Atlantic Lithium reports latest assay results from Ewoyaa drilling

Africa-focussed lithium explorer and developer Atlantic Lithium released further assay results from its ongoing resource and exploration drilling programme at the Ewoyaa Lithium Project in Ghana on Wednesday.

The AIM-traded company provided results for 6,150 metres of infill and exploration reverse circulation (RC) as well as groundwater monitoring drilling at Ewoyaa, as part of a broader 18,500-metre drilling programme planned for 2023.

High-grade infill drill intersections had been reported at the Ewoyaa South-2 deposit.

That drilling was specifically designed to convert inferred resources to indicated resources, which offer a higher level of confidence for investors and regulators alike.

New assay results also revealed extended mineralisation at the Ewoyaa South-2 and Ewoyaa North-East deposits, beyond what was accounted for in the current JORC-compliant 35.3 million tonnes at 1.25% lithium oxide Ewoyaa Mineral Resource Estimate (MRE).

Additional intersections were identified at the Kaampakrom Ewoyaa Main and Ewoyaa North-West deposits, which were also outside the current resource estimate.

Among the high-grade drill intersections reported, some of the highlights - measured using a 0.4% lithium oxide cut-off and a maximum four metres of internal dilution - included hole GRC0961 with 48 metres at 1.31% lithium oxide from 137 metres, and hole GRC0959 with 24 metres at 1.86% lithium oxide from 10 metres.

Hole GRC0943 returned 29 metres at 1.37% lithium oxide from 184 metres, hole GRC0951 had 29 metres at 1.2% lithium oxide from 69 metres, and hole GRC0952 reported 23 metres at 1.51% lithium oxide from 23 metres.

Atlantic Lithium also reported that hole GRC0955 returned 13 metres at 1.19% lithium oxide from 28 metres, hole GRC0944 returned nine metres at 1.6% lithium oxide from 223 metres, hole GRC0959 returned nine metres at 1.48% lithium oxide from 44 metres, and hole GRC0960A returned eight metres at 1.18% lithium oxide from 75 metres.

“We are pleased to report ongoing drilling assay results across the Ewoyaa Lithium Project, which have returned high-grade infill and extension intersections,” said executive chairman Neil Herbert.

“Further results from the Ewoyaa South-2 and Ewoyaa North-East deposit have extended mineralisation outside of the current Resource envelope, including 48m at 1.13% lithium oxide from 137 metres at Ewoyaa South-2, where mineralisation remains open along strike and at depth.

“A total of 18,500 metres of infill, extensional and exploration RC drilling has been planned for 2023.”

Herbert said the programmes were intended to grow and improve the confidence of the Ewoyaa Resource, in turn improving the economics of the project.

“We look forward to updating shareholders on our ongoing progress, including as remaining assay results become available.”

At 1005 BST, shares in Atlantic Lithium were up 1.48% at 20.5p.

Reporting by Josh White for Sharecast.com.