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Atlantic Lithium reports more high-grade results from Ewoyaa, targets resource upgrade for H2

11:24, 19th March 2024
Victor Parker
Vox Newswire
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Atlantic Lithium (ALLFollow | ALL, an Africa-focused lithium explorer, announced more high-grade assay results from resource drilling at its flagship Ewoyaa lithium project in Ghana.

Atlantic reported positive results from 2,514m of extensional RC drilling completed at Ewoyaa's Dog-Leg target, being the final results from drilling undertaken in 2023. ALL drilled a total of 25,898m during the year. Multiple high-grade and broad intersections were returned from the new target outside the current 35.3Mt @ 1.25% Li2O JORC compliant Ewoyaa MRE.

Highlights at 0.4% Li2O cut-off and a maximum 4m of internal dilution include GRC1024: 69m at 1.25% Li2O from 45m; GRC1027: 34m at 1.02% Li2O from 160m; GRC1024: 22m at 0.85% Li2O from 141m; GRC1030: 16m at 1.08% Li2O from 111m; GRC1032: 12m at 1.11% Li2O from 83m:

Atlantic is currently advancing its 2024 work programme. A further 804m of RC drilling and 70m of diamond core drilling were recently completed at Dog-Leg, with assay results pending. Further resource extension and exploration drilling is planned alongside ongoing regional exploration.

 

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Atlantic continues to report positive assay results from Ewoyaa. The new findings are significant as RC drilling has intersected shallow dipping, near-surface mineralised pegmatite bodies with thicknesses up to 35m outside the current MRE, proving potential for significant resource growth. An MRE upgrade, for both lithium and feldspar, to incorporate all 2023 and 2024 drilling, is targeted for H2 2024.

The final results from 2023 are from the new Dog-Leg target, located on the northern tip of the Ewoyaa Main deposit. Drilling returned multiple high-grade broad intercepts, including 69m at 1.25% Li2O from 45m. This follows the intersection of 83m at 1% Li2O from 36m in hole GRC1020 reported at Dog-Leg in February 2024. Atlantic recently completed a further 874m of extensional drilling at the target as part of its 2024 programme.

Upcoming key milestones at Ewoyaa include EPA approval, parliamentary ratification of the mining lease, and the grant of a mine operating permit. Overall, the permitting process is advancing rapidly and these milestones are expected to be passed without delays. Commencement of construction is targeted for late 2024 and initial production for early 2025. Simultaneously, further targets are being identified in the newly secured Bewadze and Senya Beraku licences.

Markets welcomed today's results, sending ALL shares 5.4% higher on Tuesday.

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