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(Sharecast News) - Andrada Mining said on Tuesday that further drill results from its Lithium Ridge project in Namibia had confirmed consistent high-grade lithium mineralisation from surface, including grades of up to 3.46% lithium oxide.
The AIM-traded company, which produces tin and is developing a broader critical minerals portfolio in Namibia, said the third batch of results covered six additional diamond drill holes from Lithium Ridge.
Andrada said hole LRD027 returned 9.05 metres at 2.28% lithium oxide from 50.82 metres, including 3.97 metres at 3.46% lithium oxide.
Hole LRD023 intersected 9.64 metres at 1.24% lithium oxide from 50.36 metres, including 5.11 metres at 1.89%.
Further results included 13.27 metres at 1.42% lithium oxide from 32.06 metres in hole LRD024, including 6.79 metres at 1.90%, while hole LRD037 returned 3.97 metres at 0.95% lithium oxide from 48.78 metres, including 1.51 metres at 1.99%.
The company said tin and tantalum mineralisation had also been confirmed across all holes, potentially enhancing the project's economics through polymetallic revenue streams.
Hole LRD029 included 4.97 metres at 0.21% tin and 130 parts per million tantalum.
Andrada said it had successfully completed the extended stage one drilling campaign at Lithium Ridge, delivering 143 holes comprising 16,500 metres of oriented core.
The exploration team is now prioritising logging and sampling to accelerate sample delivery.
Chief executive officer Anthony Viljoen said the company continued to receive "exciting results" from the recently completed drill programme, which was carried out with partner SQM.
"Intersection grades up to 3.46% Li2O near-surface, demonstrate exceptional quality and scale, reaffirming our shared conviction in the potential of the asset," he said.
Viljoen said the company had strategically expanded its drilling footprint to fast-track definition of the geological system's boundary and economic value, adding that the presence of associated tin and tantalum mineralisation gave the project "a highly attractive multi-commodity dimension".
"Lithium Ridge is rapidly establishing itself as a standout project within Andrada's critical minerals portfolio in Namibia," he said.
At 1026 BST, shares in Andrada Mining were down 1.1% at 3.61p.
Reporting by Josh White for Sharecast.com.
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