Final Results for Initial ML133 Drill Programme

18 September 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information will be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Final Results for the Initial Drill Programme on ML133 ("Lithium Ridge")

Lithium intersections persist along strike with spodumene and petalite as primary minerals.

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, is pleased to provide assay results for the remaining Reverse Circulation ("RC") exploration drilling results of an initial scouting programme undertaken within the ML133 mining license area ("Lithium Ridge")

Building on the channel sampling programme, whose results highlighted the potential of the mineralised pegmatites, an exploration drilling programme ("the Programme") was implemented to investigate the continuation of selected lithium enriched pegmatites at depth. This announcement contains the results of the remaining 11 of the 24 holes drilled. The Programme indicates that the targeted pegmatites continue at depth, and these analytical results confirm the presence of significant lithium and associated tin mineralisation within multiple pegmatites. 

HIGHLIGHTS

§ All drill holes intersected mineralised pegmatites with spodumene and petalite identified as the primary lithium minerals.

§ Significant pegmatite intersections include:

o  Drill hole ATNN 17: 39 m at 1.57% Li₂O, 0.16% Sn and 56 ppm Ta from 16 m to 55 m.

-       Including a notable lithium intersection of 25 m at 1.73% Li₂O from 29 m to 54 m.

o  Drill hole ATNN 23: 57 m at 1.52% Li₂O, 0.15% Sn and 58 ppm Ta from 15 m to 72 m.

-       Including a notable lithium intersection of 32 m at 1.85% Li₂O from 30 m to 62 m.

o  Drill hole ATNN 24:  20 m at 1.36% Li₂O, 0.16% Sn and 44 ppm Ta from 20 m to 40 m.

-       Including a notable lithium intersection of 9 m at 2.01% Li₂O from 27 m to 36 m.

o  Drill hole ATNN 25:  22 m at 1.28% Li₂O, 0.14% Sn and 72 ppm Ta from a depth of 17 m to 39 m.

-       Including a notable lithium intersection of 9 m at 2.03% Li₂O from 27 m to 36 m.

§ These results represent the remaining 2km of strike providing a combined mineralised strike of 6km.   

Anthony Viljoen, Chief Executive Officer, commented:

"The second and final batch of drill results confirm the potential of Lithium Ridge. They confirm that the 6km of mineralisation at surface continues at depth. As previously stated, these results for the remaining 2km of strike indicate intersections at higher lithium grades than those recorded at Uis and are commensurate with similar hard-rock resources globally. We are encouraged that these results also have tin grades similar to those at Uis which will be investigated for by-product potential.

"Following the production of a saleable lithium concentrate from Lithium Ridge in May 2023, the recently commissioned lithium pilot plant will, when completed, facilitate the determination of an optimal flow sheet as the development advances."

Project Location

The Lithium Ridge project is within the ML133 mining license area situated approximately 35km southeast of the Uis Mine, along the D1903 road linking to the B2 highway. This license area is situated within the NaiNais - Kohero pegmatite belt and is the location of the former tin and tantalum producing TinTan mine.  

Overview of results

The programme comprised 24 RC drill holes for a total of 1900 m drilled, yielding approximately 800 samples for chemical analysis. The results of the first 13 drill holes have been disclosed (see announcement dated 6 September 2023), while the results of the remaining eleven drill holes, comprising approximately 400 samples, are reported in this announcement. 

The Programme was undertaken to investigate the subsurface morphology and metal endowment of selected pegmatite bodies which contain elevated lithium values at surface. Since this Programme has been undertaken over an area the Company considers to be greenfield, the approach has been one of caution in evaluating the potential of each pegmatite. Due to the favourable results of this Programme, the Company is likely to implement additional drilling programmes with a view to defining a JORC compliant resource within this area in the future.

The results reported as "Whole intersection" in Table 1 below, indicate a pegmatite intersection from the top to the bottom contact. Samples with RC chips indicating the presence of xenolith material have been included within the reported intersection. The intersections reported as "including" represent higher-grade intervals within the total intersection of the selected pegmatites. Although all the drill holes were drilled at an angle of 60° (60 degrees) from the horizontal, except for drill hole ATNN21 which was drilled 55° from the horizontal. The reported pegmatite intersections should still be considered to represent apparent widths.

Table 1: Analytical results of the maiden RC drill programme implemented at Lithium Ridge. The 'whole intersection' values comprise the weighted average for the entire pegmatite intersection, including xenoliths. The remaining intersections represent selected intervals aimed at highlighting enhanced metal content.

All reported holes were drilled by RC methodology at an inclination of 60° from the horizontal. Downhole surveys using a magnetic deviation probe at 2 m intervals were completed for each hole immediately after drilling, and collar locations were surveyed using a differential GPS. Due to the undulating dip angle of the pegmatites, the intersections are assumed to be an indication of apparent thickness, which is greater than true thickness. 

Other minor pegmatites identified in drill holes have not been reported because they are not currently considered to be of economic significance. Each drill hole was geologically logged and sampled at 1 m intervals, with the entire RC sample being dispatched to the laboratory for preparation. The sample analysis was undertaken by UIS Analytical Services, a certified independent laboratory in South Africa, using a peroxide fusion. ICP-OES analysis was utilised for major and minor elements whilst ICP-MS was utilised for the trace elements. No top cut was applied in calculating the weighted average of the intersections.

Figure 1: Map displaying the localities of the reported holes, and the mapped surface exposure of pegmatites. Line A-A' indicates the position of the cross section shown in Figure 2 below.

Figure 2: Section line A-A' displaying a projection of the drill hole for which the results are reported in this announcement. Since there are no additional intersections of each intrusive body, the shape of the unit was extrapolated from mapped surface expressions. All holes were drilled at an inclination of 60° from the horizontal.

Figure 3: Map indicating the location of the drill holes reported with this release in relation to the drill holes previously reported (see announcement dated 6 September 2023).

Competent Person Statement

The technical data in this announcement has been reviewed by Professor Laurence Robb ("Prof. Robb"), who is a non-executive director of Andrada Mining. Prof. Robb has over 30 years of industry related exploration and mineral experience and is a Competent Person for the reporting of exploration results. He has reviewed both the technical disclosures in this release as well as the quality assurance protocols and results for this programme.

Glossary of abbreviations

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About Andrada Mining Limited

Andrada Mining Limited, formerly Afritin Mining Limited, is a London-listed technology metals mining company with a vision to create a portfolio of globally significant, conflict-free, production and exploration assets. The Company's flagship asset is the Uis Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.

An exploration drilling programme is currently underway with the aim of expanding the tin resource over the fourteen additional, historically mined pegmatites, all of which occur within a 5 km radius of the current processing plant. The Company has set a mineral resource target of 200 Mt to be delineated within the next 5 years. The existing mine, together with its substantial mineral resource potential, allows the Company to consider economies of scale.

Andrada is managed by a board of directors with extensive industry knowledge and a management team with extensive commercial and technical skills. Furthermore, the Company is committed to the sustainable development of its operations and the growth of its business. This is demonstrated by the way the leadership team places significant emphasis on creating value for the wider community, investors, and other key stakeholders. Andrada has established an environmental, social and governance system that has been implemented at all levels of the Company and aligns with international standards. [END]