Lithium Ridge Drill Results
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")
Further High-Grade Lithium Results Confirmed in the Fourth Batch of Drill Results from Lithium Ridge
Mineralisation at 2% Li2O over 24 metres
Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), a tin producer with a portfolio of critical metals mining and exploration assets in Namibia is pleased to announce the fourth batch of results comprising 14 Diamond Drill ("DD") holes from the Lithium Ridge Project ("LR" or the "Project"). These results show significant high-grade lithium mineralisation along strike and continuity at depth, alongside consistent tin and tantalum enrichment. This highlights the scale and robust polymetallic economic potential of the Project as it is advanced in partnership with SQM International ("SQM").
HIGHLIGHTS
· High-grade lithium mineralisation confirmed across multiple drill holes, including:
- Drill hole LRD097: 35.59m @ 1.52% Li2O from 231.80m to 267.39m.
o Including 24.08m @ 2.00% Li2O from 233.04m to 257.12m.
- Drill hole LRD093: 30.24m @ 1.23% Li2O from 125.18m to 155.42m.
o Including 9.65m @ 1.83% Li2O from 138.02m to 147.67m.
- Drill hole LRD054: 10.93m @ 0.67% Li2O from 75.06m to 85.99m.
o Including 2.03m @ 1.93% Li2O from 80.50m to 82.53m.
- Drill hole LRD036: 6.67m @ 1.11% Li2O from 29.05m to 35.72m.
o Including 4.23m @ 1.62% Li2O from 29.77m to 34.00m.
· Valuable polymetallic co-products: Consistent associated tin and tantalum mineralisation confirmed across all holes, potentially enhancing project economics through potential polymetallic revenue streams
- Drill hole LRD041: 7.49m @ 0.44% Sn and 134ppm Ta.
Anthony Viljoen, Chief Executive Officer, commented:
"Once again, these exceptional drill results confirm the world-class potential of our Lithium Ridge asset, which we are developing in tandem with our partners SQM. Intersecting over 24 metres at 2.00% Li₂O in drill hole LRD097 is a milestone achievement that fundamentally enhances the scale and grade profile of the asset, showing continued potential at depth. The persistent presence of high-grade tin and tantalum co-products, such as the 0.44% tin intersection over 7.49 metres in hole LRD041 indicates an economic advantage that sets Andrada apart from single-commodity lithium developers. These polymetallic credits have the potential to significantly reduce overall operating costs, validating our aggressive exploration focus and ultimately reinforcing Namibia's position as a premier critical metal jurisdiction."
RESULTS OVERVIEW
The current DD campaign at Lithium Ridge (ML133) is designed to test the down-dip continuity and grade distribution of the outcropping pegmatite swarms identified during previous channel sampling and mapping programmes. This batch of results successfully demonstrates that the mineralised pegmatite bodies continue at depth with areas of significant lithium enrichment. The presence of robust tin and tantalum grades within the same pegmatites underscores the polymetallic endowment of the license area. This allows Andrada to leverage its existing processing expertise to maximize resource extraction and project economics.
The results are for an additional fourteen drill holes. The holes are reported as 'Whole Intersections' in Table 1, representing pegmatite intersections from the top to the bottom contact. Where these intersections contain schistose xenoliths, the reported grades reflect the metal content of the pegmatite only, excluding the schistose intervals. Intersections reported as "including" represent selected higher-grade zones within the total pegmatite intersection. Spodumene has been visually identified as the primary lithium-bearing mineral by the project geological team.
Reporting Methodology
The boreholes were drilled at inclined angles to the horizontal and, accordingly, the reported intersections are considered to represent apparent widths rather than true thicknesses. Pegmatite intersections that did not meet at least one of the following metal content cut-off criteria (>0.25% Li₂O, >0.1% Sn or >99ppm Ta) have not been reported as they are currently regarded as economically insignificant. Downhole orientation surveys were conducted at regular intervals for each hole as the drilling was advancing and were surveyed in totality once drilling was completed. The surveys were conducted using a magnetic deviation probe that collected readings at two metre intervals. Drill collar locations were surveyed using a handheld GPS.
Sampling and Analysis
Individual drill holes were geologically and structurally logged prior to being cut and sampled as quarter core. The sampling programme followed geological contacts while simultaneously maintaining consistency in data and sample representativity. Sample lengths ranged from 25 cm to 125 cm, where practicable. The samples were submitted to independent and certified laboratories, namely SA Labs Ithuba for pulverisation and homogenisation, and the pulps were subsequently dispatched to UIS Analytical Services for chemical analysis. Lithium and other related major elements were analysed using sodium peroxide fusion by ICP-OES, while tin, tantalum and other trace elements were analysed using lithium borate fusion by ICP-MS. No top cut was applied in calculating the weighted average grades for mineralised intersections within the pegmatites.
Table 1: Results of the intersected mineralised pegmatites with the intersection depths, lengths and grades reported. Intersections described as 'Including' refer to a portion of the whole pegmatite intersection with significant metal values. The reported intersections are indicative of apparent thickness, which is greater than true thickness.
Hole ID
Dip Angle (Degrees)
Intersection Type
From - To (metres)
Length (m)
Grade
Li₂O (%)
Sn (%)
Ta (ppm)
LRD030
-50
Whole Intersection
14.96 - 15.30
0.34
0.02
0.13
130
Whole Intersection
31.12 - 32.06
0.94
0.29
0.11
287
Whole Intersection
88.75 - 92.07
3.32
1.04
0.14
164
Whole Intersection
95.88 - 98.02
2.14
0.53
0.41
164
Whole Intersection
100.75 - 102.96
2.21
1.05
0.28
70
Whole Intersection
104.54 - 106.66
2.12
0.95
0.35
74
Whole Intersection
107.45 - 110.21
2.76
1.04
0.14
52
Whole Intersection
113.76 - 115.62
1.86
0.93
0.15
37
Whole Intersection
115.87 - 116.80
0.93
1.04
0.06
47
Whole Intersection
117.52 - 118.06
0.54
0.98
0.14
37
Whole Intersection
118.34 - 119.65
1.31
0.33
0.23
80
Whole Intersection
120.20 - 121.53
1.33
0.32
0.12
42
Whole Intersection
150.61 - 152.77
2.16
0.26
0.09
53
Whole Intersection
171.79 - 172.74
0.95
0.02
0.19
57
Whole Intersection
182.80 - 183.73
0.93
0.04
0.02
39
LRD034
-60
Whole Intersection
3.73 - 4.83
1.10
0.02
0.16
85
Whole Intersection
23.39 - 23.64
0.25
0.04
0.01
78
Whole Intersection
25.57 - 26.49
0.92
0.08
0.11
76
Whole Intersection
29.81 - 33.12
3.31
0.30
0.23
86
Whole Intersection
41.35 - 41.60
0.25
0.02
0.01
96
LRD035
-60
Whole Intersection
0.50 - 0.70
0.20
0.02
0.13
66
Whole Intersection
16.53 - 29.95
13.42
1.15
0.16
60
Including
17.98 - 27.00
9.02
1.38
0.15
54
Whole Intersection
57.82 - 71.83
14.01
0.65
0.14
62
Including
63.59 - 69.90
6.31
1.20
0.17
49
LRD036
-60
Whole Intersection
12.20 - 14.31
2.11
0.20
0.17
202
Whole Intersection
29.05 - 35.72
6.67
1.11
0.17
65
Including
29.77 - 34.00
4.23
1.62
0.20
61
Whole Intersection
65.59 - 65.89
0.30
0.04
0.14
147
LRD038
-50
Whole Intersection
59.47 - 59.91
0.44
0.03
0.34
108
LRD040
-45
Whole Intersection
16.49 - 16.75
0.26
0.13
0.12
180
Whole Intersection
22.73 - 23.65
0.92
0.25
0.98
249
Whole Intersection
54.90 - 55.25
0.35
0.03
0.02
147
Whole Intersection
92.75 - 93.43
0.68
0.25
0.11
196
Whole Intersection
149.90 - 150.20
0.30
0.06
0.30
109
Whole Intersection
156.89 - 157.22
0.33
0.05
0.19
53
Whole Intersection
158.96 - 160.90
1.94
0.23
0.21
98
Whole Intersection
181.27 - 181.99
0.72
0.03
0.29
103
LRD041
-90
Whole Intersection
26.21 - 33.70
7.49
0.39
0.44
134
Hole ID
Dip Angle (Degrees)
Intersection Type
From - To (metres)
Length (m)
Grade
Grade
Grade
Li₂O (%)
Sn (%)
Ta (ppm)
LRD044
-45
Whole Intersection
2.55 - 3.38
0.83
0.20
0.17
151
Whole Intersection
3.85 - 4.20
0.35
1.48
0.18
75
Whole Intersection
8.17 - 10.48
2.31
0.29
0.08
155
Whole Intersection
11.64 - 11.99
0.35
0.16
0.13
235
Whole Intersection
14.72 - 27.45
12.73
0.77
0.14
129
Including
15.63 - 19.54
3.91
1.40
0.14
144
Whole Intersection
28.22 - 28.74
0.52
0.27
0.08
96
Whole Intersection
43.73 - 44.37
0.64
0.12
0.17
103
Whole Intersection
45.26 - 46.31
1.05
0.24
0.11
73
Whole Intersection
74.64 - 75.42
0.78
0.11
0.10
65
Whole Intersection
90.19 - 91.04
0.85
0.07
0.11
63
Whole Intersection
105.69 - 106.28
0.59
0.06
0.32
110
Whole Intersection
136.69 - 141.17
4.48
0.20
0.17
84
Whole Intersection
155.58 - 157.24
1.66
0.46
0.13
83
Whole Intersection
157.95 - 162.33
4.38
1.20
0.16
79
Including
158.58 - 160.58
2.00
1.64
0.15
84
Whole Intersection
191.36 - 192.02
0.66
0.02
0.19
100
LRD046
-60
Whole Intersection
25.21 - 26.26
1.05
0.22
0.05
745
Whole Intersection
29.83 - 30.93
1.10
1.64
0.03
143
Whole Intersection
32.70 - 33.81
1.11
0.22
0.27
355
LRD054
-60
Whole Intersection
14.47 - 18.53
4.06
0.56
0.18
89
Whole Intersection
75.06 - 85.99
10.93
0.67
0.15
73
Including
80.50 - 82.53
2.03
1.93
0.10
77
LRD055
-60
Whole Intersection
2.65 - 2.93
0.28
0.27
0.12
610
LRD057
-50
Whole Intersection
15.58 - 20.10
4.52
1.20
0.17
65
LRD093
-45
Whole Intersection
125.18 - 155.42
30.24
1.23
0.13
64
Including
138.02 - 147.67
9.65
1.83
0.13
63
Whole Intersection
157.31 - 162.38
5.07
0.30
0.06
23
LRD097
-60
Whole Intersection
185.88 - 186.18
0.30
0.01
0.01
135
Whole Intersection
213.17 - 214.30
1.13
0.23
0.05
82
Whole Intersection
216.82 - 218.18
1.36
0.36
0.25
112
Whole Intersection
220.20 - 220.45
0.25
0.26
0.11
102
Whole Intersection
222.28 - 222.60
0.32
0.44
0.12
121
Whole Intersection
223.41 - 224.31
0.90
0.91
0.12
123
Whole Intersection
224.63 - 225.19
0.56
1.11
0.10
93
Whole Intersection
225.53 - 226.14
0.61
0.76
0.04
108
Whole Intersection
227.38 - 227.67
0.29
0.11
0.08
120
Whole Intersection
229.10 - 229.38
0.28
0.11
0.02
127
Whole Intersection
231.80 - 267.39
35.59
1.52
0.13
66
Including
233.04 - 257.12
24.08
2.00
0.15
73
Figure 1: Locations of the current and historically completed programmes. The diamond drill holes are from this campaign and the reverse circulation drill holes (green triangles) were completed during the 2023 campaign. The line A-A' represents the cross section in Figure 2 below.
Figure 2: Section line A-A' displaying a projection of the diamond drill holes, LRD093 and LRD097, for which results are reported in this announcement. The mineralised intersections from LRD093 and LRD097 are reported in Table 1.
CompetenT Person
The technical data in this announcement has been reviewed by Professor Laurence Robb ("Prof. Robb"), who is a non-executive director of Andrada. Prof. Robb has over 30 years industry related exploration and economic geology 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 (QA/QC) and results for this programme. As previously announced, the Company will continue to provide regular updates as significant results are received and milestones achieved.
Glossary of abbreviations
%
Symbol for percentage
DD
Diamond Drill
ICP-MS
Inductively Coupled Plasma-Mass Spectrometry
ICP-OES
Inductively Coupled Plasma-Optical Emission Spectrometry
Li
Symbol for lithium
Li → Li₂O
Metal to metal-oxide conversion factor of 2.153
Li₂O
Lithium oxide
PPM
Parts Per Million
QA/QC
Quality Assurance / Quality Control
Sn
Symbol for tin
Ta
Symbol for tantalum
Glossary of technical Terms
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 the shape of the mineralised unit. 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 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.
Xenolith
A foreign rock fragment (e.g., schist) within an intrusive body (e.g., pegmatite) that is unrelated to the igneous body.
CONTACTS
Andrada Mining Limited
Anthony Viljoen, CEO
Sakhile Ndlovu, Head of Investor Relations
+27 (11) 268 6555
NOMINATED ADVISOR & BROKER
Zeus Capital Limited
Katy Mitchell
Andrew de Andrade
Harry Ansell
+44 (0) 20 2382 9500
CORPORATE BROKER & ADVISOR
H&P Advisory Limited
Andrew Chubb
Matt Hasson
+44 (0) 20 7907 8500
VSA Capital
Andrew Monk
Brian Wong
+44 (0) 20 3005 5000
FINANCIAL PUBLIC RELATIONS
Tavistock
Emily Moss
Josephine Clerkin
+44 (0) 207 920 3150
andrada@tavistock.co.uk
About Andrada Mining Limited
Andrada Mining Limited, listed on the London Stock Exchange's AIM market, is a tin producer with a portfolio of critical metal mining and exploration assets in Namibia, a premier investment destination in Africa. The Company's strategy focuses on unlocking Namibia's abundant mineral resources through best-in-class strategic partnerships across its resource base. Andrada has evolved from a tin producer into a diversified critical minerals company with three distinct but complementary value centres, namely Uis, the producing foundation of the Company, Lithium Ridge, an increasingly significant lithium opportunity being advanced with SQM, and Brandberg West, a historically producing tin and tungsten asset with significant tungsten, tin and copper potential being developed in partnership with BWCAM. Across the portfolio, Andrada has exposure to tin, lithium, tungsten, copper and tantalum, metals that are becoming increasingly important to global energy security, advanced technology, artificial intelligence infrastructure, electrification and defence
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.ENDUPDBELLLQVLZBBF
