Atlantic Lithium Limited (AIM:ALL) has released further results from its ongoing infill drilling campaign at the Ewoyaa lithium deposit in Ghana.
The results continue to confirm grade and continuity.
Among the highlights were intercepts of 45 metres at 1.54% Li2O, 33 metres at 1.61% Li2O, and 31.2 metres at 1.66% Li2O.
The company has reported assays on 4,769 metres of its current infill drilling programme, with results on a further 22,500 metres of infill, extensional and exploration drilling assay due in due course.
A recently completed scoping study for Ewoyaa set out a scenario in which life of mine revenues exceeded US$3.43bn.
"The ongoing infill drilling results received continue to confirm mineralisation grade and continuity where tested across the Ewoyaa deposit,” said Vincent Mascolo, chief executive of Atlantic.
"Assay results received over the Ewoyaa Sill target to date are encouraging, with mineralisation occurring in flat-lying sill structures favourable for tonnage addition and low strip ratio. Additional results are still pending. Visible spodumene was observed in the new Kaampakrom West target, with assays pending. Both of these target areas fall outside of the current resource footprint, indicating the potential for further resource growth.”
The company is targeting a more than 80% resource conversion rate from inferred to indicated over the recently upgraded 21.3mln tonne resource, and is also aiming for a tonnage increase to over 24mln tonnes in support of a 12-year mine life for future studies.
"Our resource continues to grow, and the upside of the project is clear,” added Mascolo.
“As such, we expect that the project metrics will improve beyond the current defined Life of Mine. It is estimated by the company that every additional year of production will add up to around US$60mln in post-tax NPV per annum.”