Atlantic Lithium (ALL) , an Africa-focused lithium explorer, announced a maiden feldspar Mineral Resource Estimate (MRE) of 15.7Mt at 40.2% feldspar for its flagship Ewoyaa lithium project in Ghana, West Africa. The estimate includes 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 approx. the first 5 years of planned spodumene concentrate production at Ewoyaa, as indicated by the project's Definitive Feasibility Study (DFS).
The feldspar MRE is based on the same geological model that resulted in the 35.3Mt at 1.25% Li2O MRE for the Ewoyaa project, and includes 31.1% quartz and 11.7% muscovite as additional potential by-products of spodumene concentrate production at Ewoyaa.
The maiden estimate will be incorporated into the ongoing Feldspar Definitive Feasibility Study, being undertaken to assess the viability and prospective market conditions for the production of feldspar at Ewoyaa, with results due in Q1 2024.
Neil Herbert, Executive Chairman of Atlantic Lithium, commented:
"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."
View from Vox
Atlantic Lithium has released the anticipated maiden feldspar MRE for Ewoyaa, confirming a substantial high-grade resource with 87% in the Measured and Indicated categories. The estimate represents a further derisking and value-enhancing milestone for the project as it moves closer to production. The maiden MRE was anticipated as a precursor to an upcoming feldspar feasibility study that Atlantic agreed to undertake as part of its Mining Lease agreement with the government of Ghana. Results from the study are due in Q1 2024. Later in 2024, a revised feldspar resource estimate is expected.
Feldspar is a by-product of the DMS process that Atlantic aims to supply to the Ghanaian ceramics market. An MOU recently signed with the University of Mines and Technology (UMaT) aims to evaluate the economics of producing feldspar, quartz, and muscovite as by-products of spodumene production at Ewoyaa. In addition to confirming the presence of high-grade feldspar at Ewoyaa, the MRE indicated 31.1% quartz and 11.7% muscovite mineralisation, further enhancing the project's economics.
Currently, economic data indicated by Ewoyaa's DFS does not consider the production of feldspar. Therefore, we expect further upside as future revisions of the project's economics include feldspar by-product credits. Atlantic expects to deliver an updated MRE for Ewoyaa upon completion of its current drilling programme in Q2 2024.
Atlantic has already conducted metallurgical tests and ceramic application trials, with the latter successfully producing industry-standard ware, comparable in all aspects, including contraction, water absorption, density, porosity, shape, colour and appearance. Further feldspar MRE growth is targeted through the inclusion of analysis of historic drilling samples across remaining pegmatite deposits and new drilling currently underway at Ewoyaa.
Ewoyaa is firmly on the path to production following last month's historic grant of a Mining Lease by the government of Ghana that made Atlantic the first company to be given permission to mine lithium in the country. Alongside recently extended exploration programmes, good progress is being made toward shovel readiness, with permitting well underway. Commencement of construction is targeted for late 2024, and initial production for early 2025.
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