Skip to main content

Atlantic Lithium announces highest reported lithium grade to date

Published by , Editor
Global Mining Review,

Atlantic Lithium Ltd has announced assay results from the resource and exploration drilling programme now completed at the Ewoyaa Lithium Project in Ghana, West Africa.


  • Assay results reported for 5668 m of infill and exploration reverse circulation (RC) drilling completed at the Ewoyaa Main, Grasscutter East, Grasscutter West and Anokyi deposits, part of the now-completed resource evaluation and exploration RC and diamond drilling (DD) programme.
  • Newly reported drilling results fall both within and outside the currently defined 30.1 million t @ 1.26% Li2O Ewoyaa JORC (2012) compliant mineral resource estimate (MRE), providing further confidence in resource conversion at the Ewoyaa Main deposit, and extending mineralisation downdip at the Grasscutter East, Grasscutter West, and Anokyi deposits.
  • Highest reported single RC assay result to date of 4.52% Li2O over 1 m in hole GRC0704 from 54 m and 3.99% Li2O from 53 m.
  • Broad, high-grade infill drill intersections within the current MRE reported at the Ewoyaa Main deposit including highlights of:
    • GRC0697: 95 m at 1.48% Li2O from 5 m
    • GRC0703: 87 m at 1.61% Li2O from 0 m
    • GRC0701: 78 m at 1.67% Li2O from 12 m
    • GRC0710: 74 m at 1.65% Li2O from 15 m
    • GRC0692: 76 m at 1.43% Li2O from 14 m
    • GRC0720: 62 m at 1.34% Li2O from 28 m
    • GRC0722: 57 m at 1.31% Li2O from 23 m
    • GRC0717: 47 m at 1.57% Li2O from 43 m
    • GRC0696: 44 m at 1.41% Li2O from 7 m
    • GRC0712: 72 m at 0.85% Li2O from 18 m
    • GRC0700: 44 m at 1.32% Li2O from 46 m
    • GRC0725: 43 m at 1.13% Li2O from 44 m
    • GRC0706: 27 m at 1.57% Li2O from 38 m
    • GRC0704: 23 m at 1.4% Li2O from 36 m
    • GRC0711: 23 m at 1.38% Li2O from 39 m
    • GRC0696: 30 m at 0.94% Li2O from 58 m
    • GRC0704: 16 m at 1.65% Li2O from 73 m
    • GRC0724: 21 m at 1.18% Li2O from 30 m
    • GRC0694: 20 m at 1.05% Li2O from 24 m
  • Broad, high-grade exploration drill intersections outside of the current MRE, reported at the Grasscutter East, Grasscutter West and Anokyi deposits, including highlights of:
    • GRC0721: 45 m at 1.16% Li2O from 274 m
    • GRC0695: 29 m at 1.72% Li2O from 141 m
    • GRC0705: 25 m at 1.49% Li2O from 171 m
    • GRC0693: 23 m at 1.18% Li2O from 274 m
    • GRC0699: 14 m at 1.66% Li2O from 213 m
    • GRC0716: 13 m at 1.36% Li2O from 302 m
    • GRC0721: 11 m at 1.44% Li2O from 177 m
    • GRC0718A: 14 m at 0.93% Li2O from 193 m
    • GRC0713: 10 m at 1.2% Li2O from 172 m
    • GRC0709: 10 m at 1.02% Li2O from 176 m
  • Approximately 21 000 m of results from the 47 000 m drilling programme reported to date.
  • Recently announced pre-feasibility study delivers exceptional financial outcomes for a 2 million tpy operation, producing an average approximately 255 000 tpy of 6% Li2O spodumene concentrate (SC6) over a 12.5-year operation:
    • LOM revenues exceeding US$4.84 billion, post-tax NPV8 of US$1.33 billion, IRR of 224% over 12.5 years.
    • US$125 million capital cost estimate with an industry-leading payback period of <5 months.
    • C1 cash operating costs of US$278/t of 6% lithium spodumene concentrate Free on Board (FOB) Ghana Port, after by-product credits.
    • Average Life of Mine (LOM) EBITDA of US$248 million per year.
    • 18.9 million t at 1.24% Li2O maiden ore reserve.
    • Average annualised US$1359/dry metric tonne SC6 pricing used.
  • Significant potential for resource upgrades and exploration upside; potential for project metrics to substantially improve with increased scale.

Commenting on the company’s latest progress, Lennard Kolff, Interim Chief Executive Officer of Atlantic Lithium, said:

"We are delighted to report ongoing high-grade drill intersections, both within the infill programme targeting conversion of indicated to measured resources and within the exploration programme targeting resource growth outside the current MRE.

“The latest infill drilling results from within the current Resource at the Ewoyaa Main deposit have returned multiple high-grade pegmatite intervals over 1.5% Li2O and up to 95m long with the hole ending in mineralisation, providing further confidence in future Resource to Reserve conversion.

“Exploration drilling outside of the current resource has returned multiple intersections, including highlights of 29 m at 1.72% Li2O and 25 m at 1.49% Li2O at the Anokyi deposit, 45 m at 1.16% Li2O at the Grasscutter West deposit, and 23 m at 1.18% Li2O at the Grasscutter East deposit. These results reaffirm the significant growth potential at the Ewoyaa Project, which we hope to unlock.

“We are thrilled to report our highest-grade RC drilling result to date at the Ewoyaa Project of 4.52% Li2O over 1m, including an adjacent 1 m interval of 3.99% Li2O in infill drilling at the Ewoyaa Main deposit.

“We anticipate further news flow from pending drilling results into the end of the year and are targeting a resource upgrade at the end of 2022 or early 2023, dependent on lab turn-around time. The increased resource estimate will inform a definitive feasibility study, targeted for completion in mid-2023.

“With the pre-feasibility study now delivered, the mining licence application submitted, ongoing positive drilling results and with the support of our funding agreement with Piedmont Lithium, we feel the company is ideally positioned to benefit from the unprecedented levels of lithium demand that are expected over the coming years.”

Read the article online at:

You might also like


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

African mining news Lithium mining news