Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF) announced further positive drilling results from its flagship Ewoyaa lithium project in Ghana, West Africa.
It received assay results for an additional 2,900 meters (m) of drilling at the Ewoyaa Main and Grasscutter North targets.
Broad, high-grade drill intersections were returned from the Ewoyaa Main deposit, including 69m at 1.34% lithium oxide (Li2O) from a depth of 129m; 67m at 1.2% lithium oxide; 59m at 1.07% lithium oxide; and 59m at 0.95% lithium oxide.
The additional results also extended the mineralisation by a further 40m west at the Grasscutter North target.
"We are pleased to report high-grade pegmatite intervals up to 69m long below the Ewoyaa Main deposit and outside of the currently defined resource estimate,” said interim chief executive Lennard Kolff. “Furthermore, mineralisation remains open along strike and at depth.”
"These latest assays continue to demonstrate the potential for resource growth outside of the current resource and for an extended mine life beyond the metrics of the scoping study reported in December 2021 and prior to the updated resource estimate of 30.1Mt @ 1.26% Li2O, announced in March 2022.”
It has completed 27,000m of a planned 37,000m drilling programme at Ewoyaa. Drilling is ongoing, with further assays pending and the programme targeted for completion this quarter.
The results follow on from an upbeat drilling announcement released a couple of weeks ago from the AIM-traded company.
READ: Atlantic Lithium reports high grades in latest results from its flagship Ewoyaa project
“It is clear from Ewoyaa's ongoing positive drilling results, available off take capacity combined with the pre-feasibility study targeted for completion in Q3 2022 and our funding agreement with Piedmont Lithium, we are in an exceptional position to benefit from the continued global lithium demand,” concluded Kolff.