Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) reported the highest grade to date from its completed resource and exploration drilling programme at its flagship Ewoyaa lithium project in Ghana.
It intersected 4.52% lithium oxide (Li2O) over 1 metre (m), including an adjacent 1m interval of 3.99% Li2O, in infill drilling at the Ewoyaa Main deposit.
Its newly reported drilling results fall inside and outside the current 30.1 million tonne at 1.26% Li2O mineral resource estimate (MRE), providing further confidence in a resource conversion at the Ewoyaa Main deposit, and extending mineralisation downdip at the Grasscutter East, Grasscutter West and Anokyi deposits, said the Africa-focused company.
"We are delighted to report ongoing high-grade drill intersections, both within the infill programme targeting conversion of indicated to measured resources and within the exploration programme targeting resource growth outside the current MRE,” said interim chief executive Lennard Kolff.
"The latest infill drilling results from within the current resource at the Ewoyaa Main deposit have returned multiple high-grade pegmatite intervals over 1.5% Li2O and up to 95m long with the hole ending in mineralisation, providing further confidence in future resource to reserve conversion.
"Exploration drilling outside of the current resource has returned multiple intersections, including highlights of 29m at 1.72% Li2O and 25m at 1.49% Li2O at the Anokyi deposit, 45m at 1.16% Li2O at the Grasscutter West deposit and 23m at 1.18% Li2O at the Grasscutter East deposit. These results reaffirm the significant growth potential at the Ewoyaa project, which we hope to unlock.”
About 21,000m of results from the 47,000m drilling programme have been reported to date.
Atlantic Lithium said it is targeting a resource upgrade at the end of 2022 or early 2023, dependent on lab turn-around time, which will inform a definitive feasibility study, targeted for completion in mid-2023.