TIDMATM
RNS Number : 5423L
Andrada Mining Limited
06 September 2023
6 September 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")
Initial Drill Results on ML133 ("Lithium Ridge")
Notable lithium intersections up to 2.13% Li O.
Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), an African
technology metals mining company with a portfolio of mining and
exploration assets in Namibia, is pleased to provide assay results
for the first batch of Reverse Circulation ("RC") exploration
drilling results of an initial scouting programme undertaken within
the ML133 mining license area ("Lithium Ridge").
Building on the channel sampling programme, whose results
highlighted the potential of the mineralised pegmatites, an
exploration drilling programme ("the Programme") was implemented to
investigate the continuation of selected lithium enriched
pegmatites at depth. This announcement contains initial results
received for 14 of the 24 holes drilled. The Programme indicates
that the targeted pegmatites continue at depth and, these
analytical results confirm the presence of significant lithium
mineralisation within multiple pegmatites.
HIGHLIGHTS
-- All drill holes intersected mineralised pegmatites.
-- Significant pegmatite intersections include:
o D rill hole ATNN 08: 14m at 1.80% Li(2) O, 0.08% Sn and 70 ppm
Ta from a depth of 8m to 22m.
- Including a notable lithium intersection of 11 m at 2.13% Li(2) O from 9m to 20m.
o Drill hole ATNN 14 :17m at 1.29% Li(2) O, 0.09% Sn and 77 ppm
Ta from a depth of 23m to 40m.
- Including a notable lithium intersection of 11 m at 1.78% Li(2) O from 23m to 34m.
o Drill hole ATNN 01: 63m at 0.80% Li(2) O, 0.12% Sn and 66 ppm
Ta from a depth of 17m to 80m.
- Including a notable lithium intersection of 35 m at 1.05% Li(2) O from 44m to 79m.
o Drill hole ATNN 02: 27m at 1.24% Li(2) O, 0.14% Sn and 116 ppm
Ta from a depth of 31m to 58m.
- Including a notable lithium intersection of 19 m at 1.50% Li(2) O from 33m to 52m.
-- This initial batch of drill results covers a strike distance
of over 4 km.
Anth ony Viljoen, Chief Executive Officer, commented:
"These initial results further highlight the mineral potential
of our mining licenses and the Erongo region in general. We have
found high-grade mineralisation within all our license areas over
the last 12 months with indications that there is more to be found
at depth.
This first batch of results confirms lithium mineralisation
along a 4 km strike, and we anticipate that the second batch will
show similar results as per the results from the channel samples
over the remaining 2 km. These results indicate intersections at
higher lithium grades than those recorded at Uis and are
commensurate to similar hard-rock resources globally.
Andrada has already produced a saleable petalite concentrate on
a pilot scale from Lithium Ridge suitable for the industrial and
technical markets. With the commissioning of the lithium pilot
plant at Uis Mine being finalised, we are evaluating various
options to expedite lithium production."
PROJECT LOCATION
The Lithium Ridge project is within the ML133 mining license
area situated approximately 35km southeast of the Uis Mine along
the D1903 road linking to the B2 highway. This license area is
situated within the NaiNais - Kohero pegmatite belt and is the
location of the former tin and tantalum concentrate producing
TinTan mine.
Overview of results
This Programme comprised 24 RC drill holes at a total of 1900 m
drilled, yielding approximately 800 samples for chemical analysis.
The results of the first 14 holes comprising approximately 400
samples are reported in this announcement.
The Programme was undertaken to investigate the subsurface
morphology and metal endowment of selected pegmatite bodies which
contain elevated lithium values at surface. Since this Programme
has been undertaken over an area the Company considers to be
greenfield, the approach has been that of caution in evaluating the
potential of each pegmatite. Due to the favourable results of the
Programme, the Company is likely to implement additional drilling
programmes with a view to defining a JORC compliant resource within
this area in the future.
The results reported as "whole intersection" in Table 1 below,
indicate a pegmatite intersection from the top to the bottom
contact. Samples with RC chips indicating the presence of xenolith
material have been included within the reported intersection. The
intersections reported as "including" represent continuous
higher-grade intervals within the total intersection of the
selected pegmatites. Although all the drill holes were drilled at
an angle of 60deg (sixty degrees) from the horizontal as
illustrated in Figure 2, the reported pegmatite intersections
should still be considered to represent apparent width.
Table 1 : Analytical results of the maiden RC drill programme
executed on the Lithium Ridge project. The 'whole intersection'
values comprise the weighted average for of the entire pegmatite
intersection including xenoliths. The remaining intersections
represent selected intervals within the pegmatites highlighting
increased metal content.
Hole Intersection From/To Width Grades
ID (m) (Metres)
Li O Sn Ta (ppm)
(%) (%)
----- ----- ---------
ATNN
01 Whole Intersection 17-80 63 0.80 0.12 66
-------------------- -------- ---------- ----- ----- ---------
Including 44-79 35 1.05 0.12 79
--------------------------- -------- ---------- ----- ----- ---------
ATNN
02 Whole Intersection 31-58 27 1.24 0.14 116
-------------------- -------- ---------- ----- ----- ---------
Including 33-52 19 1.50 0.16 113
--------------------------- -------- ---------- ----- ----- ---------
Whole Intersection 62-74 12 0.50 0.10 91
--------------------------- -------- ---------- ----- ----- ---------
ATNN
03 Whole Intersection 10-16 6 0.92 0.07 164
-------------------- -------- ---------- ----- ----- ---------
Including 11-15 4 1.28 0.09 176
--------------------------- -------- ---------- ----- ----- ---------
Whole Intersection 27-30 3 1.02 0.13 42
--------------------------- -------- ---------- ----- ----- ---------
ATNN
04 Whole Intersection 21-32 11 0.75 0.16 63
-------------------- -------- ---------- ----- ----- ---------
Including 24-29 5 1.34 0.19 66
--------------------------- -------- ---------- ----- ----- ---------
ATNN
05 Whole Intersection 10-26 16 1.18 0.16 54
-------------------- -------- ---------- ----- ----- ---------
Including 13-24 11 1.42 0.17 54
--------------------------- -------- ---------- ----- ----- ---------
Whole Intersection 76-83 7 0.37 0.13 46
--------------------------- -------- ---------- ----- ----- ---------
ATNN
06 Whole Intersection 30-40 10 0.36 0.19 81
-------------------- -------- ---------- ----- ----- ---------
ATNN
07 Whole Intersection 26-32 6 0.33 0.07 85
-------------------- -------- ---------- ----- ----- ---------
ATNN
08 Whole Intersection 08-22 14 1.80 0.08 70
-------------------- -------- ---------- ----- ----- ---------
Including 09-20 11 2.13 0.08 70
--------------------------- -------- ---------- ----- ----- ---------
ATNN
10 Whole Intersection 18-28 10 0.59 0.14 67
-------------------- -------- ---------- ----- ----- ---------
ATNN
11 Whole Intersection 26-36 10 1.03 0.06 43
-------------------- -------- ---------- ----- ----- ---------
Including 27-30 3 1.86 0.02 36
--------------------------- -------- ---------- ----- ----- ---------
ATNN
12 Whole Intersection 43-53 10 0.11 0.17 48
-------------------- -------- ---------- ----- ----- ---------
ATNN
13 Whole Intersection 30-37 7 0.85 0.19 121
-------------------- -------- ---------- ----- ----- ---------
ATNN
14 Whole Intersection 23-40 17 1.29 0.09 77
-------------------- -------- ---------- ----- ----- ---------
Including 23-34 11 1.78 0.11 76
--------------------------- -------- ---------- ----- ----- ---------
All reported holes were drilled by RC methodology at an
inclination of 60deg from the horizontal. Downhole surveys through
magnetic deviation probe at 2 m intervals, were completed for each
hole immediately after drilling and collar locations were surveyed
using a differential GPS. Due to the undulating dip angle of the
pegmatites, the intersections are assumed to be an indication of
apparent thickness, which is greater than true thickness.
Other minor pegmatites identified in drill holes have not been
reported, because they are not currently considered to be of
economic significance. Each drill hole was geologically logged and
sampled at 1 m intervals with the entire RC sample being dispatched
to the laboratory for preparation. The sample analysis was
undertaken by UIS Analytical Services, a certified independent
laboratory in Namibia, using a peroxide fusion. ICP-OES analysis
was utilised for major and minor elements whilst ICP-MS was
utilised for the trace elements. No top cut was applied in
calculating the weighted average grades for anomalously rich
intersections.
Figure 1 : Map displaying the localities of the reported holes,
and the mapped surface exposure or pegmatites. Line A-A' indicates
the area represented by the cross section in Figure 2 below .
Figure 2 : Section line A-A' displaying a projection of the
drill holes results in this announcement. Since there are no second
intersections of each intrusive body, the morphology of the unit
was extrapolated using mapped surface expressions. All holes were
drilled at an inclination of 60deg from the horizontal.
Competent Person Statement
The technical data in this announcement has been reviewed by
Professor Laurence Robb ("Prof. Robb"), who is a non-executive
director of Andrada Mining. Prof. Robb has over 30 years of
industry related exploration and mineral experience and is a
Competent Person for the reporting of exploration results. He has
reviewed both the technical disclosures in this release as well as
the quality assurance protocols and results for this programme.
Glossary of abbreviations
GPS Global Positioning System
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
---------------------------------------------------------
RC Reverse Circulation
---------------------------------------------------------
Sn Symbol for Tin
---------------------------------------------------------
Ta Symbol for Tantalum
---------------------------------------------------------
Contact
Andrada Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO investorrelations@andradamining.com
Sakhile Ndlovu, Investor Relations
Nominated Adviser
WH Ireland Limited
Katy Mitchell +44 (0) 207 220 1666
Corporate Adviser and Joint
Broker
H&P Advisory Limited
Andrew Chubb
Jay Ashfield
Matt Hasson +44 (0) 20 7907 8500
Stifel Nicolaus Europe Limited
Ashton Clanfield
Calum Stewart
Varun Talwar +44 (0) 20 7710 7600
Tavistock Financial PR (United +44 (0) 207 920 3150
Kingdom) andrada@tavistock.co.uk
Jos Simson
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.
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 existing mine, together with 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 extensive 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 the manner in which 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.
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
DRLMZGGLKVNGFZG
(END) Dow Jones Newswires
September 06, 2023 02:00 ET (06:00 GMT)
Andrada Mining (LSE:ATM)
Historical Stock Chart
From Jan 2025 to Feb 2025
Andrada Mining (LSE:ATM)
Historical Stock Chart
From Feb 2024 to Feb 2025
