Atlantic Lithium reports Ewoyaa MRE upgrade

Highlights

• 47% increase in MRE to 21.3 million t at 1.31% Li₂O reported in accordance with the JORC Code (2012) in indicated and inferred status at the Ewoyaa deposit.
• The total resource grade remains unchanged, highlighting its robust geological fundamentals and the estimate includes 5.2 million t at 1.39% Li₂O of indicated mineral resource.
• Significant exploration upside within broader 560 km² Cape Coast lithium portfolio; including historic 1.48 million t at 1.67% Li₂O Egyasimanku Hill deposit.
• Current resource upgrade based on approximately 56 500 m of drilling; an additional 28 000 m of infill and extensional drilling completed with results pending are not included in this resource upgrade.
• Mineralisation remains open at depth and along strike with additional untested pegmatites within the immediate deposit area, providing potential for further resource upgrades.
• Regional exploration and target definition on going with four Auger rigs on site, with resource drilling to re-commence in early 2022.
• Resource exceptionally well located; adjacent high-power transmission lines, within 1 km of national highway and within 110 km along sealed road to the operating Takoradi deep-sea port.

Vincent Mascolo, CEO of Atlantic Lithium, said: “We are pleased to have increased Ghana's first lithium resource by nearly 50% to 21.3 million t at 1.31% Li₂O and will continue to further enhance this compelling project with ongoing drilling programmes.

“With some 28 000 m of infill and extensional drilling not included in the current resource estimate and with mineralisation open at depth and along strike we are confident of further resource upgrades.

“The current resource can be reported at a significantly larger tonnage by reducing the cut-off grade – for example, 27.1 million t at 1.09% Li₂O at a 0.25% Li₂O cut-off. Future studies will assess the benefits of increased production profiles to the overall project economics by reducing the cut-off grade.

“Due to the coarse nature of the spodumene dominant mineralisation, metallurgical test-work to date has consistently delivered high-purity, low contaminants >6% Li₂O spodumene concentrate at a coarse 6.3 mm crush utilising conventional DMS gravity separation; boding well for low capital, operating and carbon intensities.

“The mineral resource is exceptionally well located, being only 1 km from the sealed national highway and 110 km from the operating deep-sea port of Takoradi with adjacent grid power; it is challenging to find other lithium pegmatite projects better located.

“Delivery of the upgraded 21.3 million t at 1.31% Li₂O MRE is an important de-risking milestone for this industry standout project. With Ewoyaa being fully funded to production through our agreement with Piedmont Lithium, this upgrade highlights the exceptional potential of the project and the value that it brings to the company.”

Read the article online at: https://www.globalminingreview.com/exploration-development/01122021/atlantic-lithium-reports-ewoyaa-mre-upgrade/