Global Battery Metals (GBML.V) is an exploration company with a focus on metals that support the rapid evolution to battery power. The company maintains economic interests in four battery metal projects:
- an option to acquire up to a 90% in the North-West Leinster lithium property in Ireland
- a 100% interest in the Lithium King property in Utah
- an option to acquire up to a 100% interest in the La Poile lithium project in Newfoundland
- a 55% stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million.
Today, the company announced high grade lithium assays from surface samples from the Leinster Lithium Project in Ireland.
Here are highlights:
- Of the 66 total surface samples analyzed, assay results show that 47 returned grades above 1% Li2O – with grades as high as 3.75% and 3.63%
- Knockeen and Carriglead Prospects are reported at:
- Knockeen: Out of a total of 56 samples, 41 samples graded above 1% Li2O, of which 20 graded above 2% Li2O and of which two graded above 3% Li2O (Sample AES 63003 (3.63% Li2O) and Sample AES 63033 (3.75% Li2O))
- Carriglead: out of a total of 10 samples, six samples graded above 1% Li2O, of which one sample analysed above 2% Li2O (Sample AES63504 (2.09% Li2O))
- The program of intensive prospecting has consolidated the extent of the spodumene pegmatite boulder train at surface and significantly enhanced the resolution of the dispersion zone
- The known extent of the boulder train is now over 1km in length from NE to SW, 0.5km from NW to SE and is still open in all directions at Knockeen
“The high-grade assay results from our most recent surface sampling program are extremely encouraging and reassure our early diligence in the Project,” said Michael Murphy, Chief Executive Officer of GBML. “The strong concentration of confirmed lithium-bearing pegmatites is helping the team target the source and plan a strong drilling campaign to test the limits of the Property. We look forward to receiving our overburden assay results.”
The stock is currently up over 30% at time of writing with over 1,000,000 shares traded.
What makes this interesting is the technicals and the large volume accompanying it. The stock generally sees average volume of 57,000 shares traded.
A breakout is set to be confirmed by the end of the trading day. The stock has printed a double bottom pattern and has formed a higher low. The breakout occurred with a break above $0.15. Going forward, as long as we remain above this zone, a new uptrend is in play. A pullback down to $0.15 is possible, and we shall see if buyers step in to defend.
To the upside, we have resistance at $0.25.