Atlantic Lithium Limited (AIM:ALL, OTCQX:ALLIF, ASX:A11) said initial assay results from the latest resource and exploration drilling at Ewoyaa in Ghana indicate more significant widths and lithium grades.
Around 2,208 metres (m) of infill reverse circulation drilling has been completed as part of a broader 18,500m 2023 planned drilling programme.
In a statement, Atlantic said the assays confirmed mineralisation continuity within the Ewoyaa South-2 deposit. which sits in the existing resource area, with multiple high-grade drill intersections reported.
Atlantic added that the definitive feasibility study for Ewoyaa remains on track for release at the end of this quarter (June).
It is also awaiting approval for the Mankessim licence consolidation, where the processing plant will sit, ahead of a resubmission of the mining lease application for the project.
Neil Herbert, executive chairman, said: "Results are from the Ewoyaa South-2 deposit where we are infill drilling to convert Inferred to Indicated category resources to provide optionality for future mine scheduling to more easily enable the relocation of the overhead powerlines.
"Initial infill results at the Ewoyaa South-2 deposit are encouraging and show good continuity of mineralisation between drill sections.
"We also await approval of the consolidation of the licence covering the proposed mine and processing plant site, which was undertaken to facilitate a smoother approvals process and simplified operational structure, as advised by Ghana's Minerals Commission Technical Committee.
"The company expects no further major amendments to the application, so believes that the Mining Lease will be granted for the project in the coming months.”