Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) said it completed the drilling programme at its flagship Ewoyaa lithium project in Ghana.
It also announced further assay results for an additional 5,367 metres of drilling, with multiple high-grade and broad intersections reported both inside and outside the current mineral resource estimate.
The latest infill drilling results from within the current resource at the Ewoyaa Main deposit returned multiple high-grade pegmatite intervals over 1.5% lithium oxide and over 80 metres long.
This provides “further confidence in resource to reserve conversion and the pre-feasibility design”, said interim chief executive Lennard Kolff.
Highlights from outside the current resource include 67 metres at 1.51% lithium oxide at the Grasscutter East deposit.
"We anticipate further news flow regarding the awaited drill results going into the end of the year and are targeting a resource upgrade at the end of 2022 or early 2023, dependent on lab turn-around time,” said Kolff.
“The increased resource estimate will inform a definitive feasibility study update, targeted for completion in mid-2023.”
Atlantic announced last week that it had submitted a mining licence application for Ewoyaa, a key step towards its goal of delivering the West African country’s first lithium mine.
READ: Atlantic Lithium submits mining licence application for proposed Ewoyaa lithium mine in Ghana
“With the pre-feasibility study now delivered, the mining licence application submitted, ongoing positive drilling results and with the support of our funding agreement with Piedmont Lithium, we feel the company is ideally positioned to benefit from the unprecedented levels of lithium demand that are expected over the coming years," said Kolff.