Resource and Exploration Drilling Results

Atlantic Lithium Limited

08 August 2023

 

 

8 August 2023

Resource and Exploration Drilling Results
Drilling Returns High-grade Infill and Extensional Intersections
Ewoyaa Lithium Project Ghana, West Africa

Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, "Atlantic Lithium" or the "Company"), the African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, is pleased to announce further assay results from the resource and exploration drilling programme underway at the Ewoyaa Lithium Project ("Ewoyaa" or the "Project") in Ghana, West Africa.

Highlights:

-       Further assay results received for 5,444m of infill and exploration reverse circulation ("RC") drilling completed at Ewoyaa as part of the broader 18,500m 2023 planned drilling programme.

-       Newly reported assay results infill mineralisation at the Ewoyaa South-2 deposit, part of the 35.3 Mt @ 1.25% Li₂O Ewoyaa Mineral Resource Estimate¹ ("MRE" or the "Resource"), and extend mineralisation to depth at the Ewoyaa North-East deposit, outside of the current Resource.

-       Infill drilling designed to convert Inferred Resources to higher confidence Indicated Resources at the Ewoyaa South-2 deposit for future mine sequencing optionality and to grow the MRE where mineralisation remains open at depth or along strike.

-       Multiple high-grade drill intersections reported as downhole intercepts, with estimated true widths included in the intersections table, including highlights at a 0.4% Li₂O cut-off and a maximum 4m of internal dilution of:

o  GRC0928: 23m at 1.75% Li₂O from 184m

o  GRC0911: 15m at 1.3% Li₂O from 68m

o  GRC0911: 14m at 1.27% Li₂O from 48m

o  GRC0927: 9m at 1.57% Li₂O from 263m

o  GRC0912: 14m at 0.99% Li₂O from 6m

o  GRC0910: 11m at 1.22% Li₂O from 65m

o  GRC0914: 13m at 0.97% Li₂O from 96m

o  GRC0935: 10m at 1.22% Li₂O from 202m

o  GRC0918: 9m at 1.33% Li₂O from 94m

o  GRC0915: 11m at 0.98% Li₂O from 106m

Commenting on the Company's latest progress, Neil Herbert, Executive Chairman of Atlantic Lithium, said: 

"We are pleased to report ongoing drilling assay results across the Ewoyaa Lithium Project, which have returned high-grade infill and extension intersections. These include some significant apparent widths and grades from relatively shallow depths.

"Results are from the Ewoyaa South-2 deposit, where we are infill drilling to convert Inferred to Indicated Resources to provide optionality for future mine scheduling, and from the Ewoyaa North-East deposit, where mineralisation has been confirmed outside of the current Resource envelope and at depth.

"A total of 18,500m of infill, extensional and exploration RC drilling has been planned for 2023. These programmes are intended to grow and improve the confidence of the Ewoyaa Resource, in turn, improving the economics of the Project.

"Following the completion of the passive seismic survey over the central portion of the Ewoyaa Resource area, we have decided to demobilise the equipment, rather than extending the survey. Due to various limitations, not all known pegmatites were identified by the survey. Whilst a 10m mineralised pegmatite was intersected in drilling from one of the targets, this was the extension of a known pegmatite where mineralisation remains open at depth. 

"The survey has enhanced our knowledge of the Ewoyaa deposits and provided valuable learnings for potential future use of the technology across the Company's portfolio or new opportunities at a later date. However, at this stage, we see greater value in deploying capital towards the systematic drilling programmes that have been proven to deliver significant value to the Company to date. 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 RC drill testing.

"We look forward to updating shareholders on our ongoing progress, including as remaining assay results become available."

Figures and Tables referred to in this release can be viewed in the PDF version available via this link:

http://www.rns-pdf.londonstockexchange.com/rns/6225I_1-2023-8-8.pdf

New Drilling Results

Further assay results have been received for 5,444m of RC drilling from the ongoing infill, extensional and exploration drill programme at the Ewoyaa Lithium Project. Multiple high-grade drill intersections have been reported for infill drilling results at the Ewoyaa South-2 deposit within the current MRE¹ and the Ewoyaa North-East deposit, which currently sits outside of the current MRE¹ (refer Table 1, Appendix 1 and Appendix 2).

Drilling aims to intersect mineralised pegmatite dykes perpendicular to strike and dip to approximate true width. This is not always achieved due to the variable nature of pegmatites or challenging drill access, with some drill intersections drilled down-dip as apparent widths. Accordingly, estimated true widths are included in the intersections table in Appendix 1.

Table 1:     Drill intersection highlights at greater than 5 li x m, reported at a 0.4% Li₂O cut-off and maximum of 4m of internal dilution

http://www.rns-pdf.londonstockexchange.com/rns/6225I_1-2023-8-8.pdf

Note: Metal content is based on intercept rather than estimated true width

Infill drilling results confirm further mineralisation at the Ewoyaa South-2 deposit where multiple drilling intersections are reported over significant apparent widths and relatively shallow depths (refer Figure 1 and Figure 2).

Extensional drilling results at the Ewoyaa North-East deposit confirm mineralisation extensions outside of the current Resource envelope and remains open at depth (refer Figure 1 and Figure 3).

Drilling is designed to infill the Ewoyaa South-2 deposit to convert mineralisation from the Inferred to Indicated category. Approximately 3,000m of infill drilling has been planned at the Ewoyaa South-2 deposit, with a further 7,000m of resource extensional drilling planned at the Ewoyaa Main, Ewoyaa North-east and Kaampakrom deposits. A further 6,500m of exploration drilling and 2,000m of diamond core ("DD") drilling is planned as part of the 2023 field season (refer announcement of 19 April 2023).

Sample preparation was completed by Intertek Ghana and assay by Intertek Perth, with all reported results passing QA/QC protocols, providing confidence in reported results.

Figure 1:   Location of reported assay results with highlight drill intersections

Figure 2:   Cross-section A-A' showing assay results received for GRC0910 and GRC0911 at the Ewoyaa South-2 deposit

Figure 3:   Cross-section B-B' showing assay results received for GRC0928 and GRC0929 at the Ewoyaa North-East deposit

Passive Seismic Survey

The Company completed a passive seismic ambient noise tomography ("ANT") survey over the immediate Ewoyaa MRE¹ footprint to test the potential for concealed pegmatites (refer announcement of 19 April 2023). The trial, covering 1.8km² within the central portion of the Ewoyaa Resource area, is the first time the technology has been used in Ghana.

Due to the steep dipping nature of the Ewoyaa pegmatites and narrow velocity contrast between the pegmatite and host lithologies over the Resource, the survey encountered limitations on targets less than 20m true thickness and, accordingly, did not identify all of the known pegmatites within the survey area, in particular, the east-west trending Abonko pegmatites and areas along the boundary of the survey due to edge effects.

Eight shallow targets were identified by the survey, with follow-up drill testing completed. Mineralisation, however, was only intersected as depth extensions of the known Okwesikrom South deposit (GRC0935: 10m at 1.22% Li₂O from 202m), with barren pegmatite intersected (assays pending) in one target along the western margin of the Ewoyaa Main deposit and no significant pegmatite intersections in the remaining six targets drill tested.

Deeper targets were identified beyond the depth limitation of the drill rig on site but have not been tested at this stage due to their depth and the Company's belief that there is greater value in drilling strike extensions of the known resource or potential near surface exploration targets within the Project footprint.

While providing useful additional data to better understand parts of the Ewoyaa Resource, the results of the survey and drill testing, in addition to the cost of retaining the equipment on site, resulted in the decision to demobilise the equipment at this stage.

While the Company may revisit ANT surveying at a later stage, the Company intends to instead allocate the capital in the shorter term towards systematic and calculated drilling programmes of shallow targets which has been proven to deliver significant value to the Company to date.

End note

¹ Ore Reserves, Mineral Resources and Production Targets

The information in this announcement that relates to Ore Reserves, Mineral Resources and Production Targets complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). The information in this announcement relating to the Mineral Resource Estimate ("MRE") of 35.3 Mt @ 1.25% Li₂O for Ewoyaa is extracted from the Company's announcement dated 1 February 2023, which is available at atlanticlithium.com.au. The MRE includes a total of 3.5 Mt @ 1.37% Li₂O in the Measured category, 24.5 Mt @ 1.25% Li₂O in the Indicated category and 7.4 Mt @ 1.16% Li₂O in the Inferred category. The Company confirms that all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed, and it is not aware of any new information or data that materially affects the information included in this announcement or the announcement dated 1 February 2023.

Competent Persons

Information in this report relating to the exploration results is based on data reviewed by Mr Lennard Kolff (MEcon. Geol., BSc. Hons ARSM), Chief Geologist of the Company. Mr Kolff is a Member of the Australian Institute of Geoscientists who has in excess of 20 years' experience in mineral exploration and is a Qualified Person under the AIM Rules. Mr Kolff consents to the inclusion of the information in the form and context in which it appears.

Information in this report relating to Mineral Resources was compiled by Shaun Searle, a Member of the Australian Institute of Geoscientists.  Mr Searle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Searle is a director of Ashmore. Ashmore and the Competent Person are independent of the Company and other than being paid fees for services in compiling this report, neither has any financial interest (direct or contingent) in the Company. Mr Searle consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

The reported Ore Reserves have been compiled by Mr Harry Warries.  Mr Warries is a Fellow of the Australasian Institute of Mining and Metallurgy and an employee of Mining Focus Consultants Pty Ltd.  He has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the 'Australasian Code for Reporting of Mineral Resources and Ore Reserves' of December 2012 ("JORC Code") as prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia.  Mr Warries gives Atlantic Lithium Limited consent to use this reserve estimate in reports.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For any further information, please contact:

Atlantic Lithium Limited

Neil Herbert (Executive Chairman)

Amanda Harsas (Finance Director and Company Secretary)

	www.atlanticlithium.com.au
	[e-mail]
	Tel: [phone]

SP Angel Corporate Finance LLP Nominated Adviser Jeff Keating Charlie Bouverat Tel: [phone]

Yellow Jersey PR Limited Charles Goodwin Bessie Elliot [e-mail] Tel: [phone]

Canaccord Genuity Limited Company Broker Raj Khatri / James Asensio Harry Rees Tel: [phone]

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

Atlantic Lithium is an AIM and ASX-listed lithium company advancing a portfolio of lithium projects in Ghana and Côte d'Ivoire through to production.

The Company's flagship project, the Ewoyaa Project in Ghana, is a significant lithium spodumene pegmatite discovery on track to become Ghana's first lithium-producing mine. The Company signed a funding agreement with Piedmont Lithium Inc. towards the development of the Ewoyaa Project. Atlantic Lithium is currently advancing the Ewoyaa Project through feasibility studies and intends to be producing a spodumene concentrate via simple gravity only process flowsheet.

Atlantic Lithium holds 560km² and 774km² of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licences.

Appendix 1        New drill intersections reported in hole ID order, reported at a 0.4% Li₂O cut-off and maximum 4m of internal dilution

http://www.rns-pdf.londonstockexchange.com/rns/6225I_1-2023-8-8.pdf
Note 1: Metal content is based on intercept rather than estimated true width

Note 2: Estimated true width only included for mineralised intersections greater than 4m

Appendix 2        Newly reported drill hole collar locations

http://www.rns-pdf.londonstockexchange.com/rns/6225I_1-2023-8-8.pdf

Note: Grid references reported in projection UTM, WGS84, Zone 30N

The following extract from the JORC Code 2012 Table 1 is provided for compliance with the Code requirements for the reporting of Exploration Results.

JORC Code Table 1:  Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections).

Criteria	JORC Code Explanation	Commentary
Sampling techniques	·      Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. ·      Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. ·      Aspects of the determination of mineralisation that are Material to the Public Report. ·      In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1m samples from which 3kg was pulverised to produce a 30g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	·      RC drill holes were routinely sampled at 1m intervals with a nominal 3-6kg sub-sample split off for assay using a rig-mounted cone splitter at 1m intervals.   ·      DD holes were quarter core sampled at 1m intervals or to geological contacts for geochemical analysis. ·      For assaying, splits from all prospective ore zones (i.e. logged pegmatites +/- interburden) were sent for assay.  Outside of these zones, the splits were composited to 4m using a portable riffle splitter. ·      Holes without pegmatite were not assayed. ·      Approximately 5% of all samples submitted were standards and coarse blanks. Blanks were typically inserted with the interpreted ore zones after the drilling was completed. ·      Approximately 2.5% of samples submitted were duplicate samples collected after logging using a riffle splitter and sent to an umpire laboratory. This ensured zones of interest were duplicated and not missed during alternative routine splitting of the primary sample. ·      Prior to the December 2018 - SGS Tarkwa was used for sample preparation (PRP100) and subsequently forwarded to SGS Johannesburg for analysis; and later SGS Vancouver for analysis (ICP90A). ·      Post December 2018 to present - Intertek Tarkwa was used for sample preparation (SP02/SP12) and subsequently forwarded to Intertek Perth for analysis (FP6/MS/OES - 21 element combination Na2O2 fusion with combination OES/MS). ·      ALS Laboratory in Brisbane was used for the Company's initial due diligence work programs and was selected as the umpire laboratory since Phase 1. ALS conducts ME-ICP89, with a Sodium Peroxide Fusion.  Detection limits for lithium are 0.01-10%. Sodium Peroxide fusion is considered a "total" assay technique for lithium. In addition, 22 additional elements assayed with Na2O2 fusion, and combination MS/ICP analysis.

Criteria	JORC Code Explanation	Commentary
Drilling techniques	·      Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	·      Six phases of drilling were undertaken at the Project using RC and DD techniques.  All the RC drilling used face sampling hammers. ·      Phase 1 and 2 programs used a 5.25 inch hammers while Phase 3 used a 5.75-inch hammer. ·      All DD holes were completed using PQ and HQ core from surface (85mm and 63.5mm). ·      All DD holes were drilled in conjunction with a Reflex ACT II tool; to provide an accurate determination of the bottom-of-hole orientation. ·      All fresh core was orientated to allow for geological, structural and geotechnical logging by a Company geologist.
Drill sample recovery	·      Method of recording and assessing core and chip sample recoveries and results assessed. ·      Measures taken to maximise sample recovery and ensure representative nature of the samples. ·      Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	·      A semi-quantitative estimate of sample recovery was completed for the vast majority of drilling.  This involved weighing both the bulk samples and splits and calculating theoretical recoveries using assumed densities. Where samples were not weighed, qualitative descriptions of the sample size were recorded.  Some sample loss was recorded in the collaring of the RC drill holes. ·      DD recoveries were measured and recorded.  Recoveries in excess of 95.8% have been achieved for the DD drilling program. Drill sample recovery and quality is adequate for the drilling technique employed. ·      The DD twin program has identified a positive grade bias for iron in the RC compared to the DD results.
Logging	·      Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. ·      Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. ·      The total length and percentage of the relevant intersections logged.	·      All drill sample intervals were geologically logged by Company geologists. ·      Where appropriate, geological logging recorded the abundance of specific minerals, rock types and weathering using a standardised logging system that captured preliminary metallurgical domains. ·      All logging is qualitative, except for the systematic collection of magnetic susceptibility data which could be considered semi quantitative. ·      Strip logs have been generated for each drill hole to cross-check geochemical data with geological logging. ·      A small sample of washed RC drill material was retained in chip trays for future reference and validation of geological logging, and sample reject materials from the laboratory are stored at the Company's field office. ·      All drill holes have been logged and reviewed by Company technical staff. ·      The logging is of sufficient detail to support the current reporting of a Mineral Resource.

Criteria	JORC Code Explanation	Commentary
Sub-sampling techniques and sample preparation	·      If core, whether cut or sawn and whether quarter, half or all core taken. ·      If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. ·      For all sample types, the nature, quality and appropriateness of the sample preparation technique. ·      Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. ·      Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. ·      Whether sample sizes are appropriate to the grain size of the material being sampled.	·      RC samples were cone split at the drill rig.  For interpreted waste zones the 1 or 2m rig splits were later composited using a riffle splitter into 4m composite samples. ·      DD core was cut with a core saw and selected half core samples dispatched to Nagrom Laboratory in Perth for preliminary metallurgical test work.  ·      The other half of the core, including the bottom-of-hole orientation line, was retained for geological reference. ·      The remaining DD core was quarter cored for geochemical analysis. ·      Since December 2018, samples were submitted to Intertek Tarkwa (SP02/SP12) for sample preparation. Samples were weighed, dried and crushed to -2mm in a Boyd crusher with an 800-1,200g rotary split, producing a nominal 1,500g split crushed sample; which was subsequently pulverised in a LM2 ring mill.  Samples were pulverised to a nominal 85% passing 75µm.  All the preparation equipment was flushed with barren material prior to the commencement of the job.  Coarse reject material was kept in the original bag.  Lab sizing analysis was undertaken on a nominal 1:25 basis. Final pulverised samples (20g) were airfreighted to Intertek in Perth for assaying. ·      The vast majority of samples were drilled dry. Moisture content was logged qualitatively.  All intersections of the water table were recorded in the database. ·      Field sample duplicates were taken to evaluate whether samples were representative and understand repeatability, with good repeatability. ·      Sample sizes and laboratory preparation techniques were appropriate and industry standard.
Quality of assay data and laboratory tests	·      The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. ·      For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. ·      Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	·      Analysis for lithium and a suite of other elements for Phase 1 drilling was undertaken at SGS Johannesburg / Vancouver by ICP-OES after Sodium Peroxide Fusion. Detection limits for lithium (10ppm - 100,000ppm). Sodium Peroxide fusion is considered a "total" assay technique for lithium. ·      Review of standards and blanks from the initial submission to Johannesburg identified failures (multiple standards reporting outside control limits). A decision was made to resubmit this batch and all subsequent batches to SGS Vancouver - a laboratory considered to have more experience with this method of analysis and sample type. ·      Results of analyses for field sample duplicates are consistent with the style of mineralisation and considered to be representative. Internal laboratory QAQC checks are reported by the laboratory, including sizing analysis to monitor preparation and internal laboratory QA/QC. These were reviewed and retained in the company drill hole database. ·      155 samples were sent to an umpire laboratory (ALS) and/assayed using equivalent techniques, with results demonstrating good repeatability. ·      Atlantic Lithium's review of QAQC suggests the SGS Vancouver and Intertek Perth laboratories performed within acceptable limits. ·      No geophysical methods or hand-held XRF units have been used for determination of grades in the Mineral Resource.

Criteria	JORC Code Explanation	Commentary
Verification of sampling and assaying	·      The verification of significant intersections by either independent or alternative company personnel. ·      The use of twinned holes. ·      Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. ·      Discuss any adjustment to assay data.	·      Significant intersections were visually field verified by company geologists and Shaun Searle of Ashmore during the 2019 site visit. ·      Drill hole data was compiled and digitally captured by Company geologists in the field. Where hand-written information was recorded, all hardcopy records were kept and archived after digitising. ·      Phase 1 and 2 drilling programs were captured on paper or locked excel templates and migrated to an MS Access database and then into Datashed (industry standard drill hole database management software).  The Phase 3 to 6 programs were captured using LogChief which has inbuilt data validation protocols.  All analytical results were transferred digitally and loaded into the database by a Datashed consultant. ·      The data was audited, and any discrepancies checked by the Company personnel before being updated in the database. ·      Twin DD holes were drilled to verify results of the RC drilling programs. Results indicate that there is iron contamination in the RC drilling process. ·      Reported drill hole intercepts were compiled by the Chief Geologist. ·      Adjustments to the original assay data included converting Li ppm to Li2O%.
Location of data points	·      Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. ·      Specification of the grid system used. ·      Quality and adequacy of topographic control.	·      The collar locations were surveyed in WGS84 Zone 30 North using DGPS survey equipment, which is accurate to 0.11mm in both horizontal and vertical directions.  All holes were surveyed by qualified surveyors.  Once validated, the survey data was uploaded into Datashed. ·      RC drill holes were routinely down hole surveyed every 6m using a combination of EZ TRAC 1.5 (single shot) and Reflex Gyroscopic tools.  ·      After the tenth drill hole, the survey method was changed to Reflex Gyro survey with 6m down hole data points measured during an end-of-hole survey. ·      All Phase 2 and 3 drill holes were surveyed initially using the Reflex Gyro tool, but later using the more efficient Reflex SPRINT tool. Phase 4 and 5 drill holes were surveyed using a Reflex SPRINT tool. ·      LiDAR survey Southern Mapping to produce rectified colour images and a digital terrain model (DTM) 32km2, Aircraft C206 aircraft-mounted LiDAR Riegl Q780 Camera Hasselblad H5Dc with 50mm Fixfocus lens. ·      Coordinate system: WGS84 UTM30N with accuracy to ±0.04. ·      The topographic survey and photo mosaic output from the survey is accurate to 20mm. ·      Locational accuracy at collar and down the drill hole is considered appropriate for resource estimation purposes.
Data spacing and distribution	·      Data spacing for reporting of Exploration Results. ·      Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. ·      Whether sample compositing has been applied.	·      The RC holes were initially drilled on 100m spaced sections and 50m hole spacings orientated at 300° or 330° with dips ranging from -50° to -60°. Planned hole orientations/dips were occasionally adjusted due to pad and/or access constraints. ·      Hole spacing was reduced to predominantly 40m spaced sections and 40m hole spacings, with infill to 20m by 15m in the upper portions of the Ewoyaa Main deposit. Holes are generally angled perpendicular to interpreted mineralisation orientations at the Project. ·      Samples were composited to 1m intervals prior to estimation.
Orientation of data in relation to geological structure	·      Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. ·      If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	·      The drill line and drill hole orientation are oriented as close as practicable to perpendicular to the orientation of the general mineralised orientation. ·      Most of the drilling intersects the mineralisation at close to 90 degrees ensuring intersections are representative of true widths. It is possible that new geological interpretations and/or infill drilling requirements may result in changes to drill orientations on future programs. ·      No orientation based sampling bias has been identified in the data.
Sample security	·      The measures taken to ensure sample security.	·      Samples were stored on site prior to road transportation by Company personnel to the SGS preparation laboratory. ·      With the change of laboratory to Intertek, samples were picked up by the contractor and transported to the sample preparation facility in Tarkwa.
Audits or reviews	·      The results of any audits or reviews of sampling techniques and data.	·      Prior to the drilling program, a third-party Project review was completed by an independent consultant experienced with the style of mineralisation. ·      In addition, Shaun Searle of Ashmore reviewed drilling and sampling procedures during the 2019 site visit and found that all procedures and practices conform to industry standards.

'JORC Code 2012 Table 1' Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section).

Criteria	JORC Code Explanation	Commentary
Mineral tenement and land tenure status	·      Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. ·      The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	·      The Project covers two contiguous licences the Mankessim (RL 3/55) and Mankessim South (PL3/109) licence. ·      The Mankessim is a joint-venture, with the license in the name of the joint-venture party (Barari Development Ghana Limited). Document number: 0853652-18. ·      The Project occurs within a Mineral Prospecting license and was renewed on the 27th July 2021 for a further three-year period, valid until 27th July 2024. ·      The Mankessim South licence is a wholly-owned subsidiary of Green Metals Resources.  The Mineral Prospecting license renewal was submitted in Nov 2022 for a further three-year period. ·      The tenement is in good standing with no known impediments.
Exploration done by other parties	·      Acknowledgment and appraisal of exploration by other parties.	·      Historical trenching and mapping were completed by the Ghana Geological survey during the 1960's.  But for some poorly referenced historical maps, none of the technical data from this work was located. Many of the historical trenches were located, cleaned and re-logged. No historical drilling was completed.
Geology	·      Deposit type, geological setting and style of mineralisation.	·      Pegmatite-hosted lithium deposits are the target for exploration. This style of mineralisation typically forms as dykes and sills intruding or in proximity to granite source rocks. ·      Surface geology within the Project area typically consists of sequences of staurolite and garnet-bearing pelitic schist and granite with lesser pegmatite and mafic intrusives. Outcrops are typically sparse and confined to ridge tops with colluvium and mottled laterite blanketing much of the undulating terrain making geological mapping challenging.  The hills are often separated by broad, sandy drainages.
Drillhole Information	·      A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: ·      easting and northing of the drill hole collar ·      elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar ·      dip and azimuth of the hole ·      downhole length and interception depth ·      hole length ·      If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	·      No exploration results are being reported. ·      All information was included in the appendices (of the Mineral Resource report). No drill hole information were excluded (from the Mineral Resource report).

Criteria	JORC Code Explanation	Commentary
Data aggregation methods	·      In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. ·      Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. ·      The assumptions used for any reporting of metal equivalent values should be clearly stated.	·      Exploration results are not being reported. ·      Not applicable as a Mineral Resource is being reported. ·      No metal equivalent values are being reported.
Relationship between mineralisation widths and intercept lengths	·      These relationships are particularly important in the reporting of Exploration Results. ·      If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. ·      If it is not known and only the downhole lengths are reported, there should be a clear statement to this effect (e.g. 'downhole length, true width not known').	·      The drill line and drill hole orientation are oriented as close to 90° degrees to the orientation of the anticipated mineralised orientation as practicable. ·      The majority of the drilling intersects the mineralisation between 60° and 80° degrees.
Diagrams	·      Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to, a plan view of drill hole collar locations and appropriate sectional views.	·      Relevant diagrams have been included within the Mineral Resource report 'Ewoyaa Lithium Project Mineral Resource Estimate' dated 25 March 2023.
Balanced reporting	·      Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	·      All hole collars were surveyed WGS84 Zone 30 North grid using a differential GPS. All RC and DD holes were down-hole surveyed with a north-seeking gyroscopic tool. ·      Exploration results are not being reported.
Other substantive exploration data	·      Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	·      Results were estimated from drill hole assay data, with geological logging used to aid interpretation of mineralised contact positions. ·      Geological observations are included in the report.
Further work	·      The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). ·      Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	·      Follow up RC and DD drilling may be undertaken.  ·      Further metallurgical test work may be required as the Project progresses through the study stages.  ·      Drill spacing is currently considered adequate for the current level of interrogation of the Project.

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