Atlantic Lithium Limited (AIM:ALL) announced the start of drilling at its flagship Ewoyaa project in Ghana, which is on track to become West Africa's first lithium mine.
About 12,000 metres (m) of exploration and 6,000m of resource extension drilling are planned using a reverse circulation (RC) drill rig. An RC rig has arrived on site and started drilling.
About 960m of geotechnical diamond core drilling is also planned to test the proposed mine pit wall ground conditions for a detailed engineering design.
The company released an updated scoping study for the project last December which incorporated a recently increased JORC resource of 21.3mln tonnes.
READ: Atlantic Lithium showcases updated scoping study for Ewoyaa
"We are pleased to have Geodrill (TSX:GEO) back on site to commence the 2022 drilling season; field teams have done a great job to open access and prepare drill pads ahead of the drill rig's arrival,” said chief operating officer Len Kolff.
“Since commencing exploration earlier this year, we have identified six new target areas for RC drill testing; all within 3.5km of the current 21.3Mt @1.31% Li2O resource footprint. We have also identified extensions within the current MRE [mineral resource estimate], where mineralisation remains open along strike and at depth for RC drill testing.
“The exploration potential is clear, and we see significant resource growth potential. Not only do we believe that project metrics will improve significantly beyond the current defined mine life, but we also see further potential for economic improvement due to the recent increases in spodumene concentrate pricing which have far exceeded our initial SC6 price modelling parameters.”