REG - Atlantic Lithium Ltd - Approval to Divert Transmission Lines at Ewoyaa

Atlantic LithiumAnnouncement

10/10/2023 07:00

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RNS Number : 4921P  Atlantic Lithium Limited  10 October 2023

10 October 2023

Approval Granted to Divert Transmission Lines at Ewoyaa

Atlantic Lithium receives authorisation to commence the diversion of the transmission lines crossing the Mankessim Licence, moving a step closer to shovel readiness at the Ewoyaa Lithium Project

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, "Atlantic Lithium"
or the "Company"), the African-focused lithium exploration and development
company targeting to deliver Ghana's first lithium mine, is pleased to advise
that Ghana's Environmental Protection Agency ("EPA") has granted authorisation
to divert two transmission lines that run across planned mining areas within
the Mankessim prospecting licence, which holds the Company's Ewoyaa Lithium
Project ("Ewoyaa" or the "Project").

The planned diversion of the transmission lines, which currently traverse the
proposed Project site, forms part of the Project's mine plan and represents an
important step as the Company advances Ewoyaa towards shovel readiness.

As outlined in the Ewoyaa Definitive Feasibility Study (refer announcement of
29 June 2023), the Company requested that the transmission lines be diverted
to the northern border of the licence to enable the Company to commence early
works at the Project, including early spodumene concentrate production through
a Modular Dense Media Separation ("DMS") processing unit.

EPA approval has been granted up to 24 March 2025, enabling Ghana Grid Company
Ltd ("GRIDCo"), which owns the National Interconnected Transmission System in
Ghana, to carry out the diversion of the lines on behalf of the Company.

Mining Lease Update

Atlantic Lithium is currently awaiting ministerial grant of the Mining Lease
in respect of the Mankessim licence, required to advance the Project towards
construction.

The Company had a meeting on Thursday, 5 October 2023 in Accra with Hon.
Samuel A. Jinapor, Ghana's Minister of Lands and Natural Resources, and
representatives of the Minerals Commission, the Minerals Income Investment
Fund and the Ghana Stock Exchange regarding the finalisation of the Mining
Lease for the Project. The Company is pleased with the progress of its
application and expects the Mining Lease to be granted shortly.

 

Commenting, Keith Muller, Chief Executive Officer of Atlantic Lithium, said:

"The diversion of the transmission lines that traverse the proposed Project
site forms an important part of the mine plan and the Company's preparations
towards shovel readiness at Ewoyaa. I would like to take the opportunity to
thank GRIDCo for undertaking this work on behalf of the Company and the
Environmental Protection Agency for its timely approval, ensuring we maintain
our strong momentum as we advance the Project towards construction.

"At Ewoyaa, we consider ourselves exceptionally fortunate to be able to
leverage Ghana's impressive existing infrastructure and the considerable
expertise from over a century of mining activity in the country. We believe
these elements play a major role in positioning the Project as one of the
leading hard rock spodumene assets globally.

"We look forward to updating the market on further progress in due course."

 

For any further information, please contact:
Atlantic Lithium Limited

Neil Herbert (Executive Chairman)

Amanda Harsas (Finance Director and Company Secretary)

   www.atlanticlithium.com.au
   IR@atlanticlithium.com.au
   Tel: +61 2 8072 0640

 

 SP Angel Corporate Finance LLP   Yellow Jersey PR Limited                                           Canaccord Genuity Limited

 Nominated Adviser                Charles Goodwin                                                    Company Broker

 Jeff Keating                     Bessie Elliot                                                      Raj Khatri / James Asensio

                                atlantic@yellowjerseypr.com (mailto:atlantic@yellowjerseypr.com)

 Charlie Bouverat
                                                                  Harry Rees

                                Tel: +44 (0)20 3004 9512

 Tel: +44 (0)20 3470 0470
                                                                  Tel: +44 (0) 20 7523 4500

 

NOTES TO EDITORS:

About Atlantic Lithium

www.atlanticlithium.com.au (http://www.atlanticlithium.com.au/)

Atlantic Lithium is an AIM and ASX-listed lithium company advancing a
portfolio of lithium projects in Ghana and Côte d'Ivoire through to
production.

The Company's flagship project, the Ewoyaa Project in Ghana, is a significant
lithium spodumene pegmatite discovery on track to become Ghana's first
lithium-producing mine. The Company signed a funding agreement with Piedmont
Lithium Inc. towards the development of the Ewoyaa Project. At the Ewoyaa
Project, Atlantic Lithium intends to be producing spodumene concentrate via a
simple gravity only process flowsheet.

Atlantic Lithium holds 560km(2) and 774km(2) of tenure across Ghana and Côte
d'Ivoire respectively, comprising significantly under-explored, highly
prospective licences.

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