How significant is the Feldspar Mineral Resource Estimate for Atlanic Lithium?

$A11 How significant is the Feldspar Mineral Resource Estimate for Atlanic Lithium?

In a significant development for the African-focused lithium exploration and development company Atlanic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF), a maiden JORC (2012) compliant Mineral Resource Estimate (MRE) for feldspar has been reported for the Ewoyaa Lithium Project in Ghana, West Africa. The newly established Feldspar MRE, totaling 15.7 million tonnes at 40.2% feldspar, is expected to bring positive implications for the company's flagship Ewoyaa Project and the ceramics industry in Ghana.

Expanding Prospective Lithium Tenure

Atlan�c Lithium's recent acquisition of the Ewoyaa Lithium Project has taken a substantial step forward with the maiden MRE for feldspar. The project, aimed at delivering Ghana's first lithium mine, now boasts a significant expansion of prospective lithium tenure totaling 194.5 km2. Out of this, 148.7 km2 is reserved for all mineral rights, including lithium. This development solidifies Atlanic Lithium's position as a major tenement holder in the region.

Feldspar Resource Details

The Feldspar MRE, comprising ... 15.7 million tonnes of feldspar at an impressive grade of 40.2%, is primarily situated in the Ewoyaa Main, Ewoyaa Northeast, Ewoyaa South-1, and Ewoyaa South-2 deposits. These deposits collectively represent the first five years of planned spodumene concentrate production at the Ewoyaa Project. It is important to note that the Feldspar MRE is underpinned by the same geological model used for the 35.3Mt MRE for the Project, which was previously announced.

In addition to feldspar, the MRE also accounts for 31.1% quartz and 11.7% muscovite, which are potential by-products of spodumene concentrate production at Ewoyaa. This diversity in resources enhances the Project's overall economic viability and potentially drives down operating costs.

Ceramics Industry Impact

Feldspar, a crucial component in the ceramics industry, holds significant promise for the Ewoyaa Project. Atlanic Lithium envisions becoming a major domestic feldspar producer in Ghana, supplying the local ceramics market. This strategic move aims to replace the current reliance on small-scale mining operations with a sustainable and industry-standard source of feldspar.

Metallurgical test work and ceramic application trials have already yielded promising results, producing ceramics that meet industry standards in various aspects such as contraction, water absorption, density, porosity, shape, color, and appearance.

Future Prospects and Milestones

The maiden Feldspar MRE has opened doors for Atlanic Lithium to explore the inclusion of feldspar by-product credits in future revisions of the Ewoyaa feasibility studies. This step is expected to further enhance the Project's economic value.

Neil Herbert, the Executive Chairman of Atlanic Lithium, highlighted that with 87% of the resource in the higher-confidence Measured and Indicated categories, the Feldspar MRE represents a significant de-risking and potentially value-enhancing milestone for the Project. It allows the company to move closer to construction with more confidence.

Moreover, the Feldspar MRE is just the beginning, as there is substantial potential for further resource growth beyond the first five years of planned lithium production. The results of the Feldspar Study, assessing market conditions and the viability of producing feldspar at the Project, are eagerly anticipated in Q1 2024. Additionally, a revised feldspar resource estimate considering the life of the mine is expected later in the year.

In conclusion, Atlanic Lithium's maiden Feldspar MRE has ushered in a new era of prospects for the Ewoyaa Lithium Project, with the potential to significantly impact Ghana's ceramics industry. With a focus on sustainability and economic value, the company is poised to make a lasting mark on the region's mining landscape in the coming years.

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