22nd May 2025 12:00
(Alliance News) - Atlantic Lithium Ltd on Thursday announced the discovery of spodumene pegmatite in outcrop and float, and lithium-in-soil anomalies, at exploration licences in the Ivory Coast.
In response, the stock price jumped 8.0% to 7.13 pence in London on Thursday afternoon.
The West Africa-focused lithium exploration and development company also said rock-chip sampling at its Agboville and Rubino licences in Ivory Coast returned high-grade lithium assays up to 1.25% lithium oxide.
Also, Atlantic Lithium said the phase 2 soil sampling programme at Rubino delivered "impressive results" for lithium, identifying "significant" and "pronounced" anomalies "over a 2.5km by 2.0km area".
It said that test results from outcrop and float, meanwhile, "confirm the company's visual spodumene observations and demonstrate the significant prospectivity of the two licences".
Agboville and Rubino are "situated within the same broad geological setting" that hosts Atlantic's Ewoyaa lithium project in Ghana, as well as "other spodumene pegmatite deposits in Mali", and the exploration programmes at those two licences "extend the company's lithium exploration activities beyond Ghana for the first time".
"The discovery of spodumene pegmatite at both of the company's Agboville and Rubino licences represents a momentous occasion for Atlantic Lithium's first low-cost exploration campaign in Cote d'Ivoire," commented Chief Executive Officer Keith Muller. "High-grade assay results returned from the rock-chip sampling programme undertaken across both licences confirm visual spodumene observations made during mapping, clearly demonstrating the significant prospectivity of the company's tenure."
He continued: "These encouraging results mark an exciting milestone for Atlantic Lithium's exploration efforts in Cote d'Ivoire, where the company aims to discover Africa's next major lithium deposit.
"While our primary focus remains firmly on progressing Ewoyaa towards a final investment decision, we believe the Agboville and Rubino licences, which are 100%-owned through the Company's wholly-owned subsidiary, Khaleesi Resources SARL, represent an attractive opportunity for value creation through low-cost exploration and strategic diversification into multiple jurisdictions."
By Emma Curzon, Alliance News reporter
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