REG - Andrada Mining Ltd - Initial Drill Results on ML133 (“Lithium Ridge”)

Andrada MiningAnnouncement

06/09/2023 07:00

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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% Li₂O.

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 Drill 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.

Anthony 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
60° (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 ID  Intersection        From/To (m)  Width (Metres)  Grades
          Li₂O (%)                         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 60°
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 60° 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 → 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
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.

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