Andrada Mining Provides Mineral Resource Update for Uis Mine
Why we think this is neutral
The RNS provides a technical update on the Mineral Resource Estimate for the Uis mine, with no clear positive or negative indications that would significantly impact the share price. The information is factual and does not contain any forward-looking statements or guidance.
Key Points
- Increases in average lithium grade and volumes of the measured and indicated resource classifications
- Measured resource tonnage increases by 30% to 27.3 Mt at 0.82% Li2O
- Indicated resource tonnage increases by 2% to 17.5 Mt at 0.79% Li2O
- Total Mineral Resource decreases from 81 Mt to 77.5 Mt due to depletion from ongoing mining
Summary
Andrada Mining Limited has released an updated Mineral Resource Estimate (MRE) for the V1V2 pegmatite at its Uis tin mine in Namibia. The updated MRE shows increases in the average lithium grade and volumes of the measured and indicated resource classifications. The total Mineral Resource now stands at 77.51 Mt at an average grade of 0.79% Li2O, 0.15% Sn and 82 ppm Ta. This includes 27.33 Mt at 0.82% Li2O in the Measured category and 17.50 Mt at 0.79% Li2O in the Indicated category. The company says this update further enhances the project economics and will enable the determination of a lithium mineral reserve.