The global transition to renewable energy has significantly boosted the demand for lithium, a critical component in electric vehicle batteries.
Amidst this backdrop, Atlantic Lithium, an African-focused exploration and development company, has made a landmark announcement: an increase in the Mineral Resource Estimate (MRE) at its flagship Ewoyaa Lithium Project in Ghana.
This development not only reinforces Ewoyaa’s standing as a leading hard rock lithium project but also underscores the growing importance of Africa in the global lithium market.
Atlantic Lithium’s Executive Chairman, Neil Herbert, expressed his satisfaction with the latest resource update.
“We are pleased to report an increase in the Mineral Resource for the Ewoyaa Lithium Project to 36.8Mt at 1.24% Li2O, which reaffirms Ewoyaa’s status as one of the leading hard rock lithium projects.”
Neil Herbert, Atlantic Lithium’s Executive Chairman
This update is a testament to the project’s potential and the diligent efforts of the Atlantic Lithium team.
The recent increase follows a focused drilling program that was primarily aimed at supporting mine planning activities rather than expanding the resource base. Despite this, the identification of the Dog-Leg target has added near-surface tonnes to the Ewoyaa Resource.
This “lucky strike” at Dog-Leg contributed an additional 891,000 tonnes, bringing the total resource to 36.8Mt at 1.24% Li2O.
According to Neil Herbert, the updated MRE includes a substantial portion of the resource in the higher confidence Measured and Indicated categories.
“Specifically, 81% of the total resource now falls within these categories, with 3.7Mt at 1.37% in the Measured category, 26.1Mt at 1.24% in the Indicated category, and 7.0Mt at 1.15% Li₂O in the Inferred category.”
Neil Herbert, Atlantic Lithium’s Executive Chairman
This shift reflects the successful conversion of Inferred resources to higher confidence categories through targeted drilling programs conducted in 2023 and the first half of 2024.
The targeted drilling program also involved sterilization drilling to support the design of the plant and haul roads, ensuring the project’s infrastructure is robust and well-planned. The identification of the Dog-Leg target during this process has been a significant bonus, revealing a shallow-dipping, near-surface mineralized pegmatite body with a true thickness of up to 35 meters.
Future Prospects and Expansion
Atlantic Lithium’s strategic focus remains on advancing Ewoyaa towards shovel-readiness. However, the company is acutely aware of the significant potential within its broader exploration portfolio.
“While our current focus remains firmly on advancing Ewoyaa towards shovel-readiness, we recognize the significant potential across our exploration portfolio to increase the Resource further.”
Neil Herbert, Atlantic Lithium’s Executive Chairman
To capitalize on this potential, Atlantic Lithium has planned step-out drilling at five priority deposits and identified one new exploration target for initial reverse circulation (RC) evaluation. These initiatives aim to further expand the resource base, enhancing the project’s long-term viability and economic prospects.
The Ewoyaa Lithium Project holds immense promise for Ghana’s economic development. As the country prepares to host its first lithium mine, the potential economic benefits are significant. The project is expected to create jobs, boost local economies, and contribute to Ghana’s GDP.
Additionally, the development of a lithium mine in Ghana positions the country as a key player in the global lithium market, attracting further investment and technological advancements.
From a global perspective, the increased resource estimate at Ewoyaa aligns with the growing demand for lithium, driven by the rapid adoption of electric vehicles and renewable energy technologies.
As the world moves towards a greener future, reliable and abundant sources of lithium are crucial. Atlantic Lithium’s advancements at Ewoyaa contribute to the diversification of global lithium supply, reducing dependency on traditional sources and enhancing supply chain stability.
Atlantic Lithium’s recent announcement of an increased Mineral Resource Estimate at the Ewoyaa Lithium Project marks a significant milestone for the company and the broader African lithium industry.
The strategic focus on advancing Ewoyaa towards production, coupled with ongoing exploration efforts, positions the project for long-term success. For Ghana, the development of the Ewoyaa Lithium Project heralds a new era of economic opportunity and industrial growth.
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