Andrada Mining Extends Lithium Ridge to 9 Kilometres after 143-hole Drilling Campaign

Andrada Mining Limited has extended the identified mineralised trend at its Lithium Ridge project in Namibia to 9 kilometres from 6 kilometres after completing 16,500 metres of drilling, according to its interim results issued on Wednesday.

The company said it completed 143 diamond drill holes during Stage 1, with positive early results prompting an expansion of the drilling programme.

The work aims to establish the extent of lithium mineralisation at the project and support resource definition under Andrada's earn-in partnership with SQM Australia.

Andrada reported that surface sampling across the licence area identified additional mineralised pegmatites beyond the main trend, extending its known length by 50%.

The company also reported promising lithium grades from the drilling campaign.

In an announcement made on in its latest Interim Financial Result Report, Andrada said its fifth batch of drill holes returned lithium oxide grades of up to 2.11% over approximately 5 metres.

According to the company, the drill holes also contained tin and tantalum, which will be assessed for their potential contribution to the project's overall value as exploration and technical work progress.

Andrada highlighted that Stage one work remains ongoing, with the remaining drill core being processed and analysed.

Furthermore, the company also expects the outstanding assay results to be completed during the current quarter, allowing the partners to advance resource definition and subsequent project studies.

Andrada Mining's Chief Executive Office, Anthony Viljoen said in the interim report that Lithium Ridge was increasingly moving beyond the early exploration stage.

“It is an extensively drilled critical minerals project being evaluated under a funded strategic partnership with SQM, with a defined programme of technical work ahead,” Viljoen said.

Under the partnership, SQM can earn up to a 50% interest in Grace Simba Investments, the company established for the Lithium Ridge project, by spending up to US$40 million across 3 stages.

Andrada reported that SQM can secure an initial 30% interest by spending US$7 million during the 1st stage, followed by a further 10% for an additional US$13 million in the 2nd stage, while the remaining 10% is linked to SQM funding the project through to a definitive feasibility study or total expenditure reaching US$40 million.

Andrada also reported that its investment in Grace Simba Investments was valued at £1.4 million, equivalent to approximately N$31 million, as at 31 August 2026.

The company recorded £343,110 in income from the investment during the reporting period.

Andrada Mining, is listed on London's AIM market and operates the Uis tin mine in Namibia, its other projects include Lithium Ridge, which is being advanced with SQM, and Brandberg West, which is being developed with BWCAM Limited.

The Lithium Ridge partnership was signed on 7 September 2024 and took effect on 17 February 2025 following approval by the Namibia Competition Commission.