Atlantic Lithium has announced additional assay results from the resource and exploration drilling programme underway at the Ewoyaa lithium project in Ghana.
The assay results were received for an additional 2,900 metres of reverse circulation drilling at the Ewoyaa Main and Grasscutter North targets. Atlantic Lithium said the targets were drilled as part of the ongoing 37,000 metre resource evaluation and exploration reverse circulation and diamond core drilling programme.
Broad, high-grade drill intersections were returned from the Ewoyaa Main deposit, including 69 metres at 1.34 per cent lithium oxide (Li2O) from a depth of 129 metres; 67 metres at 1.2 per cent lithium oxide; 59 metres at 1.07 per cent lithium oxide; and 59 metres at 0.95 per cent lithium oxide. The additional results also extended the mineralisation by a further 40 metres west at the Grasscutter North target.
The AIM-listed firm said the sample preparation was completed by Intertek Ghana and assay by Intertek Perth with all reported results passing QA/QC protocols, providing confidence in reported results.
The planned 37,000 metres programme consists of: approximately 13,000 metres in 124 collars of exploration drilling; 18,000 metres in 100 collars of resource expansion and Inferred to Indicated infill drilling.
The results also included a 5,000 metres in 60 collars of Indicated to Measured infill drilling for the first 1.5 years of mine life; and 1,000 metres in 6 collars of geotechnical diamond drilling. The majority of the programme is RC, with approximately 3,000 metres to 5,000 metres of diamond drilling planned.
Mineralisation Remains Open Along Strike
Lennard Kolff said the reported high-grade pegmatite intervals were up to 69 metres long below the Ewoyaa Main deposit and outside of the currently defined resource estimate. “Furthermore, mineralisation remains open along strike and at depth.”
“These latest assays continue to demonstrate the potential for resource growth outside of the current resource and for an extended mine life beyond the metrics of the scoping study reported in December 2021 and prior to the updated resource estimate of 30.1Mt @ 1.26% Li2O, announced in March 2022.”
Lennard Kolff
The AIM-listed firm noted that approximately completed is the 27,000 metres of the planned 37,000 metres drilling programme at Ewoyaa. Drilling is ongoing, with further assays pending and the programme is targeted for completion in the third quarter. The results follow on from an upbeat drilling announcement released a couple of weeks ago from the AIM-traded company.
“It is clear from Ewoyaa’s ongoing positive drilling results, available off take capacity combined with the pre-feasibility study targeted for completion in Q3 2022 and our funding agreement with Piedmont Lithium, we are in an exceptional position to benefit from the continued global lithium demand.”
Lennard Kolff
Recall that due to the growing mineralisation of Atlantic Lithium’s Ewoyaa project, the Minerals Income Investment Fund (MIIF) approached the firm to enter into discussions regarding a potential investment into the company.
However, at the time, the company stressed that in the recent meeting with the MIIF, both parties signed a non-disclosure agreement to begin discussions, “however no discussions have occurred at this stage”.
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