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
Ewoyaa has probable reserves of 25.6-million tonnes grading 1.22% lithium oxide. Total mineral resources are estimated at 35.3-million tonnes grading 1.25% lithium oxide.

Over the 12-year life-of-mine (LoM), 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 are targeted for the second quarter of 2025.

Latest Developments
Atlantic Lithium's Ghanaian subsidiary Green Metals Resources has been granted the Bewadze and Senya Beraku prospecting licences in the eastern portion of Atlantic's Cape Coast lithium portfolio, which also holds the company's flagship Ewoyaa project.

The licences provides Atlantic with exclusive access to explore new, undrilled tenure, offering significant potential to further enhance the Ewoyaa project, for which the  Atlantic was awarded a mining lease in October.

The licence is situated along strike and within only 300 m of the historic Egyasimanku Hill occurrence where spodumene pegmatites have been observed. This, when considered alongside the radiometrics anomaly that runs into the licence, offers encouraging potential for mineralisation.

“With little modern exploration carried out across the licence to date, we are eager to get on the ground and commence an extensive work programme," Atlantic chairperson Neil Herbert has said.

He has added that no previous exploration has been completed at Senya Beraku, where north-east-trending younger granitoids intrude gneisses and biotite schists in a similar orientation to the Egyasimanku Hill spodumene pegmatite occurrence, located within 20 km of the licence.

Further, Bewadze and Senya Beraku also benefit from existing infrastructure, including operational high-voltage transmission lines and the adjacent N1 highway, providing direct access to the Ewoyaa project.

Subject to the success of its exploration efforts, Atlantic hopes that it will be able to incorporate the licences into the Ewoyaa project footprint to further enhance the economics of the project.

Atlantic has several licences still under application and hopes that they are granted in the near term, which will further assist the company in expanding the Ewoyaa’s current resource.

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.