TIDMATM
RNS Number : 8545P
Andrada Mining Limited
12 October 2023
12 October 2023
Andrada Mining Limited
("Andrada" or the "Company")
Update on Brandberg West
Commencement of the Brandberg West exploration programme
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 confirm the
commencement of an initial exploration programme for the Brandberg
West exploration licence.
HIGHLIGHTS
-- Brandberg West mine was historically a prolific producer of
tin and tungsten with strong indications of copper
mineralisation.
-- Commencement of an exploration programme at EPL5445 which
includes:
o Evaluation of the polymetallic mineralisation of the
historical opencast operation.
o Investigation of the mineralised extensions beyond the
previously mined site.
-- Mobilisation of a planned 3,000 metre drill programme to
commence during the second half of this calendar year.
Anth ony Viljoen, Chief Executive Officer, commented:
"The exploration programme will enable us to determine the
extent of the mineralisation in and around the Brandberg West mine.
The project provides an exciting opportunity for us to duplicate
the development process we have successfully implemented at Uis, by
taking it from an abandoned historical operation, into a
fully-fledged producing mine.
"The historical figures show that EPL5445 has the potential to
double the current volume of tin concentrate produced at Uis and
add Tungsten to the expanding list of metals produced by Andrada.
The Erongo region continues to prove itself to be an untapped
technology metals province, and we are excited to be commencing
work on what we believe will be another world class technology
metals asset.
"Brandberg West will solidify Andrada's tech-metals portfolio by
potentially adding critical metals revenue streams of tungsten, and
copper as a by-product. We look forward to continuing with our
exploration programme and aimed at re-establishing the historical
Brandberg West Mine."
Overview of BRANDBERG WEST
Location
Namibian exploration license EPL5445 is located 110km west of
the Uis Mine (ML134) within the mineral rich Erongo region of
Namibia. The license covers an area of 35 045 ha and includes the
Brandberg West mine which was owned and operated by the mining
entity Gold Fields until closure in 1980. Historical reports
indicate that over 12 000 tonnes of tin and tungsten concentrate
were produced during the mine's life, with peak production recorded
at 1 249 tonnes in 1978.
Above : Map of the location of Brandberg West licence in
relation to the Company's other mineral licences.
Mineralisation
Brandberg West is currently the only Namibian exploration
licence within the Company's portfolio. The project was acquired
for its significant tin and tungsten mineralisation in line with
the Company's vision to become a tier-one multi-tech-metal
producer. The license has multiple documented mineral occurrences
that indicate the presence of a large-scale mineral system
including known concentrations of tin, tungsten, and copper. The
potential production of tungsten will expand the number of
technology metals within the Company's portfolio. Copper
mineralisation has also been documented within the mineralised area
and will be investigated as a potential by-product. The license
area lies within the Southern Kaoko Zone, a division of the Damara
Orogen. The lithological units within the license area comprise a
sequence of metamorphosed sedimentary layers folded along a NNE-SSW
trend. Multiple generations of quartz veins have been identified
within these metasediments, with one or more of these generations
being associated with hydrothermal tin, tungsten, and copper
mineralisation.
Uses of tungsten and copper
Tungsten is highly resistant to corrosion, has a very high
melting point and the highest tensile strength of any element.
Current uses include electrodes, heating elements, and filaments in
light bulbs. It is also commonly used in heavy metal alloys such as
specialised steels from which, for example, cutting tools are
manufactured. Copper is a key input in the production of electric
vehicles constituting up to 25%(1) of the requisite metal content.
Electric vehicles contain approximately 1.5 km of copper wiring
used to convert the electrical energy to mechanical energy.
EXPLORATION PROGRAMME
A dual phased approach is planned for the development of the
Brandberg West licence area. The initial phase will investigate the
historical mining area and potential extensions of the
mineralisation along strike, with the northern extension identified
as a priority due to the abundance of mineralised veins visible at
surface. This initial phase will also include evaluation of
high-grade mineralisation in the historical pit through a detailed
drilling programme. The mobilisation of a drilling programme
comprising 3 000 metres will commence during the second half of
this calendar year and further updates will be provided as results
are obtained. The second phase entails investigation of the
mineralisation potential of the wider license area. Essentially,
this programme will investigate multiple occurrences of
mineralisation through sampling and geological mapping to establish
potential enrichment trends.
(1) Source: Report of the IEA - 'The Role of Critical Minerals
in Clean Energy Transitions' released May 2021.
Contact
Andrada Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO investorrelations@andradamining.com
Sakhile Ndlovu, Investor Relations
Nominated Adviser
WH Ireland Limited
Katy Mitchell +44 (0) 207 220 1666
Corporate Adviser and Joint
Broker
H&P Advisory Limited
Andrew Chubb
Jay Ashfield
Matt Hasson +44 (0) 20 7907 8500
Stifel Nicolaus Europe Limited
Ashton Clanfield
Calum Stewart
Varun Talwar +44 (0) 20 7710 7600
Tavistock Financial PR (United +44 (0) 207 920 3150
Kingdom) andrada@tavistock.co.uk
Jos Simson
Catherine Drummond
Adam Baynes
About Andrada Mining Limited
Andrada 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 at Uis
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 considerable
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]
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDNKDBBDBDBKKD
(END) Dow Jones Newswires
October 12, 2023 02:00 ET (06:00 GMT)
Andrada Mining (LSE:ATM)
過去 株価チャート
から 10 2024 まで 11 2024
Andrada Mining (LSE:ATM)
過去 株価チャート
から 11 2023 まで 11 2024
