Global Lithium Resources is set to acquire the Talga gold project in the Pilbara region of Western Australia.
The acquisition comprises seven strategic tenements adjacent to Global Lithium’s Marble Bar lithium project and is located in a region known for being highly prospective for gold, base metals and lithium.
The acquisition will consolidate a 12km trend of gold in soil geochemical anomalies along the northwest of the Mt Edgar Batholith area, including the Twin Veins gold prospect that Global Lithium has owned since 2021.
“The identified alteration and minor mineralisation within the granite plug next to the Twin Veins prospect is interpreted to be at an intermediate level within a porphyry style mineralised system with a geometry similar to the Spinifex Ridge Porphyry deposit, dipping shallowly to the southeast,” Global Lithium said.
“The acquisition of the Talga project provides Global Lithium with exploration exposure to any potential deeper parts of the system, tenements covering prospective ground between Twin Veins and the Spinifex Ridge Porphyry molybdenum-copper-silver deposit, Cord copper prospect, as well as further near surface vein hosted gold mineralisation identified at the Razorback prospect.”
Global Lithium executive chairman Ron Mitchell said acquiring Talga provides a low risk, cost efficient opportunity for the company to expand its exposure to minerals and metals besides lithium.
“There is no better time for Global Lithium to consolidate and investigate the prospectivity of Talga alongside our existing Marble Bar tenements,” Mitchell said.
“Interest in the region is high and market conditions for gold and base metals are very favourable.”
While the Manna lithium project will remain Global Lithium’s top priority, Mitchell expressed excitement over expanding the company’s exposure to gold and base metals.
“We look forward to leveraging our in-house capabilities and external partners to unlock value from these additional tenements while the lithium market is facing near term challenges,” he said.
Talga’s owner, Octava Minerals, will receive $200,000 in cash and $200,000 in Global Lithium ordinary shares for the seven tenements.
Octava managing director Bevan Wakelem said divesting Talga allows the company to focus on developing its Yallalong antimony project and Byro rare earths project, both located in WA.
“The transaction provides the best opportunity for unlocking potential gold and base metal resources at Talga by combining the two highly prospective areas that are adjoining, while retaining an interest via our shareholding,” Wakelem said.
“Combining the two landholdings creates a 12 km trend of anomalous gold in soils running from Razorback at Talga west to Twin Veins and Douglas Find prospects held by Global. Talga is also prospective for base metals.”
Global Lithium has commenced discussions with interested parties that may wish to fund further gold and base metal exploration activities at Talga.
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