GCINeil Herbert of Atlantic Lithium: There’s some real value driving events happening in the next 3 months hence why I invested more
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Neil Herbert Executive Chairman discusses their exploration programme & the Definitive Feasibility Study, happening in the next 3 months, as real value driving events and sees it as a good reason to increase his investment in the company.
Highlights
Ø The following 2023 exploration drilling programme is planned:
· Approximately 20,000m of auger drilling over a five-month period to test multiple targets identified within the Project area and broader Portfolio; auger drilling has now commenced at the Assan target in the north of the Project area, with four auger rigs active to test for and define pegmatite footprints.
· Passive seismic geophysics survey to test for potential concealed pegmatite targets within the immediate Ewoyaa Mineral Resource Estimate1 footprint
· Approximately 6,500m of follow-up exploration RC drilling on new targets defined in auger drilling and the passive seismic survey, dependent on results.
· Soil geochemistry survey, which has now commenced over the Cape Coast licence.
Ø An additional resource drilling programme is planned to run concurrently:
· Approximately 10,000m of resource infill and extensional reverse circulation and diamond core drilling at the Project consisting of:
o 3,000m of infill drilling to convert Inferred resources to the higher confidence Indicated category at the Ewoyaa South 2 deposit for future mine sequencing optionality; drill pads and access construction is currently underway;
o 7,000m of step out extensional drilling along strike and at depth below the Ewoyaa Main, Ewoyaa North-East and Kaampakrom corridor deposits aiming to grow the current MRE1.
· Approximately 2,000m of DD for Project studies including water monitoring, metallurgy and resource twinning of RC holes.
· Analysis of pegmatite drill intersections from stored pulps and retention samples for multi-element geochemistry to help define a feldspar MRE in support of future mine studies.
Ø The Front-End Engineering Design and Definitive Feasibility Study ("DFS") for the Project is well progressed
· The delivery of the DFS, which will be based on the current 35.3Mt @ 1.25% Li2O MRE1, is targeted for completion at the end of Q2 2023; the planned 2023 programmes will not impact delivery of the DFS.
To read the full RNS click here
Director/PDMR Shareholdings
The Board of Atlantic Lithium Limited, the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, wishes to advise that certain Directors and persons discharging managerial responsibilities ("PDMRs") of the Company have purchased in the market a total of 2,454,677 ordinary shares of no par value each ("Ordinary Shares") at an average price of 27.34p per Ordinary Share, equating to aggregate value of £671,231, as follows
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