Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) has updated the resource estimates for its Uis mine, in Namibia.
The new estimate covered the mine’s V1V2 pegmatite, updating for the final batch of drill results from 2022 and depletion from the surface (up to August 2024).
Andrada said the average lithium oxide ((Li₂O) grade has increased to 0.79% from 0.73%, and contained lithium oxide increased to 610,000 from 587,000.
Its measured resource tonnage meanwhile grew 30% to 27.33 million tonnes (mt), and the indicated resource tonnage increased 2% to 17.50 million tonnes.
The total resource tonnage declined to 77.51 million tonnes, from 81 million tonnes, as material was mined from surface mining.
Chief executive Anthony Viljoen described it as “another positive step” as Andrada moves closer to becoming “a premiere African producer of tin, lithium and tantalum”.
“Our exploration team has once again demonstrated that the V1V2 pegmatite has significant lithium potential, shown by increases in both the average lithium grade and contained metal tonnage,” he said in a statement.
“Critically, this updated resource also allows us to better quantify the potential lithium concentrate credits we can generate alongside our tin production, optimising the overall project economics.
Viljoen added: “Furthermore, the updated MRE further enhances the project economics of the Uis mine operations and will enable the determination of a lithium mineral reserve.”