Name of the Project
Ewoyaa lithium project.

Location
Ghana.

Project Owner/s
Aim-listed lithium explorer and developer Atlantic Minerals. Piedmont has an earn-in right of 50% of Atlantic’s Ghanaian projects, including Ewoyaa, and the company holds a 10% equity interest in lithium explorer Atlantic Lithium.

Project Description
Over the 12-year life-of-mine, the project is expected to produce 3.58-million tonnes a year of 6% and 5.5% spodumene concentrate, as well as 4.7-million tonnes of secondary product as a by-product of dense-media separation (DMS).

Development involves the opencut mining of several lithium-bearing pegmatite deposits, conventional DMS processing and supporting infrastructure.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $1.5-billion and an internal rate of return of 105%, with a payback of 19 months.

Capital Expenditure
$185-million.

Planned Start/End Date
Production of spodumene concentrate and secondary product is targeted for the second quarter of 2025.

Latest Developments
Atlantic Lithium has reported that initial assay results from the drilling completed so far this year at its Ewoyaa project, have delivered impressive intersections, providing confidence in the growth potential of the current 35.3-million-tonne lithium oxide resource.

These results are from the new Dog-Leg target, located on the northern tip of the Ewoyaa Main deposit, outside of the current mineral resource estimate (MRE), where drilling has returned multiple high-grade and broad near-surface extensional intersections, including 27 m at 1.85% lithium oxide from 126 m in these most recent results.

Assay results have been received for 4 101 m of resource extension and sterilisation reverse circulation (RC) drilling completed so far this year.

The results include 924 m of resource extension drilling at the Dog-Leg target and 3 177 m of sterilisation drilling at the proposed plant site.

The high-grade extensional drilling results have been reported at the new Dog-Leg target. The reported results are outside of the current MRE.

The drilling is designed to intersect pegmatite bodies perpendicular to strike and dip to approximate true width as best possible, adding that this is not always achieved, owing to the variable nature of pegmatites or challenging drill access, with some drill intersections drilled down-dip as apparent widths.

Atlantic Lithium also notes that an MRE upgrade, for both lithium and feldspar, to incorporate all drilling completed in 2023 and so far in 2024, is now targeted for midyear.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Atlantic Minerals, tel +61 2 8072 0640 or email info@atlanticlithium.com.au.