TIDMATM
RNS Number : 1002F
Andrada Mining Limited
06 July 2023
6 July 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 will be in the
public domain.
Andrada Mining Limited
("Andrada" or the "Company")
Drill programme results for the Spodumene Hill Project on
ML129
Drill results provide indication of high-grade spodumene zones
within the B1 and C1 pegmatites.
Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), the African
technology metals mining company with a portfolio of mining and
exploration assets in Namibia is pleased to provide assay results
for the inaugural drill programme undertaken over the B1 and C1
pegmatites, located within the ML129 mining license and referred to
as the Spodumene Hill Project.
HIGHLIGHTS
-- All drill holes intersected mineralised pegmatites, indicating continuity at depth.
-- Significant pegmatite intersections include:
o Drill hole B1_01: 14.52 m at 1.38% Li(2) O, 285 ppm Ta and
0.131% Sn from a depth of 15.48 m to 30.00 m.
-- Including notable lithium intersections of 5 m at 2.32% Li(2)
O from 18 m to 23 m; and 2.5m at 2.04% Li(2) O from 25.5m to 28
m.
o Drill hole B1_09 : 12.78 m at 0.74% Li(2) O, 181 ppm Ta and
0.052% Sn from a depth of 65.80 m to 78.58 m.
-- Including a notable lithium intersection of 4.66 m at 1.45%
Li(2) O from 69 m to 73.66 m.
o Drill hole C1_04: 11.06 m at 0.81% Li(2) O, 1101 ppm Ta and
0.033% Sn from a depth of 13.59 m to 24.65 m.
-- Including a notable lithium intersection of 3.65 m at 2.14%
Li(2) O from 16 m to 19.65 m.
-- High grade lithium intersections suggest the presence of
significant spodumene mineralisation.
-- The pegmatite intersections are positive for tantalum and
provide additional upside, in the light of the near completion of
the tantalum concentration circuit.
-- Metallurgical programme initiated to investigate the optimal beneficiation process.
Anthony Viljoen, Chief Executive Officer, commented:
"These drill results provide an initial glimpse into the
potential of the Spodumene Hill Project. The identified high-grade
lithium intersections within the pegmatite could be separated
through ore sorting to provide a potentially high-grade
pre-concentrate for the lithium processing plant.
These results have also highlighted the tantalum potential of
this area, and the relevance of the recently constructed tantalum
recovery circuit. The proximity of the Spodumene Hill Project to
the existing operations provides an immediate opportunity for
additional revenues from the project area by blending tantalum
grades.
The highlighted intersections provide a promising starting point
for the next phase of exploration which will aim to define the
extent of these zones both laterally and with depth. We have also
initiated a metallurgical programme to investigate the optimal
beneficiation process for the recovery of both lithium and
tantalum, whilst also producing tin as a by-product."
OVERVIEW OF THE RESULTS
An exploration drill programme was undertaken on the Spodumene
Hill Project, resulting in 1159 m of Diamond Drilling ("DD") being
completed over seventeen drill holes. The pegmatite intersections
reported here will form the base of an updated geological model and
development of an ongoing exploration initiative. The drill results
indicate zones of lithium enrichment within the pegmatite unit with
the primary and only lithium ore mineral identified thus far being
spodumene. The construction of a lithium pilot plant and tantalum
processing circuit will assist with metallurgical investigations
and the development of an optimised process flow diagram for
material from these pegmatites.
The tabulated results (Table 1) provide the weighted average
metal content of the entire pegmatite intersection and show the
selected intersections, including those within the pegmatites. The
selected intervals highlight areas where lithium values are greater
than the average indicated by the entire pegmatite intersection and
indicate that these pegmatites may contain zones of elevated
lithium mineralisation. Future work programmes will investigate the
nature and origin of these higher-grade zones within the pegmatite,
with the aim of identifying extensions and additional
occurrences.
Table 1 : Exploration results of diamond drill holes indicating
the full pegmatite intersections, grade and selected internal
intersections. The drill holes were oriented with an inclination of
60 degrees, intersections are indicative of apparent thickness and
not true thickness.
Hole Pegmatite From - To Interval Grade
ID (m) (m)
-------------------------
Li O Ta (ppm) Sn (%)
(%)
----- --------- -------
B1 01 B1 15.48 - 30.00 14.52 1.38 285 0.131
----------- --------------- --------- ----- --------- -------
Including 18.00 - 23.00 5.00 2.32 159 0.124
----------- ----------------------- --------- ----- --------- -------
Including 25.50 - 28.00 2.50 2.04 161 0.216
----------- ----------------------- --------- ----- --------- -------
B1 02 B1 17.44 - 51.35 33.91 0.22 187 0.093
----------- --------------- --------- ----- --------- -------
B1 03 B1 13.08 - 39.55 26.47 0.38 169 0.080
----------- --------------- --------- ----- --------- -------
B1 04 B1 6.93 - 32.18 25.25 0.45 147 0.072
----------- --------------- --------- ----- --------- -------
Including 10.00 - 13.00 3.00 1.25 133 0.052
----------- ----------------------- --------- ----- --------- -------
B1 05 B1 20.10 - 37.18 17.08 0.47 110 0.070
----------- --------------- --------- ----- --------- -------
Including 22.15 - 28.00 5.85 0.91 105 0.111
----------- ----------------------- --------- ----- --------- -------
B1 06 B1 53.75 - 71.50 17.75 0.22 147 0.119
----------- --------------- --------- ----- --------- -------
B1 07 B1 74.84 - 85.64 10.80 0.44 119 0.049
----------- --------------- --------- ----- --------- -------
Including 79.00 - 80.00 1.00 1.86 151 0.045
----------- ----------------------- --------- ----- --------- -------
B1 08 B1 52.61 - 61.95 9.34 0.18 166 0.083
----------- --------------- --------- ----- --------- -------
B1 09 B1 4.60 - 62.32 57.72 0.19 352 0.076
----------- --------------- --------- ----- --------- -------
B1 Lower 65.80 - 78.58 12.78 0.74 181 0.052
----------- ----------------------- --------- ----- --------- -------
Including 69.00 - 73.66 4.66 1.45 116 0.088
----------- ----------------------- --------- ----- --------- -------
C1 01 C1 10.00 - 20.65 10.65 0.26 243 0.062
----------- --------------- --------- ----- --------- -------
C1 02 C1 11.15 - 18.1 6.95 0.48 426 0.066
----------- --------------- --------- ----- --------- -------
Including 15.97 - 17.46 1.49 0.99 803 0.052
----------- ----------------------- --------- ----- --------- -------
C1 03 C1 13.50 - 28.26 14.76 0.20 343 0.037
----------- --------------- --------- ----- --------- -------
C1 04 C1 13.59 - 24.65 11.06 0.81 1101 0.033
----------- --------------- --------- ----- --------- -------
Including 16.00 - 19.65 3.65 2.14 2742 0.057
----------- ----------------------- --------- ----- --------- -------
C1 05 C1 45.68 - 52.76 7.08 0.09 233 0.026
----------- --------------- --------- ----- --------- -------
C1 06 C1 53.64 - 59.91 6.27 0.44 163 0.049
----------- --------------- --------- ----- --------- -------
Including 55.00 - 56.50 1.50 1.20 212 0.074
----------- ----------------------- --------- ----- --------- -------
C1 07 C1 43.21 - 46.17 2.96 0.02 304 0.020
----------- --------------- --------- ----- --------- -------
C1 08 C1 14.00 - 37.6 23.60 0.25 463 0.045
------- ----------- --------------- --------- ----- --------- -------
Including 18.00 - 22.00 4.00 0.92 129 0.021
----------- ----------------------- --------- ----- --------- -------
All drill holes were drilled as DD at an inclination of sixty
degrees from the horizontal. In all instances, apart from drill
holes B1 09 and C1 08, the holes were planned to intersect the
pegmatite perpendicular to the surface strike direction. Due to the
undulating dip angle of the pegmatite units the intersections are
assumed to be an indication of apparent thickness, which is greater
than true thickness.
Other minor pegmatites identified in the drill hole, have not
been reported on because they are not considered to be of economic
significance. Each drill hole was geologically and geotechnically
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. No top
cut has been applied when calculating the weighted average grades
for anomalously rich intersections.
Figure 1 : Maps of the programme indicating: A) The localities
of the pegmatites in relation to each other, the holes drilled
during this programme and the main road linking Uis and Henties
Bay. B) The mapped outcrop areas of the B1 pegmatite and location
of the drill holes for this programme and indicating the locality
of the section line in Figure 2. C) The mapped pegmatite outcrop
area and location of the C1 location of the drill holes.
Figure 2 : Cross section through line A-A' as indicated in
Figure 1B, showing the average grade of the whole intersection and
the two selected intersections within the pegmatite as indicated in
Table 1.
COMPETENT PERSON STATEMENT
The technical data relating to the exploration results in this
announcement have been reviewed by Professor Laurence Robb
(M.Sc.,PhD; FGSSA, FSEG, CGeol., Pr. Sci Nat. (Geological
Sciences)), who is Visiting Professor at the University of Oxford
and University of Johannesburg. Professor Robb is a non-executive
director of Andrada Mining and has over 40 years of experience
working in many of the great African mineral districts, including
the Witwatersrand Basin, the Bushveld Complex, Barberton,
Namaqualand, and the Birimian of West Africa. He also undertook
extensive research into the metallogeny of southeast Asia (Malaysia
and Myanmar). Professor Robb consents to the inclusion of the
information in the form and context in which it appears.
Glossary of abbreviations
DD Diamond Drilling
ICP-MS Inductively Coupled Plasma-Mass Spectrometry
---------------------------------------------------------
ICP-OES Inductively Coupled Plasma-Optical Emission Spectrometry
---------------------------------------------------------
Li Symbol for Lithium
---------------------------------------------------------
Li -> Metal to metal-oxide conversion factor of 2.153
Li(2)
O
---------------------------------------------------------
Li(2) Lithium oxide
O
---------------------------------------------------------
PPM Parts Per Million
---------------------------------------------------------
QA/QC Quality Assurance / Quality Control
---------------------------------------------------------
Sn Symbol for Tin
---------------------------------------------------------
Ta Symbol for Tantalum
---------------------------------------------------------
Glossary of 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.
-------------------------------------------------------------------------------------------------
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.
-------------------------------------------------------------------------------------------------
_______________________________________________________________________________________
Andrada Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO investorrelations@andradamining.com
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
Matt Hasson +44 (0) 20 7907 8500
Stifel Nicolaus Europe Limited
Ashton Clanfield
Callum Stewart
Varun Talwar +44 (0) 20 7710 7600
Tavistock Financial PR (United +44 (0) 207 920 3150
Kingdom) andrada@tavistock.co.uk
Emily Moss
Catherine Drummond
Adam Baynes
About Andrada Mining Limited
Andrada Mining Limited has 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.
Andrada has three mining licences namely;
-- ML134 on which Uis Mine is located.
-- ML133 (Nai Nais / Lithium Ridge).
-- ML129 (B1C1 / Spodumene Hill).
The main minerals in these mining licences are tin, lithium and
tantalum. Additionally, the Company has an exploration licence
EL5445 (Brandberg West) on which the main minerals are tin, copper
and tungsten. 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 a 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]
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