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Atlantic Lithium advances plans for Ghana’s first lithium mine

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By Robin Bromby - 
Atlantic Lithium ASX A11 Ghana first lithium mine Piedmont ASX PLL
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Atlantic Lithium (ASX: A11) has advanced plans to develop Ghana’s first lithium mine with a slew of positive intersections from its latest infill and extensional drilling at the Ewoyaa project in the West African country.

Piedmont Lithium (ASX: PLL), which is developing both mining and downstream operations in the US, is earning a 50% stake in Atlantic’s Ghana project.

Drilling took place at the Ewoyaa South-2, Ewoyaa Northeast, Ewoyaa Main and Ewoyaa Northwest deposits.

Upgrading to indicated category

Atlantic reports the latest assays from its 6,150 metre reverse circulation program, part of a broader 18,500m drilling effort for 2023.

Results included 48m at 1.31% lithium oxide, 24m at 1.86%, 29m at 1.37%, 29m at 1.2% and 23m at 1.51%.

The drilling at Ewoyaa South-2 is aimed at converting the deposit from the inferred category to indicated.

The overall Ewoyaa project stands at 35.3 million tonnes at 125% lithium oxide.

Targeting pegmatite dykes

Atlantic Lithium executive chairman Neil Herbert said the drilling had extended mineralisation had been focused outside the current resource envelope and at Ewoyaa South-2 this mineralisation remains open along strike and at depth.

“These programs are intended to grow and improve the confidence in the Ewoyaa resource, in turn improving the economics of the project,” he added.

Drilling is aimed at intersecting pegmatite dykes perpendicular to strike and depth to approximate true width, the company notes.

“This is not always achieved due to the variable nature of pegmatites or challenging drill access,” it adds.

Under their joint venture agreement, Piedmont is providing financing in three stages.

There was an initial US$16 million investment.

Stage 2 this year involved US$18 million to cover regional exploration and the definitive feasibility study.

When it comes to development and construction, Piedmont will inject a further US$70 million.

In return, Piedmont is entitled to 50% of the offtake.

First production is expected in 2025.