Andrada Mining has reported additional spodumene-bearing pegmatite intersections at its Lithium Ridge project in Namibia, where exploration is being advanced under a funding agreement with Chilean lithium producer SQM. Recent drilling has returned mineralised intervals containing up to 1.64% lithium oxide (Li₂O), while also identifying tin and tantalum mineralisation and additional pegmatites beyond the main mineralised trend.
The latest results include an intersection of 34.90 metres grading 1.02% Li₂O, with a higher-grade interval of 6.22 metres at 1.67% Li₂O. Another drill hole returned 9.03 metres at 1.64% Li₂O. The findings contribute to ongoing work to establish the deposit’s scale, geological continuity and distribution of mineralisation. Andrada is continuing to define the extent of the lithium-bearing system through its exploration programme.
SQM Earn-In Provides Exploration Funding
The Lithium Ridge programme is being funded through an earn-in agreement with SQM. Under the current first stage, SQM can provide up to approximately €6.2 million in exploration funding in exchange for a 30% interest in the project. The broader agreement provides for potential funding of around €35.5 million across its stages. Subsequent stages remain conditional, and the full amount should not be regarded as committed financing for mine construction. The current funding allocation is intended for exploration activities rather than commercial development. Further work is required before the project can progress towards a production decision.
Tin, Tantalum and Additional Pegmatites
In addition to lithium-bearing spodumene, drilling has identified tin and tantalum mineralisation. Further pegmatites have also been found outside the principal mineralised trend, broadening the area under investigation. The results will feed into the ongoing assessment of mineralisation continuity and the potential scale of Lithium Ridge. The project remains at the resource-definition stage, with further assay results and resource modelling required to establish the extent of the mineralised system.
European Financing and Critical Minerals Supply
Andrada has separate European Investment Bank (EIB) support for lithium-integration studies associated with its broader Uis operations. However, no new EIB or European Union financing was announced alongside the Lithium Ridge drilling results. Namibia is a potential source of lithium and other critical minerals for markets seeking supply outside dominant Asian supply chains. Andrada’s London listing and wider European institutional relationships connect its Namibian portfolio with European capital and prospective battery-material markets.
Further assays, resource modelling and evidence of economic viability remain important milestones for Lithium Ridge. The project must still advance through feasibility studies, permitting and the arrangement of construction financing before it can move from exploration towards production.
