Aim-listed Atlantic Lithium has received assay results for an additional 4 000 m of reverse circulation (RC) drilling completed at the Ewoyaa Main and Grasscutter North targets in Ghana, where the company hopes to deliver the country’s first lithium mine.

Broad, high-grade drill intersections returned at the Ewoyaa Main deposit included a 46 m intersection at 1.21% lithium oxide (Li2O) from 115 m; 43 m at 1.08% Li2O from 126 m; 31 m at 1.43% Li2O from 179 m; and 10 m at 1.39% Li2O from 112 m, with mineralization open at depth and further assays pending.

The company said on Tuesday, that the newly reported drilling results fell outside the 2012 Joint Ore Reserves Committee- (Jorc-) compliant mineral resource estimate (MRE) and extended the mineralization a further 75 m downdip at the Ewoyaa Main deposit, providing confidence in future resource growth potential.

About 24 900 m of the planned 37 000 m resource evaluation and exploration RC and diamond core drilling programme has been completed to date and is planned for completion in the third quarter.

About 8 560 m of assay results have been reported to date from the ongoing 37 000 m planned drilling programme, with an ongoing news flow of drill results.

Atlantic announced a significant resource upgrade in March to 30.1-million tonnes at 1.26% Li2O for the Ewoyaa lithium deposit, which represents a 42% increase from the previous MRE. This included a Jorc-compliant 20.5-million tonnes at 1.29% Li2O in the indicated category.

“We are pleased to report ongoing and significant high-grade pegmatite intervals over broad widths below the Ewoyaa Main deposit and outside of the currently defined resource volume, giving us confidence to deliver future resource upgrades for the project.

Atlantic Lithium interim CEO Lennard Kolff said remaining assays were pending for two of the holes, which had long intervals of visible spodumene reported and initial high-grade results received of 10 m at 1.39% Li2O with mineralisation open at depth.

“Our ongoing exploration programme demonstrates considerable scope for resource growth and the potential for an extended mine life beyond the metrics of the scoping study. This, in conjunction with further economic benefits from increased spodumene concentrate pricing, continue to demonstrate Ewoyaa as an industry-leading asset,” Kolff said.

He said that, with the prefeasibility study targeted for completion in the third quarter, and the project being funded to production through an agreement with Piedmont Lithium, Atlantic was positioned to benefit from growing lithium demand.