REG - Andrada Mining Ltd - Final Results for Initial ML133 Drill Programme
18/09/2023 07:00
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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 Drill 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.
Anthony 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 60° (60
degrees) from the horizontal, except for drill hole ATNN21 which was drilled
55° 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 ID Intersection From/To (m) Intersection (Metres) Grades
Li₂O (%) 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 60°
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 60° 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 → Li(2)O Metal to metal-oxide conversion factor of 2.153
Li(2)O Lithium oxide
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 +44 (0) 207 220 1666
Katy Mitchell
Corporate Adviser and Joint Broker
H&P Advisory Limited +44 (0) 20 7907 8500
Andrew Chubb
Jay Ashfield
Matt Hasson
Stifel Nicolaus Europe Limited +44 (0) 20 7710 7600
Ashton Clanfield
Calum Stewart
Varun Talwar
Tavistock Financial PR (United Kingdom) +44 (0) 207 920 3150
Jos Simson andrada@tavistock.co.uk
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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