Atlantic Lithium provides exploration update

Published by Jessica Casey, Editor
Global Mining Review, Tuesday, 19 July 2022 10:30

Atlantic Lithium Ltd, a funded African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, has announced additional assay results from the ongoing resource and exploration drilling programme at the Ewoyaa Lithium Project in Ghana, West Africa.

Highlights

Assay results received for an additional 4000 m of reverse circulation (RC) drilling completed at the Ewoyaa Main and Grasscutter North targets.
Broad, high-grade drill intersections returned at the Ewoyaa Main deposit, including highlights of:
- GRC0665: 46 m at 1.21% Li₂O from 115 m.
- GRC0668: 43 m at 1.08% Li₂O from 126 m.
- GRC0672: 31 m at 1.43% Li₂O from 179 m.
- GRC0666: 10m at 1.39% Li₂O from 112 m (mineralisation open at depth; further assays pending).
Newly reported drilling results fall outside the current JORC (2012) compliant mineral resource estimate (MRE) and extend mineralisation a further 75 m downdip at the Ewoyaa Main deposit, providing confidence in future resource growth potential.
Approximately 24 900 m of the planned 37 000 m resource evaluation and exploration RC and diamond core drilling (DD) programme completed to date and planned for completion in 3Q22.
Approximately 8560 m of assay results reported to date from the ongoing 37 000 m planned drilling programme; ongoing news flow of drill results.
The company announced a significant resource upgrade in March 2022 to 30.1 million t at 1.26% Li₂O for the Ewoyaa Lithium deposit, which represented a 42% increase from the previous MRE. This included 20.5 million t at 1.29% Li₂O in the indicated category and was reported in accordance with the JORC Code (2012).

Lennard Kolff, Interim CEO of Atlantic Lithium, said: “We are pleased to report ongoing and significant high-grade pegmatite intervals over broad widths below the Ewoyaa Main deposit and outside of the currently defined resource volume, giving us confidence to deliver future resource upgrades for the project.

“Remaining assays are pending for holes GRC0666 and GRC0667 which have long intervals of visible spodumene reported and initial high-grade results received of 10m at 1.39% _Li2O in GRC0666 with mineralisation open at depth.

“Drilling at the Ewoyaa project is ongoing, with approximately 24 900 m of the planned 37 000 m programme completed to date, with further assays pending and the programme targeted for completion this quarter.

“Our ongoing exploration programme demonstrates considerable scope for resource growth and the potential for an extended mine life beyond the metrics of the scoping study. This, in conjunction with further economic benefits from increased spodumene concentrate pricing, continue to demonstrate Ewoyaa as an industry-leading asset.

“With the pre-feasibility study targeted for completion in 3Q22, and the project being funded to production through our agreement with Piedmont Lithium, we feel the company is ideally positioned to benefit from the growing lithium demand.”

Read the article online at: https://www.globalminingreview.com/exploration-development/19072022/atlantic-lithium-provides-exploration-update/