(Alliance News) - Atlantic Lithium Ltd on Tuesday reported new assay results infill mineralisation at its lithium-focused Ewoyaa South-2 deposit in Ghana, inferring that other projects have greater value.
Atlantic Lithium is a Sydney-based, Africa-focused lithium exploration and development company, with assets in Ghana and Ivory Coast.
The company said it found up to 1.75% lithium oxide from 184 metres at hole GRC0928.
Executive Chair Neil Herbert said the assay results from the Ewoyaa lithium project "have returned high-grade infill and extension intersections. These include some significant apparent widths and grades from relatively shallow depths."
However, he said that the company sees greater value in deploying capital towards the systematic drilling programmes that have been proven to deliver significant value to the company.
"This will comprise further drilling for resource growth within the immediate project area, whilst continuing to grow the exploration pipeline within the broader portfolio using soil sampling, geophysics and auger drilling ahead of reverse circulation drill testing," Executive Chair Herbert added.
Atlantic Lithium shares fell 11% to 17.24 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News reporter
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