirits.”
Inflation is when money inflation has a widespread impact as price inflation. A bubble is when money increases have a more concentrated impact such as in certain asset values. The bubble eventually bursts when “monetary spirits” are finally reined in by monetary realities.
I say “monetary spirits” because of the role of fiat money, as indicated by, say, M3. When money supply outstrips money demand in a localized way, then that is a bubble, and when in a general way, that is inflation.
The former shows up in certain asset, wholesale and/or producer prices, whilst the latter shows up in CPI. Asset prices include the S&P 500. But nominal GDP is also "ginned up" as it is ultimately a price times quantity measure as well. Price is expressed in money terms.
Conclusion
Gold can have ups and downs, as standard deviation indicates, due to the “animal spirits” of fear and uncertainty, that tend to be daily, weekly or monthly. Yet gold both protects and performs due to the “monetary spirits” of inflation and boom-bust, which tend to be decennially.
In particular, gold performs when the S&P 500 does not, like in the aftermaths of the 2001/2002 dot-com collapse, the 2008/2009 global financial crisis and 2020/2021 COVID-19 lockdowns.
Therefore, when it comes to gold, “follow the money” of central bank “money printing” and fractional reserve bank “fountain pen money,” for both superior inflation protection and boom-bust performance.
And besides, Skousen rightly "begged the question" as follows: “Gold and Silver have always had value, never gone to zero. Can you say the same for stocks and bonds?”
About Darren Brady Nelson
Darren Brady Nelson is chief economist with Fisher Liberty Gold and policy advisor to The Heartland Institute. He previously was economic advisor to Australian Senator Malcolm Roberts. He authored the Ten Principles of Regulation and Reform, and the CPI-X approach to budget cuts.
Click here to read Goldenomics 101: Follow the Money, and here to read Goldenomics 102: The Shadow Price of Gold.
