TIDMALL
RNS Number : 4969O
Atlantic Lithium Limited
01 February 2023
1 February 2023
Ewoyaa Lithium Resource Increases to 35.3Mt at 1.25% Li(2) O
Measured and Indicated Resources Now 79% of Total Resource
Cape Coast Lithium Portfolio, Ghana, West Africa
Atlantic Lithium Limited (AIM: ALL, OTC: ALLIF, "Atlantic
Lithium" or the "Company"), the funded African- focussed lithium
exploration and development company on track to become Ghana's
first lithium producing mine, is pleased to announce a significant
Mineral Resource Estimate ("MRE" or the "Resource" ) upgrade to
35.3Mt at 1.25% Li(2) O for the Ewoyaa lithium deposit
(collectively the "Ewoyaa Project" or the "Project") within the
Cape Coast Lithium Portfolio in Ghana, West Africa. The Resource is
reported in accordance with the JORC Code (2012).
Figures, Tables and Appendixes referred to in this release can
be viewed in the PDF version available via this link:
http://www.rns-pdf.londonstockexchange.com/rns/4969O_1-2023-1-31.pdf
HIGHLIGHTS:
Ø MRE now increased to 35.3Mt at 1.25% Li(2) O including 28Mt in
the Measured and Indicated categories at the Ewoyaa deposit;
reported in accordance with the JORC Code (2012).
Ø 79% of the overall MRE now in higher confidence Measured and
Indicated categories, with 3.5Mt at 1.37% Li(2) O in the Measured
category and 24.5Mt at 1.25% Li(2) O in the Indicated category.
Ø Measured Resources reported for the first time and additional
Indicated Resources converted from the Inferred category,
highlighting strong geological and mineralisation continuity,
favourable for ongoing studies.
Ø Definitive Feasibility Study ("DFS") well progressed and
targeted for release Q2 2023.
Ø The DFS will evaluate an extended mine life and increased
throughput to enhance Project economics.
Ø Significant exploration upside within the immediate Resource
area with some pegmatites open along strike and at depth and only
15km(2) drilled to date within the broader 560km(2) Cape Coast
lithium portfolio.
Ø MRE upgrade is based on a total 137,153m of drilling
(inclusive 47,000m programme completed during 2022), and includes
120,845m of reverse circulation ("RC") and 16,308m of diamond core
("DD") drilling.
Ø Project has exceptional ESG credentials; local highly skilled
workforce, low power requirements and well located with adjacent
high-power transmission lines, within 1km of national highway and
within 110km to the operating deep-sea port of Takoradi.
Ø Resource upgrade expected to significantly improve project
economics. Previously announced Pre-Feasibility Study (refer RNS of
22 September 2022) delivers exceptional financial outcomes for a
2Mtpa operation, producing an average c. 255,000tpa of 6% Li(2) O
spodumene concentrate ("SC6") over a 12.5-year operation based on a
30.1Mt at 1.26% Li(2) O MRE:
o LOM revenues exceeding US$4.84bn, Post-tax NPV(8) of
US$1.33bn, IRR of 224% over 12.5 years
o US$125m capital cost with industry-leading payback period of
<5 months
o C1 cash operating costs of US$278 per tonne of 6% lithium
spodumene concentrate Free on Board ("FOB") Ghana Port, after
by-product credits
o Average Life of Mine ("LOM") EBITDA of US$248m per annum
o 18.9Mt at 1.24% Li(2) O Maiden Ore Reserve
o Average annualised US$1,359/dry metric tonne SC6 pricing used
with US$1,200/dry metric tonne long term pricing
Commenting on the Company's latest progress, Lennard Kolff,
Interim Chief Executive Officer of Atlantic Lithium, said:
"The Resource upgrade represents a significant de-risking
milestone for the Company, with 79% of the Resource now in the
higher confidence Measured and Indicated categories with potential
for further exploration growth. This, in addition to the larger
overall tonnage, will provide the opportunity to evaluate extended
mine life and increased throughput to enhance project
economics.
" Our goal was to convert the Inferred to Indicated category,
define the first 1 to 2 years of planned production to Measured
category and increase the overall Resource scale. We have
comfortably achieved all our goals, demonstrating the robust
geological fundamentals of the Project.
"Metallurgical test-work to date has consistently delivered
high-purity, low contaminants >6% Li(2) O coarse spodumene
concentrate utilising simple gravity-only processing. Combining
this with the excellent proximity to operational infrastructure and
the availability of skilled services in pro-mining Ghana, we are on
course to deliver one of the world's most efficient hard rock
lithium projects, in terms of capital intensity and lower operating
costs.
"The Company has transitioned from explorer to developer, with
Ewoyaa funded to production through our agreement with Piedmont,
key senior personnel recently recruited, and our Mining License
application submitted. Today's Resource upgrade highlights the
exceptional potential of the project and the value that it brings
to Ghana and the Company."
Mineral Resource Estimate Upgrade
An upgraded MRE of 35.3Mt at 1.25% Li(2) O was completed for the
Ewoyaa deposit and surrounding pegmatites; collectively termed the
"Ewoyaa Project". The Mineral Resource is reported in accordance
with the JORC Code (2012). The MRE includes a total of 3.5Mt at
1.37% Li(2) O in the Measured category, 24.5Mt at 1.25% Li(2) O in
the Indicated category and 7.4Mt at 1.16% Li(2) O in the Inferred
category (refer Table 1 ).
The independent MRE for Ewoyaa was completed by Ashmore Advisory
Pty Ltd ("Ashmore") of Perth, Western Australia, with results
tabulated in the Statement of Mineral Resources in Table 1. The
Statement of Mineral Resources is reported in line with
requirements of the JORC Code (2012) and is therefore suitable for
public reporting.
High-level Whittle optimisation was completed by Mining Focus
Consultants Pty Ltd of Perth, Western Australia and demonstrates
reasonable prospects for eventual economic extraction.
Table 1: Ewoyaa Mineral Resource Estimate (0.5% Li(2) O
Cut-off)
Measured Mineral Resource
----------------------------------------
Type Tonnage Li(2) O Cont. Lithium Oxide
Mt % kt
----------- -------- -------- --------------------
Primary 3.5 1.37 48
-------- -------- --------------------
Total 3.5 1.37 48
-------- -------- --------------------
Indicated Mineral Resource
----------------------------------------
Type Tonnage Li(2) O Cont. Lithium Oxide
Mt % kt
----------- -------- -------- --------------------
Weathered 0.5 1.09 5
Primary 24.1 1.26 302
-------- -------- --------------------
Total 24.5 1.25 307
-------- -------- --------------------
Inferred Mineral Resource
----------------------------------------
Type Tonnage Li(2) O Cont. Lithium Oxide
Mt % kt
----------- -------- -------- --------------------
Weathered 1.8 1.13 20
Primary 5.6 1.17 66
-------- -------- --------------------
Total 7.4 1.16 86
-------- -------- --------------------
Total Mineral Resource
----------------------------------------
Type Tonnage Li(2) O Cont. Lithium Oxide
Mt % kt
----------- -------- -------- --------------------
Weathered 2.2 1.12 25
Primary 33.1 1.25 415
-------- -------- --------------------
Total 35.3 1.25 440
-------- -------- --------------------
Competent Persons Note:
The Mineral Resource has been compiled under the supervision of
Mr. Shaun Searle who is a director of Ashmore Advisory Pty Ltd and
a Registered Member of the Australian Institute of Geoscientists.
Mr. Searle has sufficient experience that is relevant to the style
of mineralisation and type of deposit under consideration and to
the activity that he has undertaken to qualify as a Competent
Person as defined in the JORC Code.
All Mineral Resources figures reported in the table above
represent estimates at January 2023. Mineral Resource estimates are
not precise calculations, being dependent on the interpretation of
limited information on the location, shape and continuity of the
occurrence and on the available sampling results. The totals
contained in the above table have been rounded to reflect the
relative uncertainty of the estimate. Rounding may cause some
computational discrepancies.
Mineral Resources are reported in accordance with the
Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (The Joint Ore Reserves Committee Code -
JORC 2012 Edition).
There are four main geometallurgical domains at Ewoyaa;
coarse-grained type P1 and finer-grained type P2 pegmatites and
their weathered equivalents. Their estimated relative abundances,
metallurgical recoveries and concentrate grades are shown in Table
2.
To show the tonnage and grade distribution throughout the entire
deposit, a bench breakdown has been prepared using a 10m bench
height which is shown in Figure 1 and grade-tonnage curve for the
classified resource in Figure 2 .
Table 2: Material types, recoveries and concentrate grades
(recoveries based on laboratory results)
Weathered
-----------------------------------------------------------------
Geomet Type Tonnage Li(2) O Cont. Lithium Oxide Recovery Conc. Grade
Mt % kt % Li(2) O (%)
------------- -------- -------- -------------------- --------- ------------
P1 2.0 1.13 23 68 6.0
P2 0.2 1.00 2 50 6.0
-------- -------- -------------------- --------- ------------
Total 2.2 1.12 25
-------- -------- --------------------
Primary
-----------------------------------------------------------------
Geomet Type Tonnage Li(2) O Cont. Lithium Oxide Recovery Conc. Grade
Mt % kt % Li(2) O (%)
------------- -------- -------- -------------------- --------- ------------
P1 29.3 1.28 375 70 6.0
P2 3.8 1.06 40 50 5.5
-------- -------- -------------------- --------- ------------
Total 33.1 1.25 415
-------- -------- -------------------- --------- ------------
Competent Persons Note: as per Table 1 above and metallurgical
sign off in Competent Persons section at end of document.
Figure 1: Ewoyaa Tonnage and Grade - 10m Bench Elevation
Figure 2: Ewoyaa Lithium Project Grade - Tonnage curve for
classified pegmatite resource
A plan view of the deposit areas is shown in Figure 3 with a
long section shown in Figure 4 and cross-section within the Ewoyaa
Main indicated category zone shown in Figure 5.
Figure 3: Plan View of Ewoyaa Resource wireframes and drilling
with prospect names
Figure 4: Long Section Z-Z' of Ewoyaa Main wireframes and
drilling (View towards 300deg; solid colours = Resource wireframes,
wireframe edges = pegmatite wireframes)
Figure 5: Cross Section A-A' of Ewoyaa Block Model Li2O grades
and drilling
The current MRE is based on a 0.5% reporting cut-off grade
within a 0.4% Li(2) O wireframed pegmatite body. However, when
assessing all pegmatite volumes (with no cut-offs applied), there
is significant scope to increase the resource tonnage. Table 3
below shows the overall resource tonnage and grade for the deposit,
inclusive of all pegmatite material. For example, the Resource can
be reported at a significantly larger tonnage by reducing the
cut-off grade to 0.2% Li(2) O, giving an increased resource of
45.3Mt at 1.03% Li(2) O. Conversely, the Resource can be reported
at a higher grade using a 0.8% Li(2) O cut-off for a resource of
32.1Mt at 1.3% Li(2) O.
Further studies will assess the potential benefits of increased
production by reducing the cut-off grade or higher feed grade on
overall Project economics, consistent with market price predictions
and price trends realised by existing producers.
Table 3: Overall resource tonnage and grade for the deposit,
inclusive all pegmatite material
Cape Coast Lithium Project - Peg and Min 0.4% Wireframes
January 2023 Mineral Resource Estimate
--------------------------------------------------------------------------------------------------
Grade Incremental Resource Cut-off Cumulative Resource
----------------------------------- -----------------------------------
Range Tonnage Li(2) O Contained Grade Tonnage Li(2) O Contained
Li(2) O t % Li(2) O (t) Li(2) O % t % Li(2) O (t)
----------- -------- ------------ ----------- -------- ------------
0.0 -> 0.1 7,805,784 0.07 5,451 0.0 72,387,265 0.69 500,147
0.1 -> 0.2 19,273,356 0.15 28,859 0.1 64,581,481 0.77 494,697
---------- ----------- -------- ------------
0.2 -> 0.3 8,080,136 0.23 18,974 0.2 45,308,125 1.03 465,838
0.3 -> 0.4 1,349,802 0.34 4,549 0.3 37,227,989 1.20 446,864
0.4 -> 0.5 542,526 0.44 2,411 0.4 35,878,187 1.23 442,314
---------- ----------- -------- ------------
0.5 -> 0.6 635,742 0.55 3,526 0.5 35,335,661 1.25 439,903
---------- ----------- -------- ------------
0.6 -> 0.7 932,862 0.65 6,099 0.6 34,699,919 1.26 436,377
0.7 -> 0.8 1,628,854 0.75 12,266 0.7 33,767,057 1.27 430,278
0.8 -> 0.9 2,352,414 0.85 20,053 0.8 32,138,203 1.30 418,012
---------- ----------- -------- ------------
0.9 -> 1.0 2,892,363 0.95 27,540 0.9 29,785,789 1.34 397,959
1.0 -> 1.2 7,606,691 1.10 83,979 1.0 26,893,426 1.38 370,418
1.2 -> 1.4 8,065,436 1.30 104,721 1.2 19,286,735 1.48 286,440
1.4 -> 1.6 6,413,684 1.49 95,753 1.4 11,221,299 1.62 181,719
1.6 -> 1.8 3,163,177 1.68 53,275 1.6 4,807,615 1.79 85,965
1.8 -> 2.0 1,121,909 1.88 21,101 1.8 1,644,438 1.99 32,690
2.0 -> 2.5 479,555 2.17 10,413 2.0 522,529 2.21 11,589
2.5 -> 3.0 36,310 2.66 966 2.5 42,974 2.66 1,176
3.0 -> 3.5 6,664 3.16 210 12.0 6,664 3.16 210
Total 72,387,265 0.69 500,147
----------- -------- ------------
Geology and Geological Interpretation
The Ewoyaa Project area lies within the Birimian Supergroup, a
Proterozoic volcano-sedimentary basin located in Western Ghana. The
Project area is underlain by three forms of metamorphosed schist;
mica schist, staurolite schist and garnet schist. Several
granitoids intrude the basin metasediments as small plugs. These
granitoids range in composition from intermediate granodiorite
(often medium-grained) to felsic leucogranites (coarse to
pegmatoidal grain size), sometimes in close association with
pegmatite veins and bodies.
Pegmatite intrusions generally occur as sub-vertical dykes with
two dominant trends: either east-southeast (Abonko, Anokyi, Ewoyaa
Northeast , Grasscutter, Kaampakrom and Okwesi ) dipping
sub-vertically northeast; or north-northeast (Ewoyaa Main) dipping
sub-vertically to moderately to the east. Pegmatite thickness
varies across the Project, with thinner mineralised units
intersected at Abonko and Kaampakrom between 4 and 12m; and thicker
units intersected at Ewoyaa Main between 30 and 60m, and up to 100m
at surface.
Drill Methods
The database contains data for the auger, RC and DD drilling
conducted by the Company since 2018. The drilling was completed by
the Company in six phases commencing in April 2018. All the
drilling was undertaken by GeoDrill (Ghana), using both RC and DD
rigs.
Drilling at the deposit extends to a vertical depth of
approximately 319m and the mineralisation was modelled from surface
to a depth of approximately 330m below surface. The estimate is
based on good quality RC and DD drilling data. Drill hole spacing
is predominantly 20m by 20m and 40m by 40m in the well-drilled
portions of the Project and up to 80m by 80m to 100m by 100m across
the breadth of the known mineralisation.
The RC drilling used a combination of 5.25' and 5.75' face
sampling hammers. The DD used PQ and HQ (85mm and 63.5mm) diameter
core barrels. The DD holes were completed from surface or as tails
with PQ to maximise recovery in weathered zones, with reversion to
HQ once ground conditions improved within fresh material.
In 2018, Phase 1 RC holes were completed on a nominal 100m by
50m grid pattern, targeting the Ewoyaa Main mineralised system.
Phases 2 to 5 reduced the wide spacing to 80m by 40m and down to
40m by 40m in the well-drilled portions of the Project. Eleven DD
twins of RC holes were completed.
During Phase 1 and 2, RC drilling bulk samples and splits were
collected at the rig for every metre interval drilled, the splits
being undertaken using a riffle splitter. During Phase 3, Phase 4,
Phase 5 and Phase 6, RC samples were split with a rig mounted cone
spitter, which took duplicate samples for quality control
purposes.
DD was cut with a core saw and selected half core samples was
dispatched to Nagrom Laboratory in Australia for metallurgical test
work.
Selected core intervals were cut to quarter core with a saw at
one-metre intervals or to geological contacts; and since December
2018, were sent to Intertek Laboratory in Tarkwa, Ghana for sample
preparation. Prior to that, samples were sent to SGS Laboratory in
Tarkwa for sample preparation.
All Phase 1 samples were submitted to SGS Tarkwa for preparation
(PRP100) and subsequently forwarded to SGS Johannesburg and later
SGS Vancouver for analysis (ICP90A).
PRP100 - Samples <3kg are dried in trays, crush to 100%
passing 2mm, split using a rotary splitter to 5kg and pulverised in
a LM2 to a nominal 85% passing 75um. Approximately 100g sub-sample
is taken for assay. All the preparation equipment is flushed with
barren material prior to the commencement of the job. Coarse reject
material was kept in the original bag.
Since December 2018, samples have been submitted to Intertek
Tarkwa (SP02/SP12) for sample preparation. Samples were weighed,
dried and crushed to -2mm in a Boyd crusher with an 800-1,200g
rotary split, producing a nominal 1,500g split crushed sample,
which was subsequently pulverised in a LM2 ring mill. Samples were
pulverised to a nominal 85% passing 75um. All the preparation
equipment was flushed with barren material prior to the
commencement of the job. Coarse reject material was kept in the
original bag. Lab sizing analysis was undertaken on a nominal 1:25
basis. Final pulverised samples (20g) were airfreighted to Intertek
in Perth, Australia for assaying.
Sample Analysis Method
Since December 2018, samples were sent to Intertek Laboratory in
Perth for analysis (FP6/MS/OES). FP6/MS/OES is an analysis for
lithium and a suite of 21 other elements. Detection limits for
lithium range between 5ppm and 20,000ppm. The sodium peroxide
fusion (in nickel crucibles) is completed with hydrochloric acid to
dissolve the sub-sample and is considered a total dissolution.
Analysis is conducted by Inductively Coupled Plasma Mass
Spectrometry ("ICP-MS").
Prior to December 2018, Phase 1 samples were submitted to SGS
Johannesburg and later SGS Vancouver for analysis (ICP90A). ICP90
is a 28-element combination Na(2) O(2) fusion with ICP-OES. ICP-MS
was added to some submissions for additional trace element
characterisation purposes.
Mineral Resource Classification Criteria
The Ewoyaa lithium deposits show good continuity of the main
mineralised units which allowed the drill hole intersections to be
modelled into coherent, geologically robust domains. Consistency is
evident in the thickness of the structure, and the distribution of
grade appears to be reasonable along and across strike.
The Ewoyaa Mineral Resource was classified as Measured,
Indicated and Inferred Mineral Resource based on data quality,
sample spacing, and lode continuity. The Measured Mineral Resource
was defined within areas of close spaced RC and DD drilling of less
than 20m by 20m, and where the continuity and predictability of the
lode positions was good. Indicated Mineral Resource was defined
within areas of close spaced RC and DD drilling of less than 40m by
40m, and where the continuity and predictability of the lode
positions was good. In addition, Indicated Mineral Resource was
confined to the fresh rock. The Inferred Mineral Resource was
assigned to transitional material, areas where drill hole spacing
was greater than 40m by 40m, where small, isolated pods of
mineralisation occur outside the main mineralised zones, and to
geologically complex zones.
Estimation Methodology
A Surpac block model was created to encompass the extents of the
known mineralisation. The block model was rotated on a bearing of
30deg, with block dimensions of 10m NS by 10m EW by 5m vertical
with sub-cells of 2.5m by 2.5m by 1.25m. The block size was
selected based on results of Kriging Neighbourhood Analysis ("KNA")
and also in consideration of two predominant mineralisation
orientations of 30deg and 100 to 120deg.
The parent block size was selected based on KNA, while
dimensions in other directions were selected to provide sufficient
resolution to the block model in the across-strike and down-dip
direction.
Bulk densities ranging between 1.7t/m(3) and 2.78t/m(3) were
assigned in the block model dependent on lithology, mineralisation
and weathering. These densities were applied based on 13,901 bulk
density measurements conducted by the Company on 101 DD holes and
35 RC holes with diamond tails conducted across the breadth of the
Project. The measurements were separated using weathering surfaces,
geology and mineralisation solids, with averages assigned in the
block model.
Cut-off Grade
The Statement of Mineral Resources has been constrained by the
mineralisation solids and reported above a cut-off grade of 0.5%
Li(2) O. The reporting cut-off grade is supported by a high-level
Whittle optimisation.
Mining and Metallurgical Methods and Parameters
The Statement of Mineral Resources has been constrained by the
mineralisation solids, reported at a cut-off grade of 0.5% Li(2) O.
Whittle optimisations demonstrate reasonable prospects for eventual
economic extraction. Preliminary metallurgical test work indicates
four main geometallurgical domains; weathered and fresh
coarse-grained spodumene-bearing pegmatite (P1) and weathered and
fresh medium-grained spodumene-bearing pegmatite (P2). From test
work completed for the Scoping Study at a 6.3mm crush, the P1
material produces a 6% Li(2) O concentrate at approximately 70 to
85% recovery (average 75% recovery), whilst P2 material produces
5.5 to 6% Li(2) O concentrate at approximately 35 to 65% recovery
(average 47% recovery).
Further metallurgical test work completed for the PFS was done
at a 10mm crush. Recoveries for P1 material into primary
concentrate at a 10mm crush were 50-80% from the HLS test work with
an average 68% recovery for weathered and 70% for the fresh used
for the PFS before discounting.
A P2 recovery of 50% was used for weathered and fresh for the
purpose of the PFS study. In the Scoping study, HLS tests on P2
weathered and fresh material at a 6.3mm crush size gave recoveries
of 46-61%. Recoveries of P2 to primary concentrates at 10mm crush
size ranged from 7-30% and averaged 20%. The middlings contained
60% of the lithium and it is expected that after finer crushing at
least 50% of this will be recovered giving an overall recovery of
50% before discounting.
Recoveries selected for the DMS Plant process design criteria
were interpreted from laboratory results discounted by 4% to
simulate the typical loss of recoveries from laboratory conditions
to on-site, large-scale operations resulting in 66% recovery for P1
fresh, 64% recovery for P1 weathered and 46% for P2 weathered and
fresh materials (refer announcement of 22 September 2022).
Further geological, geotechnical, engineering and metallurgical
studies are recommended to further define the lithium
mineralisation and marketable products.
JORC Table 1 , Section 1 ( Sampling Techniques and Data) and
Section 2 ( Reporting of Exploration Results ) are included in
Appendix 1.
JORC Table 1 , Section 3 ( Estimation and Reporting of Mineral
Resources) is included in Appendix 2.
Competent Persons
Information in this report relating to the exploration results
is based on data reviewed by Mr Lennard Kolff (MEcon. Geol., BSc.
Hons ARSM), Chief Geologist of the Company. Mr Kolff is a Member of
the Australian Institute of Geoscientists who has in excess of 20
years' experience in mineral exploration and is a Qualified Person
under the AIM and ASX Rules. Mr Kolff consents to the inclusion of
the information in the form and context in which it appears.
Information in this report relating to Mineral Resources was
compiled by Shaun Searle, a Member of the Australian Institute of
Geoscientists. Mr Searle has sufficient experience that is relevant
to the style of mineralisation and type of deposit under
consideration and to the activity being undertaken to qualify as a
Competent Person as defined in the 2012 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mr Searle is a director of Ashmore.
Ashmore and the Competent Person are independent of the Company and
other than being paid fees for services in compiling this report,
neither has any financial interest (direct or contingent) in the
Company.
Information in this report relating to metallurgical results is
based on data reviewed by Mr Noel O'Brien, Director of Trinol Pty
Ltd. Mr O'Brien is a Fellow of the Australasian Institute of Mining
and Metallurgy (AusIMM) and has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the December 2012
edition of the "Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves" (JORC Code). Mr
O'Brien consents to the inclusion in the report of the matters
based upon the information in the form and context in which it
appears.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
For any further information, please contact:
Neil Herbert (Executive Chairman) Tel: +61 2 8072 0640
Amanda Harsas (Finance Director and Company
Secretary)
www.atlanticlithium.com.au
IR@atlanticlithium.com.au
SP Angel Corporate Finance LLP Tel: +44 (0)20 3470 0470
Nominated Adviser
Jeff Keating
Charlie Bouverat
Canaccord Genuity Limited Tel: +44 (0) 20 7523 4500
Joint Company Broker
Raj Khatri
James Asensio
Harry Rees
Liberum Capital Limited Tel: +44 (0) 20 3100 2000
Joint Company Broker
Scott Matheson
Edward Thomas
Kane Collings
Yellow Jersey PR LimitedCharles Goodwin Tel: +44 (0)20 3004 9512
Bessie Elliot
atlantic@yellowjerseypr.com
Notes to Editors:
About Atlantic Lithium
www.atlanticlithium.com.au
Atlantic Lithium (formerly "IronRidge Resources") is an AIM and
ASX-listed lithium company advancing a portfolio of projects in
Ghana and Côte d'Ivoire through to production.
The Company's flagship project, the Ewoyaa Project in Ghana, is
a significant lithium spodumene pegmatite discovery on track to
become Ghana's first lithium-producing mine. The Company signed a
funding agreement with Piedmont Lithium Inc. for US$103m towards
the development of the Ewoyaa Project. Based on the Pre-Feasibility
Study, the Ewoyaa Project has indicated Life of Mine revenues
exceeding US$4.84bn, producing a spodumene concentrate via simple
gravity only process flowsheet.
Atlantic Lithium holds a 560km(2) & 774km(2) tenure across
Ghana and Côte d'Ivoire respectively, comprising significantly
under-explored, highly prospective licenses.
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