Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF) said it intersected high grades in the latest results from its flagship Ewoyaa lithium project in Ghana, West Africa.
It received assay results for an additional 4,000 metres (m) of drilling at the Ewoyaa Main and Grasscutter North targets.
Highlights from drilling at the main deposit included 46m at 1.21% lithium oxide (Li2O) from a depth of 115m; 43m at 1.08%; 31m at 1.43%; and 10m at 1.39%.
The new drilling results fall outside the current JORC-compliant resource estimate and extend mineralisation a further 75m downdip at the Ewoyaa Main deposit.
“We are pleased to report ongoing and significant high-grade pegmatite intervals over broad widths below the Ewoyaa Main deposit and outside of the currently defined resource volume, giving us confidence to deliver future resource upgrades for the project,” said interim chief executive Lennard Kolff.
"Remaining assays are pending for holes GRC0666 and GRC0667 which have long intervals of visible spodumene reported and initial high-grade results received of 10m at 1.39% Li2O in GRC0666 with mineralisation open at depth.”
Visible spodumene zones up to 80m long were observed in holes GRC666, GRC667, GRC669 and GRC670 below the Ewoyaa Main deposit.
About 24,900m of a planned 37,000m drilling programme has been completed to date at Ewoyaa.
"Our ongoing exploration programme demonstrates considerable scope for resource growth and the potential for an extended mine life beyond the metrics of the Scoping Study,” said Kolff. “This, in conjunction with further economic benefits from increased spodumene concentrate pricing, continue to demonstrate Ewoyaa as an industry-leading asset.”
"With the pre-feasibility study targeted for completion in Q3 2022, and the project being funded to production through our agreement with Piedmont Lithium, we feel the company is ideally positioned to benefit from the growing lithium demand."