Andrada Mining Ltd on Monday celebrated a new enlarged lithium resource at its flagship Uis Mine, following a ‘significant’ drilling programme last year.
Andrada Mining is an African technology metals mining company with a portfolio of mining and exploration assets in Namibia.
According to the upgraded mineral resource estimate, the lithium average grade at Uis has now increased to 0.73% lithium oxide, from 0.63% declared in 2019. Meanwhile, total contained lithium oxide tonnes increased by 30% to 587,000 tonnes.
The updated resource now has a lithium carbonate equivalent of 1.45 million tonnes, while the measured and indicated lithium resources have increased by 47% to 38 million tonnes.
Andrada also said the tin average grade at Uis has increased to 0.15% tin from a previous average of 0.134%, resulting in a contained tin metal content of 120,000 tonnes.
The total mineral resource estimate for the V1/V2 deposit at the mine, inclusive of mining depletion, has increased to 81 million tonnes from 72 million tonnes.
‘I am very pleased to announce a new enlarged lithium resource at our Uis Mine in Namibia following significant drilling programme in 2022. This confirms our belief that Uis is a globally significant lithium and tin resource that remains open at depth and is one of over 180 mineralised pegmatites within 5km of the Uis processing facility,’ said Chief Executive Officer Anthony Viljoen.
‘This MRE has been delivered ahead of our lithium pilot plant commissioning which is due to come online in Q2 2023 and is an important step to realise the additional lithium and tantalum revenue streams alongside our tin production. This new resource will increase the economics for Andrada and will form the basis for the next phase of expansion and growth for the Uis mine. The next phase of exploration will investigate the other proximal pegmatites at Uis with the end goal of repeating this process and ultimately expand the resource at Uis to achieve the exploration target of 200 Mt.’
Andrada shares were trading 0.8% higher at 5.24 pence each in London on Monday afternoon.
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