TIDMATM
RNS Number : 6584O
Andrada Mining Limited
02 February 2023
02 February 2023
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in
the United Kingdom pursuant to the European Union (Withdrawal) Act
2018. Upon the publication of this announcement via Regulatory
Information Service (RIS), this inside information is now
considered to be in the public domain.
Andrada Mining Limited
("Andrada" or the "Company")
Lithium And Tantalum Infill Drill Programme Update
Andrada Mining Limited, formerly Afritin Mining Limited (AIM:
ATM), an African technology metals mining company with a portfolio
of mining and exploration assets in Namibia, announces further
results from the lithium and tantalum infill drilling programme at
the Company's flagship operation, the Uis Mine ("Uis"). The
programme aims to upgrade the existing lithium and tantalum 2019
Mineral Resource, stated in accordance with JORC (2012).
This update announces the results of 14 drill holes as
illustrated on Figure 1. These results increase the total number of
holes reported on to 49 of the 50-hole drilling programme,
comprising 29 diamond and 21 reverse circulation ("RC") drill
holes. The aim of the programme is to increase the confidence of
the existing lithium and tantalum Mineral Resource estimates in the
V1/V2 pegmatite.
Highlights:
-- Pegmatite was intersected in all holes at the depths and
apparent widths, as predicted by the geological model;
-- Significant pegmatite intersections include:
o 94 m at 0.152% Sn, 66 ppm Ta and 1.18% Li(2) O for the drill
hole V1V2051, from 139 m to 233 m;
o 43 m at 0.147% Sn, 92 ppm Ta and 1.08% Li(2) O, from 57 m to
100 m; and 27 m at 0.25% Sn, 60 ppm Ta and 1.09% Li(2) O from 117 m
to 144 m, for the drill hole V1V2048;
o 63 m at 0.151% Sn, 79 ppm Ta and 1.43% Li(2) O for drill hole
V1V2043 from 59 m to 122 m;
o 30 m at 0.141% Sn, 117 ppm Ta and 1.34% Li(2) O for drill hole
V1V2035 from 82 m to 117 m.
o 35 m at 0.140% Sn, 108ppm Ta and 1.23% Li(2) O for drill hole
V1V2038 from 71m to 106 m.
-- Notable intersections of lithium mineralisation within the
pegmatite intersections include:
o 63 m at 1.43% Li(2) O for drill hole V1V2043 from 59 m to 122
m;
o 30 m at 1.34% Li(2) O for drill hole V1V2035 from 82m to 112
m;
o 35 m at 1.23% Li(2) O for drill hole V1V2038 from 71m to 106
m.
Anthony Viljoen (CEO) commented:
"As we continue to report on the drilling programme results, I
am pleased that they further highlight the mineralisation potential
of the V1/V2 pegmatite ore body. The additional 14 holes being
reported on in this announcement are located in the centre of the
pegmatite and show that the potential lithium, tin, and tantalum
mineralisation continuing at depth. The higher lithium grades of up
to 1.43% lithium oxide are particularly exciting because they
further demonstrate the unrealised potential of the V1/V2 orebody
and support the early development of a lithium processing plant. We
look forward to providing additional information on the lithium
resource through an updated Mineral Resource Estimate in the near
future."
Overview of the results
The pegmatite intersections reported in this update align with
the current geological model, confirming its spatial accuracy. The
drill holes intersected the pegmatite at shallow depths where the
V1 and V2 bodies have bifurcated into individual units, as well as
at greater depths where the units coalesce into a single pegmatite,
drill holes V1V2058 and V1V2080 were stopped within the pegmatite
and do not represent the full intersection. The dip angle of the
pegmatites varies from 24 degrees to 48 degrees and the majority of
reported drill holes are orientated vertically such that the
reported intersections represent apparent thickness. Holes
V1V12050, V1V12051 and V1V12034 are inclined and intersected the
pegmatite at approximately right angles.
Table 1 : Exploration results of Diamond Drilling holes V1V2044,
V1V2050, V1V2051, V1V2052, V1V2054, V1V2037, V1V2048, V1V2058,
V1V2080, V1V2043, V1V2035, V1V2040, V1V2038, and V1V2034 indicating
the pegmatite intersection and pegmatite grades. Intersections are
indicative of apparent thickness and not true thickness. Drill hole
V1V2058 and V1V2080 ended within the pegmatite. Note that apparent
thickness is greater than true thickness.
Hole Dip Pegmatite From/To Interval Grade
ID Angle (m) Including (m)
(Degrees) Waste
----------------------
Sn Ta Li2O
(%) (ppm) (%)
------ ------- -----
V1V2044 Vertical V1/V2 99-109 10 0.059 143 0.55
------------ --------------------------------- --------------- --------- ------ ------- -----
V1/V2 112-192 82 0.159 64 0.53
--------------------------------- --------------- --------- ------ ------- -----
V1/V2 Whole intersection 199-202 3 0.148 36 0.44
----------- ------------------------------------------- --------------- --------- ------ ------- -----
V1V2050 58deg V2 Whole intersection 113-155 42 0.153 83 0.96
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V1 163-180 17 0.195 63 1.08
--------------------------------- --------------------- --------------- --------- ------ ------- -----
V1V2051 78deg V1/V2 Whole intersection 139-233 94 0.152 66 1.18
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V1V2052 Vertical V1 Whole intersection 39-63 24 0.158 79 0.45
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V1V2054 Vertical V1 Whole intersection 9-57 48 0.143 104 0.40
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V1V2037 Vertical V2 Whole intersection 39-64 25 0.143 112 1.19
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V1V2048 Vertical V2 Whole intersection 57-100 43 0.147 92 1.08
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V1 117-144 27 0.250 60 1.09
--------------------------------- --------------------- --------------- --------- ------ ------- -----
V1V2058 Vertical V2 Whole intersection 129-132 3 0.090 218 0.41
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V2 137-184 47 0.162 101 0.80
--------------------------------- --------------------- --------------- --------- ------ ------- -----
V1V2080 Vertical V1/V2 Whole intersection 121-158 37 0.141 91 0.79
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V1V2043 Vertical V1/V2 Whole intersection 43-46 3 0.111 204 0.67
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V1/V2 59-122 63 0.151 79 1.43
--------------------------------- --------------------- --------------- --------- ------ ------- -----
V1V2035 Vertical V2 Whole intersection 82-112 30 0.141 117 1.34
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V1V2040 Vertical V2 55-61 6 0.131 109 0.84
------------ --------------------------------- --------------- --------- ------ ------- -----
V2 64-74 10 0.147 91 1.17
--------------------------------- --------------- --------- ------ ------- -----
V1 Whole intersection 83-103 20 0.147 58 1.04
----------- ------------------------------------------- --------------- --------- ------ ------- -----
V1V2038 Vertical V2 Whole intersection 71-106 35 0.140 108 1.23
------------ ----------- -------------------- --------------- --------- ------ ------- -----
V1V2034 75deg V2 Whole intersection 156-208 52 0.117 71 0.75
------------ ----------- -------------------- --------------- --------- ------ ------- -----
Each drill hole was geologically logged before being sampled.
The sample analysis was undertaken by UIS Analytical Services, a
certified independent laboratory, using a peroxide fusion. ICP-OES
analysis was utilised for major and minor elements and ICP-MS
utilised for the trace elements.
Figure 1 : Map displaying the localities of the reported holes,
the drill holes of the previous (2019) exploration programme and
the holes from the current programme previously reported.
Line A-A' indicates the area represented by cross section
(Fig.2).
Figure 2 : Section line A-A' displaying a projection of the
holes drilled during the current programme for which the results
are reported in this release and previous communications for this
programme.
Competent Person statement
The technical data in this announcement has been reviewed by
Michael Cronwright (M.Sc., FGSSA, Pr. Sci Nat. (Geological
Sciences)) of CSA Global, who provides geological consulting
services to Andrada. Mr Cronwright is the Principal Consultant -
Battery Metals for CSA Global and has 22 years of exploration and
mineral project development experience and is a Competent Person
for the reporting of these exploration results. He has reviewed
both the technical disclosures in this release as well as the
quality assurance protocols and results for the assay campaign. Mr
Cronwright consents to the release of the information contained in
the announcement and is satisfied that the results of the QAQC on
the assay results released to date are sufficient to support the
planned estimation of Mineral Resources.
Glossary of abbreviations
ICP-MS Inductively Coupled Plasma-Mass Spectrometry
ICP-OES Inductively Coupled Plasma-Optical Emission Spectrometry
-----------------------------------------------------------------------------------------------
Li Symbol for Lithium
-----------------------------------------------------------------------------------------------
Li -> Li(2) O Metal to metal-oxide conversion factor of 2.153
-----------------------------------------------------------------------------------------------
Li(2) O Lithium oxide
-----------------------------------------------------------------------------------------------
JORC The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves
-----------------------------------------------------------------------------------------------
MRE Mineral Resource Estimate
-----------------------------------------------------------------------------------------------
PPM Parts Per Million
-----------------------------------------------------------------------------------------------
QA/QC Quality Assurance / Quality Control
-----------------------------------------------------------------------------------------------
RC Reverse Circulation drilling
-----------------------------------------------------------------------------------------------
Sn Symbol for Tin
-----------------------------------------------------------------------------------------------
Ta Symbol for Tantalum
-----------------------------------------------------------------------------------------------
V1/V2 Name of the targeted pegmatite unit, V1/V2 denotes where the V1 and V2 pegmatites have merged
at depth.
-----------------------------------------------------------------------------------------------
Glossary of technical terminology
Apparent thickness The relationship between apparent width and true thickness is based on the formula by Addie
(1968 Economic Geology, vol 63, pp 188-189).
Dip angle The angle of inclination measured downward from horizontal.
-------------------------------------------------------------------------------------------------
Geological model The interpretation of mineralisation and geology that controls mineralisation. This is usually
generated in a three-dimensional computer environment.
-------------------------------------------------------------------------------------------------
Mineral resources Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred,
Indicated and Measured categories. An Inferred Mineral Resource has a lower level of confidence
than that applied to an Indicated Mineral Resource. An Indicated Mineral Resource has a higher
level of confidence than an Inferred Mineral Resource but has a lower level of confidence
than a Measured Mineral Resource.
-------------------------------------------------------------------------------------------------
Pegmatite An igneous rock typically of granitic composition, which is distinguished from other igneous
rocks by the extremely coarse and systematically variable size of its crystals, or by an
abundance
of crystals with skeletal, graphic, or other strongly directional growth habits, or by a
prominent
spatial zonation of mineral assemblages, including monomineralic zones.
-------------------------------------------------------------------------------------------------
Xenolith A foreign rock fragment (e.g., schist) within an intrusive body (e.g. pegmatite) that is
unrelated
to the igneous body.
-------------------------------------------------------------------------------------------------
Andrada Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO
Sakhile Ndlovu, Head of Investor
Relations
Nominated Adviser +44 (0) 207 220 1666
WH Ireland Limited
Katy Mitchell
Corporate Advisor and Joint Broker
H&P Advisory Limited
Andrew Chubb
Jay Ashfield
Nilesh Patel +44 (0) 20 7907 8500
Stifel Nicolaus Europe Limited +44 (0) 20 7710 7600
Ashton Clanfield
Callum Stewart
Varun Talwar
Tavistock Financial PR (United
Kingdom) +44 (0) 207 920 3150
Emily Moss
Catherine Drummond
Adam Baynes
__________________________________________________________________________________________
About Andrada Mining Limited
Andrada Mining Limited, formerly Afritin Mining Limited, is a
London-listed technology metals mining company with a vision to
create a portfolio of globally significant, conflict-free,
production and exploration assets. The Company's flagship asset is
the Uis Mine in Namibia, formerly the world's largest hard-rock
open cast tin mine.
Lithium laboratory test work completed during the 2022 calendar
year indicated a high-grade, ultra-low iron lithium petalite
concentrate. The test work to convert lithium petalite concentrate
to battery-grade lithium hydroxide was initiated with Nagrom, a
leading Australian processing company, and commercial engagements
with lithium petalite concentrate off - takers are on-going.
An exploration drilling programme is currently underway with the
aim of expanding the tin resource over the fourteen additional,
historically mined pegmatites, all of which occur within a 5 km
radius of the current processing plant. The Company has set a
mineral resource target of 200 Mt to be delineated within the next
5 years. The substantial mineral resource potential allows the
Company to consider economies of scale.
Andrada is managed by a board of directors with extensive
industry knowledge and management team with deep commercial and
technical skills. Furthermore, the Company is committed to the
sustainable development of its operations and the growth of its
business. This is demonstrated by how the leadership team places
significant emphasis on creating value for the wider community,
investors, and other key stakeholders. Andrada has established an
environmental, social and governance system which has been
implemented at all levels of the Company and aligns with
international standards.
-END-
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLNKDBQCBKDQBK
(END) Dow Jones Newswires
February 02, 2023 02:00 ET (07:00 GMT)
Andrada Mining (LSE:ATM)
Historical Stock Chart
From Mar 2025 to Apr 2025
Andrada Mining (LSE:ATM)
Historical Stock Chart
From Apr 2024 to Apr 2025
