Maiden Feldspar Mineral Resource Estimate 15.7Mt at 40.2% Feldspar Ewoyaa Lithium Project, Ghana

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce a maiden JORC (2012) compliant Mineral Resource Estimate of 15.7Mt at 40.2% feldspar (“Feldspar MRE”) for the Company’s flagship Ewoyaa Lithium Project (“Ewoyaa Project” or the “Project”) in Ghana, West Africa.

Highlights

• Maiden 15.7Mt at 40.2% Feldspar Mineral Resource Estimate reported for the Ewoyaa Lithium Project, including 13.7Mt (87%) in the Measured and Indicated categories.
• The Feldspar MRE is confined to the Ewoyaa Main, Ewoyaa Northeast, Ewoyaa South-1 and Ewoyaa South-2 deposits, which constitute approximately the first five years of planned spodumene concentrate production at the Project, as indicated by the Ewoyaa Definitive Feasibility Study (“DFS”, refer announcement of 29 June 2023).
• The Feldspar MRE is based on the same geological model that resulted in the 35.3Mt at 1.25% Li2O MRE1 for the Project (“MRE” or “Resource”; refer announcement of 1 February 2023) and includes 31.1% quartz and 11.7% muscovite, as additional potential by-products of spodumene concentrate production at Ewoyaa.
• Maiden Feldspar MRE enables the potential inclusion of feldspar by-product credits in future revisions of the Ewoyaa feasibility studies, believed to drive down operating costs and further enhance the value of the Project.
• Feldspar is widely used in the ceramics industry; the Company believes Ewoyaa could become a major producer of domestic feldspar in Ghana, which Atlantic Lithium intends to supply into the local Ghanaian ceramics market.
• Metallurgical test work and ceramic application trials undertaken; ceramic trials successfully produced acceptable, industry-standard ware, comparable in all aspects, including contraction, water absorption, density, porosity, shape, colour and appearance.
• Further Feldspar MRE growth targeted through the inclusion of analysis of historic drilling samples across remaining pegmatite deposits and new drilling currently underway.
• Maiden Feldspar MRE will be incorporated into the ongoing Feldspar Definitive Feasibility Study (“Feldspar Study”) being undertaken to assess the viability and prospective market conditions for the production of feldspar at Ewoyaa (refer announcement of 15 August 2023); with results due in Q1 2024.

Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said:

“Identified early on by the Company as a by-product of spodumene concentrate production at Ewoyaa, the definition of the maiden Feldspar MRE now confirms the Project’s potential as a major source of domestic feldspar in Ghana, capable of delivering industry-standard saleable ware.

“Currently supplied only by small-scale mining operations, we intend to supply the feldspar into the local Ghanian ceramics market. The Feldspar MRE indicates Ewoyaa’s potential to meet and even surpass Ghana’s demand requirements, further demonstrating the significant contribution the Project is expected to bring to Ghana.

“The Feldspar MRE is based on the same geological model that delivered the 35.3Mt MRE for the Project, as announced in February 2023, and incorporates approximately the first five years mine schedule, as outlined in the DFS. With 87% of the resource in the higher confidence Measured and Indicated categories, the Feldspar MRE represents a further significant de-risking and potentially value-enhancing milestone for the Project as we move closer towards construction.

“Currently, the economic outcomes indicated by the Definitive Feasibility Study for the Project do not consider the production of feldspar at Ewoyaa. The definition of the Feldspar MRE, therefore, enables the inclusion of feldspar by- product credits in future revisions of the Project’s economics, offering the potential to further enhance the already impressive financial outcomes expected to be delivered at Ewoyaa.

“With only the first approximate five years of planned lithium production included in the Feldspar MRE, there is significant potential to further grow the resource. The Feldspar MRE will then be incorporated into the ongoing Feldspar Study which is evaluating the prospective market conditions and viability of producing feldspar at the Project. Results of the Feldspar Study are expected in Q1 2024.

“Initial feldspar quality test work has delivered good quality vitreous hotelware, high-end earthenware and floor tiles and successfully substituted industry accepted feldspar in trial firings. The results of the trials are very encouraging for the manufacture of saleable feldspar products.

“We look forward to delivering the results of the Feldspar Study in Q1 2024 and, later in the year, a revised feldspar resource estimate considering the life of the mine. These represent, respectively, just two of the major milestones in our sights in 2024 before we break ground at Ewoyaa.”

Click here for the full ASX Release

This article includes content from Atlantic Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.