Andrada confident after second batch of Lithium Ridge drilling results

5th May 2026 16:26

(Sharecast News) - Andrada Mining said on Tuesday that a second batch of diamond drilling results from Lithium Ridge in Namibia had confirmed consistent high-grade lithium mineralisation from surface to depth, strengthening confidence in the scale and continuity of the system.

The AIM-traded company, which produces tin and holds a portfolio of critical minerals assets in Namibia, said the results also confirmed associated tin and tantalum mineralisation across all reported holes, indicating potential by-product value.

It said the latest results included 21.33 metres at 1.24% lithium oxide from 146.18 metres in drill hole LRD031, including 7.20 metres at 1.99% lithium oxide.

Drill hole LRD025 returned 16.24 metres at 1.04% lithium oxide from 0.87 metres, including 8.86 metres at 1.63%.

Other results included 10.87 metres at 1.38% lithium oxide from 25.68 metres in LRD022, including 7.35 metres at 1.68%, and 5.88 metres at 1.50% lithium oxide from 76.50 metres in LRD017, including 3.00 metres at 1.94%.

Chief executive Anthony Viljoen said the results continued to strengthen Andrada's understanding of the Lithium Ridge pegmatite system.

"The combination of scale and grade emerging at this stage is particularly compelling," he said.

"On the back of these strong results, we have expanded the drilling programme to more fully test the extent of the system and to deepen our understanding of its full value potential, with the objective of accelerating overall project development."

The results covered an additional seven drill holes and are reported as whole pegmatite intersections, with higher-grade zones shown separately.

Andrada said spodumene had been visually identified by the site geological team as the primary lithium-bearing mineral.

The firm said tin and tantalum grades had also been highlighted because they confirmed the fertility of the lithium-bearing pegmatites at Lithium Ridge and could provide potential by-product credits.

Following the strong drill results, the stage one programme under Andrada's earn-in agreement with Sociedad Química y Minera de Chile, through SQM Australia, had been expanded by about 18% to 16,500 metres of orientated diamond core drilling.

The programme had also been extended by a further three months to define the depth and continuity of mineralised pegmatites identified at surface.

Andrada said the results continued to build a scenario pointing to a large-scale lithium system in an established mining jurisdiction.

"Comprising multiple critical minerals, Lithium Ridge is developing into a potentially exciting project within our critical minerals portfolio in Namibia," Viljoen said.

The company said all reported intersections represented apparent widths rather than true thicknesses, as the holes were drilled at inclined angles.

Pegmatite intersections not meeting minimum cut-off criteria of more than 0.25% lithium oxide, 0.1% tin or 99 parts per million tantalum were not reported because they were currently considered to have no economic significance.

Samples were logged, cut and submitted to independent certified laboratories for analysis.

Lithium and major elements were analysed using sodium peroxide fusion with ICP-OES, while tin, tantalum and other trace elements were analysed using lithium borate fusion with ICP-MS.

No top cut was applied in calculating weighted average grades.

At 1605 BST, shares in Andrada Mining were up 2.33% at 4.4p.

Reporting by Josh White for Sharecast.com.

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