Name of the Project
Ewoyaa lithium project.

Location
Ghana.

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

Project Description
The project includes the Ewoyaa, Ewoyaa Northeast, Abonko, Anokyi, Grasscutter, Kaampakrom, Bypass, Sill and Okwesi deposits.

An updated scoping study, published in December 2021, has retained the business case for a two-million-tonne-a-year lithium operation at the project.

The updated study has increased the project’s life-of-mine operations to more than 11 years, producing an average 300 000 t/y of 6% lithium oxide spodumene concentrate.

In addition to spodumene production, the study has incorporated two additional revenue streams – a saleable direct shipping ore fines product and a saleable feldspar by-product.

The project proposes a contract mining operation, semimobile contract crushing facility and fixed conventional dense-media separation processing facility for spodumene concentration.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $789-million and an internal rate of return of 194%, with a payback of less than a year.

Capital Expenditure
$70-million.

Planned Start/End Date
Not stated.

Latest Developments
Atlantic Lithium has received assay results for an additional 4 000 m of reverse circulation (RC) drilling completed at the Ewoyaa Main and Grasscutter North.

Broad, high-grade drill intersections returned at the Ewoyaa Main deposit include a 46 m intersection at 1.21% lithium oxide from 115 m; 43 m at 1.08% lithium oxide from 126 m; 31 m at 1.43% lithium oxide from 179 m; and 10 m at 1.39% lithium oxide from 112 m, with mineralisation open at depth and further assays pending.

The company said on July 19 that the newly reported drilling results fell outside the 2012 Joint Ore Reserves Committee- (Jorc-) compliant mineral resource estimate and extended the mineralisation a further 75 m downdip at the Ewoyaa Main deposit, providing confidence in future resource growth potential.

“Our ongoing exploration programme demonstrates considerable scope for resource growth and the potential for an extended mine life beyond the metrics of the scoping study. This, in conjunction with further economic benefits from increased spodumene concentrate pricing, continue to demonstrate Ewoyaa as an industry-leading asset,” Atlantic Lithium interim CEO Lennard Kolff  has said.

He has noted that, with the prefeasibility study targeted for completion in the third quarter and the project being funded to production through an agreement with Piedmont Lithium, Atlantic is positioned to benefit from growing lithium demand.

Key Contracts, Suppliers and Consultants
Ashmore Advisory (resource modelling); Mining Focus Consultants (pit optimisation and mine scheduling); NAGROM (beneficiation testwork); ANSTO (conversion testwork); Trinol (process interpretation and design); Zivvo and Trinol (operating and capital costs, and cash flow modelling); Primero (site layouts); and First Test Minerals (industrial mineral marketing).

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