Andrada Mining hails bigger mineral resource estimate at Uis asset
(Alliance News) – Andrada Mining Ltd on Monday celebrated a new lithium resource grown at its flagship Uis mine, following a “significant” drilling program last year.
Andrada Mining is an African technology metals mining company with a portfolio of mining and exploration assets in Namibia.
According to the improved mineral resource estimate, the average lithium grade at Uis has now increased to 0.73% lithium oxide, from 0.63% stated in 2019. Meanwhile, total tons of lithium oxide increased by 30% to 587,000 tons.
The upgraded resource now has a lithium carbonate equivalent of 1.45 million tonnes, while measured and indicated lithium resources have increased by 47% to 38 million tonnes.
Andrada also said that the average grade of tin in Uis increased to 0.15% tin from a previous average of 0.134%, resulting in a tin metal content of 120,000 tons.
The total mineral resource estimate for the V1/V2 deposit at the mine, including mining reductions, has increased to 81 million tonnes from 72 million tonnes.
“I am very pleased to announce a new enhanced lithium resource at our Uis Mine in Namibia following a significant drilling program 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. mineralized pegmatites within 5km of the Uis processing facility,” said CEO Anthony Viljoen.
“This MRE has been delivered ahead of the commissioning of our lithium pilot plant which is due to come online on 2 2023 and is an important step in realizing additional lithium and tantalum revenue streams along with our tin production. This new resource will increase the economy 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 in Uis with the ultimate goal of repeating this process and finally expanding the resource in Uis to achieve the target exploration of 200 Mt.”
Andrada shares were trading 0.8% higher at 5.24 pence each in London on Monday afternoon.
By Holly Beveridge; Alliance News Reporter
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