TIDMATM
RNS Number : 6887M
Andrada Mining Limited
18 September 2023
18 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")
Final Results for the Initial Drill Programme on ML133 ("Lithium
Ridge")
Lithium intersections persist along strike with spodumene and
petalite as primary minerals.
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 remaining 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 the results of the
remaining 11 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 and associated
tin mineralisation within multiple pegmatites.
HIGHLIGHTS
-- All drill holes intersected mineralised pegmatites with
spodumene and petalite identified as the primary lithium
minerals.
-- Significant pegmatite intersections include:
o D rill hole ATNN 17: 39 m at 1.57% Li (2) O, 0.16% Sn and 56
ppm Ta from 16 m to 55 m.
- Including a notable lithium intersection of 25 m at 1.73% Li (2) O from 29 m to 54 m.
o Drill hole ATNN 23 : 57 m at 1.52% Li (2) O, 0.15% Sn and 58
ppm Ta from 15 m to 72 m.
- Including a notable lithium intersection of 32 m at 1.85% Li (2) O from 30 m to 62 m.
o Drill hole ATNN 24: 20 m at 1.36% Li (2) O, 0.16% Sn and 44 ppm Ta from 20 m to 40 m.
- Including a notable lithium intersection of 9 m at 2.01% Li (2) O from 27 m to 36 m.
o Drill hole ATNN 25: 22 m at 1.28% Li (2) O, 0.14% Sn and 72
ppm Ta from a depth of 17 m to 39 m.
- Including a notable lithium intersection of 9 m at 2.03% Li (2) O from 27 m to 36 m.
-- These results represent the remaining 2km of strike providing
a combined mineralised strike of 6km.
Anth ony Viljoen, Chief Executive Officer, commented:
"The second and final batch of drill results confirm the
potential of Lithium Ridge. They confirm that the 6km of
mineralisation at surface continues at depth. As previously stated,
these results for the remaining 2km of strike indicate
intersections at higher lithium grades than those recorded at Uis
and are commensurate with similar hard-rock resources globally. We
are encouraged that these results also have tin grades similar to
those at Uis which will be investigated for by-product
potential.
"Following the production of a saleable lithium concentrate from
Lithium Ridge in May 2023, the recently commissioned lithium pilot
plant will, when completed, facilitate the determination of an
optimal flow sheet as the development advances."
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 producing TinTan mine.
Overview of results
The programme comprised 24 RC drill holes for a total of 1900 m
drilled, yielding approximately 800 samples for chemical analysis.
The results of the first 13 drill holes have been disclosed (see
announcement dated 6 September 2023), while the results of the
remaining eleven drill 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 one of caution in evaluating the
potential of each pegmatite. Due to the favourable results of this
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 higher-grade
intervals within the total intersection of the selected pegmatites.
Although all the drill holes were drilled at an angle of 60deg (60
degrees) from the horizontal, except for drill hole ATNN21 which
was drilled 55deg from the horizontal. The reported pegmatite
intersections should still be considered to represent apparent
widths.
Table 1 : Analytical results of the maiden RC drill programme
implemented at Lithium Ridge. The 'whole intersection' values
comprise the weighted average for the entire pegmatite
intersection, including xenoliths. The remaining intersections
represent selected intervals aimed at highlighting enhanced metal
content.
Hole Intersection From/To Intersection Grades
ID (m) (Metres)
Li O Sn Ta (ppm)
(%) (%)
----- ----- ---------
ATNN
15 Whole Intersection 62-68 6 1.45 0.23 54
-------------------- -------- ------------- ----- ----- ---------
Whole Intersection 73-87 14 1.09 0.11 42
----------------------------- -------- ------------- ----- ----- ---------
ATNN
16 Whole Intersection 55-61 6 1.42 0.15 69
-------------------- -------- ------------- ----- ----- ---------
Whole Intersection 72-80 8 0.41 0.09 129
----------------------------- -------- ------------- ----- ----- ---------
ATNN
17 Whole Intersection 16-55 39 1.57 0.16 56
-------------------- -------- ------------- ----- ----- ---------
Including 29-54 25 1.73 0.12 47
----------------------------- -------- ------------- ----- ----- ---------
ATNN
18 Whole Intersection 48-64 16 1.32 0.21 33
-------------------- -------- ------------- ----- ----- ---------
Including 53-59 6 1.76 0.30 34
----------------------------- -------- ------------- ----- ----- ---------
ATNN19 Whole Intersection 17-21 4 1.11 0.11 70
-------------------- -------- ------------- ----- ----- ---------
Whole Intersection 33-36 3 0.79 0.17 88
----------------------------- -------- ------------- ----- ----- ---------
Whole Intersection 38-42 4 1.11 0.12 100
----------------------------- -------- ------------- ----- ----- ---------
ATNN
20 Whole Intersection 62-74 12 1.11 0.25 77
-------------------- -------- ------------- ----- ----- ---------
Including 65-73 8 1.39 0.25 76
----------------------------- -------- ------------- ----- ----- ---------
Whole Intersection 81-99 18 0.55 0.08 109
----------------------------- -------- ------------- ----- ----- ---------
Including 88-90 2 1.59 0.10 115
----------------------------- -------- ------------- ----- ----- ---------
ATNN
21 Whole Intersection 24-31 7 0.58 0.17 72
-------------------- -------- ------------- ----- ----- ---------
ATNN
22 Whole Intersection 59-62 3 1.28 0.08 112
-------------------- -------- ------------- ----- ----- ---------
Whole Intersection 74-80 6 1.20 0.11 80
----------------------------- -------- ------------- ----- ----- ---------
Including 75-79 4 1.58 0.11 96
----------------------------- -------- ------------- ----- ----- ---------
ATNN
23 Whole Intersection 15-72 57 1.52 0.15 58
-------------------- -------- ------------- ----- ----- ---------
Including 30-62 32 1.85 0.16 59
----------------------------- -------- ------------- ----- ----- ---------
ATNN
24 Whole Intersection 20-40 20 1.36 0.16 44
-------------------- -------- ------------- ----- ----- ---------
Including 27-36 9 2.01 0.14 51
----------------------------- -------- ------------- ----- ----- ---------
ATNN
25 Whole Intersection 17-39 22 1.28 0.14 72
-------------------- -------- ------------- ----- ----- ---------
Including 27-36 9 2.03 0.12 63
----------------------------- -------- ------------- ----- ----- ---------
All reported holes were drilled by RC methodology at an
inclination of 60deg from the horizontal. Downhole surveys using a
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 South Africa, 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 of the intersections.
Figure 1 : Map displaying the localities of the reported holes,
and the mapped surface exposure of pegmatites. Line A-A' indicates
the position of the cross section shown in Figure 2 below.
Figure 2 : Section line A-A' displaying a projection of the
drill hole for which the results are reported in this announcement.
Since there are no additional intersections of each intrusive body,
the shape of the unit was extrapolated from mapped surface
expressions. All holes were drilled at an inclination of 60deg from
the horizontal.
Figure 3 : Map indicating the location of the drill holes
reported with this release in relation to the drill holes
previously reported (see announcement dated 6 September 2023).
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 its 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 way 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 that has
been implemented at all levels of the Company and aligns with
international standards. [END]
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