REG - Andrada Mining Ltd - V1V2 final 2022 exploration drilling results

Andrada MiningAnnouncement

30/03/2023 17:30

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RNS Number : 8423U  Andrada Mining Limited  30 March 2023

30 March 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")

V1V2 tin, lithium, and tantalum 2022 infill drill programme final update

Andrada Mining Limited (AIM: ATM), an African technology metals mining company
with a portfolio of mining and exploration assets in Namibia, announces the
final results from the tin, lithium, and tantalum infill drilling programme at
the Company's flagship operation, the Uis Mine ("Uis"). The 2022 drill
programme was undertaken with an aim of upgrading the existing JORC compliant
lithium and tantalum 2019 Mineral Resource (see announcement dated 16
September 2019).

The 51-hole drilling programme, comprising 22 diamond ("DD") and 29 reverse
circulation ("RC") drill holes, commenced in 2022 over the V1/V2 pegmatite.
This update announces the results of the remaining two drill holes as
illustrated in Figure 1, to complete the requisite reporting on all holes for
this programme.

Highlights:

 

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

§ Significant pegmatite intersections include:

o  113 m at 0.167% Sn, 68 ppm Ta and 1.15% Li(2)O for the drill hole V1V2053,
from 113 m to 226 m:

§ 59 m at 1.62% Li(2)O from 163 m to 222 m

o  114 m at 0.164% Sn, 85 ppm Ta and 1.15% Li(2)O for the drill hole V1V2063,
from 151 m to 265 m:

§ 48 m at 1.51% Li(2)O from 216 m to 264 m

Anthony Viljoen (CEO) commented:
"We are pleased to announce the final set of drill results for the remaining two holes of the 2022 drill programme. These drilling results indicate higher lithium grades and widths of the V1/V2 pegmatite at depth.  The overall metal content within these intersections highlights the potential of the Uis pegmatites and supports ongoing exploration initiatives.
The selected lithium intersections within the pegmatite provide valuable guidance on what we can expect as mining progresses and provides an indication of the full potential of the V1/V2 pegmatite. The commissioning of the lithium pilot plant this year will inform the optimisation of the lithium process flow diagram, for the addition of a full-scale lithium production stream within the main processing plant."
Overview of the results

The pegmatite intersections reported in this update align with the existing
geological model and continue to confirm its spatial accuracy and
interpretation. The drill holes intersected the pegmatite where the separate
V1 and V2 pegmatites have combined into a single larger unit, with some minor
offshoots into the hanging wall. 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 drill holes V1V2053 and V1V2063
indicating the full pegmatite intersection and grades. The drill holes were
oriented vertically, and intersections are indicative of apparent thickness
and not true thickness. Note that apparent thickness is greater than true
thickness.

 Hole ID  Pegmatite                                                                                 From / To including waste (m)  Interval (m)  Grade
          Sn (%)                                                                                    Ta (ppm)                                     Li₂O (%)
 V1V2053  Off-shoot  Hanging wall pegmatite                                                         98.99-102.27                   3.28          0.118       329   0.10
          Off-shoot  Hanging wall pegmatite                                                         106.88-111.26                  4.38          0.126       244   0.69
          V1/V2      Whole intersection                                                             113.42-226.19                  112.77        0.167       68    1.15
          Including  163-222                                                                        59                             0.157         63          1.62
 V1V2063  Off-shoot  Hanging wall pegmatite                                                         141.11 - 146.00                4.89          0.152       295   0.28
          V1/V2      Whole intersection (includes 1.58 m of internal waste from 155.43 m -156.62 m  151.25 - 265.39                114.14        0.164       85    1.15
                     and 156.92 m - 157.31m)
          Including  216 - 264                                                                      48                             0.184         69          1.51

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 Michael Cronwright (M.Sc., FGSSA, Pr. Sci Nat. (Geological Sciences)). He is a full-time employee of CSA Global and provides geological consulting services to Andrada. Mr Cronwright is the Principal Consultant - Battery Metals co-ordinator for CSA Global and has 23 years of industry related exploration as well as mineral project development experience and is a Competent Person for the reporting of these 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. Mr Cronwright consents to the release of the information contained in the announcement and 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
 DD             Diamond Drilling
 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
 H&P Advisory Limited                         +44 (0) 20 7907 8500

 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

Notes to editors.

Andrada 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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