Final Assay Results and New High-Grade pegmatites

RNS Number : 5133M
Atlantic Lithium Limited
12 January 2023
 

12 January 2023

 

Final Resource Drilling Results Received

New Mineralised Pegmatites Confirmed

Ewoyaa Lithium Project Ghana, West Africa

 

Atlantic Lithium Limited (AIM: ALL, OTC: ALLIF, ASX: A11 "Atlantic Lithium" or the "Company"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, is pleased to announce final assay results from the resource and exploration drilling programme completed at the Ewoyaa Lithium Project ("Ewoyaa" or the "Project") in Ghana, West Africa .

HIGHLIGHTS:

Ø Final assay results received for a further 10,052m of exploration and infill diamond core ("DD") drilling and reverse circulation ("RC") drilling completed at the Ewoyaa Project, part of the now completed resource evaluation and exploration RC and DD programme.

Ø Newly reported assay results confirm new mineralised pegmatites at the Grasscutter North, Kaampakrom North and Assan targets, outside the currently defined 30.1Mt @ 1.26% Li2O Ewoyaa JORC (2012) Compliant Mineral Resource Estimate ("MRE" or the "Resource").

Ø Multiple high-grade drill intersections reported at the Kaampakrom North, Grasscutter North, Anokyi and Grasscutter West targets, including highlights of:

GRC0825: 36m at 1.23% Li2O from 42m

GDD0102A: 22.2m at 1.62% Li2O from 73.3m

GRC0837: 20m at 1.6% Li2O from 44m

GDD0103: 15.1m at 1.24% Li2O from 55.4m

GRC0842: 12m at 1.55% Li2O from 93m

GRC0839: 13m at 1.35% Li2O from 99m

GRC0850: 12m at 1.24% Li2O from 96m

GRC0341: 12m at 1.03% Li2O from 134m

GRC0844: 7m at 1.69% Li2O from 162m

GRC0872: 8m at 1.48% Li2O from 34m

Ø All assay results now reported for the total approximate 47,000m drilling programme completed.

Ø Resource upgrade targeted for Q1 2023; to inform Definitive Feasibility Study ("DFS") targeted for completion mid-2023 .

Ø Recently announced processing plant FEED engineering contract (refer RNS of 13 December 2022) awarded to Primero to optimise the Project's flow sheet, identify long lead items, maximise the Project's long-term profitability, reduce execution risk and ultimately support the advancement of the Project towards becoming a financially and operationally robust lithium-producing mine.

Ø Recently announced Pre-Feasibility Study (refer RNS of 22 September 2022) delivers exceptional financial outcomes for a 2Mtpa operation, producing an average c. 255,000tpa of 6% Li2O spodumene concentrate ("SC6") over a 12.5-year operation:

LOM revenues exceeding US$4.84bn, Post-tax NPV8 of US$1.33bn, IRR of 224% over 12.5 years

US$125m capital cost with industry-leading payback period of <5 months

C1 cash operating costs of US$278 per tonne of 6% lithium spodumene concentrate Free on Board ("FOB") Ghana Port, after by-product credits

Average Life of Mine ("LOM") EBITDA of US$248m per annum

18.9Mt at 1.24% Li2O Maiden Ore Reserve

Average annualised US$1,359/dry metric tonne SC6 pricing used

 

Commenting on the Company's latest progress, Lennard Kolff, Interim Chief Executive Officer of Atlantic Lithium, said:

"Drilling continues to deliver high-grade drill intersections outside the current MRE.

"This last batch of results has delivered multiple near-surface drill intersections in new pegmatites defined outside of the resource footprint at the Kaampakrom North and Grasscutter North targets including highlights of 36m at 1.23% Li2O from 42m and 20m at 1.62% Li2O from 44m.

"Drilling has also returned high-grade, near-surface results at the Assan target approximately 3km north-east of the northern-most current pit design including highlights of 6m at 1.49% Li2O from 66m and 6m at 1.44% Li2O from 45m, demonstrating further potential within the mineralised pegmatite swarm.

"We have now reported all assay results for the approximate 47,000m drilling programme, with a Resource upgrade targeted for Q1 2023 and a DFS targeted for completion mid-2023.

" W ith the Pre-Feasibility Study delivered, the Mining Licence application submitted, the FEED engineering contract awarded and the funding agreement with our partner Piedmont Lithium in place, we feel the Company is ideally positioned to benefit from the ongoing lithium demand expected over the coming years."

 

New Drilling Results:

All remaining assay results have been received for an additional 10,052m of RC and DD drilling from the completed drill programme at the Ewoyaa Project. Multiple high-grade drill intersections are reported for exploration drilling results outside of the currently defined Resource at the Kaampakrom North, Grasscutter North and Assan targets as well as infill and metallurgical holes within the current MRE (refer Table 1, Appendix 1 and Appendix 2).

Table 1: Drill intersection highlights at greater than 8 Li x m, reported at a 0.4% Li2O cut-off and maximum of 4m of internal dilution.

Hole ID

Target

Deposit

From m

To m

Interval m

Hole depth m

assay Li2O %

Intersection

metal content

Li x m

GRC0825

Exploration drilling

Kaampakrom N

42

78

36.0

120

1.23

GRC0825: 36m at 1.23% Li2O from 42m

44.28

GDD0102A

Metallurgical Drilling

Kaampakrom W

73.3

95.5

22.2

150.3

1.62

GDD0102A: 22.2m at 1.62% Li2O from 73.3m

35.96

GRC0837

Exploration Drilling

Grasscutter N

44

64

20.0

90

1.59

GRC0837: 20m at 1.6% Li2O from 44m

31.86

GDD0103

Metallurgical Drilling

Grasscutter W

55.4

70.5

15.1

120.4

1.24

GDD0103: 15.1m at 1.24% Li2O from 55.4m

18.72

GRC0842

Exploration Drilling

Grasscutter N

93

105

12.0

125

1.55

GRC0842: 12m at 1.55% Li2O from 93m

18.59

GRC0839

Exploration Drilling

Grasscutter N

99

112

13.0

140

1.34

GRC0839: 13m at 1.35% Li2O from 99m

17.46

GRC0850

Exploration Drilling

Grasscutter N

96

108

12.0

199

1.24

GRC0850: 12m at 1.24% Li2O from 96m

14.83

GRC0341

IND re-entry

Anokyi

134

146

12

170

1.03

GRC0341: 12m at 1.03% Li2O from 134m

12.35

GRC0844

Exploration Drilling

Grasscutter N

162

169

7.0

220

1.68

GRC0844: 7m at 1.69% Li2O from 162m

11.79

GRC0872

EXPL

Kaampakrom

34

42

8.00

70.00

1.47

GRC0872: 8m at 1.48% Li2O from 34m

11.77

GRC0843

Exploration Drilling

Grasscutter N

132

146

14.0

162

0.77

GRC0843: 14m at 0.77% Li2O from 132m

10.73

GRC0848

Exploration Drilling

Grasscutter N

137

146

9.0

166

1.03

GRC0848: 9m at 1.03% Li2O from 137m

9.26

GRC0856

Exploration Drilling

Assan

66

72

6.0

88

1.48

GRC0856: 6m at 1.49% Li2O from 66m

8.90

GRC0465

IND re-entry

Anokyi

129

137

8.00

168.00

1.09

GRC0465: 8m at 1.1% Li2O from 129m

8.75

GRC0853

Exploration Drilling

Assan

45

51

6.0

100

1.44

GRC0853: 6m at 1.44% Li2O from 45m

8.64

GRC0854

Exploration Drilling

Assan

73

79

6.0

114

1.34

GRC0854: 6m at 1.34% Li2O from 73m

8.01

Exploration drilling results fall outside the current 30.1Mt at 1.26% Li2O Resource on newly defined pegmatites at the Kaampakrom North, Grasscutter North and Assan targets and demonstrates further resource scale potential at the Ewoyaa Project (refer Figure 1, Figure 2 and Figure 3).

Exploration drilling results confirm near-surface mineralisation on newly defined pegmatites within trucking distance of the currently defined mine design. Furthermore, new drilling results demonstrate a further 3km strike extension of prospective lithium pegmatite vein swarms towards the north-east of the current project footprint (refer Figure 1). 

Sample preparation was completed by Intertek Ghana and assay by Intertek Perth with all reported results passing QA/QC protocols, providing confidence in reported results.

Figure 1: Location of reported assay results with highlight drill intersections.

 

Figure 2: Cross-section A-A' showing assay results received for GRC0825 and GRC0823 at the Kaampakrom North target.

Figure 3: Cross-section B-B' assay results received for GRC0837 and GRC0839 at the Grasscutter North target.

 

 

Competent Persons

Information in this report relating to the exploration results is based on data reviewed by Mr Lennard Kolff (MEcon. Geol., BSc. Hons ARSM), Chief Geologist of the Company. Mr Kolff is a Member of the Australian Institute of Geoscientists who has in excess of 20 years' experience in mineral exploration and is a Qualified Person under the AIM Rules. Mr Kolff consents to the inclusion of the information in the form and context in which it appears.

 

Information in this report relating to Mineral Resources was compiled by Shaun Searle, a Member of the Australian Institute of Geoscientists.  Mr Searle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Searle is a director of Ashmore. Ashmore and the Competent Person are independent of the Company and other than being paid fees for services in compiling this report, neither has any financial interest (direct or contingent) in the Company. Mr Searle consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

 

The reported Ore Reserves have been compiled by Mr Harry Warries.  Mr Warries is a Fellow of the Australasian Institute of Mining and Metallurgy and an employee of Mining Focus Consultants Pty Ltd.  He has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the 'Australasian Code for Reporting of Mineral Resources and Ore Reserves' of December 2012 ("JORC Code") as prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia.  Mr Warries gives Atlantic Lithium Limited consent to use this reserve estimate in reports.

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

 

For any further information, please contact:

 

Atlantic Lithium Limited

Lennard Kolff (Interim CEO)

Amanda Harsas (Finance Director and Company Secretary)

www.atlanticlithium.com.au

Tel:  +61 2 8072 0640

 

 

atlantic@yellowjerseypr.com

 


SP Angel Corporate Finance LLP

Nominated Adviser

Jeff Keating

Charlie Bouverat

Tel: +44 (0)20 3470 0470

 

Canaccord Genuity Limited

Joint Company Broker

Raj Khatri

James Asensio

Harry Rees

 

Tel: +44 (0) 20 7523 4500

 

 

Liberum Capital Limited

Joint Company Broker

Scott Mathieson

Edward Thomas

Kane Collings

 

Tel: +44 (0) 20 3100 2000 

 

 


Yellow Jersey PR Limited

Henry Wilkinson

Charles Goodwin

Bessie Elliot

Tel: +44 (0)20 3004 9512

Notes to Editors:

 

About Atlantic Lithium

www.atlanticlithium.com.au

 

Atlantic Lithium (formerly "IronRidge Resources") 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. for US$103m towards the development of the Ewoyaa Project. Based on the Pre-Feasibility Study, the Ewoyaa Project has indicated Life of Mine revenues exceeding US$4.84bn, producing a spodumene concentrate via simple gravity only process flowsheet.

 

Atlantic Lithium holds 560km2 & 774km2 of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licenses.

Appendix 1 - New drill intersections reported in hole ID order, reported at a 0.4% Li2O cut-off and maximum 4m of internal dilution.

Hole ID

Target

Deposit

From m

To m

Interval m

Hole depth m

Assay Li2O%

Intersection

Comment

metal content Li x m

GRC0825

EXPL

Kaampakrom

42

78

36.0

120.0

1.23

GRC0825: 36m at 1.23% Li2O from 42m


44.28

GDD0102A

MET

Kaampakrom W

73.3

95.5

22.2

150.3

1.62

GDD0102A: 22.2m at 1.62% Li2O from 73.3m


35.96

GRC0837

EXPL

Grasscutter N

44

64

20.0

90.0

1.59

GRC0837: 20m at 1.6% Li2O from 44m


31.86

GDD0103

MET

Grasscutter W

55.4

70.5

15.1

120.4

1.24

GDD0103: 15.1m at 1.24% Li2O from 55.4m


18.72

GRC0842

EXPL

Grasscutter N

93

105

12.0

125.0

1.55

GRC0842: 12m at 1.55% Li2O from 93m


18.59

GRC0839

EXPL

Grasscutter N

99

112

13.0

140.0

1.34

GRC0839: 13m at 1.35% Li2O from 99m


17.46

GRC0850

EXPL

Grasscutter N

96

108

12.0

199.0

1.24

GRC0850: 12m at 1.24% Li2O from 96m


14.83

GRC0341

IND re-entry

Anokyi

134

146

12

170.00

1.03

GRC0341: 12m at 1.03% Li2O from 134m


12.35

GRC0844

EXPL

Grasscutter N

162

169

7.0

220.0

1.68

GRC0844: 7m at 1.69% Li2O from 162m


11.79

GRC0872

EXPL

Kaampakrom

34

42

8.00

70.00

1.47

GRC0872: 8m at 1.48% Li2O from 34m


11.77

GRC0843

EXPL

Grasscutter N

132

146

14.0

162.0

0.77

GRC0843: 14m at 0.77% Li2O from 132m


10.73

GRC0848

EXPL

Grasscutter N

137

146

9.0

166.0

1.03

GRC0848: 9m at 1.03% Li2O from 137m


9.26

GRC0856

EXPL

Assan

66

72

6.0

88.0

1.48

GRC0856: 6m at 1.49% Li2O from 66m


8.90

GRC0465

IND re-entry

Anokyi

129

137

8.00

168.00

1.09

GRC0465: 8m at 1.1% Li2O from 129m


8.75

GRC0853

EXPL

Assan

45

51

6.0

100.0

1.44

GRC0853: 6m at 1.44% Li2O from 45m


8.64

GRC0854

EXPL

Assan

73

79

6.0

114.0

1.34

GRC0854: 6m at 1.34% Li2O from 73m


8.01

GDD0100

MET

Ewoyaa

85.4

97.3

11.9

140.2

0.66

GDD0100: 11.9m at 0.66% Li2O from 85.4m


7.85

GRC0828

EXPL

Grasscutter N

44

52

8.0

90.0

0.95

GRC0828: 8m at 0.95% Li2O from 44m


7.60

GRC0843

EXPL

Grasscutter N

67

73

6.0

162.0

1.24

GRC0843: 6m at 1.24% Li2O from 67m


7.41

GRC0855

EXPL

Assan

29

34

5.0

50.0

1.41

GRC0855: 5m at 1.42% Li2O from 29m


7.06

GRC0867

IND

Ewoyaa

38

43

5.00

80.00

1.39

GRC0867: 5m at 1.39% Li2O from 38m

weathered pegmatite

6.94

GRC0869

IND

Ewoyaa

69

73

4.00

89.00

1.70

GRC0869: 4m at 1.7% Li2O from 69m


6.79

GRC0570

IND re-entry

Anokyi

224

228

4.00

250.00

1.65

GRC0570: 4m at 1.65% Li2O from 224m


6.58

GDD0100

MET

Ewoyaa

26.3

33

6.7

140.2

0.94

GDD0100: 6.7m at 0.94% Li2O from 26.3m


6.30

GRC0830

EXPL

Grasscutter N

86

92

6.0

128.0

1.04

GRC0830: 6m at 1.04% Li2O from 86m


6.23

GRC0817

IND

Kaampakrom

57

63

6.0

110.0

1.00

GRC0817: 6m at 1.01% Li2O from 57m


6.01

GRC0824

IND

Kaampakrom

62

67

5.0

110.0

1.17

GRC0824: 5m at 1.17% Li2O from 62m


5.85

GRC0866

IND

Ewoyaa

62

66

4.00

82.00

1.40

GRC0866: 4m at 1.4% Li2O from 62m


5.59

GRC0840

IND

Ewoyaa

60

63

3.0

90.0

1.73

GRC0840: 3m at 1.73% Li2O from 60m


5.18

GDD0100

MET

Ewoyaa

36.8

44

7.2

140.2

0.62

GDD0100: 7.2m at 0.62% Li2O from 36.8m


4.46

GRC0882

EXPL

Kaampakrom

98

102

4.00

125.00

1.04

GRC0882: 4m at 1.04% Li2O from 98m


4.16

GRC0874

EXPL

Kaampakrom

82

86

4.00

102.00

1.00

GRC0874: 4m at 1% Li2O from 82m


3.99

GRC0875

EXPL

Kaampakrom

54

57

3.00

74.00

1.28

GRC0875: 3m at 1.29% Li2O from 54m


3.85

GRC0870

IND

Ewoyaa

75

78

3.00

200.00

1.26

GRC0870: 3m at 1.26% Li2O from 75m


3.77

GRC0863

IND

Ewoyaa

74

76

2.00

110.00

1.62

GRC0863: 2m at 1.62% Li2O from 74m


3.23

GRC0822

IND

Kaampakrom

28

34

6.0

120.0

0.48

GRC0822: 6m at 0.48% Li2O from 28m


2.88

GRC0852

IND

Ewoyaa

253

258

5.0

310.0

0.53

GRC0852: 5m at 0.54% Li2O from 253m


2.67

GRC0823

IND

Kaampakrom

79

83

4.0

107.0

0.66

GRC0823: 4m at 0.67% Li2O from 79m


2.65

GRC0862

IND

Ewoyaa

40

42

2.00

80.00

0.89

GRC0862: 2m at 0.89% Li2O from 40m

weathered pegmatite

1.77

GRC0852

IND

Ewoyaa

282

284

2.0

310.0

0.78

GRC0852: 2m at 0.78% Li2O from 282m


1.55

GDD0103

MET

Ewoyaa

74.2

75.5

1.3

120.4

1.02

GDD0103: 1.3m at 1.03% Li2O from 74.2m


1.33

GRC0850

IND

Ewoyaa

192

194

2.0

199.0

0.63

GRC0850: 2m at 0.63% Li2O from 192m


1.26

GRC0880

EXPL

Kaampakrom

69

71

2.00

100.00

0.54

GRC0880: 2m at 0.54% Li2O from 69m


1.08

GRC0882

EXPL

Kaampakrom

104

106

2.00

125.00

0.51

GRC0882: 2m at 0.51% Li2O from 104m


1.02

GRC0852

IND

Ewoyaa

272

273

1.0

310.0

0.95

GRC0852: 1m at 0.95% Li2O from 272m


0.95

GRC0843

EXPL

Grasscutter N

113

114

1.0

162.0

0.61

GRC0843: 1m at 0.61% Li2O from 113m


0.61

GRC0848

EXPL

Grasscutter N

45

46

1.0

166.0

0.59

GRC0848: 1m at 0.59% Li2O from 45m


0.59

GDD0103

MET

Ewoyaa

96.4

97.7

1.3

120.4

0.43

GDD0103: 1.3m at 0.44% Li2O from 96.4m


0.56

GRC0838

Piezo

Ewoyaa

73

74

1.0

140.0

0.55

GRC0839: 1m at 0.55% Li2O from 73m


0.55

GRC0882

EXPL

Kaampakrom

108

109

1.00

125.00

0.55

GRC0882: 1m at 0.55% Li2O from 108m


0.55

GDD0099

GeoTech

Ewoyaa

74

75

1.0

160.1

0.41

GDD0099: 1m at 0.41% Li2O from 74m


0.41

GDD0100

MET

Ewoyaa

72.6

73

0.4

140.2

1.20

GDD0100: 0.41m at 1.2% Li2O from 72.6m



GDD0101

GeoTech

Ewoyaa

0

160

160.0

160.1


no significant intersections



GRC0811

Piezo

Kaampakrom

0

100

100.0

100.0


no significant intersections



GRC0812

Piezo

Kaampakrom

0

100

100.0

100.0


no significant intersections



GRC0813

Piezo

Kaampakrom

0

100

100.0

100.0


no significant intersections



GRC0814A

Piezo

Anfeo

0

100

100.0

100.0


no significant intersections



GRC0815

Piezo

Anfeo

0

100

100.0

110.0


no significant intersections



GRC0816

IND

Kaampakrom

27

35

8.0

80.0


no significant intersections

weathered pegmatite


GRC0818

Piezo

Kaampakrom

0

100

100.0

100.0


no significant intersections



GRC0819

IND

Kaampakrom

0

80.00

80.0

80.0


no significant intersections



GRC0820

Piezo

Kaampakrom

0

100.00

100.0

100.0


no significant intersections



GRC0821

IND

Kaampakrom

0

90.00

90.0

90.0


no significant intersections



GRC0826

IND

Kaampakrom

0

120

120.0

120.0


no significant intersections



GRC0827

IND

Kaampakrom

12

14

2.0

86.0


no significant intersections

weathered pegmatite


GRC0827

IND

Kaampakrom

18

21

3.0

86.0


no significant intersections

weathered pegmatite


GRC0827

IND

Kaampakrom

39

40

1.0

86.0


no significant intersections

weathered pegmatite


GRC0827

IND

Kaampakrom

58

60

2.0

86.0


no significant intersections



GRC0827

IND

Kaampakrom

69

70

1.0

86.0


no significant intersections



GRC0829

IND

Kaampakrom

30

32

2.0

140.0


no significant intersections



GRC0829

IND

Kaampakrom

95

96

1.0

140.0


no significant intersections



GRC0831

IND

Kaampakrom

0

100

100.0

100.0


no significant intersections



GRC0832

EXPL

Grasscutter N

12

16

4.0

90.0


no significant intersections

weathered pegmatite


GRC0833

EXPL

Grasscutter N

50

53

3.0

170.0


no significant intersections



GRC0833

EXPL

Grasscutter N

55

58

3.0

170.0


no significant intersections



GRC0833

EXPL

Grasscutter N

115

119

4.0

170.0


no significant intersections



GRC0833

EXPL

Grasscutter N

146

150

4.0

170.0


no significant intersections



GRC0834

IND

Kaampakrom

0

100.00

100.0

100.0


no significant intersections



GRC0835

EXPL

Kaampakrom

0

63.00

63.0

63.0


no significant intersections



GRC0836

EXPL

Kaampakrom

0

60.00

60.0

60.0


no significant intersections



GRC0838

Piezo

Ewoyaa

0

4

4.0

114.0


no significant intersections

weathered pegmatite


GRC0838

Piezo

Ewoyaa

8

10

2.0

114.0


no significant intersections

weathered pegmatite


GRC0838

Piezo

Ewoyaa

20

21

1.0

114.0


no significant intersections

weathered pegmatite


GRC0838

Piezo

Ewoyaa

30

58

28.0

114.0


no significant intersections



GRC0838

Piezo

Ewoyaa

82

84

2.0

114.0


no significant intersections



GRC0841

Piezo

Abonko

0

100

100.0

100.0


no significant intersections



GRC0845

EXPL

Krofu

0

110

110.0

110.0


no significant intersections



GRC0846

EXPL

Grasscutter N

0

100

100.0

100.0


no significant intersections



GRC0847

EXPL

Krofu

0

250

250.0

250.0


no significant intersections



GRC0849

EXPL

Grasscutter N

0

130

130.0

130.0


no significant intersections



GRC0851

EXPL

Krofu

0

180

180.0

180.0


no significant intersections



GRC0857

IND

Ewoyaa

69

71

2.00

104.00


no significant intersections



GRC0857

IND

Ewoyaa

74

75

1.00

104.00


no significant intersections



GRC0857

IND

Ewoyaa

77

79

2.00

104.00


no significant intersections



GRC0857

IND

Ewoyaa

87

88

1.00

104.00


no significant intersections



GRC0858

EXPL

Kaampakrom

15

16

1.00

140.00


no significant intersections

weathered pegmatite


GRC0858

EXPL

Kaampakrom

30

33

3.00

140.00


no significant intersections

weathered pegmatite


GRC0859

IND

Ewoyaa

0

110

110.00

110.00


no significant intersections

No pegmatite intersected


GRC0860

IND

Ewoyaa

53

54

1.00

80.00


no significant intersections

weathered pegmatite


GRC0860

IND

Ewoyaa

71

72

1.00

80.00


no significant intersections



GRC0861

EXPL

Krofu

28

31

3.00

200.00


no significant intersections

weathered pegmatite


GRC0864

IND

Ewoyaa

29

34

5.00

80.00


no significant intersections

weathered pegmatite


GRC0865

EXPL

Krofu

0

100

100.00

100.00


no significant intersections

No pegmatite intersected


GRC0868

IND

Ewoyaa

169

174

5.00

189.00


no significant intersections



GRC0871

IND

Ewoyaa

0

120

120.00

120.00


no significant intersections

No pegmatite intersected


GRC0873

IND

Ewoyaa

0

110

110.00

110.00


no significant intersections

No pegmatite intersected


GRC0876

EXPL

Kaampakrom

34

42

8.00

62.00


no significant intersections

weathered pegmatite


GRC0877

EXPL

Kaampakrom

72

75

3.00

90.00


no significant intersections



GRC0878

EXPL

Kaampakrom

105

106

1.00

140.00


no significant intersections



GRC0879

EXPL

Kaampakrom

29

33

4.00

90.00


no significant intersections



GRC0879

EXPL

Kaampakrom

40

42

2.00

90.00


no significant intersections



GRC0881

EXPL

Kaampakrom

46

49

3.00

70.00


no significant intersections



GRC0881

EXPL

Kaampakrom

51

54

3.00

70.00


no significant intersections



GRC0883

EXPL

Kaampakrom

2

3

1.00

74.00


no significant intersections

weathered pegmatite


GRC0883

EXPL

Kaampakrom

6

9

3.00

74.00


no significant intersections

weathered pegmatite


GRC0883

EXPL

Kaampakrom

17

19

2.00

74.00


no significant intersections

weathered pegmatite


GRC0883

EXPL

Kaampakrom

38

39

1.00

74.00


no significant intersections

weathered pegmatite


GRC0883

EXPL

Kaampakrom

41

44

3.00

74.00


no significant intersections

weathered pegmatite


GRC0884

EXPL

Kaampakrom

77

80

3.00

95.00


no significant intersections



GRC0885

EXPL

Kaampakrom

0

3

3.00

90.00


no significant intersections

weathered pegmatite


GRC0886A

EXPL

Kaampakrom

56

57

1.00

80.00


no significant intersections

weathered pegmatite


GRC0886A

EXPL

Kaampakrom

60

63

3.00

80.00


no significant intersections

weathered pegmatite


GRC0887

EXPL

Kaampakrom

83

87

4.00

102.00


no significant intersections



GRC0888

EXPL

Kaampakrom

0

80

80.00

80.00


no significant intersections

No pegmatite intersected


 

 

Appendix 2 - Newly reported drill collar locations (MET = Metallurgy, IND = Indicated, EXPL = Exploration, Piezo = Piezometer)

Hole_ID

Target

Deposit

Hole Depth m

Eastings

Northings

Elevation m

Dip

Azimuth

GDD0099

Geotech

Ewoyaa

160.1

715441

579109

24

-50

305

GDD0100

MET

Ewoyaa

141.01

715578

580221

31

-50

270

GDD0101

Geotech

Ewoyaa

161.01

715711

579049

29

-50

305

GDD0102A

MET

Kaampakrom W

151.01

715094

581188

64

-50

150

GDD0103

MET

Ewoyaa

121.01

715993

580099

38

-51

210

GRC0341

IND re-entry

Anokyi

170

716480

578713

53

-50

180

GRC0465

IND re-entry

Anokyi

168

716400

578717

31

-51

181.79

GRC0470

IND re-entry

Anokyi

150

716320

578787

24

-51

179.97

GRC0811

Piezo

Kaampakrom

100

716542

581717

12

-89

0

GRC0812

Piezo

Kaampakrom

100

716190

580380

21

-87

0

GRC0813

Piezo

Kaampakrom

100

714969

579649

21

-89

0

GRC0814A

Piezo

Anfeo

100

714053

577694

20

-89

0

GRC0815

Piezo

Anfeo

110

713748

578257

27

-90

0

GRC0816

EXPL

Kaampakrom

80

715447

581460

28

-51

330

GRC0817

EXPL

Kaampakrom

110

715467

581430

29

-52

330

GRC0818

Piezo

Kaampakrom

100

715873

581021

18

-87

0

GRC0819

EXPL

Kaampakrom

80

715316

581442

48

-52

330

GRC0820

Piezo

Kaampakrom

100

717958

581308

7

-88

0

GRC0821

EXPL

Kaampakrom

90

715754

581635

42

-51

90

GRC0822

EXPL

Kaampakrom

120

715629

581541

31

-51

330

GRC0823

EXPL

Kaampakrom

107

715750

581593

51

-50

90

GRC0824

EXPL

Kaampakrom

110

715648

581507

37

-51

330

GRC0825

EXPL

Kaampakrom

120

715713

581593

52

-51

90

GRC0826

EXPL

Kaampakrom

120

715596

581684

23

-51

330

GRC0827

EXPL

Kaampakrom

86

715852

581557

33

-51

90

GRC0828

IND

Grasscutter N

90

716336

580453

29

-48

210

GRC0829

EXPL

Kaampakrom

140

715814

581552

30

-50

90

GRC0830

IND

Grasscutter N

128

716354

580485

26

-52

210

GRC0831

EXPL

Kaampakrom

100

715738

581515

50

-51

90

GRC0832

IND

Grasscutter N

90

716303

580482

21

-51

210

GRC0833

IND

Grasscutter N

170

716326

580514

21

-50

210

GRC0834

EXPL

Kaampakrom

100

715838

581473

58

-51

90

GRC0835

EXPL

Kaampakrom

63

715831

581838

20

-51

180

GRC0836

EXPL

Kaampakrom

60

715911

581820

30

-51

180

GRC0837

IND

Grasscutter N

90

716370

580430

37

-51

210

GRC0838

Piezo

Ewoyaa

114

713688

579469

39

-90

0

GRC0839

IND

Grasscutter N

140

716387

580465

34

-51

210

GRC0840

IND

Ewoyaa

90

716400

580412

34

-51

210

GRC0841

Piezo

Abonko

100

717866

579565

8

-89

0

GRC0842

IND

Grasscutter N

125

716419

580446

34

-51

210

GRC0843

IND

Grasscutter N

162

716440

580480

26

-52

210

GRC0844

IND

Grasscutter N

220

716459

580517

22

-52

210

GRC0845

EXPL

Krofu

110

713860

581554

52

-51

330

GRC0846

IND

Grasscutter N

100

716436

580391

29

-51

210

GRC0847

EXPL

Krofu

250

713929

581835

46

-52

330

GRC0848

IND

Grasscutter N

166

716475

580458

25

-50

210

GRC0849

IND

Grasscutter N

130

716457

580429

27

-51

210

GRC0850

IND

Grasscutter N

199

716492

580494

27

-52

210

GRC0851

EXPL

Krofu

180

713878

581520

45

-50

330

GRC0852

IND

Ewoyaa

310

715801

579075

47

-52

305

GRC0853

EXPL

Assan

100

717357

583158

14

-51

340

GRC0854

EXPL

Assan

114

717370

583127

34

-50

340

GRC0855

EXPL

Assan

50

717428

583191

12

-51

340

GRC0856

EXPL

Assan

88

717441

583154

33

-51

340

GRC0857

IND

Ewoyaa

104

717083

580225

35

-51

180

GRC0858

EXPL

Krampakrom

140

715672

581594

44

-51

90

GRC0859

IND

Ewoyaa

110

717081

580264

40

-51

180

GRC0860

IND

Ewoyaa

80

717001

580212

48

-51

180

GRC0861

EXPL

Krofu

200

713811

581640

56

-50

150

GRC0862

IND

Ewoyaa

80

717057

580469

33

-51

230

GRC0863

IND

Ewoyaa

110

717088

580500

40

-51

230

GRC0864

IND

Ewoyaa

80

717098

580401

20

-52

230

GRC0865

EXPL

Krofu

100

713791

581674

49

-50

150

GRC0866

IND

Ewoyaa

82

717127

580430

20

-51

230

GRC0867

IND

Ewoyaa

80

717079

580439

25

-50

230

GRC0868

IND

Ewoyaa

189

716514

580457

30

-51

210

GRC0869

IND

Ewoyaa

89

717109

580465

30

-50

230

GRC0870

IND

Ewoyaa

200

716536

580491

35

-51

210

GRC0871

IND

Ewoyaa

120

716694

580237

58

-51

140

GRC0872

EXPL

Krampakrom

70

715520

581496

28

-49

330

GRC0873

IND

Ewoyaa

110

716493

580419

29

-51

210

GRC0874

EXPL

Krampakrom

102

715541

581462

37

-51

330

GRC0875

EXPL

Krampakrom

74

715417

581430

30

-51

330

GRC0876

EXPL

Krampakrom

62

715496

581301

48

-51

330

GRC0877

EXPL

Krampakrom

90

715513

581266

55

-52

330

GRC0878

EXPL

Krampakrom

140

715439

581395

30

-51

330

GRC0879

EXPL

Krampakrom

90

715559

581505

34

-51

330

GRC0880

EXPL

Krampakrom

100

715578

581475

42

-50

330

GRC0881

EXPL

Krampakrom

70

715587

581779

31

-51

150

GRC0882

EXPL

Krampakrom

125

715567

581817

36

-51

150

GRC0883

EXPL

Krampakrom

74

715551

581763

31

-50

150

GRC0884

EXPL

Krampakrom

95

715529

581793

38

-50

150

GRC0885

EXPL

Krampakrom

90

715757

581712

25

-51

90

GRC0886A

EXPL

Krampakrom

80

715429

581245

54

-51

330

GRC0887

EXPL

Krampakrom

102

715450

581212

44

-51

330

GRC0888

EXPL

Krampakrom

80

715403

581133

33

-51

330

 

 


'JORC Code 2012 Table 1' Section 1 Sampling Techniques and Data

The following extract from the JORC Code 2012 Table 1 is provided for compliance with the Code requirements for the reporting of Exploration Results.

Criteria

JORC Code explanation

Commentary

Sampling techniques

· Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

· Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

· Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

· RC drill holes were routinely sampled at 1m intervals with a nominal 3-6kg sub-sample split off for assay using a rig-mounted cone splitter at 1m intervals. 

· DD holes were quarter core sampled at 1m intervals or to geological contacts for geochemical analysis.

· For assaying, splits from all prospective ore zones (i.e., logged pegmatites +/- interburden) were sent for assay.  Outside of these zones, the splits were composited to 4m using a portable riffle splitter.

· Holes without pegmatite were not assayed.

· Approximately 5% of all samples submitted were standards and coarse blanks. Blanks were typically inserted with the interpreted ore zones after the drilling was completed.

· Approximately 2.5% of samples submitted were duplicate samples collected after logging using a riffle splitter and sent to an umpire laboratory. This ensured zones of interest were duplicated and not missed during alternative routine splitting of the primary sample.

· Prior to the December 2018 - SGS Tarkwa was used for sample preparation (PRP100) and subsequently forwarded to SGS Johannesburg for analysis; and later SGS Vancouver for analysis (ICP90A).

· Post December 2018 to present - Intertek Tarkwa was used for sample preparation (SP02/SP12) and subsequently forwarded to Intertek Perth for analysis (FP6/MS/OES - 21 element combination Na2O2 fusion with combination OES/MS).

· ALS Laboratory in Brisbane was used for the Company's initial due diligence work programmes and was selected as the umpire laboratory since Phase 1. ALS conducts ME-ICP89, with a Sodium Peroxide Fusion.  Detection limits for lithium are 0.01-10%. Sodium Peroxide fusion is considered a "total" assay technique for lithium. In addition, 22 additional elements assayed with Na2O2 fusion, and combination MS/ICP analysis.

Drilling techniques

· Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

 

 

· Five phases of drilling were undertaken at the Project using RC and DD techniques.  All the RC drilling used face sampling hammers.

· Phase 1 and 2 programmes used a 5.25-inch hammers while Phase 3 and 5 used a 5.75-inch hammer.

· All DD holes were completed using PQ and HQ core from surface (85mm and 63.5mm).

· All DD holes were drilled in conjunction with a Reflex ACT II tool; to provide an accurate determination of the bottom-of-hole orientation.

· All fresh core was orientated to allow for geological, structural and geotechnical logging by a Company geologist. 

Drill sample recovery

· Method of recording and assessing core and chip sample recoveries and results assessed.

· Measures taken to maximise sample recovery and ensure representative nature of the samples.

· Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

· A semi-quantitative estimate of sample recovery was completed for the vast majority of drilling.  This involved weighing both the bulk samples and splits and calculating theoretical recoveries using assumed densities. Where samples were not weighed, qualitative descriptions of the sample size were recorded.  Some sample loss was recorded in the collaring of the RC drill holes.

· DD recoveries were measured and recorded.  Recoveries in excess of 95.8% have been achieved for the DD drilling programme. Drill sample recovery and quality is adequate for the drilling technique employed.

· The DD twin programme has identified a positive grade bias for iron in the RC compared to the DD results. 

Logging

· Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

· Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

· The total length and percentage of the relevant intersections logged.

· All drill sample intervals were geologically logged by Company geologists.

· Where appropriate, geological logging recorded the abundance of specific minerals, rock types and weathering using a standardised logging system that captured preliminary metallurgical domains.

· All logging is qualitative, except for the systematic collection of magnetic susceptibility data which could be considered semi quantitative.

· Strip logs have been generated for each drill hole to cross-check geochemical data with geological logging.

· A small sample of washed RC drill material was retained in chip trays for future reference and validation of geological logging, and sample reject materials from the laboratory are stored at the Company's field office.

· All drill holes have been logged and reviewed by Company technical staff.

· The logging is of sufficient detail to support the current reporting of a Mineral Resource.

Sub-sampling techniques and sample preparation

· If core, whether cut or sawn and whether quarter, half or all core taken.

 

· If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

· For all sample types, the nature, quality and appropriateness of the sample preparation technique.

· Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

· Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.

· Whether sample sizes are appropriate to the grain size of the material being sampled.

· RC samples were cone split at the drill rig.  For interpreted waste zones the 1 or 2m rig splits were later composited using a riffle splitter into 4m composite samples.

· DD core was cut with a core saw and selected half core samples dispatched to Nagrom Laboratory in Perth for preliminary metallurgical test work. 

· The other half of the core, including the bottom-of-hole orientation line, was retained for geological reference.

· The remaining DD core was quarter cored for geochemical analysis.

· Since December 2018, samples were submitted to Intertek Tarkwa (SP02/SP12) for sample preparation. Samples were weighed, dried and crushed to -2mm in a Boyd crusher with an 800-1,200g rotary split, producing a nominal 1,500g split crushed sample, which was subsequently pulverised in a LM2 ring mill.  Samples were pulverised to a nominal 85% passing 75µm.  All the preparation equipment was flushed with barren material prior to the commencement of the job.  Coarse reject material was kept in the original bag.  Lab sizing analysis was undertaken on a nominal 1:25 basis. Final pulverised samples (20g) were airfreighted to Intertek in Perth for assaying. •

· The pulps were submitted for analysis by Sodium peroxide fusion (Nickel crucibles) and Hydrochloric acid to dissolve the melt. Analysed by Inductively Coupled Plasma Mass Spectrometry (FP6MS) / Inductively Coupled Plasma Optical (Atomic) Emission Spectrometry (FP6/OE). The analytical suite consisted of Al, B, Ba, Be, Ca, Cs, Fe, K, Li, Mg, Mn, Nb, P, Rb, S, Si, Sn, Sr, Ta and Ti.

· The vast majority of samples were drilled dry. Moisture content was logged qualitatively.  All intersections of the water table were recorded in the database.

· Field sample duplicates were taken to evaluate whether samples were representative and understand repeatability, with good repeatability.

· Sample sizes and laboratory preparation techniques were appropriate and industry standard.

Quality of assay data and laboratory tests

· The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

· For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

· Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

· Analysis for lithium and a suite of other elements for Phase 1 drilling was undertaken at SGS Johannesburg / Vancouver by ICP-OES after Sodium Peroxide Fusion. Detection limits for lithium (10ppm - 100,000ppm). Sodium Peroxide fusion is considered a "total" assay technique for lithium.

· Review of standards and blanks from the initial submission to Johannesburg identified failures (multiple standards reporting outside control limits). A decision was made to resubmit this batch and all subsequent batches to SGS Vancouver - a laboratory considered to have more experience with this method of analysis and sample type.

· Results of analyses for field sample duplicates are consistent with the style of mineralisation and considered to be representative. Internal laboratory QAQC checks are reported by the laboratory, including sizing analysis to monitor preparation and internal laboratory QA/QC. These were reviewed and retained in the company drill hole database.

· 155 samples were sent to an umpire laboratory (ALS) and/assayed using equivalent techniques, with results demonstrating good repeatability.

· ALL's review of QAQC suggests the SGS Vancouver and Intertek Perth laboratories performed within acceptable limits.

· No geophysical methods or hand-held XRF units have been used for determination of grades in the Mineral Resource.

Verification of sampling and assaying

· The verification of significant intersections by either independent or alternative company personnel.

· The use of twinned holes.

· Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

· Discuss any adjustment to assay data.

· Significant intersections were visually field verified by company geologists and Shaun Searle of Ashmore during the 2019 site visit.

· Drill hole data was compiled and digitally captured by Company geologists in the field. Where hand-written information was recorded, all hardcopy records were kept and archived after digitising.

· Phase 1 and 2 drilling programmes were captured on paper or locked excel templates and migrated to an MS Access database and then into Datashed (industry standard drill hole database management software).  The Phase 3 to 5 programmes were captured using LogChief which has inbuilt data validation protocols.  All analytical results were transferred digitally and loaded into the database by a Datashed consultant.

· The data was audited, and any discrepancies checked by the Company personnel before being updated in the database.

· Twin DD holes were drilled to verify results of the RC drilling programmes. Results indicate that there is iron contamination in the RC drilling process.

· Reported drill hole intercepts were compiled by the Chief Geologist.

· Adjustments to the original assay data included converting Li ppm to Li2O%.

Location of data points

· Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

· Specification of the grid system used.

· Quality and adequacy of topographic control.

· The collar locations were surveyed in WGS84 Zone 30 North using DGPS survey equipment, which is accurate to 0.11mm in both horizontal and vertical directions.  All holes were surveyed by qualified surveyors.  Once validated, the survey data was uploaded into Datashed.

· RC drill holes were routinely down hole surveyed every 6m using a combination of EZ TRAC 1.5 (single shot) and Reflex Gyroscopic tools. 

· After the tenth drill hole, the survey method was changed to Reflex Gyro survey with 6m down hole data points measured during an end-of-hole survey.

· All Phase 2 and 3 drill holes were surveyed initially using the Reflex Gyro tool, but later using the more efficient Reflex SPRINT tool. Phase 4 and 5 drill holes were surveyed using a Reflex SPRINT tool.

· LiDAR survey Southern Mapping to produce rectified colour images and a digital terrain model (DTM) 32km2, Aircraft C206 aircraft-mounted LiDAR Riegl Q780 Camera Hasselblad H5Dc with 50mm Fixfocus lens.

· Coordinate system: WGS84 UTM30N with accuracy to ±0.04.

· The topographic survey and photo mosaic output from the survey is accurate to 20mm. 

· Locational accuracy at collar and down the drill hole is considered appropriate for resource estimation purposes.

Data spacing and distribution

· Data spacing for reporting of Exploration Results.

· Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

· Whether sample compositing has been applied.

· The RC holes were initially drilled on 100m spaced sections and 50m hole spacings orientated at 300° or 330° with dips ranging from -50° to -60°. Planned hole orientations/dips were occasionally adjusted due to pad and/or access constraints.

· Hole spacing was reduced to predominantly 40m spaced sections and 40m hole spacings. Holes are generally angled perpendicular to interpreted mineralisation orientations at the Project.

· Samples were composited to 1m intervals prior to estimation.

Orientation of data in relation to geological structure

· Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

· If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

· The drill line and drill hole orientation are oriented as close as practicable to perpendicular to the orientation of the general mineralised orientation.

· Most of the drilling intersects the mineralisation at close to 90 degrees ensuring intersections are representative of true widths. It is possible that new geological interpretations and/or infill drilling requirements may result in changes to drill orientations on future programmes.

· No orientation based sampling bias has been identified in the data.

Sample security

· The measures taken to ensure sample security.

· Samples were stored on site prior to road transportation by Company personnel to the SGS preparation laboratory. 

· With the change of laboratory to Intertek, samples were picked up by the contractor and transported to the sample preparation facility in Tarkwa.

Audits or reviews

· The results of any audits or reviews of sampling techniques and data.

· Prior to the drilling programme, a third-party Project review was completed by an independent consultant experienced with the style of mineralisation.

· In addition, Shaun Searle of Ashmore reviewed drilling and sampling procedures during the 2019 site visit and found that all procedures and practices conform to industry standards.

 

 

Appendix - JORC Table 1, Section 2, Reporting of Exploration Results

 

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

· Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

· The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.

· Part of the Project is a joint-venture, with the license in the name of the joint-venture party (Barari DV Ghana).

· The southern portion of the deposit occurs within a wholly owned local subsidiary Green Metals Resources Ltd.

· The deposits are located on two licences Mankessim RL3/55 and Mankessim South PL109

· Mankessim South - (Green Metals Resources Ltd - 100% ALL) licence was renewed for three years and expires on 18th February 2023.

· Mankessim - (Barari DV Ghana Ltd - 90% ALL) was renewed for three years and expires on the 22nd of March 2024

· The licenses are in good standing with no known impediments.

Exploration done by other parties

· Acknowledgment and appraisal of exploration by other parties.

· Historical trenching and mapping were completed by the Ghana Geological survey during the 1960's.  But for some poorly referenced historical maps, none of the technical data from this work was located. Many of the historical trenches were located, cleaned and re-logged. No historical drilling was completed

Geology

· Deposit type, geological setting and style of mineralisation.

· Pegmatite-hosted lithium deposits are the target for exploration. This style of mineralisation typically forms as dykes and sills intruding or in proximity to granite source rocks.

· Surface geology within the Project area typically consists of sequences of staurolite and garnet-bearing pelitic schist and granite with lesser pegmatite and mafic intrusives.  Outcrops are typically sparse and confined to ridge tops with colluvium and mottled laterite blanketing much of the undulating terrain making geological mapping challenging.  The hills are often separated by broad, sandy drainages .

Drill hole information

· A summary of all information material to the under-standing of the exploration results including a tabulation of the following information for all Material drill holes:

· easting and northing of the drill hole collar

· elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

· dip and azimuth of the hole

· down hole length and interception depth

· hole length

· If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

 

· All information has been included in the appendices.  No drill hole information has been excluded.

Data aggregation methods

· In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.

· Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

· The assumptions used for any reporting of metal equivalent values should be clearly stated.

· All intersections are reported at a 0.4% Li20 cut-off with maximum 4m of internal pegmatite dilution and no internal waste lithologies whether schist or granite.

· No top-cut is applied as lithium pegmatites are a bulk industrial mineral.

· No metal equivalent values are being reported.

 

Relationship between mineralisation widths and intercept lengths

· These relationships are particularly important in the reporting of Exploration Results.

· If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

· If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').

· The drill line and drill hole orientation are oriented as close to 90 degrees to the orientation of the anticipated mineralised orientation as practicable.

· The majority of the drilling intersects the mineralisation between 60 and 80 degrees.

· Where drilling has drilled down-dip of a known pegmatite, it is reported as such.

Diagrams

· Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

· Relevant plans and selected cross-sections have been included within the release.

 

Balanced Reporting

· Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

· Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

· All hole collars were surveyed WGS84 Zone 30 North grid using a differential GPS. All RC and DD holes were down-hole surveyed with a north-seeking gyroscopic tool.

· All exploration results are being reported.

Other substantive exploration data

· Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

· Drill hole intersections were calculated from drill hole assay data, with geological logging used to aid interpretation of mineralised contact positions.

· No other exploration data are being reported.

Further work

· The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large- scale step-out drilling).

· Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

· Drilling results for a planned infill and extensional drilling programme are being reported.

· Follow up RC and DD drilling may be undertaken once all results from the drilling programme are reviewed; either along strike or down-dip of the known pegmatites.  

· Drill spacing is currently considered adequate for the current level of interrogation of the Project.

 

 ~end~

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DRLBTMFTMTIBMBJ
UK 100

Latest directors dealings