Andrada Mining Limited Lithium And Tantalum Infill Drilling Update (6584O)

TIDMATM

RNS Number : 6584O

Andrada Mining Limited

02 February 2023

02 February 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Lithium And Tantalum Infill Drill Programme Update

Andrada Mining Limited, formerly Afritin Mining Limited (AIM: ATM), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, announces further results from the lithium and tantalum infill drilling programme at the Company's flagship operation, the Uis Mine ("Uis"). The programme aims to upgrade the existing lithium and tantalum 2019 Mineral Resource, stated in accordance with JORC (2012).

This update announces the results of 14 drill holes as illustrated on Figure 1. These results increase the total number of holes reported on to 49 of the 50-hole drilling programme, comprising 29 diamond and 21 reverse circulation ("RC") drill holes. The aim of the programme is to increase the confidence of the existing lithium and tantalum Mineral Resource estimates in the V1/V2 pegmatite.

Highlights:

-- Pegmatite was intersected in all holes at the depths and apparent widths, as predicted by the geological model;

-- Significant pegmatite intersections include:

o 94 m at 0.152% Sn, 66 ppm Ta and 1.18% Li(2) O for the drill hole V1V2051, from 139 m to 233 m;

o 43 m at 0.147% Sn, 92 ppm Ta and 1.08% Li(2) O, from 57 m to 100 m; and 27 m at 0.25% Sn, 60 ppm Ta and 1.09% Li(2) O from 117 m to 144 m, for the drill hole V1V2048;

o 63 m at 0.151% Sn, 79 ppm Ta and 1.43% Li(2) O for drill hole V1V2043 from 59 m to 122 m;

o 30 m at 0.141% Sn, 117 ppm Ta and 1.34% Li(2) O for drill hole V1V2035 from 82 m to 117 m.

o 35 m at 0.140% Sn, 108ppm Ta and 1.23% Li(2) O for drill hole V1V2038 from 71m to 106 m.

-- Notable intersections of lithium mineralisation within the pegmatite intersections include:

o 63 m at 1.43% Li(2) O for drill hole V1V2043 from 59 m to 122 m;

o 30 m at 1.34% Li(2) O for drill hole V1V2035 from 82m to 112 m;

o 35 m at 1.23% Li(2) O for drill hole V1V2038 from 71m to 106 m.

Anthony Viljoen (CEO) commented:

"As we continue to report on the drilling programme results, I am pleased that they further highlight the mineralisation potential of the V1/V2 pegmatite ore body. The additional 14 holes being reported on in this announcement are located in the centre of the pegmatite and show that the potential lithium, tin, and tantalum mineralisation continuing at depth. The higher lithium grades of up to 1.43% lithium oxide are particularly exciting because they further demonstrate the unrealised potential of the V1/V2 orebody and support the early development of a lithium processing plant. We look forward to providing additional information on the lithium resource through an updated Mineral Resource Estimate in the near future."

Overview of the results

The pegmatite intersections reported in this update align with the current geological model, confirming its spatial accuracy. The drill holes intersected the pegmatite at shallow depths where the V1 and V2 bodies have bifurcated into individual units, as well as at greater depths where the units coalesce into a single pegmatite, drill holes V1V2058 and V1V2080 were stopped within the pegmatite and do not represent the full intersection. The dip angle of the pegmatites varies from 24 degrees to 48 degrees and the majority of reported drill holes are orientated vertically such that the reported intersections represent apparent thickness. Holes V1V12050, V1V12051 and V1V12034 are inclined and intersected the pegmatite at approximately right angles.

Table 1 : Exploration results of Diamond Drilling holes V1V2044, V1V2050, V1V2051, V1V2052, V1V2054, V1V2037, V1V2048, V1V2058, V1V2080, V1V2043, V1V2035, V1V2040, V1V2038, and V1V2034 indicating the pegmatite intersection and pegmatite grades. Intersections are indicative of apparent thickness and not true thickness. Drill hole V1V2058 and V1V2080 ended within the pegmatite. Note that apparent thickness is greater than true thickness.

 
   Hole         Dip       Pegmatite                             From/To       Interval           Grade 
    ID         Angle                                          (m) Including      (m) 
             (Degrees)                                            Waste 
                                                                                        ---------------------- 
                                                                                          Sn       Ta     Li2O 
                                                                                          (%)     (ppm)    (%) 
                                                                                        ------  -------  ----- 
 V1V2044     Vertical                  V1/V2                     99-109          10      0.059    143     0.55 
           ------------  ---------------------------------  ---------------  ---------  ------  -------  ----- 
                V1/V2                                           112-192          82      0.159     64     0.53 
  ---------------------------------                         ---------------  ---------  ------  -------  ----- 
     V1/V2                  Whole intersection                  199-202          3       0.148     36     0.44 
  -----------  -------------------------------------------  ---------------  ---------  ------  -------  ----- 
 V1V2050       58deg          V2       Whole intersection       113-155          42      0.153     83     0.96 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
                  V1                                            163-180          17      0.195     63     1.08 
  ---------------------------------  ---------------------  ---------------  ---------  ------  -------  ----- 
 V1V2051       78deg        V1/V2      Whole intersection       139-233          94      0.152     66     1.18 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
 V1V2052     Vertical         V1       Whole intersection        39-63           24      0.158     79     0.45 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
 V1V2054     Vertical         V1       Whole intersection         9-57           48      0.143    104     0.40 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
 V1V2037     Vertical         V2       Whole intersection        39-64           25      0.143    112     1.19 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
 V1V2048     Vertical         V2       Whole intersection        57-100          43      0.147     92     1.08 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
                  V1                                            117-144          27      0.250     60     1.09 
  ---------------------------------  ---------------------  ---------------  ---------  ------  -------  ----- 
 V1V2058     Vertical         V2       Whole intersection       129-132          3       0.090    218     0.41 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
                  V2                                            137-184          47      0.162    101     0.80 
  ---------------------------------  ---------------------  ---------------  ---------  ------  -------  ----- 
 V1V2080     Vertical       V1/V2      Whole intersection       121-158          37      0.141     91     0.79 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
 V1V2043     Vertical       V1/V2      Whole intersection        43-46           3       0.111    204     0.67 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
                V1/V2                                            59-122          63      0.151     79     1.43 
  ---------------------------------  ---------------------  ---------------  ---------  ------  -------  ----- 
 V1V2035     Vertical         V2       Whole intersection        82-112          30      0.141    117     1.34 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
 V1V2040     Vertical                    V2                      55-61           6       0.131    109     0.84 
           ------------  ---------------------------------  ---------------  ---------  ------  -------  ----- 
                  V2                                             64-74           10      0.147     91     1.17 
  ---------------------------------                         ---------------  ---------  ------  -------  ----- 
       V1                   Whole intersection                   83-103          20      0.147     58     1.04 
  -----------  -------------------------------------------  ---------------  ---------  ------  -------  ----- 
 V1V2038     Vertical         V2       Whole intersection        71-106          35      0.140    108     1.23 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
 V1V2034       75deg          V2       Whole intersection       156-208          52      0.117     71     0.75 
           ------------  -----------  --------------------  ---------------  ---------  ------  -------  ----- 
 

Each drill hole was geologically logged before being sampled. The sample analysis was undertaken by UIS Analytical Services, a certified independent laboratory, using a peroxide fusion. ICP-OES analysis was utilised for major and minor elements and ICP-MS utilised for the trace elements.

Figure 1 : Map displaying the localities of the reported holes, the drill holes of the previous (2019) exploration programme and the holes from the current programme previously reported.

Line A-A' indicates the area represented by cross section (Fig.2).

Figure 2 : Section line A-A' displaying a projection of the holes drilled during the current programme for which the results are reported in this release and previous communications for this programme.

Competent Person statement

The technical data in this announcement has been reviewed by Michael Cronwright (M.Sc., FGSSA, Pr. Sci Nat. (Geological Sciences)) of CSA Global, who provides geological consulting services to Andrada. Mr Cronwright is the Principal Consultant - Battery Metals for CSA Global and has 22 years of exploration and mineral project development experience and is a Competent Person for the reporting of these exploration results. He has reviewed both the technical disclosures in this release as well as the quality assurance protocols and results for the assay campaign. Mr Cronwright consents to the release of the information contained in the announcement and is satisfied that the results of the QAQC on the assay results released to date are sufficient to support the planned estimation of Mineral Resources.

Glossary of abbreviations

 
 ICP-MS          Inductively Coupled Plasma-Mass Spectrometry 
 ICP-OES         Inductively Coupled Plasma-Optical Emission Spectrometry 
                ----------------------------------------------------------------------------------------------- 
 Li              Symbol for Lithium 
                ----------------------------------------------------------------------------------------------- 
 Li -> Li(2) O   Metal to metal-oxide conversion factor of 2.153 
                ----------------------------------------------------------------------------------------------- 
 Li(2) O         Lithium oxide 
                ----------------------------------------------------------------------------------------------- 
 JORC            The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 
                ----------------------------------------------------------------------------------------------- 
 MRE             Mineral Resource Estimate 
                ----------------------------------------------------------------------------------------------- 
 PPM             Parts Per Million 
                ----------------------------------------------------------------------------------------------- 
 QA/QC           Quality Assurance / Quality Control 
                ----------------------------------------------------------------------------------------------- 
 RC              Reverse Circulation drilling 
                ----------------------------------------------------------------------------------------------- 
 Sn              Symbol for Tin 
                ----------------------------------------------------------------------------------------------- 
 Ta              Symbol for Tantalum 
                ----------------------------------------------------------------------------------------------- 
 V1/V2           Name of the targeted pegmatite unit, V1/V2 denotes where the V1 and V2 pegmatites have merged 
                  at depth. 
                ----------------------------------------------------------------------------------------------- 
 

Glossary of technical terminology

 
 Apparent thickness   The relationship between apparent width and true thickness is based on the formula by Addie 
                       (1968 Economic Geology, vol 63, pp 188-189). 
 Dip angle            The angle of inclination measured downward from horizontal. 
                     ------------------------------------------------------------------------------------------------- 
 Geological model     The interpretation of mineralisation and geology that controls mineralisation. This is usually 
                       generated in a three-dimensional computer environment. 
                     ------------------------------------------------------------------------------------------------- 
 Mineral resources    Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, 
                       Indicated and Measured categories. An Inferred Mineral Resource has a lower level of confidence 
                       than that applied to an Indicated Mineral Resource. An Indicated Mineral Resource has a higher 
                       level of confidence than an Inferred Mineral Resource but has a lower level of confidence 
                       than a Measured Mineral Resource. 
                     ------------------------------------------------------------------------------------------------- 
 Pegmatite            An igneous rock typically of granitic composition, which is distinguished from other igneous 
                      rocks by the extremely coarse and systematically variable size of its crystals, or by an 
                      abundance 
                      of crystals with skeletal, graphic, or other strongly directional growth habits, or by a 
                      prominent 
                      spatial zonation of mineral assemblages, including monomineralic zones. 
                     ------------------------------------------------------------------------------------------------- 
 Xenolith             A foreign rock fragment (e.g., schist) within an intrusive body (e.g. pegmatite) that is 
                      unrelated 
                      to the igneous body. 
                     ------------------------------------------------------------------------------------------------- 
 
 
 Andrada Mining Limited                [phone] 
 Anthony Viljoen, CEO 
  Sakhile Ndlovu, Head of Investor 
  Relations 
 Nominated Adviser                     [phone] 
 WH Ireland Limited 
  Katy Mitchell 
 Corporate Advisor and Joint Broker 
 H&P Advisory Limited 
  Andrew Chubb 
  Jay Ashfield 
  Nilesh Patel                         [phone] 
 
   Stifel Nicolaus Europe Limited        [phone] 
 Ashton Clanfield 
  Callum Stewart 
  Varun Talwar 
 Tavistock Financial PR (United 
  Kingdom)                             [phone] 
 Emily Moss 
  Catherine Drummond 
  Adam Baynes 
 

__________________________________________________________________________________________

About Andrada Mining Limited

Andrada Mining Limited, formerly Afritin Mining Limited, is a London-listed technology metals mining company with a vision to create a portfolio of globally significant, conflict-free, production and exploration assets. The Company's flagship asset is the Uis Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.

Lithium laboratory test work completed during the 2022 calendar year indicated a high-grade, ultra-low iron lithium petalite concentrate. The test work to convert lithium petalite concentrate to battery-grade lithium hydroxide was initiated with Nagrom, a leading Australian processing company, and commercial engagements with lithium petalite concentrate off - takers are on-going.

An exploration drilling programme is currently underway with the aim of expanding the tin resource over the fourteen additional, historically mined pegmatites, all of which occur within a 5 km radius of the current processing plant. The Company has set a mineral resource target of 200 Mt to be delineated within the next 5 years. The substantial mineral resource potential allows the Company to consider economies of scale.

Andrada is managed by a board of directors with extensive industry knowledge and management team with deep commercial and technical skills. Furthermore, the Company is committed to the sustainable development of its operations and the growth of its business. This is demonstrated by how the leadership team places significant emphasis on creating value for the wider community, investors, and other key stakeholders. Andrada has established an environmental, social and governance system which has been implemented at all levels of the Company and aligns with international standards.

-END-

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

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

END

DRLNKDBQCBKDQBK

(END) Dow Jones Newswires

February 02, 2023 02:00 ET (07:00 GMT)