Atlantic Lithium Discovers New High-Grade Spodumene Pegmatite Occurrences in Côte d’Ivoire
Atlantic Lithium Limited, the Africa-focused lithium exploration and development company, has announced the identification of extensive lithium-in-soil anomalies following the completion of Phase 2 and Phase 3 soil sampling programmes across its Rubino and Agboville exploration licences in Côte d’Ivoire.
The two licences, which are 100%-owned through the company’s subsidiary, Khaleesi Resources SARL, continue to yield encouraging results pointing to strong lithium mineralisation potential in the West African nation.
According to the company, Phase 3 results at the Rubino licence have extended the lithium-in-soil anomalous zone identified earlier to cover an area of approximately 6.0km by 2.5km. Several distinct linear trends have been mapped within this zone, warranting immediate on-ground follow-up exploration.
At Agboville, Phase 2 soil sampling defined a pronounced linear anomaly spanning over 5km, alongside several other anomalous features—one of which is directly associated with spodumene pegmatite float discovered by the company’s geologists.
Further geological mapping at Rubino has led to the discovery of additional spodumene pegmatite occurrences in rock float, returning high-grade lithium assays and reinforcing the site’s exploration potential.
Atlantic Lithium stated that these developments underscore the prospectivity of its exploration tenure in Côte d’Ivoire, a mining-friendly but underexplored jurisdiction for lithium. The company is pursuing low-cost exploration across the Rubino and Agboville licences concurrently with the advancement of its flagship Ewoyaa Lithium Project in Ghana, as part of its strategy to build a pipeline of lithium assets supporting long-term growth.
In a bid to accelerate exploration in Côte d’Ivoire, Atlantic Lithium has engaged a specialist corporate advisor to initiate a formal process to source non-dilutive funding options, including potential project-level partnerships or minority investments.
Commenting on the latest results, Keith Muller, Chief Executive Officer of Atlantic Lithium, said: “The latest results from the Company’s ongoing exploration programmes across its 100%-owned Rubino and Agboville licences further underscore the prospectivity of its tenure in Côte d’Ivoire. Phase 2 and Phase 3 soil sampling results have delineated pronounced lithium-in-soil anomalies extending over several kilometres across the two licences, with several trends warranting further evaluation.”
“The Company believes that its licences in Côte d’Ivoire demonstrate significant value potential through lithium exploration. To be undertaken alongside the advancement of our flagship Ewoyaa Lithium Project in Ghana, we have commenced a formal process to explore funding options to accelerate the exploration of the two licences,” he added.
Atlantic Lithium said additional mapping and auger drilling will be undertaken in the coming months to evaluate the newly identified anomalies and refine future exploration targets across both Ivorian projects.
Atlantic Lithium Secures up to $37.5m Funding for Ghana’s Ewoyaa Project
Atlantic Lithium, two months ago, secured binding financing agreements worth up to £28m ($37.5m) with Long State Investments, bolstering its balance sheet as the Africa-focused explorer moves closer to developing Ghana’s first lithium mine.
The AIM- and ASX-listed company said it had struck a two-pronged deal with the Hong Kong-based investment group, comprising an £8m share placement and a £20m committed equity facility. The funding, spread over 24 months, provides both immediate capital and longer-term access to liquidity as the group navigates a subdued lithium market.
The initial tranche of the share placement will raise £2m through the issue of 24.8m shares, with three further tranches of £2m each available at the company’s discretion. The £20m equity facility, which requires shareholder approval at an extraordinary general meeting in October, will allow Atlantic to issue new shares in stages over two years.
The company is currently awaiting parliamentary ratification of its mining lease for the flagship Ewoyaa project, the final step in Ghana’s permitting process, before advancing to construction. Parliamentary ratification has been delayed, forcing the miner to implement cash conservation measures that cut quarterly outflows by more than half to AUD 3.8m in the final quarter of 2025.
