Atlantic Lithium Limited (AIM:ALL) said results from infill drilling at the Ewoyaa lithium project in Ghana, West Africa, "continue to impress'.
Ewoyaa was recently the subject of a scoping study based around an increased JORC resource of 21.3mln tonnes of ore grading 1.31% lithium oxide (Li2O,).
Among the highlights of the latest drilling were 65 metres at 1.66% Li2O, 23 metres at 1.64% Li2O, and 35 metres at 0.96% Li2O.
The results continue to confirm grade and continuity across the Ewoyaa deposits.
An additional 11,800 metres of infill and extensional drilling assay results are pending, and further resource upgrades are likely to follow.
Life of mine revenues for Ewoyaa are expected to exceed US$3.43bn, with average EBITDA running at US$178mln per annum.
"The ongoing infill drilling results received continue to confirm mineralisation grade and continuity where tested across the Ewoyaa deposit,” said chief executive Vincent Mascolo.
"First assay results received over the Kaampakrom West target are encouraging and have returned good grades and widths outside of the current resource footprint which will add further tonnes. Additional assay results received over the Ewoyaa Sill target continue to impress, with mineralisation occurring in flat lying structures favourable for tonnage addition and low strip ratio.”