REG - Andrada Mining Ltd - Lithium and tantalum infill drill programme update

Andrada MiningAnnouncement

31/01/2023 07:01

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RNS Number : 3191O  Andrada Mining Limited  31 January 2023

31 January 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
is now considered to be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Lithium and tantalum infill drill programme update

Andrada Mining Limited, formerly Afritin Mining Limited, (AIM: ATM) an African
technology metals mining company with a portfolio of mining and exploration
assets in Namibia, announces further results from the lithium and tantalum
infill drilling programme at the Company's flagship operation, the Uis Mine
("Uis"). The current exploration programme aims to upgrade the existing
Mineral Resource classification for lithium and tantalum over the areas where
tin is currently classified within the Measured and Indicated categories for
the 2019 Mineral Resource estimate (MRE), stated in accordance with JORC
(2012).

The 50-hole drilling programme, comprising 29 diamond and 21 reverse
circulation ("RC") drill holes commenced in 2022 with the aim of increasing
the confidence of the existing lithium and tantalum Mineral Resource estimates
in the V1/V2 pegmatite. The assay results for 30 holes (60%) have been
progressively released since 2022, this update announces results of an
additional five drill holes as illustrated on Figure 1. The results of the
remaining 15 drill holes will be announced as they become available.

Highlights:

 

§ Pegmatite was intersected in all holes at the depths and apparent widths
predicted by the geological model;

§ Significant pegmatite intersections include:

o  28 m at 0.147% Sn, 127 ppm Ta and 0.77% Li(2)O for the drill hole V1V2033,
from 15 m to 43 m;

o  21 m at 0.144% Sn, 107 ppm Ta and 1.03% Li(2)O for the drill hole V1V2030,
from 65 m to 86 m;

o  22 m at 0.150% Sn, 98 ppm Ta and 1.34% Li(2)O for drill hole V1V2041 from
85 m to 107 m; and

o  19 m at 0.188% Sn, 72 ppm Ta and 0.72% Li(2)O for drill hole V1V2041 from
111 m to 130 m.

§ Notable intersections of lithium mineralisation within the pegmatite
intersections include:

o  22 m at 1.34% Li(2)O for drill hole V1V2041 from 85 m to 107 m; and

o  21 m at 1.03% Li(2)O for drill hole V1V2030 from 65 m to 86 m.

Anthony Viljoen (CEO) commented:
"We are pleased to announce these exploration drill results which are once again in line with our high expectations for the V1/V2 pegmatite ore body. The drill holes reported in this announcement are distributed over the strike of the pegmatite and are proof of the consistency of lithium, tin, and tantalum mineralisation. We are particularly encouraged by the lithium grades intersected in drill holes V1V2041 and V1V2056, up to 1.34% lithium oxide, which further demonstrate the unrealised potential of the V1/V2 orebody. We look forward to updating the Mineral Resource Estimate in support of our by-product development projects for tantalum and lithium."
Overview of the results

The pegmatite intersections reported in this update align with the current
geological model, confirming its spatial accuracy. The drill holes intersected
the pegmatite at shallow depths where the V1 and V2 bodies have bifurcated
into individual units, as well as at greater depths where the units coalesce
into a single pegmatite. The dip angle of the pegmatites varies from 24
degrees to 48 degrees and the reported drill holes are orientated vertically
such that the reported intersections represent apparent thickness.

Table 1: Exploration results of Diamond Drilling holes V1V2066, V1V2027,
V1V2033, V1V2030, and V1V2041 indicating the full pegmatite intersection and
pegmatite grades. Intersections are indicative of apparent thickness and not
true thickness. Note that apparent thickness is greater than true thickness.

 Hole ID  Dip angle (degrees)  Pegmatite                      From / To including waste (m)  Interval (m)  Grade
          Sn (%)                          Ta (ppm)                                           Li₂O (%)
 V1V2066  Vertical             V1         Whole intersection  34.37-72.95                    38.58         0.133  89   0.51
          V1                              Whole intersection  79.00-91.79                    12.79         0.324  102  0.28
 V1V2027  Vertical             V2         Whole intersection  39.67-45.84                    6.17          0.147  127  0.48
 V1V2033  Vertical             V2         Whole intersection  15.05-43.73                    28.68         0.130  121  0.77
 V1V2030  Vertical             V2         Whole intersection  65.64-86.76                    21.12         0.144  107  1.03
 V1V2041  Vertical             V2         Whole intersection  55.54-59.51                    3.97          0.125  258  0.34
          V2                              Whole intersection  67.42-70.53                    3.11          0.077  123  0.68
          V2                              Whole intersection  85.05-107.40                   22.35         0.150  98   1.34
          V2                              Whole intersection  111.07-130.27                  19.20         0.188  72   0.72

Each drill hole was geologically and geotechnically logged before being
sampled. The sample analysis was undertaken by UIS Analytical Services, a
certified independent laboratory, using a peroxide fusion. ICP-OES analysis
was utilised for major and minor elements and ICP-MS utilised for the trace
elements.

Figure 1: Map displaying the localities of the reported holes, the drill holes
of the previous (2019) exploration programme and the holes from the current
programme previously reported. Line A-A' indicates the area represented by the
cross section (Fig.2).

Figure 2: Section line A-A' displaying a projection of the holes drilled
during the current programme for which the results are reported in this
release and previous communications for this programme.

Competent Person statement

The technical data in this announcement has been reviewed by Dr Brendan Clarke
of CSA Global, who provides geological consulting services to Andrada. Dr
Clarke is - Partner - EMEA for CSA Global and has 22 years of industry related
exploration and mineral project development 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 the assay campaign. Dr Clarke is satisfied that the
results of the QAQC on the assay results released to date are sufficient to
support the planned estimation of Mineral Resources

Glossary of abbreviations
 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
 JORC           The Australasian Code for Reporting of Exploration Results, Mineral Resources
                and Ore Reserves
 MRE            Mineral Resource Estimate
 PPM            Parts Per Million
 QA/QC          Quality Assurance / Quality Control
 RC             Reverse Circulation drilling
 Sn             Symbol for Tin
 Ta             Symbol for Tantalum
 V1/V2          Name of the targeted pegmatite unit, V1/V2 denotes where the V1 and V2
                pegmatites have merged at depth.

Glossary of technical terminology
 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
                     mineralisation.  This is usually generated in a three-dimensional computer
                     environment.
 Mineral resources   Mineral Resources are sub-divided, in order of increasing geological
                     confidence, into Inferred, Indicated and Measured categories. An Inferred
                     Mineral Resource has a lower level of confidence than that applied to an
                     Indicated Mineral Resource. An Indicated Mineral Resource has a higher level
                     of confidence than an Inferred Mineral Resource but has a lower level of
                     confidence than a Measured Mineral Resource.
 Pegmatite           An igneous rock typically of granitic composition, which is distinguished from
                     other igneous rocks by the extremely coarse and systematically variable 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, including monomineralic zones.
 Xenolith            A foreign rock fragment (e.g., schist) within an intrusive body (e.g.,
                     pegmatite) that is unrelated to the igneous body.

 

 

 Andrada Mining Limited                       +27 (11) 268 6555
 Anthony Viljoen, CEO

 Sakhile Ndlovu, Head of Investor Relations
 Nominated Adviser                            +44 (0) 207 220 1666
 WH Ireland Limited

 Katy Mitchell
 Corporate Advisor and Joint Broker           +44 (0) 20 7907 8500
 H&P Advisory Limited

 Andrew Chubb

 Jay Ashfield

 Nilesh Patel
 Stifel Nicolaus Europe Limited               +44 (0) 20 7710 7600
 Ashton Clanfield

 Callum Stewart

 Varun Talwar
 Tavistock Financial PR (United Kingdom)      +44 (0) 207 920 3150
 Emily Moss

 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.

 

Lithium laboratory test work completed during the 2022 calendar year indicated
a high-grade, ultra-low iron lithium petalite concentrate. The test work to
convert lithium petalite concentrate to battery-grade lithium hydroxide was
initiated with Nagrom, a leading Australian processing company, and commercial
engagements with lithium petalite concentrate off - takers are on-going.

 

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 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 management team with deep 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 how 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.

-END-

 

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