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ADU ReVIeW

Atlantic heads down under

hana’s first ever lithium pegmatite dis- A PFS is also due out imminently, build-
Gcovery is heading to the ASX. ing on the findings of last year’s scoping
At the time of print, Atlantic Lithium Ltd study which was based on a 21.3mt @
was scheduled to join the Australian bourse 1.31% lithium resource and conservative
on September 26 in a move which interim $US900/t SC6 pricing.
chief executive Len Kolff predicted would SC6 spot prices last month were com-
deliver the company an immediate re-rat- fortably above $US6,000/t.
ing. “The PFS will be a step up from the scop-
Speaking at Africa Down Under, Kolff ing study we announced in December last
said a secondary listing was necessary for year, in that it’s going to be based on a
Atlantic because the Ewoyaa lithium project larger resource, roughly 10mt larger than
in Ghana was not receiving adequate valu- the resource used for the scoping study,”
ation from the London market. Kolff said.
“We are listed on AIM at the moment and “It will also be based on improved pro-
that goes back to the original IPO and the cessing. We demonstrated in the recent Len Kolff
iron ore story we had previously,” Kolff said. metallurgical test work that we’re able to velopment prospect because all of the
“We believe we’re undervalued on AIM produce a spodumene concentrate through lithium credits were hosted in spodumene.
and there’s a much stronger understanding a coarser 10mm crush, as opposed to the “It’s very coarse grain spodumene, which
of lithium – and especially hard rock lithium 6.3mm crush assumed for the scoping means we can easily produce an SC6
– stories here on the ASX. We believe there study.” product through a simple crush and gravity
will be a strong re-rate coming on to the Atlantic also boasts a lucrative partner- early process flowsheet,” he said.
ASX, and hence why we’re pushing for that ship with ASX-listed US-based developer “We don’t need to go to flotation which
dual listing.” Piedmont Lithium Ltd which is providing will have much higher capex and opex be-
Ewoyaa, about 110km from the operating up to $US103 million of funding, including cause you’re having to grind all of that peg-
deep seaport of Takoradi and within 1km some $US70 million towards the capex for matite into a fine powder to beneficiate the
of the national highway, currently boasts a what will potentially be Ghana’s first lithium lithium credits.”
30.1mt @ 1.26% lithium resource which is mine. Piedmont also has the right to 50% of
set for a further upgrade before the end of future offtake. – Michael Washbourne
the year. Kolff said Ewoyaa was an attractive de-

Mako’s we plan to drill at depth,” he said. “We think include 1m @ 30.47 g/t gold and 9m @ 3.26

g/t.
this is a company-maker for Mako.”
Napie’s maiden resource only accounted Mako plans to drill on all of Napie’s pros-
deep sea for 13% of the project’s prospective ground pects following Cote D’Ivoire’s wet season,
and 93% of the resource was taken from
with ambitions of achieving a multi-million
within 150m of surface.
“Gogbala and Tchaga are just the begin-
“The average depth of recent deposits in ounce resource.
hunger West Africa is about 300m,” Ledwidge ex- ning,” Ledwidge added. “That really demon-
plained. “And the deeper we go, the better
strates the longer term growth on a regional
the grade gets.”
But targets at Gogbala remain the most
From depths past 150m, drill hits at Tcha- scale.”
fter smashing expectations in June with ga and Gogbala have averaged 1.38 g/t gold economic plan for proving up the project’s
Aa 22.5mt @ 1.2 g/t maiden resource, and 1.9 g/t, respectively. One particular hit at resource, according to Ledwidge.
Mako Gold Ltd managing director Peter Led- Tchaga achieved a peak result of 19m @ 4 “[Gogbala is] where we’re going to get the
widge is looking to swim deeper at the Napie g/t gold. cheapest ounces to grow a resource quick-
project in Cote D’Ivoire. “We’re going to drill a hole underneath ly,” he said.
“People were expecting anywhere from that…behind that and in front of that,” Led-
500,000-700,000oz, we came up with widge said. “We think that’s pretty easy – Fraser Palamara
868,000oz and lots of room to grow on ounces to add to the resource.”
there,” Ledwidge told delegates at Africa Meanwhile at Gogbala, Ledwidge said the
Down Under. easy-to-read geology made simple pickings
Napie’s impressive debut resource was for growing the prospect he creatively calls
taken from the Tchaga and Gogbala pros- “New Zealand”, due to its north and south
pects. Although there is significant minerali- portions.
sation to chase at other prospects such as “On the northern part, we’ve got some
Tchaga North and Komboro, Ledwidge is high-grade coming right up to that gap,” he
convinced there’s enough at depth to keep said. “Pretty easy target, even first-year ge-
the company busy before moving on. ologists could pick that to grow the resource.”
“Our resource strategy is to grow primarily Elsewhere on the project’s 30km shear,
at Gogbala, we’ve just barely touched that; recent drill hits from the Komboro prospect

Page 56 OCTOBeR 2022 aUSTRaLIa’S PaYDIRT Peter Ledwidge