Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce further broad and high-grade assay results from resource drilling completed at the Company’s flagship Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) in Ghana, West Africa.
Highlights:
Further assay results received for 2,514m of extensional resource reverse circulation (“RC”) drilling completed at the Dog-Leg target, representing the final results from drilling undertaken in 2023, with a total of 25,898m drilled throughout the year.Multiple high-grade and broad extensional drill intersections reported at the new Dog-Leg target outside of the current 35.3Mt @ 1.25% Li2O JORC (2012) compliant Ewoyaa Mineral Resource Estimate1 (“MRE” or the “Resource”), including highlights at a 0.4% Li2O cut-off and a maximum 4m of internal dilution of:
GRC1024: 69m at 1.25% Li2O from 45mGRC1027: 34m at 1.02% Li2O from 160mGRC1024: 22m at 0.85% Li2O from 141mGRC1030: 16m at 1.08% Li2O from 111mGRC1032: 12m at 1.11% Li2O from 83mResults at Dog-Leg are significant; drilling has intersected shallow dipping, near surface mineralised pegmatite bodies with true thicknesses up to 35m outside of the MRE1, proving potential for significant resource growth.The Company is advancing the drilling programme to be undertaken in 2024:Plant site sterilisation drilling now completed for a total of 3,177m in 21 holes, with no mineralisation intersected, providing confidence in the proposed plant site location.A further 804m of RC drilling and 70m of diamond core drilling recently completed at Dog-Leg, with assay results pending.Further resource extension and exploration drilling planned alongside ongoing regional exploration.MRE upgrade, for both lithium and feldspar, to incorporate all 2023 and 2024 drilling, targeted for H2 2024.
Commenting on the Company’s latest progress, Neil Herbert, Executive Chairman of Atlantic Lithium, said:
“The final assay results from drilling completed in 2023 have again delivered impressive intersections, providing further confidence in the growth potential of the current 35.3Mt @ 1.25% Li2O Resource at the Ewoyaa Lithium Project.
“These results are from the new mineralised area at the Dog-Leg target, located on the northern tip of the Ewoyaa Main deposit, outside of the current MRE, where drilling has returned multiple high-grade and broad near surface extensional intersections, 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 last month.
“On the back of the encouraging results delivered from drilling completed in 2023 at Dog-Leg, we are excited to have recently completed a further 874m of resource extension drilling at the target as part of our resource growth programme for 2024. We look forward to receiving further drilling results and delivering a MRE upgrade for the Project, targeted for H2 2024. The MRE upgrade will include updates to both the lithium and feldspar and incorporate all of the results received from drilling completed in 2023 and results pending for 2024.
“In addition, we are pleased to have recently completed the plant site sterilisation programme without any surprises, allowing us to continue with our mine site designs and permitting.
“We look forward to updating shareholders on our ongoing progress.”
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