TIDMALL
RNS Number : 4104W
Atlantic Lithium Limited
12 December 2023
12 December 2023
Maiden Feldspar Mineral Resource Estimate
15.7Mt at 40.2% Feldspar
Ewoyaa Lithium Project, Ghana
Maiden MRE reported for feldspar at Ewoyaa, intended to be
supplied to the local Ghanaian ceramics industry and expected to
further enhance the Project's economics
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 announce a maiden JORC (2012)
compliant Mineral Resource Estimate of 15.7Mt at 40.2% feldspar
("Feldspar MRE") for the Company's flagship Ewoyaa Lithium Project
("Ewoyaa Project" or the "Project") in Ghana, West Africa.
Highlights
- Maiden 15.7Mt at 40.2% Feldspar Mineral Resource Estimate
reported for the Ewoyaa Lithium Project, including 13.7Mt (87%) in
the Measured and Indicated categories.
- The Feldspar MRE is confined to the Ewoyaa Main, Ewoyaa
Northeast, Ewoyaa South-1 and Ewoyaa South-2 deposits, which
constitute approximately the first five years of planned spodumene
concentrate production at the Project, as indicated by the Ewoyaa
Definitive Feasibility Study ("DFS", refer announcement of 29 June
2023 ).
- The Feldspar MRE is based on the same geological model that
resulted in the 35.3Mt at 1.25% Li(2) O MRE(1) for the Project
("MRE" or "Resource"; refer announcement of 1 February 2023 ) and
includes 31.1% quartz and 11.7% muscovite, as additional potential
by-products of spodumene concentrate production at Ewoyaa.
- Maiden Feldspar MRE enables the potential inclusion of
feldspar by-product credits in future revisions of the Ewoyaa
feasibility studies, believed to drive down operating costs and
further enhance the value of the Project.
- Feldspar is widely used in the ceramics industry; the Company
believes Ewoyaa could become a major producer of domestic feldspar
in Ghana, which Atlantic Lithium intends to supply into the local
Ghanaian ceramics market.
- Metallurgical test work and ceramic application trials
undertaken; ceramic trials successfully produced acceptable,
industry-standard ware, comparable in all aspects, including
contraction, water absorption, density, porosity, shape, colour and
appearance.
- Further Feldspar MRE growth targeted through the inclusion of
analysis of historic drilling samples across remaining pegmatite
deposits and new drilling currently underway.
- Maiden Feldspar MRE will be incorporated into the ongoing
Feldspar Definitive Feasibility Study ("Feldspar Study") being
undertaken to assess the viability and prospective market
conditions for the production of feldspar at Ewoyaa (refer
announcement of 15 August 2023 ); with results due in Q1 2024.
Commenting, Neil Herbert, Executive Chairman of Atlantic
Lithium, said :
" Identified early on by the Company as a by-product of
spodumene concentrate production at Ewoyaa, the definition of the
maiden Feldspar MRE now confirms the Project's potential as a major
source of domestic feldspar in Ghana, capable of delivering
industry-standard saleable ware.
"Currently supplied only by small-scale mining operations, we
intend to supply the feldspar into the local Ghanian ceramics
market. The Feldspar MRE indicates Ewoyaa's potential to meet and
even surpass Ghana's demand requirements, further demonstrating the
significant contribution the Project is expected to bring to
Ghana.
"The Feldspar MRE is based on the same geological model that
delivered the 35.3Mt MRE for the Project, as announced in February
2023, and incorporates approximately the first five years mine
schedule, as outlined in the DFS. With 87% of the resource in the
higher confidence Measured and Indicated categories, the Feldspar
MRE represents a further significant de-risking and potentially
value-enhancing milestone for the Project as we move closer towards
construction.
"Currently, the economic outcomes indicated by the Definitive
Feasibility Study for the Project do not consider the production of
feldspar at Ewoyaa. The definition of the Feldspar MRE, therefore,
enables the inclusion of feldspar by-product credits in future
revisions of the Project's economics, offering the potential to
further enhance the already impressive financial outcomes expected
to be delivered at Ewoyaa.
" With only the first approximate five years of planned lithium
production included in the Feldspar MRE, there is significant
potential to further grow the resource. The Feldspar MRE will then
be incorporated into the ongoing Feldspar Study which is evaluating
the prospective market conditions and viability of producing
feldspar at the Project. Results of the Feldspar Study are expected
in Q1 2024.
"Initial feldspar quality test work has delivered good quality
vitreous hotelware, high-end earthenware and floor tiles and
successfully substituted industry accepted feldspar in trial
firings. The results of the trials are very encouraging for the
manufacture of saleable feldspar products.
"We look forward to delivering the results of the Feldspar Study
in Q1 2024 and, later in the year, a revised feldspar resource
estimate considering the life of the mine. These represent,
respectively, just two of the major milestones in our sights in
2024 before we break ground at Ewoyaa. "
Maiden Feldspar Mineral Resource Estimate
The Company reports a maiden Mineral Resource Estimate of 15.7Mt
at 40.2% feldspar ("Feldspar MRE") confined to the Ewoyaa Main,
Ewoyaa Northeast, Ewoyaa South-1 and Ewoyaa South-2 deposits, which
represent approximately the first five years of planned production
from the Ewoyaa Lithium Project, as detailed in the Ewoyaa
Definitive Feasibility Study ("DFS") (refer announcement of 29 June
2023 ).
The Feldspar MRE is based on the same geological model that
resulted in the 35.3Mt @ 1.25% Li(2) O Mineral Resource Estimate(1)
for the Project ("MRE" or "Resource"), as announced by the Company
on 1 February 2023.
The Feldspar MRE will be incorporated into the feldspar
Definitive Feasibility Study ("Feldspar Study"), undertaken by the
Company to investigate the economic impact of producing additional
feldspar by-products from the mining of lithium ore at the Project
(refer announcement of 15 August 2023 ).
The Feldspar MRE includes a total of 3.5Mt at 39.7% feldspar in
the Measured category, 10.2Mt at 40.5% feldspar in the Indicated
category and 2Mt at 40.1% feldspar in the Inferred category. In
addition to the feldspar, further by-products of quartz and
muscovite were estimated and included (refer Table 1 ).
The independent Feldspar MRE was completed by Ashmore Advisory
Pty Ltd ("Ashmore") of Perth, Western Australia, with results
tabulated in the Statement of Mineral Resources in Table 1. The
Statement of Mineral Resources is reported in line with
requirements of the JORC Code (2012) and is therefore suitable for
public reporting.
To undertake the estimation, the Company engaged Telemark
Geosciences Ltd ("Telemark") to conduct normative mineralogy
calculations on pegmatite samples obtained from historic drilling
within the Resource area, in addition to new drilling undertaken
and reported to date from the 2023 drilling programme.
The Ewoyaa pegmatites, which make up the Project's deposits,
contain relatively consistent amounts of spodumene (within the
mineralised zones), quartz, albite, potassic feldspar
("k-feldspar") and muscovite mica, along with numerous accessory
minerals in relatively minor amounts. Normative mineralogy was
calculated from total fusion X-ray fluorescence ("XRF") major
element data using a least squares method. The normative
calculations were validated against and corrected where necessary
using X-ray diffraction ("XRD") Reitveld semi-quantitative
mineralogical data from 65 sample pulps selected to represent a
range of chemical compositions and mineralogy.
High-level Whittle optimisation, completed by Mining Focus
Consultants Pty Ltd of Perth, Western Australia, demonstrates
reasonable prospects for eventual economic extraction on the basis
of the lithium Project (refer announcement of 29 June 2023 ).
Table 1: Ewoyaa Lithium Project Feldspar Mineral Resource
Estimate (0.5% Li(2) O Cut-off)
Measured Mineral Resource
Deposit Tonnage Feldspar Quartz Muscovite
Mt % Mt % Mt % Mt
------------- --------- ----- ------- ----- ----- -------
Ewoyaa Main 3.5 39.7 1.37 31.8 1.10 11.5 0.40
--------- -----
Total 3.5* 39.7 1.37 31.8 1.10 11.5 0.40
------------- --------- ----- ------- ----- -----
Indicated Mineral Resource
---------------------------------------------------------------
Deposit Tonnage Feldspar Quartz Muscovite
Mt % Mt % Mt % Mt
------------- --------- ----- ------- ----- ----- -------
Ewoyaa Main 6.5 40.8 2.66 31.6 2.06 11.9 0.78
Ewoyaa Northeast 3.1 39.4 1.23 29.6 0.93 11.1 0.35
Ewoyaa South 1 0.4 42.1 0.16 29.3 0.11 11.7 0.04
Ewoyaa South 2 0.2 41.9 0.07 25.2 0.04 13.0 0.02
------------- --------- ----- ------- ----- ----- -------
Total 10.2* 40.5 4.13 30.8 3.14 11.7 1.19
------------- --------- ----- ------- ----- ----- -------
Inferred Mineral Resource
---------------------------------------------------------------
Deposit Tonnage Feldspar Quartz Muscovite
Mt % Mt % Mt % Mt
------------- --------- ----- ------- ----- ----- -------
Ewoyaa Main 0.6 41.8 0.23 30.6 0.17 11.5 0.06
Ewoyaa Northeast 0.4 39.5 0.15 30.5 0.11 13.0 0.05
Ewoyaa South 1 0.4 40.4 0.16 32.6 0.13 12.8 0.05
Ewoyaa South 2 0.7 38.8 0.27 31.7 0.22 12.6 0.09
--------- -----
Total 2.0* 40.1 0.81 31.4 0.63 12.4 0.25
------------- --------- ----- ------- ----- -----
Total Mineral Resource
Deposit Tonnage Feldspar Quartz Muscovite
Mt % Mt % Mt % Mt
------------- --------- ----- ------- ----- ----- -------
Ewoyaa Main 10.5 40.5 4.27 31.6 3.33 11.7 1.24
Ewoyaa Northeast 3.5 39.4 1.38 29.7 1.04 11.3 0.40
Ewoyaa South 1 0.8 41.3 0.32 31.0 0.24 12.2 0.09
Ewoyaa South 2 0.9 39.4 0.35 30.4 0.27 12.7 0.11
Total 15.7* 40.2 6.31 31.1 4.87 11.7 1.84
------------- --------- ----- ------- ----- -----
NOTE: Based on the lithium Mineral Resource Estimate(1) reported
for the Project in February 2023 and confined to the Ewoyaa Main,
Ewoyaa Northeast, Ewoyaa South-1 and Ewoyaa South-2 deposits. Total
tonnage figures do not include tonnage of spodumene as indicated in
the February 2023 Mineral Resource Estimate(1) for the Project, nor
minor accessory minerals.
The Feldspar MRE has been compiled under the supervision of Mr.
Shaun Searle who is a director of Ashmore Advisory Pty Ltd and a
Registered 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 that he has undertaken to qualify as a Competent Person as
defined in the JORC Code and a Qualified Person under the AIM Rules
for Companies. Mr Searle consents to the inclusion of the
information in relation to the Mineral Resource in the form and
context in which it appears.
All Mineral Resources figures reported in the table above
represent estimates at December 2023. Mineral Resource estimates
are not precise calculations, being dependent on the interpretation
of limited information on the location, shape and continuity of the
occurrence and on the available sampling results. The totals
contained in the above table have been rounded to reflect the
relative uncertainty of the estimate. Rounding may cause some
computational discrepancies.
Mineral Resources are reported in accordance with the
Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (The Joint Ore Reserves Committee Code -
JORC 2012 Edition).
Feldspar quality and its intended use is impacted by weathering;
with fresh 'Primary' feldspar used for higher specification
applications, as opposed to transition 'Weathered' material. Their
estimated relative abundances, and concentrate grades are shown in
Table 2.
To show the tonnage and grade distribution throughout the entire
deposit, a bench breakdown has been prepared using a 10m bench
height, shown in Figure 1, with a grade-tonnage curve for the
classified resource shown in Figure 2.
Table 2: Material types, recoveries and concentrate grades
(recoveries based on laboratory results)
Measured Mineral Resource
-------- ---------------------------------------------------------------------
Type Tonnage Feldspar Quartz Muscovite
Mt % Mt % Mt % Mt
-------- --------------------------- ----- ------- ----- ---------- -----
Primary 3.5 39.7 1.37 31.8 1.10 11.5 0.40
-------- ------- ----------
Total 3.5* 39.7 1.37 31.8 1.10 11.5 0.40
-------- --------------------------- ----- ------- ----- ----------
Indicated Mineral Resource
-------- ---------------------------------------------------------------------
Type Tonnage Feldspar Quartz Muscovite
Mt % Mt % Mt % Mt
-------- --------------------------- ----- ------- ----- ---------- -----
Weathered 0.5 37.1 0.17 33.9 0.15 11.2 0.05
Primary 9.8 40.6 3.96 30.6 2.99 11.7 1.14
-------- ------- ----------
Total 10.2* 40.5 4.13 30.8 3.14 11.7 1.19
-------- --------------------------- ----- ------- ----- ----------
Inferred Mineral Resource
-------- ---------------------------------------------------------------------
Type Tonnage Feldspar Quartz Muscovite
Mt % Mt % Mt % Mt
-------- --------------------------- ----- ------- ----- ---------- -----
Weathered 0.6 37.7 0.22 31.1 0.18 11.9 0.07
Primary 1.4 41.0 0.59 31.4 0.45 12.6 0.18
-------- ------- ----------
Total 2.0* 40.1 0.81 31.4 0.63 12.4 0.25
-------- --------------------------- ----- ------- ----- ----------
Total Mineral Resource
-------- ---------------------------------------------------------------------
Type Tonnage Feldspar Quartz Muscovite
Mt % Mt % Mt % Mt
-------- --------------------------- ----- ------- ----- ---------- -----
Weathered 1.0 37.4 0.38 32.3 0.33 11.6 0.12
Primary 14.7 40.4 5.93 31.0 4.54 11.7 1.72
-------- ------- ----------
Total 15.7* 40.2 6.31 31.1 4.87 11.7 1.84
-------- --------------------------- ----- ------- ----- ----------
NOTE: As per Table 1 above and in Competent Persons section at
end of document.
Total tonnage figures do not include tonnage of spodumene as
indicated in the February 2023 Mineral Resource Estimate(1) for the
Project, nor minor accessory minerals.
Figure 1: Ewoyaa bench tonnage - 10m bench elevation
Figure 2: Ewoyaa feldspar grade - tonnage curve for classified
pegmatite resource
A plan view of the deposit areas is shown in Figure 3, with a
long section shown in Figure 4 and cross-section within the Ewoyaa
Main indicated category zone shown in Figure 5.
Figure 3: Plan View of Ewoyaa Feldspar MRE wireframes and
drilling with prospect names
Figure 4: Long Section Z-Z' of Ewoyaa Main wireframes and
drilling (View towards 300deg; solid colours = Resource(1)
wireframes, wireframe edges = pegmatite wireframes)
Figure 5: Cross Section A-A' of Ewoyaa Block Model feldspar
grades and drilling (with downhole lithium grade along drill hole
trace)
The Feldspar MRE is based on a 0.5% reporting cut-off grade
within a 0.4% Li(2) O wireframed pegmatite body. However, when
assessing all pegmatite volumes (with no cut-offs applied), there
is significant scope to increase the resource tonnage.
Table 3 below shows the overall resource tonnage and grade for
the Ewoyaa Main, Ewoyaa Northeast, Ewoyaa South-1 and Ewoyaa
South-2 deposits, inclusive of all pegmatite material. For example,
the resource can be reported at a significantly larger tonnage by
reducing the cut-off grade to 0.2% Li(2) O, giving an increased
resource of 20.8Mt at 41.6% feldspar. However, as feldspar is
primarily a by-product of the lithium mining operation, the mine
plan will be tailored towards maximising lithium recovery.
Further studies will assess the potential benefits of increased
production by reducing the cut-off grade or higher feed grade on
overall Project economics, consistent with market price predictions
and price trends realised by existing producers.
The Company will conduct further sodium assay analysis and
normative mineralogical calculations for the remaining historic and
current drill campaigns outside the Ewoyaa Main, Ewoyaa Northeast,
Ewoyaa South-1 and Ewoyaa South-2 deposits, with the aim of
increasing the current Feldspar MRE.
Table 3: Overall resource tonnage and grade for the deposit,
inclusive all pegmatite material
Geology and Geological Interpretation
The Ewoyaa Lithium Project area lies within the Birimian
Supergroup, a Proterozoic volcano-sedimentary basin located in
Western Ghana. The Project area is underlain by three forms of
metamorphosed schist; mica schist, staurolite schist and garnet
schist. Several granitoids intrude the basin metasediments as small
plugs. These granitoids range in composition from intermediate
granodiorite (often medium-grained) to felsic leucogranites (coarse
to pegmatoidal grain size), sometimes in close association with
pegmatite veins and bodies.
Pegmatite intrusions generally occur as sub-vertical dykes with
two dominant trends: either east-southeast (Ewoyaa Northeast)
dipping sub-vertically northeast; or north-northeast (Ewoyaa Main)
dipping sub-vertically to moderately to the east. Pegmatite
thickness varies across the Project, with thinner mineralised units
intersected at Ewoyaa Northeast and Ewoyaa South-2 between 10m and
20m; and thicker units intersected at Ewoyaa Main between 30 and
60m, and up to 100m at surface.
Drill Methods
The database contains data for the auger, reverse circulation
("RC") and diamond core ("DD") drilling conducted by the Company
since 2018. The drilling was completed by the Company in six
phases, commencing in April 2018. All the drilling was undertaken
by GeoDrill (Ghana), using both RC and DD rigs.
Drilling at the deposit extends to a vertical depth of
approximately 319m and the mineralisation was modelled from surface
to a depth of approximately 330m below surface. The Feldspar MRE is
based on good quality RC and DD drilling data. Drill hole spacing
is predominantly 20m by 20m and 40m by 40m in the well-drilled
portions of the Project and up to 80m by 80m to 100m by 100m across
the breadth of the known mineralisation.
The RC drilling used a combination of 5.25' and 5.75' face
sampling hammers. The DD used PQ and HQ (85mm and 63.5mm) diameter
core barrels. The DD holes were completed from surface or as tails
with PQ to maximise recovery in weathered zones, with reversion to
HQ once ground conditions improved within fresh material.
In 2018, Phase 1 RC holes were completed on a nominal 100m by
50m grid pattern, targeting the Ewoyaa Main mineralised system.
Phases 2 to 5 reduced the wide spacing to 80m by 40m and down to
40m by 40m in the well drilled portions of the Project. Phase 5 was
a major infill drilling program down to 40m by 40m over most of the
Project. Phase 6 included extensional drilling in areas of open
mineralisation, as well as close spaced infill drilling in portions
of the Ewoyaa deposit.
During Phase 1 and 2, RC drilling bulk samples and splits were
collected at the rig for every metre interval drilled, the splits
being undertaken using a riffle splitter. During Phase 3, Phase 4,
Phase 5 and Phase 6, RC samples were split with a rig mounted cone
spitter, which took duplicate samples for quality control
purposes.
DD was cut with a core saw and selected half core samples was
dispatched to Nagrom Laboratory in Australia for metallurgical test
work.
Selected core intervals were cut to quarter core with a saw at
one-metre intervals or to geological contacts; and since December
2018, were sent to Intertek Laboratory in Tarkwa, Ghana for sample
preparation. Prior to that, samples were sent to SGS Laboratory in
Tarkwa for sample preparation.
All Phase 1 samples were submitted to SGS Tarkwa for preparation
(PRP100) and subsequently forwarded to SGS Johannesburg and later
SGS Vancouver for analysis (ICP90A).
PRP100 - Samples <3kg are dried in trays, crush to 100%
passing 2mm, split using a rotary splitter to 5kg and pulverised in
a LM2 to a nominal 85% passing 75um. Approximately 100g sub-sample
is taken for assay. All the preparation equipment is flushed with
barren material prior to the commencement of the job. Coarse reject
material was kept in the original bag.
Since December 2018, samples have been 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 75um. 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, Australia for assaying.
Sample Analysis Method
Since December 2018, samples were sent to Intertek Laboratory in
Perth for analysis (FP6/MS/OES). FP6/MS/OES is an analysis for
lithium and a suite of 21 other elements. Detection limits for
lithium range between 5ppm and 20,000ppm. The sodium peroxide
fusion (in nickel crucibles) is completed with hydrochloric acid to
dissolve the sub-sample and is considered a total dissolution.
Analysis is conducted by Inductively Coupled Plasma Mass
Spectrometry ("ICP-MS").
Prior to December 2018, Phase 1 samples were submitted to SGS
Johannesburg and later SGS Vancouver for analysis (ICP90A). ICP90
is a 28-element combination Na2O2 fusion with ICP-OES. ICP-MS was
added to some submissions for additional trace element
characterisation purposes.
All phase 1 SGS pulps were subsequently sent to Intertek
Laboratory Perth for re-analysis (FP6/MS/OES) and included in the
resource estimate.
During 2023, 8,793 pulps from the first four drilling campaigns
were analysed for Na using four-acid digestion. The majority of
these pulps were analysed as 2m composites of the original 1m
interval pulps. These re-assayed pulps formed the basis for
normative mineralogy calculations by Telemark.
Quality Control
Quality control data for major elements important for normative
mineral calculations (Al, Si, K, Ca, Na, Li) were quantitatively
reviewed to evaluate the accuracy and precision of the geochemical
data. Data were taken from three client-inserted certified
reference materials (CRM) produced by AMIS (AMIS0682, AMIS0683,
AMIS0684) using a mix of sodium peroxide fusion and fusion XRF
analyses completed by Intertek, Perth. Sodium data were added for
selected samples in 2023 using a 4-acid digestion to allow for
normative mineral estimation.
The three CRMs used were produced from material from the Ewoyaa
lithium deposit and so are ideally matrix-matched for the
mineralisation. In addition, field, coarse crush (preparation) and
pulp duplicate data have been assessed to constrain the relative
precision of the data using the average coefficient of variation
("CVAVG").
A total of 678 granodiorite blanks with low Li content (<50
ppm) were submitted with the drill samples and the major element
data have also been assessed for possible cross contamination.
Normative Mineralogy and Mineralogical Model Validation
Normative mineralogy for samples contained within the Project
has been calculated using a least-squares minimisation technique
called MINSQ. The method requires major and trace element data, as
well as a mineralogical model appropriate to the samples. MINSQ
calculates a normative mineralogy for each sample that minimises
the differences between the observed geochemistry and the predicted
geochemistry for a given mineralogy. The purpose of the analysis is
to estimate the amount of by-product quartz, feldspar and muscovite
available from the mining of spodumene in mineralised
pegmatites.
Minerals having overlapping compositions such as potassium
feldspar and muscovite which are common in pegmatites require
quantitative mineralogical data to determine whether a consistent
ratio between different minerals having similar compositions can be
applied to the data. A total of 65 samples were analysed by
semi-quantitative XRD at Microanalysis Australia, Mount Lawley,
Western Australia using a normalised reference intensity ratio
method and used to validate model predictions from MINSQ.
Two mineralogical models were utilised based on whether the
material was fresh or transitional to oxide material with the
mineral kaolinite incorporated into the latter model as a
replacement for anorthite. Minerals rarely identified in the XRD
analyses, or which occur at low concentration and thus have low
confidence in their identification, were excluded from the
mineralogical model. Therefore, all lithium in the samples reports
to the dominant lithium phase spodumene.
As a general observation, the visual agreement between the
normative mineralogy and geochemistry is better in the fresh
samples compared to transitional samples. This reflects the
complexity added to the mineralogy by partially weathered samples,
although overall the difference in deviation from the mean between
samples within transitional and fresh is small, suggesting that the
mineral models used are producing similar results for both material
types.
Mineral Resource Classification Criteria
The Ewoyaa Lithium Project deposits show good continuity of the
main mineralised units which allowed the drill hole intersections
to be modelled into coherent, geologically robust domains.
Consistency is evident in the thickness of the structure, and the
distribution of grade appears to be reasonable along and across
strike.
The Feldspar MRE was classified as a Measured, Indicated and
Inferred Mineral Resource based on data quality, sample spacing,
and lode continuity. The Measured Mineral Resource was defined
within areas of close spaced RC and DD drilling of less than 20m by
20m, and where the continuity and predictability of the lode
positions was good. Indicated Mineral Resource was defined within
areas of close spaced RC and DD drilling of less than 40m by 40m,
and where the continuity and predictability of the lode positions
was good.
In addition, Indicated Mineral Resource was confined to the
fresh rock. The Inferred Mineral Resource was assigned to
transitional material, areas where drill hole spacing was greater
than 40m by 40m, where small, isolated pods of mineralisation occur
outside the main mineralised zones, and to geologically complex
zones.
Estimation Methodology
A Surpac block model was created to encompass the extents of the
known mineralisation. The block model was rotated on a bearing of
30deg, with block dimensions of 10m NS by 10m EW by 5m vertical
with sub-cells of 2.5m by 2.5m by 1.25m. The block size was
selected based on results of Kriging Neighbourhood Analysis ("KNA")
and also in consideration of two predominant mineralisation
orientations of 30deg and 100 to 120deg.
The parent block size was selected based on KNA, while
dimensions in other directions were selected to provide sufficient
resolution to the block model in the across-strike and down-dip
direction.
Bulk densities ranging between 1.7t/m(3) and 2.78t/m(3) were
assigned in the block model dependent on lithology, mineralisation
and weathering. These densities were applied based on 13,901 bulk
density measurements conducted by the Company on 101 DD holes and
35 RC holes with diamond tails conducted across the breadth of the
Project. The measurements were separated using weathering surfaces,
geology and mineralisation solids, with averages assigned in the
block model.
Cut-off Grade
The Statement of Mineral Resources has been constrained by the
mineralisation solids and reported above a cut-off grade of 0.5%
Li(2) O. The reporting cut-off grade is supported by a high-level
Whittle optimisation.
Mining and Metallurgical Methods and Parameters
The Statement of Mineral Resources has been constrained by the
mineralisation solids, reported at a cut-off grade of 0.5% Li(2) O.
Whittle optimisations demonstrate reasonable prospects for eventual
economic extraction.
Based on the Ewoyaa DFS (refer announcement of 29 June 2023 ),
the Company could produce approximately 500,000 to 1,000,000 tonnes
per annum of mixed potassium oxide (K(2) O) / sodium oxide (Na(2)
O) feldspar as a by-product from spodumene concentrate to be sold
for lithium purification. Initial test work assessed the quality of
two size fractions derived from dense media separation ("DMS"); 2.6
SG oversize fraction with high total alkalis ("O/F") and 2.6 SG
undersize fraction with lower alkalis ("U/F") but significant Li(2)
O at approximately 0.70%, which is a strong flux.
Following examination of chemical and mineralogical composition,
ceramic application trials were undertaken in Stoke-on-Trent (The
Potteries) for vitreous hotelware, high-end earthenware and floor
tiles. Samples were wet ground to the required particle size and
incorporated into commercial recipes, substituting for standard
feldspars and nepheline syenite. Each prepared body was factory
fired and, in the case of vitreous hotelware and high-end
earthenware, biscuit (not glazed), glazed and decorated pieces were
produced.
In all cases, the trial firings produced acceptable ware,
comparable to industry standards in all aspects, including
contraction, water absorption, density, porosity, shape, colour and
appearance. Good results were delivered at the vitreous hotelware
factory (a world leading manufacturer of tableware for the
international hospitality industry), where the Ewoyaa feldspars
were substituted for Forshammer feldspar (produced in Sweden by
Sibelco) (refer Figure 6 ).
Further geological, geotechnical, engineering and metallurgical
studies are recommended to further define the feldspar
mineralisation and marketable products.
Figure 6: Trial-fired ceramic plates and bowls, manufactured in
biscuit (unglazed), glazed and decorated forms (left to right),
comprising of trial standard, O/F sample and U/F sample (top to
bottom). The trials, which deemed that no visual differences were
detected between the trial standard and sample plates, successfully
produced industry-accepted standard of ware across all aspects.
JORC Table 1, Section 1 (Sampling Techniques and Data) and
Section 2 (Reporting of Exploration Results) are included in
Appendix 1.
JORC Table 1, Section 3 (Estimation and Reporting of Mineral
Resources) is included in Appendix 2.
End Notes
(1) Ore Reserves, Mineral Resources and Production Targets
The information in this announcement that relates to Ore
Reserves, Mineral Resources and Production Targets complies with
the 2012 Edition of the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves (JORC
Code). The information in this announcement relating to the Mineral
Resource Estimate ("MRE") of 35.3Mt @ 1.25% Li(2) O for Ewoyaa is
extracted from the Company's announcement dated 1 February 2023,
which is available at atlanticlithium.com.au . The MRE includes a
total of 3.5Mt @ 1.37% Li(2) O in the Measured category, 24.5Mt @
1.25% Li(2) O in the Indicated category and 7.4Mt @ 1.16% Li(2) O
in the Inferred category. The Company confirms that all technical
parameters underpinning the MRE continue to apply. Material
assumptions for the Project have been revised on grant of the
Mining Lease for the Project, announced by the Company on 20
October 2023. The Company is not aware of any new information or
data that materially affects the information included in this
announcement or the announcements dated 1 February 2023 and 20
October 2023.
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.
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
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 Yellow Jersey PR Limited Canaccord Genuity Limited
LLP Charles Goodwin Financial Adviser:
Nominated Adviser Bessie Elliot Raj Khatri (UK) /
Jeff Keating atlantic@yellowjerseypr.com Duncan St John, Christian
Charlie Bouverat Tel: +44 (0)20 3004 Calabrese (Australia)
Tel: +44 (0)20 3470 9512
0470 Corporate Broking:
James Asensio
Tel: +44 (0) 20 7523
4500
============================== ============================= =============================
Notes to Editors:
About Atlantic Lithium
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 Definitive Feasibility Study for the Project indicates the
production of 3.6Mt of spodumene concentrate over a 12-year mine
life, making it one of the top 10 largest spodumene concentrate
mines in the world.
The Project, which was awarded a Mining Lease in October 2023,
is being developed under a funding agreement with Piedmont Lithium
Inc.
Atlantic Lithium holds 509km(2) and 774km(2) of tenure across
Ghana and Côte d'Ivoire respectively, comprising significantly
under-explored, highly prospective licences.
APPIX 1 - JORC Code (2012) Table 1, Sections 1 and 2
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).
Criteria JORC Code Explanation Commentary
============ =========================================================== ===========================================================
Sampling
techniques * Nature and quality of sampling (eg cut channels, * RC drill holes were routinely sampled at 1m intervals
random chips, or specific specialised industry with a nominal 3-6kg sub-sample split off for assay
standard measurement tools appropriate to the using a rig-mounted cone splitter at 1m intervals.
minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad * DD holes were quarter core sampled at 1m intervals or
meaning of sampling. to geological contacts for geochemical analysis.
* Include reference to measures taken to ensure sample * For assaying, splits from all prospective ore zones
representivity and the appropriate calibration of any (i.e. logged pegmatites +/- interburden) were sent
measurement tools or systems used. for assay. Outside of these zones, the splits were
composited to 4m using a portable riffle splitter.
* Aspects of the determination of mineralisation that
are Material to the Public Report. In cases where * Holes without pegmatite were not assayed.
'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 * Approximately 5% of all samples submitted were
pulverised to produce a 30 g charge for fire assay'). standards and coarse blanks. Blanks were typically
In other cases more explanation may be required, such inserted with the interpreted ore zones after the
as where there is coarse gold that has inherent drilling was completed.
sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may
warrant disclosure of detailed information. * 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 Na(2) O(2)
fusion with combination OES/MS).
* ALS Laboratory in Brisbane was used for the Company's
initial due diligence work programs 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 Na(2) O(2) fusion, and combination MS/ICP
analysis.
* During 2023, 8,793 pulps from the first four drilling
campaigns were analysed for Na using four-acid
digestion. The majority of these pulps were analysed
as 2m composites of the original 1m interval pulps.
============ =========================================================== ===========================================================
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Six phases of drilling were undertaken at the Project
hammer, rotary air blast, auger, Bangka, sonic, etc) using RC and DD techniques. All the RC drilling used
and details (eg core diameter, triple or standard face sampling hammers.
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc). * Phase 1 and 2 programs used a 5.25 inch hammers while
Phase 3 used a 5.75-inch hammer. Phase 5 and 6
programmes used 5.5 inch hammer for RC and diamond
pre-collar drilling.
* 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 * A semi-quantitative estimate of sample recovery was
sample recoveries and results assessed. completed for the vast majority of drilling. This
involved weighing both the bulk samples and splits
and calculating theoretical recoveries using assumed
* Measures taken to maximise sample recovery and ensure densities. Where samples were not weighed,
representative nature of the samples. qualitative descriptions of the sample size were
recorded. Some sample loss was recorded in the
collaring of the RC drill holes.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse * DD recoveries were measured and recorded. Recoveries
material. in excess of 95.8% have been achieved for the DD
drilling program. Drill sample recovery and quality
is adequate for the drilling technique employed.
* The DD twin program has identified a positive grade
bias for lithium in the DD compared to the RC
results.
============ =========================================================== ===========================================================
Logging
* Whether core and chip samples have been geologically * All drill sample intervals were geologically logged
and geotechnically logged to a level of detail to by Company geologists.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Where appropriate, geological logging recorded the
abundance of specific minerals, rock types and
* Whether logging is qualitative or quantitative in weathering using a standardised logging system that
nature. Core (or costean, channel, etc) photography. captured preliminary metallurgical domains.
* The total length and percentage of the relevant * All logging is qualitative, except for the systematic
intersections logged. 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 * If core, whether cut or sawn and whether quarter, * RC samples were cone split at the drill rig. For
and sample half or all core taken. interpreted waste zones the 1 or 2m rig splits were
preparation later composited using a riffle splitter into 4m
composite samples.
--
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry. * DD core was cut with a core saw and selected half
core samples totalling 427.1kg dispatched to Nagrom
Laboratory in Perth for preliminary metallurgical
* For all sample types, the nature, quality and test work.
appropriateness of the sample preparation technique.
* The other half of the core, including the
* Quality control procedures adopted for all bottom-of-hole orientation line, was retained for
sub-sampling stages to maximise representivity of geological reference.
samples.
* The remaining DD core was quarter cored for
* Measures taken to ensure that the sampling is geochemical analysis.
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling. * Since December 2018, samples were submitted to
Intertek Tarkwa (SP02/SP12) for sample preparation.
Samples were weighed, dried and crushed to -2mm in a
* Whether sample sizes are appropriate to the grain Boyd crusher with an 800-1,200g rotary split,
size of the material being sampled. 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
75um. 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 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 * The nature, quality and appropriateness of the * Analysis for lithium and a suite of other elements
and assaying and laboratory procedures used and whether for Phase 1 drilling was undertaken at SGS
laboratory the technique is considered partial or total. Johannesburg / Vancouver by ICP-OES after Sodium
tests Peroxide Fusion. Detection limits for lithium (10ppm
- 100,000ppm). Sodium Peroxide fusion is considered a
* For geophysical tools, spectrometers, handheld XRF "total" assay technique for lithium.
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their * During 2023, 8,793 pulps from the first four drilling
derivation, etc. campaigns were analysed for Na using four-acid
digestion at Intertek laboratory, Perth. The majority
of these pulps were analysed as 2m composites of the
* Nature of quality control procedures adopted (eg original 1m interval lithium pulps.
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established. * 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.
* Atlantic Lithium'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 * The verification of significant intersections by * Significant intersections were visually field
and assaying either independent or alternative company personnel. verified by company geologists and Shaun Searle of
Ashmore during the 2019 site visit.
* The use of twinned holes.
* Drill hole data was compiled and digitally captured
by Company geologists in the field. Where
* Documentation of primary data, data entry procedures, hand-written information was recorded, all hardcopy
data verification, data storage (physical and records were kept and archived after digitising.
electronic) protocols.
* Phase 1 and 2 drilling programs were captured on
* Discuss any adjustment to assay data. paper or locked excel templates and migrated to an MS
Access database and then into Datashed (industry
standard drill hole database management software).
Since the Phase 3 drilling program data was 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 programs. Results indicate a positive
bias towards the DD method when compared to RC
drilling for Li(2) O, and it was shown that there is
severe 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 Li(2) O%.
------------ ----------------------------------------------------------- -----------------------------------------------------------
Location of
data points * Accuracy and quality of surveys used to locate drill * The collar locations were surveyed in WGS84 Zone 30
holes (collar and down-hole surveys), trenches, mine North using DGPS survey equipment, which is accurate
workings and other locations used in Mineral Resource to 0.11mm in both horizontal and vertical directions.
estimation. All holes were surveyed by qualified surveyors. Once
validated, the survey data was uploaded into
Datashed. For the current resource upgrade, HHGPS
* Specification of the grid system used. collar positions were used.
* Quality and adequacy of topographic control. * 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.
* All Phase 4 and 5 drill holes were surveyed with a
Reflex SPRINT tool.
* LiDAR survey completed by Southern Mapping to produce
rectified colour images and a digital terrain model
(DTM) over 32km(2)
* 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 * Data spacing for reporting of Exploration Results. * The RC holes were initially drilled on 100m spaced
distribution sections and 50m hole spacings orientated at 300deg
or 330deg with dips ranging from -50deg to -60deg.
* Whether the data spacing, and distribution is Planned hole orientations/dips were occasionally
sufficient to establish the degree of geological and adjusted due to pad and/or access constraints.
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied. * For Phase 2 and 3 programs, hole spacing was reduced
to 80m spaced sections and 40m hole spacings
orientated at 300deg or 310deg, while the Abonko,
* Whether sample compositing has been applied. Kaampakrom and Ewoyaa NE trends were drilled at
220deg, with dips of -50deg.
* Samples were composited to 1m and 2m intervals prior
to estimation.
------------ ----------------------------------------------------------- -----------------------------------------------------------
Orientation
of data in * Whether the orientation of sampling achieves unbiased * The drill line and drill hole orientation are
relation to sampling of possible structures and the extent to oriented as close as practicable to perpendicular to
geological which this is known, considering the deposit type. the orientation of the general mineralised
structure orientation.
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is * Most of the drilling intersects the mineralisation at
considered to have introduced a sampling bias, this close to 90 degrees ensuring intersections are
should be assessed and reported if material. 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 programs.
* 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 Takoradi.
* For the Na analysis, stored pulps were retrieved from
secure container storage at the project field site
for compositing, re-packing and delivery to Intertek.
------------ ----------------------------------------------------------- -----------------------------------------------------------
Audits or
reviews * The results of any audits or reviews of sampling * Prior to the drilling program, a third-party Project
techniques and data. 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.
============ =========================================================== ===========================================================
Section 2 Reporting of Exploration Results
Criteria JORC Code Explanation Commentary
============== ====================================================================== ===========================================================
Mineral
tenement and * Type, reference name/number, location and ownership * The Project covers two contiguous licences, the
land tenure including agreements or material issues with third Mankessim (RL 3/55) and Mankessim South (PL3/109)
status parties such as joint ventures, partnerships, licence.
overriding royalties, native title interests,
historical sites, wilderness or national park and
environmental settings. * The Mankessim licence is a joint-venture, with the
licence in the name of the joint-venture party
(Barari DV Ghana Limited). Document number:
* The security of the tenure held at the time of 0853652-18.
reporting along with any known impediments to
obtaining a license to operate in the area.
* The Project occurs within a Mineral Prospecting
licence and was renewed on the 27 July 2021 for a
further three-year period, valid until 27 July 2024.
* The Mankessim South licence is a wholly-owned
subsidiary of Green Metals Resources. The Mineral
Prospecting licence renewal was submitted in Nov 2022
for a further three-year period.
* The tenement is in good standing with no known
impediments.
* Mining Lease granted in respect of the Project for a
period of 15 years, effective 20 October 2023 until
19 October 2038, file number ML 3/239.
-------------- ---------------------------------------------------------------------- -----------------------------------------------------------
Exploration
done by other * Acknowledgment and appraisal of exploration by other * Historical trenching and mapping were completed by
parties parties. the Ghana Geological survey during the 1960s. 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 * Pegmatite-hosted lithium deposits are the target for
mineralisation. 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.
* The Ewoyaa pegmatites contain relatively consistent
amounts of spodumene (within the mineralised zones),
quartz, albite, potassic feldspar ("k-feldspar") and
muscovite mica, along with numerous other minerals in
relatively minor amounts.
-------------- ---------------------------------------------------------------------- -----------------------------------------------------------
Drill hole
information * A summary of all information material to the * Exploration results are not being reported.
under-standing of the exploration results including a
tabulation of the following information for all
Material drill holes: * All information has been included in the appendices.
No drill hole information has been excluded.
* 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.
-------------- ---------------------------------------------------------------------- -----------------------------------------------------------
Data
aggregation * In reporting Exploration Results, weighting averaging * Exploration results are not being reported.
methods techniques, maximum and/or minimum grade truncations
(e.g. cutting of high grades) and cut-off grades are
usually Material and should be stated. * Not applicable as a Mineral Resource is being
reported.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade * No metal equivalent values are being reported.
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.
============== ====================================================================== ===========================================================
Relationship
between * These relationships are particularly important in the * The drill line and drill hole orientation are
mineralisation reporting of Exploration Results. oriented as close to 90 degrees to the orientation of
widths and the anticipated mineralised orientation as
intercept practicable.
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be
reported. * The majority of the drilling intersects the
mineralisation between 60 and 80 degrees.
* 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').
============== ====================================================================== ===========================================================
Diagrams
* Appropriate maps and sections (with scales) and * Relevant diagrams have been included within the
tabulations of intercepts should be included for any Mineral Resource report main body of text.
significant discovery being reported. These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
============== ====================================================================== ===========================================================
Balanced
Reporting * Accuracy and quality of surveys used to locate drill * All hole collars were surveyed WGS84 Zone 30 North
holes (collar and down-hole surveys), trenches, mine grid using a differential GPS. All RC and DD holes
workings and other locations used in Mineral Resource were down-hole surveyed with a north-seeking
estimation. gyroscopic tool.
* Where comprehensive reporting of all Exploration * Exploration results are not being reported.
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.
-------------- ---------------------------------------------------------------------- -----------------------------------------------------------
Other
substantive * Other exploration data, if meaningful and material, * Results were estimated from drill hole assay data,
exploration should be reported including (but not limited to): with geological logging used to aid interpretation of
data geological observations; geophysical survey results; mineralised contact positions.
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock * Geological observations are included in the report.
characteristics; potential deleterious or
contaminating substances.
============== ====================================================================== ===========================================================
Further work
* The nature and scale of planned further work (e.g. * Follow up RC and DD drilling will be undertaken.
tests for lateral extensions or depth extensions or
large- scale step-out drilling).
* Further metallurgical test work may be required as
the Project progresses through the study stages.
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided * Drill spacing is currently considered adequate for
this information is not commercially sensitive. the current level of interrogation of the Project.
-------------- ---------------------------------------------------------------------- -----------------------------------------------------------
APPIX 2 - JORC Code (2012) Table 1, Section 3
Section 3 Estimation and Reporting of Mineral Resources
Criteria JORC Code Explanation Commentary
============== =========================================================== ===========================================================
Database
integrity * Measures taken to ensure that data has not been * The database has been systematically audited by
corrupted by, for example, transcription or keying Atlantic Lithium geologists.
errors, between its initial collection and its use
for Mineral Resource estimation purposes.
* All drilling data has been verified as part of a
continuous validation procedure. Once a drill hole is
* Data validation procedures used. imported into the database a report of the collar,
down-hole survey, geology, and assay data are
produced. This is then checked by an Atlantic Lithium
geologist and any corrections are completed by the
database manager.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Site visits
* Comment on any site visits undertaken by the * A site visit was conducted by Shaun Searle of Ashmore
Competent Person and the outcome of those visits. during February 2019. Shaun inspected the deposit
area, drill core/chips and outcrop. During this time,
notes and photos were taken. Discussions were held
* If no site visits have been undertaken indicate why with site personnel regarding drilling and sampling
this is the case. procedures. No major issues were encountered.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Geological
interpretation * Confidence in (or conversely, the uncertainty of) the * The confidence in the geological interpretation is
geological interpretation of the mineral deposit. considered to be good and is based on visual
confirmation in outcrop and within drill hole
intersections.
* Nature of the data used and of any assumptions made.
* Geochemistry and geological logging have been used to
* The effect, if any, of alternative interpretations on assist identification of lithology and
Mineral Resource estimation. mineralisation.
* The use of geology in guiding and controlling Mineral * The Project area lies within the Birimian Supergroup,
Resource estimation. a Proterozoic volcano-sedimentary basin located in
Western Ghana. The Project area is underlain by three
forms of metamorphosed schist; mica schist,
* The factors affecting continuity both of grade and staurolite schist and garnet schist. Several
geology. granitoids intrude the basin metasediments as small
plugs. These granitoids range in composition from
intermediate granodiorite (often medium grained) to
felsic leucogranites (coarse to pegmatoidal grain
size), sometimes in close association with pegmatite
veins and bodies. Pegmatite intrusions generally
occur as sub-vertical dykes with two dominant trends:
either east-northeast or north-northeast and dip
sub-vertically to moderately southeast to
east-southeast. Thickness varies across the Project,
with thinner mineralised units intersected at Abonko
and Kaampakrom between 4 to 12m; and thicker units
intersected at Ewoyaa Main between 30 to 60m And up
to 100m at surface.
* Infill drilling has supported and refined the model
and the current interpretation is considered robust.
* Observations from the outcrop of mineralisation and
host rocks; as well as infill drilling, confirm the
geometry of the mineralisation.
* Infill drilling has confirmed geological and grade
continuity.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Dimensions
* The extent and variability of the Mineral Resource * The Project Mineral Resource area extends over a
expressed as length (along strike or otherwise), plan north-south strike length of 4,390m (from 577,380mN -
width, and depth below surface to the upper and lower 581,770mN), and includes the 360m vertical interval
limits of the Mineral Resource. from 80mRL to -280mRL.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Estimation and
modelling * The nature and appropriateness of the estimation * Using parameters derived from modelled variograms,
techniques technique(s) applied and key assumptions, including Ordinary Kriging ("OK") was used to estimate average
treatment of extreme grade values, domaining, block grades in three passes using Surpac software.
interpolation parameters and maximum distance of Linear grade estimation was deemed suitable for the
extrapolation from data points. If a computer Cape Coast Mineral Resource due to the geological
assisted estimation method was chosen include a control on mineralisation. The extrapolation of the
description of computer software and parameters used. lodes along strike and down-dip has been limited to a
distance of 40m. Zones of extrapolation are
classified as Inferred Mineral Resource.
* The availability of check estimates, previous
estimates and/or mine production records and whether
the Mineral Resource estimate takes appropriate * It is assumed that there are no by-products or
account of such data. deleterious elements as shown by metallurgical test
work.
* The assumptions made regarding recovery of
by-products. * The Li(2) O (%), Fe (%), K (%), Al (%), Mn (%), Na
(%) and Ti (ppm) grades; as well as spodumene (%),
quartz (%), albite (%), k-feldspar (%) and muscovite
* Estimation of deleterious elements or other non-grade (%) mineral contents were interpolated into the
variables of economic significance (eg sulphur for Surpac block model.
acid mine drainage characterisation).
* A Surpac block model was created to encompass the
* In the case of block model interpolation, the block extents of the known mineralisation. The block model
size in relation to the average sample spacing and was rotated on a bearing of 30deg, with block
the search employed. dimensions of 10m NS by 10m EW by 5m vertical with
sub-cells of 2.5m by 2.5m by 1.25m. The parent block
size dimension was selected on the results obtained
* Any assumptions behind modelling of selective mining from Kriging Neighbourhood Analysis and also in
units. consideration of two predominant mineralisation
orientations of 30deg and 100 to 120deg.
* Any assumptions about correlation between variables.
* An orientated 'ellipsoid' search was used to select
data and adjusted to account for the variations in
* Description of how the geological interpretation was lode orientations, however all other parameters were
used to control the resource estimates. taken from the variography derived from Domains 1, 2,
3, 4, 7 and 8. Up to three passes were used for each
domain. First pass had a range of 50m, with a minimum
* Discussion of basis for using or not using grade of 8 samples. For the second pass, the range was
cutting or capping. extended to 100m, with a minimum of 4 samples. For
the third pass, the range was extended to 200m, with
a minimum of 1 or 2 samples. A maximum of 16 samples
* The process of validation, the checking process used, was used for each pass with a maximum of 4 samples
the comparison of model data to drill hole data, and per hole.
use of reconciliation data if available.
* No assumptions were made on selective mining units.
* Correlation analysis was conducted on the domains at
Ewoyaa Main.
* The mineralisation was constrained by pegmatite
geology wireframes and internal lithium bearing
mineralisation wireframes prepared using a nominal
0.4% Li(2) O cut-off grade and a minimum down-hole
length of 3m. The wireframes were used as hard
boundaries for the interpolation.
* Statistical analysis was carried out on data from 87
mineralised domains. Following a review of the
population histograms and log probability plots and
noting the low coefficient of variation statistics,
it was determined that the application of high-grade
cuts was not warranted.
* Validation of the model included detailed visual
validation, comparison of composite grades and block
grades by strike panel and elevation. Validation
plots showed good correlation between the composite
grades and the block model grades.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Moisture
* Whether the tonnages are estimated on a dry basis or * Tonnages and grades were estimated on a dry in situ
with natural moisture, and the method of basis.
determination of the moisture content.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Cut-off
parameters * The basis of the adopted cut-off grade(s) or quality * The Statement of Mineral Resources has been
parameters applied. constrained by the mineralisation solids and reported
a cut-off grade of 0.5% Li(2) O. Whittle
optimisations demonstrate reasonable prospects for
eventual economic extraction.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Mining factors
or assumptions * Assumptions made regarding possible mining methods, * Ashmore has assumed that the deposit could be mined
minimum mining dimensions and internal (or, if using open pit mining techniques. A high-level
applicable, external) mining dilution. It is always Whittle optimisation of the Mineral Resource supports
necessary as part of the process of determining this view.
reasonable prospects for eventual economic extraction
to consider potential mining methods, but the
assumptions made regarding mining methods and
parameters when estimating Mineral Resources may not
always be rigorous. Where this is the case, this
should be reported with an explanation of the basis
of the mining assumptions made.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Metallurgical
factors or * The basis for assumptions or predictions regarding * Based on the ELP Feasibility Study, Atlantic Lithium
assumptions metallurgical amenability. It is always necessary as could produce approximately 500,000 to 1,000,000
part of the process of determining reasonable tonnes per annum of mixed K(2) O / Na(2) O feldspar
prospects for eventual economic extraction to as a by-product from spodumene concentrate which will
consider potential metallurgical methods, but the be sold for lithium purification. The feldspar will
assumptions regarding metallurgical treatment be processed by dense media separation to produce two
processes and parameters made when reporting Mineral grades, 2.6 SG O/F with high total alkalis and 2.6 SG
Resources may not always be rigorous. Where this is U/F with lower alkalis but significant Li(2) O at
the case, this should be reported with an explanation approximately 0.70%, which is a strong flux.
of the basis of the metallurgical assumptions made.
* Following examination of chemical and mineralogical
composition, ceramic application trials were
undertaken in Stoke-on-Trent (The Potteries) for
vitreous hotelware, high end earthenware and floor
tiles. Samples were wet ground to the required
particle size and incorporated into commercial
recipes, substituting for standard feldpars and
nepheline syenite. Each prepared body was factory
fired and, in the case of vitreous hotelware and
high-end earthenware, biscuit (not glazed), glazed
and decorated pieces were produced.
* In all cases the trial firings produced acceptable
ware, comparable to the standards in all aspects,
including contraction, water absorption, density,
porosity, shape, colour and appearance. Results at
the vitreous hotelware factory (a world leading
manufacturer of tableware for the international
hospitality industry) where the Atlantic Lithium
feldspars substituted for Forshammer feldspar (mined
in Sweden by Sibelco) were good. Provided Atlantic
Lithium can consistently produce feldspar to the same
or better quality than the samples provided, there is
a very good potential to compete in local and
international ceramic markets for tableware,
including vitreous hotelware, earthen ware and floor
tiles.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Environmental
factors or * Assumptions made regarding possible waste and process * No assumptions have been made regarding environmental
assumptions residue disposal options. It is always necessary as factors. Atlantic Lithium will work to mitigate
part of the process of determining reasonable environmental impacts as a result of any future
prospects for eventual economic extraction to mining or mineral processing.
consider the potential environmental impacts of the
mining and processing operation. While at this stage
the determination of potential environmental impacts,
particularly for a greenfields project, may not
always be well advanced, the status of early
consideration of these potential environmental
impacts should be reported. Where these aspects have
not been considered this should be reported with an
explanation of the environmental assumptions made.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Bulk density
* Whether assumed or determined. If assumed, the basis * Bulk density measurements were completed on selected
for the assumptions. If determined, the method used, intervals of diamond core drilled at the deposit. The
whether wet or dry, the frequency of the measurements measurements were conducted at the Cape Coast core
, processing facility using the water
the nature, size and representativeness of the immersion/Archimedes method. The weathered samples
samples. were coated in paraffin wax to account for porosity
of the weathered samples.
* The bulk density for bulk material must have been
measured by methods that adequately account for void * A total of 13,901 measurements were conducted on the
spaces (vugs, porosity, etc), moisture and Cape Coast mineralisation, with samples obtained from
differences between rock and alteration zones within oxide, transitional and fresh material.
the deposit.
* Bulk densities ranging between 1.7t/m(3) and
* Discuss assumptions for bulk density estimates used 2.78t/m(3) were assigned in the block model dependent
in the evaluation process of the different materials. on lithology, mineralisation and weathering.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Classification
* The basis for the classification of the Mineral * The Mineral Resource estimate is reported here in
Resources into varying confidence categories. compliance with the 2012 Edition of the 'Australasian
Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves' by the Joint Ore Reserves
* Whether appropriate account has been taken of all Committee (JORC). The ELP feldspar Mineral Resource
relevant factors (i.e. relative confidence in was classified as Measured, Indicated and Inferred
tonnage/grade estimations, reliability of input data, Mineral Resource based on data quality, sample
confidence in continuity of geology and metal values, spacing, and lode continuity; with the same
quality, quantity and distribution of the data). parameters used to classify the lithium Mineral
Resource. The Measured Mineral Resource was confined
to fresh rock within areas drilled at 20m by 15m
* Whether the result appropriately reflects the along with robust continuity of geology and Li(2) O
Competent Person's view of the deposit. grade. The Indicated Mineral Resource was defined
within areas of close spaced drilling of less than
40m by 40m, and where the continuity and
predictability of the lode positions was good. In
addition, Indicated Mineral Resource was classified
in weathered rock overlying fresh Measured Mineral
Resource. The Inferred Mineral Resource was assigned
to transitional material, areas where drill hole
spacing was greater than 40m by 40m, where small,
isolated pods of mineralisation occur outside the
main mineralised zones, and to geologically complex
zones.
* The input data is comprehensive in its coverage of
the mineralisation and does not favour or
misrepresent in-situ mineralisation. The definition
of mineralised zones is based on high level
geological understanding producing a robust model of
mineralised domains. This model has been confirmed by
infill drilling which supported the interpretation.
Validation of the block model shows good correlation
of the input data to the estimated grades.
* The Mineral Resource estimate appropriately reflects
the view of the Competent Person.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Audits or
reviews * The results of any audits or reviews of Mineral * Internal audits have been completed by Ashmore which
Resource estimates. verified the technical inputs, methodology,
parameters and results of the estimate.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
Discussion of
relative * Where appropriate a statement of the relative * The geometry and continuity have been adequately
accuracy/ accuracy and confidence level in the Mineral Resource interpreted to reflect the applied level of Indicated
confidence estimate using an approach or procedure deemed and Inferred Mineral Resource. The data quality is
appropriate by the Competent Person. For example, the good, and the drill holes have detailed logs produced
application of statistical or geostatistical by qualified geologists. A recognised laboratory has
procedures to quantify the relative accuracy of the been used for all analyses.
resource within stated confidence limits, or, if such
an approach is not deemed appropriate, a qualitative
discussion of the factors that could affect the * The Mineral Resource statement relates to global
relative accuracy and confidence of the estimate. estimates of tonnes and grade.
* The statement should specify whether it relates to * No historical mining has occurred; therefore,
global or local estimates, and, if local, state the reconciliation could not be conducted.
relevant tonnages, which should be relevant to
technical and economic evaluation. Documentation
should include assumptions made and the procedures
used.
* These statements of relative accuracy and confidence
of the estimate should be compared with production
data, where available.
-------------- ----------------------------------------------------------- -----------------------------------------------------------
APPIX 3
Glossary of Terms and Abbreviations
Assay Measure of valuable mineral content.
Block Model A three-dimensional structure into which parameters
are interpolated during the resource estimation process.
Competent Person 'CP' Competent Person, as defined by the JORC
Code. A 'Competent Person' is a minerals industry professional who
is a Member or Fellow of The Australasian Institute of Mining and
Metallurgy, or of the Australian Institute of Geoscientists, or of
a 'Recognised Professional Organisation' (RPO), as included in a
list available on the JORC and ASX websites. These organisations
have enforceable disciplinary processes including the powers to
suspend or expel a member. A Competent Person must have a minimum
of five years relevant experience in the style of mineralisation or
type of deposit under consideration and in the activity which that
person is undertaking. If the Competent Person is preparing
documentation on Exploration Results, the relevant experience must
be in exploration. If the Competent Person is estimating, or
supervising the estimation of Mineral Resources, the relevant
experience must be in the estimation, assessment and evaluation of
Mineral Resources. If the Competent Person is estimating, or
supervising the estimation of Ore Reserves, the relevant experience
must be in the estimation, assessment, evaluation and economic
extraction of Ore Reserves.
Core A solid, cylindrical sample of rock typically produced by a
rotating drill bit, but sometimes cut by percussive methods.
CVAVG The co-efficient of variation (CV) is a statistical
measure of the relative dispersion of data points in a data series
around the mean. It represents the ratio of the standard deviation
to the mean.
CRM A Certified Reference Material ("CRM") represents a known
grade composition control sample and is used to test and validate
mineral samples extracted in mining and exploration projects during
an assay process.
Cut - off grade The lowest grade of mineralized material that
qualifies as ore in a given deposit; rock of the lowest assay
included in an ore estimate.
DD Diamond core drilling
Deposit An occurrence of economically interesting minerals.
Dip The angle at which a bed, stratum, or vein is inclined from
the horizontal, measured perpendicular to the strike and in the
vertical plane.
DMS Dense medium separation
Drillhole Technically, a circular hole drilled by forces applied
percussively and/or by rotation; loosely and commonly, the name
applies to a circular hole drilled in any manner.
Drilling The operation of making deep holes with a drill for
prospecting, exploration, or valuation.
Feldspar A ny of a group of crystalline minerals that consist of
silicates of aluminium with potassium, sodium, calcium, or barium
and that are a basic part of nearly all crystalline rocks. Most
common feldspars present at Ewoyaa include albite (sodium feldspar)
and orthoclase (potassium feldspar).
Grade The relative quantity or the percentage of ore-mineral or
metal content in an orebody.
Exploration The art and science of investigation for the
location of undiscovered mineral deposits.
ICP ICP (Inductively Coupled Plasma) Spectroscopy is an
analytical technique used to measure and identify elements within a
sample matrix based on the ionization of the elements withing the
sample.
ICP-MS Inductively coupled plasma mass spectrometry (ICP-MS) is
an analytical technique used to measure and identify elements
within a sample matrix based on the ionization of the elements
withing the sample. ICP-MS uses an argon (Ar) plasma - the ICP - to
convert the sample into ions that are then measured using a mass
spectrometer - the MS.
Indicated Mineral Resource That part of a Mineral Resource for
which quantity, grade (or quality), densities, shape and physical
characteristics are estimated with sufficient confidence to allow
the application of Modifying Factors in sufficient detail to
support mine planning and evaluation of the economic viability of
the deposit. Geological evidence is derived from adequately
detailed and reliable exploration, sampling and testing gathered
through appropriate techniques from locations such as outcrops,
trenches, pits, workings and drill holes, and is sufficient to
assume geological and grade (or quality) continuity between points
of observation where data and samples are gathered. An Indicated
Mineral Resource has a lower level of confidence than that applying
to a Measured Mineral Resource and may only be converted to a
Probable Ore Reserve.
Inferred Mineral Resource That part of a Mineral Resource for
which quantity and grade (or quality) are estimated on the basis of
limited geological evidence and sampling. Geological evidence is
sufficient to imply but not verify geological and grade (or
quality) continuity. It is based on exploration, sampling and
testing information gathered through appropriate techniques from
locations such as outcrops, trenches, pits, workings and drill
holes. An Inferred Mineral Resource has a lower level of confidence
than that applying to an Indicated Mineral Resource and must not be
converted to an Ore Reserve. It is reasonably expected that the
majority of Inferred Mineral Resources could be upgraded to
Indicated Mineral Resources with continued exploration.
JORC Code The Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves, 2012 Edition, Prepared
by the Joint Ore Reserves Committee of The Australasian Institute
of Mining and Metallurgy, Australian Institute of Geoscientists and
Minerals Council of Australia ("JORC").
Measured Mineral Resource That part of a Mineral Resource for
which quantity, grade (or quality), densities, shape, and physical
characteristics are estimated with confidence sufficient to allow
the application of Modifying Factors to support detailed mine
planning and final evaluation of the economic viability of the
deposit. Geological evidence is derived from detailed and reliable
exploration, sampling and testing gathered through appropriate
techniques from locations such as outcrops, trenches, pits,
workings and drill holes, and is sufficient to confirm geological
and grade (or quality) continuity between points of observation
where data and samples are gathered. A Measured Mineral Resource
has a higher level of confidence than that applying to either an
Indicated Mineral Resource or an Inferred Mineral Resource. It may
be converted to a Proved Ore Reserve or under certain circumstances
to a Probable Ore Reserve.
Mineral Resource A concentration or occurrence of solid material
of economic interest in or on the Earth's crust in such form, grade
(or quality), and quantity that there are reasonable prospects for
eventual economic extraction. The location, quantity, grade (or
quality), continuity and other geological characteristics of a
Mineral Resource are known, estimated or interpreted from specific
geological evidence and knowledge, including sampling. Mineral
Resources are sub-divided, in order of increasing geological
confidence, into Inferred, Indicated and Measured categories.
Mineralisation The process by which minerals are introduced into
a rock. More generally, a term applied to accumulations of economic
or related minerals in quantities ranging from weakly anomalous to
economically recoverable.
MINSQ A least squares spreadsheet method for calculating mineral
proportions from whole rock major element analyses.
Modifying Factors Considerations used to convert Mineral
Resources to Ore Reserves. These include, but are not restricted
to, mining, processing, metallurgical, infrastructure, economic,
marketing, legal, environmental, social and governmental
factors.
MRE Mineral Resource Estimate
Mt Million tonnes
Muscovite Often called 'white mica', muscovite is the lightest
coloured mica mineral and one of the common rock forming minerals
in pegmatites. Micas are characterized by a crystal structure
consisting of aluminum silicate sheets weakly bound together by
layers of positive ions (usually potassium, but sometimes
sodium).
Normative mineralogy Normative mineralogy is a calculation of
the composition of a rock sample that estimates the idealised
mineralogy of a rock based on a quantitative chemical analysis
according to the principles of geochemistry. Normative mineral
calculations can be achieved via either the CIPW Norm or the
Barth-Niggli Norm.
Ore The naturally occurring material from which a mineral or
minerals of economic value can be extracted profitably or to
satisfy social or political objectives. The term is generally but
not always used to refer to metalliferous material and is often
modified by the names of the valuable constituent.
Ore Reserves Is the economically mineable part of a Measured
and/or Indicated Mineral Resource. It includes diluting materials
and allowances for losses, which may occur when the material is
mined or extracted and is defined by studies at Pre-Feasibility or
Feasibility level as appropriate that include application of
Modifying Factors. Such studies demonstrate that, at the time of
reporting, extraction could reasonably be justified.
Ordinary Kriging Kriging is one of several methods that use a
limited set of sampled data points to estimate the value of a
variable over a continuous spatial field. Ordinary kriging is the
most widely used kriging method. It serves to estimate a value at a
point of a region for which a variogram is known, using data in the
neighborhood of the estimation location. Ordinary kriging can also
be used to estimate a block value.
Pegmatite A coarsely crystalline granite or other igneous rock
with crystals several centimetres in length. Pegmatites are extreme
igneous rocks that form during the final stage of a magma's
crystallization. They are extreme because they contain
exceptionally large crystals and they sometimes contain minerals
that are rarely found in other types of rocks.
Quartz A mineral consisting of silicon dioxide occurring in
colourless and transparent or coloured hexagonal crystals or in
crystalline masses.
RC Reverse circulation drilling; a type of drilling used in
minerals exploration and evaluation that uses compressed air and a
percussion hammer to flush material cuttings out of the drill hole
through hollow inner tubes to transport samples back to the surface
in a safe and efficient manner without contamination from the
strata hole walls.
SG Specific gravity (symbol SG), another name for Relative
density: the weight of a volume of fluid or solution as compared to
the weight of the same volume of water.
Strike The course or bearing of the outcrop of an inclined bed,
vein, or fault plane on a level surface; the direction of a
horizontal line perpendicular to the direction of the dip.
Whittle Optimisation The Four-X Whittle Optimisation process uses the Lerchs-Grossmann algorithm to determine the optimal shape for an open pit in three dimensions. Based on the economic input parameters selected it can define a pit outline that has the highest possible total value, subject to the required pit slopes.
Wireframe Three dimensional solids representing geological/mineralogical domains.
XRF X-ray Fluorescence (XRF) is an analytical technique that
uses the interaction of X-rays with a material to determine its
elemental composition. XRF is suitable for solids, liquids and
powders, and in most circumstances is non-destructive.
end
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December 12, 2023 02:00 ET (07:00 GMT)
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