Atlantic Lithium Limited Announces High-Grade Drill Results - Highest Grade to Date

Rhea-AI Summary

Atlantic Lithium reported promising assay results from its Ewoyaa Lithium Project in Ghana, highlighting ongoing resource extension and infill drilling. The results include high-grade intersections with the highest grade reaching 6.78% Li2O. A total of 37,000m results have been reported from the 47,000m drilling program, with significant expansions in mineralisation confirmed at various deposits. Their recent Pre-Feasibility Study projected LOM revenues exceeding US$4.84bn, with an impressive IRR of 224%. The company anticipates a resource upgrade in early 2023.

Positive

• High-grade drill intersections reported, including 6.78% Li2O.
• 37,000m of results from a 47,000m drilling program reported to date.
• LOM revenues projected to exceed US$4.84bn with an IRR of 224%.
• Positive Pre-Feasibility Study outcomes support mining licence application.

Negative

• None.

Mineralisation Extended - Multiple Intersections Highest Grade of 6.78% Li₂O reported Ongoing Resource Extension and Infill Drilling Results Ewoyaa Lithium Project Ghana, West Africa

SYDNEY, AUSTRALIA / ACCESSWIRE / November 29, 2022 / Atlantic Lithium Limited (AIM:ALL)(OTCQX:ALLIF)(ASX:A11) "Atlantic Lithium" or the "Company"), the funded African-focussed lithium exploration and development company targeting to deliver Ghana's first lithium mine, is pleased to announce assay results from the resource and exploration drilling programme now completed at the Ewoyaa Lithium Project ("Ewoyaa" or the "Project") in Ghana, West Africa.

Figures and Tables referred to in this release can be viewed in the PDF version available via this link:

http://www.rns-pdf.londonstockexchange.com/rns/8509H_1-2022-11-28.pdf

HIGHLIGHTS:

• Assay results reported for a further 10,679m of exploration and infill diamond drilling ("DD") and reverse circulation ("RC") drilling completed at the Ewoyaa Main, Ewoyaa North-East, Kaampakrom and Grasscutter West deposits, part of the now completed resource evaluation and exploration RC and DD programme.
• Newly reported drilling results fall both within and outside the currently defined 30.1Mt @ 1.26% Li₂O Ewoyaa JORC (2012) Compliant Mineral Resource Estimate ("MRE" or the "Resource"); extending mineralisation at the Ewoyaa North-East and Ewoyaa Main deposits, defining new mineralisation from surface at the Kaampakrom North deposit and providing further confidence in Resource conversion at the Kaampakrom West deposit.
• Multiple high-grade exploration drill intersections outside of the current MRE reported at the Ewoyaa North-East, Kaampakrom West and Ewoyaa Main deposits, including highlights of:
  • GRC0785: 35m at 1.48% Li₂O from 111m
  • GRC0760: 27m at 1.71% Li₂O from 155m
  • GRC0769: 46m at 0.96% Li₂O from 51m
  • GRC0775: 20m at 1.85% Li₂O from 72m
  • GRC0777: 24m at 1.43% Li₂O from 108m
  • GRC0763: 26m at 1.26% Li₂O from 163m
  • GRC0759A: 17m at 1.69% Li₂O from 114m
  • GRC0777: 14m at 1.89% Li₂O from 140m
  • GRC0775: 13m at 1.91% Li₂O from 117m
  • GRC0800: 23m at 1.01% Li₂O from 263m
  • GRC0759A: 18m at 1.24% Li₂O from 148m
  • GRC0779: 14m at 1.43% Li₂O from 137m
  • GRC0776: 10m at 1.96% Li₂O from 190m
• Broad and high-grade infill drill intersections within the current MRE, reported at the Ewoyaa Main and Ewoyaa North-East deposits, including highlights of:
  • GDD0090: 63.6m at 1.86% Li₂O from 14.3m
  • GDD0089: 68m at 1.37% Li₂O from 15m
  • GRC0756: 60m at 1.36% Li₂O from 29m
  • GDD0098: 24.4m at 1.72% Li₂O from 38.6m
  • GDD0090: 17.9m at 1.37% Li₂O from 79.5m
  • GDD0094: 21m at 0.96% Li₂O from 46m
• Highest grade of 6.78% Li₂O confirmed in previously reported hole GDD0071 from 31m to 32m (refer RNS of 20 October 2022), and additional high-grades of 5.14% Li₂O in hole GDD0090 from 30m to 31m and 4.78% Li₂O from 31m to 31.8m.
• Approximately 37,000m of results from the 47,000m drilling programme reported to date.
• Recently announced Pre-Feasibility Study (refer RNS of 22 September 2022) delivers exceptional financial outcomes for a 2Mtpa operation, producing an average c. 255,000tpa of 6% Li₂O spodumene concentrate ("SC6") over a 12.5-year operation:
  • LOM revenues exceeding US$4.84bn, Post-tax NPV₈ of US$1.33bn, IRR of 224% over 12.5 years
  • US$125m capital cost with industry-leading payback period of <5 months
  • C1 cash operating costs of US$278 per tonne of 6% lithium spodumene concentrate Free on Board ("FOB") Ghana Port, after by-product credits
  • Average Life of Mine ("LOM") EBITDA of US$248m per annum
  • 18.9Mt at 1.24% Li₂O Maiden Ore Reserve
  • Average annualised US$1,359/dry metric tonne SC6 pricing used

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

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

"This latest batch of results has delivered multiple drill intersections outside the resource footprint at the Ewoyaa North-East, Kaampakrom West and Ewoyaa Main deposits, including highlights of 35m at 1.48% Li2O from 111m and 27m at 1.71% Li2O from 155m at the Ewoyaa North-East deposit.

"Drilling has returned high-grade results at the Kaampakrom West deposit, including highlights of 20m at 1.85% Li₂O from 72m, 14m at 1.89% Li₂O from 140m, 14m at 1.89% Li₂O from 140m and 13m at 1.91% Li₂O from 117m, in addition to our highest-grade assay result of 6.78% Li₂O over a 1m interval in drilling at the Ewoyaa Main 'Starter Pit' for this programme.

"We have reported approximately 37,000m of the 47,000m programme to date, with 10,000m of assays pending and a Resource upgrade expected early 2023. The increased Resource estimate will inform a Definitive Feasibility Study, targeted for completion in mid-2023.

"With the Pre-Feasibility Study now delivered, the Mining Licence application submitted, ongoing positive drilling results and with the support of our funding agreement with Piedmont Lithium, we feel the Company is ideally positioned to benefit from the unprecedented levels of lithium demand that are expected over the coming years."

New Drilling Results:

Further assay results have been received for an additional 10,679m of RC and DD drilling from the recently completed drill programme at the Ewoyaa Project. Multiple high-grade drill intersections are reported for exploration drilling results outside of the currently defined Resource at the Ewoyaa North-East, Kaampakrom West, Ewoyaa Main and Grasscutter West and deposits (refer Table 1, Appendix 1 and Appendix 2).

High-grade infill drill intersections are reported within the Ewoyaa Main and Ewoyaa North-East deposits, which fall within the currently defined 30.1Mt @ 1.26% Li₂O MRE (refer Table 2, Appendix 1 and Appendix 2).

Table 1: High-grade exploration drill intersection highlights at greater than 10 Li x m, reported at a 0.4% Li₂O cut-off and a maximum of 4m internal dilution at the Ewoyaa North-East, Kaampakrom West, Ewoyaa Main and Grasscutter West deposits.

Hole ID	Target	Deposit	From m	To m	Interval m	Hole depth m	assay Li2O %	Intersection	metal content Li x m
GRC0785	EXPL	NE	111	146	35	190	1.48	GRC0785: 35m at 1.48% Li2O from 111m	51.68
GRC0760	EXPL	NE	155	182	27	240	1.70	GRC0760: 27m at 1.71% Li2O from 155m	45.94
GRC0769	EXPL	KPKW	51	97	46	119	0.96	GRC0769: 46m at 0.96% Li2O from 51m	44.16
GRC0775	EXPL	KPKW	72	92	20	150	1.85	GRC0775: 20m at 1.85% Li2O from 72m	37.00
GRC0777	EXPL	KPKW	108	132	24	180	1.42	GRC0777: 24m at 1.43% Li2O from 108m	34.12
GRC0763	EXPL	NE	163	189	26	270	1.25	GRC0763: 26m at 1.26% Li2O from 163m	32.56
GRC0759A	EXPL	NE	114	131	17	230	1.69	GRC0759A: 17m at 1.69% Li2O from 114m	28.73
GRC0777	EXPL	KPKW	140	154	14	180	1.89	GRC0777: 14m at 1.89% Li2O from 140m	26.42
GRC0775	EXPL	KPKW	117	130	13	150	1.91	GRC0775: 13m at 1.91% Li2O from 117m	24.80
GRC0800	EXPL	Main	263	286	23	347	1.00	GRC0800: 23m at 1.01% Li2O from 263m	23.01
GRC0759A	EXPL	NE	148	166	18	230	1.24	GRC0759A: 18m at 1.24% Li2O from 148m	22.31
GRC0779	EXPL	NE	137	151	14	272	1.43	GRC0779: 14m at 1.43% Li2O from 137m	19.98
GRC0776	EXPL	NE	190	200	10	260	1.95	GRC0776: 10m at 1.96% Li2O from 190m	19.51
GRC0798	EXPL	Main	254	267	13	322	1.16	GRC0798: 13m at 1.17% Li2O from 254m	15.09
GRC0796	EXPL	Main	237	248	11	300	1.32	GRC0796: 11m at 1.33% Li2O from 237m	14.53
GRC0762	EXPL	NE	81	88	7	223	1.88	GRC0762: 7m at 1.88% Li2O from 81m	13.16
GRC0799	EXPL	NE	182	194	12	210	0.99	GRC0799: 12m at 1% Li2O from 182m	11.92
GRC0755	EXPL	GrassW	172	194	22	241	0.53	GRC0755: 22m at 0.53% Li2O from 172m	11.66

Table 2: High-grade infill drill intersection highlights at greater than 10 Li x m, reported at a 0.4% Li₂O cut-off and maximum of 4m of internal dilution at the Ewoyaa Main and Ewoyaa North-East deposits.

Hole ID	Target	Deposit	From m	To m	Interval m	Hole depth m	assay Li2O %	Intersection	metal content Li x m
GDD0090	IND	NE	14.3	77.9	63.6	114	1.86	GDD0090: 63.6m at 1.86% Li2O from 14.3m	118.02
GDD0089	MEA	Main	15	83	68	90.8	1.37	GDD0089: 68m at 1.37% Li2O from 15m	92.88
GRC0756	MEA	Main	29	89	60	90	1.35	GRC0756: 60m at 1.36% Li2O from 29m	81.23
GDD0098	IND	Main	38.6	63	24.4	170.4	1.72	GDD0098: 24.4m at 1.72% Li2O from 38.6m	41.94
GDD0090	IND	NE	79.5	97.4	17.9	114	1.36	GDD0090: 17.9m at 1.37% Li2O from 79.5m	24.41
GDD0094	IND	Main	46	67	21	95.4	0.95	GDD0094: 21m at 0.96% Li2O from 46m	19.97
GDD0096	IND	Main	45	62	17	83.4	0.95	GDD0096: 17m at 0.95% Li2O from 45m	16.07
GRC0781	IND	KPKW	80	88	8	110	1.74	GRC0781: 8m at 1.75% Li2O from 80m	13.95

Exploration drilling results outside the 30.1Mt at 1.26% Li₂O Resource continue to demonstrate further resource scale potential at the Ewoyaa Project, where multiple new drilling intersections have confirmed mineralisation extensions at the Ewoyaa North-East, Kaampakrom West, Ewoyaa Main and Grasscutter West deposits (refer Figure 1, Figure 2, Figure 3 and Figure 4).

Resource infill drilling results received to date at the Ewoyaa Main and Ewoyaa North-East deposits have confirmed good mineralisation continuity and increased resource confidence on a nominal 40m x 40m Indicated grid and 20m x 20m Measured grid. Measured drilling targeted the first 1.5 to 2 years of planned production at the Ewoyaa Main deposit. Additionally, infill drilling provided further material for test-work and customer acceptance samples within the planned starter pit.

High grades were reported within the Kaampakrom West deposit including highlights of 20m at 1.85% Li₂O from 72m, 14m at 1.89% Li₂O from 140m, 14m at 1.89% Li₂O from 140m and 13m at 1.91% Li₂O from 117m.

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

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

Figure 2: Cross-section A-A' showing assay results received for GDD0089 at the Ewoyaa Starter Pit deposit.

Figure 3: Cross-section B-B' assay results received forGRC0775 and GRC0777 at the Kaampakrom West target.

Figure 4: Cross-section C-C' assay results received for GDD0090, GRC0776 and GRC0772 at the Ewoyaa North-East deposit.

Competent Persons

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

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

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

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

For any further information, please contact:

Atlantic Lithium Limited Lennard Kolff (Interim CEO) Amanda Harsas (Finance Director and Company Secretary) www.atlanticlithium.com.au	Tel: +61 2 8072 0640
atlantic@yellowjerseypr.com
SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat	Tel: +44 (0)20 3470 0470
Canaccord Genuity Limited Joint Company Broker Raj Khatri James Asensio Harry Rees	Tel: +44 (0) 20 7523 4500
Liberum Capital Limited Joint Company Broker Scott Mathieson Edward Thomas Kane Collings	Tel: +44 (0) 20 3100 2000
Yellow Jersey PR Limited Henry Wilkinson Dominic Barretto James Lingfield	Tel: +44 (0)20 3004 9512

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 Company signed a funding agreement with Piedmont Lithium Inc. for US$103m towards the development of the Ewoyaa Project. Based on the Pre-Feasibility Study, the Ewoyaa Project has indicated Life of Mine revenues exceeding US$4.84bn, producing a spodumene concentrate via simple gravity only process flowsheet.

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

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

Hole ID	Hole target	Deposit	From m	To m	Interval m	Hole depth m	Assay Li2O %	Intersection	Comment	metal content Li x m
GDD0089	MEA	Main	1.2	6	4.8	90.8	0.41	GDD0089: 4.8m at 0.41% Li2O from 1.2m		1.96
GDD0089	MEA	Main	15	83	68	90.8	1.37	GDD0089: 68m at 1.37% Li2O from 15m		92.88
GDD0089	MEA	Main	84.9	85.9	1	90.8	1.49	GDD0089: 1m at 1.49% Li2O from 84.9m		1.49
GDD0090	IND	NE	14.3	77.9	63.6	114	1.86	GDD0090: 63.6m at 1.86% Li2O from 14.3m		118.02
GDD0090	IND	NE	79.5	97.4	17.9	114	1.36	GDD0090: 17.9m at 1.37% Li2O from 79.5m		24.41
GDD0090	IND	NE	98.4	99.3	0.9	114	1.37	GDD0090: 0.9m at 1.37% Li2O from 98.4m		1.23
GDD0091	IND	NE	3	4	1	90.8	0.70	GDD0091: 1m at 0.7% Li2O from 3m		0.70
GDD0094	IND	Main	12	14	2	95.4	0.44	GDD0094: 2m at 0.44% Li2O from 12m		0.88
GDD0094	IND	Main	46	67	21	95.4	0.95	GDD0094: 21m at 0.96% Li2O from 46m		19.97
GDD0094	IND	Main	68.6	73.5	4.9	95.4	0.41	GDD0094: 4.9m at 0.41% Li2O from 68.6m		2.01
GDD0096	IND	Main	19	21	2	83.4	0.70	GDD0096: 2m at 0.7% Li2O from 19m		1.39
GDD0096	IND	Main	45	62	17	83.4	0.95	GDD0096: 17m at 0.95% Li2O from 45m		16.07
GDD0098	IND	Main	38.6	63	24.4	170.4	1.72	GDD0098: 24.4m at 1.72% Li2O from 38.6m		41.94
GDD0098	IND	Main	99.9	111.3	11.4	170.4	0.79	GDD0098: 11.4m at 0.79% Li2O from 99.9m		9.00
GDD0098	IND	Main	111.7	119.9	8.2	170.4	0.57	GDD0098: 8.2m at 0.58% Li2O from 111.7m		4.70
GDD0098	IND	Main	120.4	127.5	7.1	170.4	0.48	GDD0098: 7.1m at 0.49% Li2O from 120.4m		3.44
GDD0098	IND	Main	128.1	137.3	9.2	170.4	0.93	GDD0098: 9.2m at 0.93% Li2O from 128.1m		8.55
GDD0098	IND	Main	141.8	143.8	2	170.4	0.45	GDD0098: 2m at 0.45% Li2O from 141.8m		0.89
GDD0098	IND	Main	147.5	148.3	0.8	170.4	0.83	GDD0098: 0.8m at 0.83% Li2O from 147.5m		0.66
GRC0755	EXPL	GrassW	82	89	7	241	1.18	GRC0755: 7m at 1.19% Li2O from 82m		8.28
GRC0755	EXPL	GrassW	172	194	22	241	0.53	GRC0755: 22m at 0.53% Li2O from 172m		11.66
GRC0756	MEA	Main	17	18	1	90	0.41	GRC0756: 1m at 0.41% Li2O from 17m		0.41
GRC0756	MEA	Main	29	89	60	90	1.35	GRC0756: 60m at 1.36% Li2O from 29m		81.23
GRC0757	EXPL	NE	117	122	5	230	1.32	GRC0757: 5m at 1.32% Li2O from 117m		6.59
GRC0757	EXPL	NE	127	135	8	230	0.82	GRC0757: 8m at 0.82% Li2O from 127m		6.52
GRC0758	EXPL	GrassW	66	74	8	250	1.15	GRC0758: 8m at 1.16% Li2O from 66m		9.23
GRC0758	EXPL	GrassW	81	83	2	250	0.91	GRC0758: 2m at 0.91% Li2O from 81m		1.82
GRC0758	EXPL	GrassW	173	175	2	250	0.85	GRC0758: 2m at 0.85% Li2O from 173m		1.70
GRC0759A	EXPL	NE	114	131	17	230	1.69	GRC0759A: 17m at 1.69% Li2O from 114m		28.73
GRC0759A	EXPL	NE	148	166	18	230	1.24	GRC0759A: 18m at 1.24% Li2O from 148m		22.31
GRC0760	EXPL	NE	155	182	27	240	1.70	GRC0760: 27m at 1.71% Li2O from 155m		45.94
GRC0761	EXPL	NE	142	145	3	300	0.90	GRC0761: 3m at 0.9% Li2O from 142m		2.69
GRC0761	EXPL	NE	233	239	6	300	1.30	GRC0761: 6m at 1.31% Li2O from 233m		7.82
GRC0762	EXPL	NE	81	88	7	223	1.88	GRC0762: 7m at 1.88% Li2O from 81m		13.16
GRC0762	EXPL	NE	177	182	5	223	1.58	GRC0762: 5m at 1.58% Li2O from 177m		7.89
GRC0762	EXPL	NE	185	188	3	223	1.67	GRC0762: 3m at 1.67% Li2O from 185m		5.01
GRC0763	EXPL	NE	163	189	26	270	1.25	GRC0763: 26m at 1.26% Li2O from 163m		32.56
GRC0763	EXPL	NE	192	193	1	270	1.65	GRC0763: 1m at 1.65% Li2O from 192m		1.65
GRC0764	EXPL	KPKW	29	31	2	70		no significant intersections	weathered pegmatite
GRC0765	EXPL	KPKW	38	42	4	60		no significant intersections	weathered pegmatite
GRC0766	EXPL	NE	146	148	2	205	1.41	GRC0766: 2m at 1.41% Li2O from 146m		2.82
GRC0767	EXPL	KPKW	80	82	2	100		no significant intersections	weathered pegmatite
GRC0768	IND	KPKW	29	39	10	100		no significant intersections	weathered pegmatite
GRC0768	IND	KPKW	59	60	1	100		no significant intersections	weathered pegmatite
GRC0769	EXPL	KPKW	51	97	46	119	0.96	GRC0769: 46m at 0.96% Li2O from 51m		44.16
GRC0770	EXPL	KPKW	58	61	3	180		no significant intersections	weathered pegmatite
GRC0770	EXPL	KPKW	149	150	1	180		no significant intersections
GRC0771	EXPL	KPKW	78	82	4	170		no significant intersections	weathered pegmatite
GRC0772	EXPL	NE	181	183	2	220	0.95	GRC0772: 2m at 0.95% Li2O from 181m		1.90
GRC0773	IND	KPKW	41	43	2	60	0.45	GRC0773: 2m at 0.45% Li2O from 41m	weathered pegmatite	0.89
GRC0774	IND	KPKW	56	73	17	100		no significant intersections	weathered pegmatite
GRC0775	EXPL	KPKW	72	92	20	150	1.85	GRC0775: 20m at 1.85% Li2O from 72m		37.00
GRC0775	EXPL	KPKW	117	130	13	150	1.91	GRC0775: 13m at 1.91% Li2O from 117m		24.80
GRC0776	EXPL	NE	190	200	10	260	1.95	GRC0776: 10m at 1.96% Li2O from 190m		19.51
GRC0777	EXPL	KPKW	108	132	24	180	1.42	GRC0777: 24m at 1.43% Li2O from 108m		34.12
GRC0777	EXPL	KPKW	140	154	14	180	1.89	GRC0777: 14m at 1.89% Li2O from 140m		26.42
GRC0778	EXPL	KPKW	35	40	5	60		no significant intersections	weathered pegmatite
GRC0779	EXPL	NE	137	151	14	272	1.43	GRC0779: 14m at 1.43% Li2O from 137m		19.98
GRC0780	IND	KPKW	55	57	2	85	2.04	GRC0780: 2m at 2.04% Li2O from 55m		4.08
GRC0781	IND	KPKW	80	88	8	110	1.74	GRC0781: 8m at 1.75% Li2O from 80m		13.95
GRC0782	EXPL	KPKW	54	59	5	102		no significant intersections	weathered pegmatite
GRC0782	EXPL	KPKW	72	74	2	102		no significant intersections
GRC0782	EXPL	KPKW	79	80	1	102		no significant intersections
GRC0782	EXPL	KPKW	83	85	2	102		no significant intersections
GRC0783	EXPL	KPKW	70	71	1	100	0.66	GRC0783: 1m at 0.66% Li2O from 70m		0.66
GRC0784	EXPL	KPKW	51	53	2	76	0.64	GRC0784: 2m at 0.64% Li2O from 51m		1.27
GRC0785	EXPL	NE	111	146	35	190	1.48	GRC0785: 35m at 1.48% Li2O from 111m		51.68
GRC0786	EXPL	KPKW	70	72	2	100	1.18	GRC0786: 2m at 1.18% Li2O from 70m		2.36
GRC0787	EXPL	KPKW	90	94	4	114		no significant intersections
GRC0788	EXPL	KPKN				80		no pegmatite intercepted
GRC0789	EXPL	KPKN				120		no pegmatite intercepted
GRC0790	EXPL	NE	31	32	1	190		no significant intersections
GRC0790	EXPL	NE	130	134	4	190		no significant intersections
GRC0790	EXPL	NE	144	154	10	190		no significant intersections
GRC0791	EXPL	KPKN	108	109	1	132	1.75	GRC0791: 1m at 1.75% Li2O from 108m		1.75
GRC0792	EXPL	KPKN				170		no pegmatite intercepted
GRC0793	EXPL	NE	200	205	5	280	1.29	GRC0793: 5m at 1.29% Li2O from 200m		6.43
GRC0794	EXPL	KPKN				108		no pegmatite intercepted
GRC0795	EXPL	KPKN				90		no pegmatite intercepted
GRC0796	EXPL	Main	237	248	11	300	1.32	GRC0796: 11m at 1.33% Li2O from 237m		14.53
GRC0797	EXPL	NE				350		no pegmatite intercepted
GRC0798	EXPL	Main	243	248	5	322	1.13	GRC0798: 5m at 1.13% Li2O from 243m		5.64
GRC0798	EXPL	Main	254	267	13	322	1.16	GRC0798: 13m at 1.17% Li2O from 254m		15.09
GRC0799	EXPL	NE	182	194	12	210	0.99	GRC0799: 12m at 1% Li2O from 182m		11.92
GRC0800	EXPL	Main	263	286	23	347	1.00	GRC0800: 23m at 1.01% Li2O from 263m		23.01
GRC0800	EXPL	Main	294	296	2	347	1.21	GRC0800: 2m at 1.21% Li2O from 294m		2.41
GRC0801	EXPL	Main	246	255	9	363		no significant intersections
GRC0801	EXPL	Main	341	349	8	363		no significant intersections
GRC0802	EXPL	Main	212	219	7	350	0.90	GRC0802: 7m at 0.9% Li2O from 212m		6.28
GRC0803	EXPL	KPKN	34	37	3	100	0.95	GRC0803: 3m at 0.95% Li2O from 34m		2.84
GRC0803	EXPL	KPKN	40	45	5	100	0.92	GRC0803: 5m at 0.92% Li2O from 40m		4.58
GRC0804	EXPL	Main	2	12	10	386		no significant intersections	weathered pegmatite
GRC0804	EXPL	Main	351	368	17	386		no significant intersections
GRC0804	EXPL	Main	379	380	1	386		no significant intersections
GRC0804	EXPL	Main	385	386	1	386		no significant intersections
GRC0805	EXPL	KPKN	72	79	7	119	1.26	GRC0805: 7m at 1.26% Li2O from 72m		8.80
GRC0806	EXPL	KPKN	27	34	7	120		no significant intersections	weathered pegmatite
GRC0806	EXPL	KPKN	52	54	2	120		no significant intersections
GRC0807	EXPL	KPKN	51	56	5	110	0.83	GRC0807: 5m at 0.83% Li2O from 51m		4.13
GRC0807	EXPL	KPKN	60	61	1	110	0.40	GRC0807: 1m at 0.4% Li2O from 60m		0.40
GRC0808	EXPL	KPKN	36	42	6	80		no significant intersections	weathered pegmatite
GRC0809	EXPL	Main	256	266	10	340	0.91	GRC0809: 10m at 0.92% Li2O from 256m		9.14
GRC0810	EXPL	KPKN	67	68	1	110	1.01	GRC0810: 1m at 1.01% Li2O from 67m		1.01

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SOURCE: Atlantic Lithium Limited

View source version on accesswire.com:
https://www.accesswire.com/729159/Atlantic-Lithium-Limited-Announces-High-Grade-Drill-Results--Highest-Grade-to-Date

FAQ

What are the recent assay results from Atlantic Lithium's Ewoyaa Lithium Project?

Atlantic Lithium reported high-grade intersections, including a peak of 6.78% Li2O, from its latest drilling results at the Ewoyaa Lithium Project.

What is the projected financial performance for Atlantic Lithium's Ewoyaa Project?

The Pre-Feasibility Study indicates LOM revenues exceeding US$4.84 billion and an IRR of 224% for the Ewoyaa Lithium Project.

When will Atlantic Lithium update its resource estimate?

A resource upgrade is expected in early 2023 based on ongoing drilling results from the Ewoyaa Lithium Project.

How much drilling has Atlantic Lithium completed at the Ewoyaa Project?

Atlantic Lithium has reported results from approximately 37,000 meters of a total 47,000-meter drilling program.

What are the highlights from the latest drilling results at Ewoyaa?

Highlights include multiple high-grade intersections outside the current resource footprint, confirming the extension of mineralisation at key deposits.