Multiple Broad and High-Grade Drill Intersections Resource Extension Drilling Results Ewoyaa Lithium Project, Ghana, West Africa

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 further broad and high-grade assay results from the resource drilling completed during 2023 at the Company’s flagship Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) in Ghana, West Africa.

Highlights:

• Further assay results received for 7,220m of extensional resource reverse circulation (“RC”) drilling completed at Ewoyaa as part of the ongoing 2023/2024 drilling programme.
• Multiple high-grade and broad extensional drill intersections reported at the new Dog-Leg target, Okwesi, Anokyi and Ewoyaa-South 2 deposits outside of the current 35.3Mt @ 1.25% Li₂O Ewoyaa Mineral Resource Estimate1 (“MRE” or the “Resource”), including highlights at a 0.4% Li₂O cut-off and a maximum 4m of internal dilution of:
  • GRC1020: 83m at 1% Li20 from 36m
  • GRC1017: 47m at 1.05% Li₂O from 87m
  • GRC0996: 24m at 1.21% Li₂O from 29m
  • GRC0994: 11m at 1.9% Li₂O from 105m
  • GRC1023: 24m at 0.81% Li₂O from 159m
  • GRC1020: 21m at 0.87% Li₂O from 139m
  • GRC0989: 12m at 1.49% Li₂O from 108m
  • GRC0983: 12m at 1.34% Li₂O from 38m
  • GRC1000: 9m at 1.68% Li₂O from 22m
• Results at Dog-Leg are significant; drilling has intersected shallow dipping, near surface mineralised pegmatite bodies with true thicknesses up to 35m outside of the MRE, proving potential for significant resource growth.
• Drilling to recommence shortly; prioritisation of the recently added 3,000m plant site sterilisation programme in support of mine site commissioning, ahead of completion of the remaining 26,500m resource growth and infill programme commenced in 2023.

“We are pleased to deliver further impressive assay results from drilling completed in 2023, part of the ongoing programme. These latest results from the new Dog-Leg target, Okwesi, Anokyi and Ewoyaa South-2 deposits have returned multiple high-grade and broad extensional intersections, including 83m at 1% Li₂O from 36m and 47m at 1.05% Li₂O from 87m at the new Dog-Leg target.

“All reported drilling results fall outside of the current MRE; pertinent in that they occur both within a new mineralised area at the Dog-Leg target and near surface at both the Dog-Leg target and Ewoyaa-South 2 deposit strike extension.

“We are excited to re-commence drilling for the 2024 season with an initial focus on 3,000m of sterilisation drilling at the proposed plant site and then the remaining meterage of the ongoing 26,500m resource drilling programme targeting Resource growth and conversion.

“We look forward to updating shareholders on our ongoing progress, including as remaining assay results for drilling completed during 2023 become available.”

New Drilling Results

Further assay results have been received for 7,720m of RC drilling from the ongoing 2023 drill programme at the Ewoyaa Lithium Project. Broad high-grade extensional drilling results have been reported at the new Dog-Leg target and Okwesi, Anokyi and Ewoyaa South-2 deposits. The reported results sit outside of the current MRE1 (refer Table 1, Table 2, Appendix 1 and Appendix 2).

Further extensional drilling results have defined new mineralisation at the Dog-Leg target and extended mineralisation at depth outside of the current MRE¹ at the Okwesi, Anokyi and Ewoyaa-South 2 deposits (refer Figure 1, Figure 2, Figure 3 and Figure 4) respectively, including highlight intersections at a 0.4% Li₂O cut-off and a maximum 4m of internal dilution shown in Table 1.

Drilling aims to intersect mineralised pegmatite bodies perpendicular to strike and dip to approximate true width. This is not always achieved due to the variable nature of pegmatites or challenging drill access, with some drill intersections drilled down-dip as apparent widths. Accordingly, estimated true widths are included in the intersections table in Appendix 1.

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