Andrada Mining Limited (ATM): Lithium Ridge exploration with SQM
This situation live
ATM Andrada Mining Limited
27 Nov 2025 · Reengineered; long-lead items procured; delayed · +7% until the next step
Fabrication of the remaining parts of the circuit is set to commence during first half of 2026, with commissioning scheduled for the second half 2026.
17 Dec 2025 · Optimisation studies continuing · +3% until the next step
Progression of ore-sorter optimisation studies to enhance feed pre-concentration.
9 Feb 2026 · First 15 holes reported; high-grade lithium · −14% until the next step
Stage 1 exploration programme progressing on schedule: regular updates to be published as results are received and milestones achieved.
26 Mar 2026 · Stage 1 drilling continuing; accelerated programme · +21% until the next step
The accelerated drilling programme in partnership with SQM, will allow for rapid realisation of the inherent potential in this deposit.
27 May 2026 · Debt conditionally approved; construction funded · +0% until the next step
Construction and commissioning of the ore-sorting circuit.
29 Jun 2026 · Loans still conditional; construction said funded · +27% until the next step
The Loan Facilities, when finalised, will complete UTMC's funding requirements to achieve targeted increases in tin concentrate production at Uis Mine.
17 Aug 2026 · Loans executed; project in execution · +35% until the next step
The Loan Facilities comprise two equal NAD49 million (c. £2.2 million) tranches and all conditions precedent governing loan disbursement have been met to the satisfaction of both lenders.
28 Sep 2026 · Funded; long-lead crushing equipment ordered · +6% until the next step
Long-lead equipment has been ordered for the crushing component of the ore-sorting as project implementation advances.
6 Oct 2026 · Drilling complete; fifth batch of assays reported · −7% since
This latest batch of data confirms substantial down-dip continuity and structural thickening of the targeted pegmatite swarms.
Lithium Ridge exploration with SQM
Drilling complete; fifth batch of assays reported
Next: Assay analysis to be completed
Every step · 9
- 27 Nov 2025 Reengineered; long-lead items procured; delayed – Fabrication of the remaining parts of the circuit is set to commence during first half of 2026, with commissioning scheduled for the second half 2026. ↗
- 17 Dec 2025 Optimisation studies continuing – Progression of ore-sorter optimisation studies to enhance feed pre-concentration. ↗
- 9 Feb 2026 First 15 holes reported; high-grade lithium – Stage 1 exploration programme progressing on schedule: regular updates to be published as results are received and milestones achieved. ↗
- 26 Mar 2026 Stage 1 drilling continuing; accelerated programme – The accelerated drilling programme in partnership with SQM, will allow for rapid realisation of the inherent potential in this deposit. ↗
- 27 May 2026 Debt conditionally approved; construction funded – Construction and commissioning of the ore-sorting circuit. ↗
- 29 Jun 2026 Loans still conditional; construction said funded – The Loan Facilities, when finalised, will complete UTMC's funding requirements to achieve targeted increases in tin concentrate production at Uis Mine. ↗
- 17 Aug 2026 Loans executed; project in execution – The Loan Facilities comprise two equal NAD49 million (c. £2.2 million) tranches and all conditions precedent governing loan disbursement have been met to... ↗
- 28 Sep 2026 Funded; long-lead crushing equipment ordered – Long-lead equipment has been ordered for the crushing component of the ore-sorting as project implementation advances. ↗
- 6 Oct 2026 Drilling complete; fifth batch of assays reported – This latest batch of data confirms substantial down-dip continuity and structural thickening of the targeted pegmatite swarms. ↗
What is happening
Andrada Mining Limited: Lithium Ridge exploration with SQM – Drilling complete; fifth batch of assays reported. ['Drilling complete; fifth batch of assays reported']
- In short
- Lithium Ridge is explored under an SQM earn-in (SQM may earn 30%). Drilling finished in May 2026 at about 16,500m across 143 holes. On 6 Oct 2026 the fifth batch of assays reported 23 mineralised holes, with grades up to 2.04% Li2O, tin and tantalum by-products, and a newly identified pegmatite outside the main trend.
- Announced
- 27 Nov 2025 · Reengineered; long-lead items procured; delayed
- Latest
- 6 Oct 2026 · Drilling complete; fifth batch of assays reported
- Next milestone
- Assay analysis to be completed Q3 FY2027; no exact date stated
- Drilling
- Completed May 2026: about 16 500m across 143 holes
- Assays
- 22 holes (15% of programme) reported; 85% still to come
- Partner
- SQM earn-in; SQM may earn 30% interest in the Project
- Assays reported
- 34 holes released to date (22 holes at 27 May 2026); remainder pending
- Fifth batch
- 23 holes intersected mineralisation; 6 holes did not meet reporting thresholds (reported 6 Oct 2026)
- Best intersections
- LRD045 34.90m @ 1.02% Li2O; LRD060 including 4.79m @ 2.04% Li2O; LRD042 including 5.44m @ 1.84% Li2O
- New pegmatite
- LRD064, LRD066 and LRD072 intersect a newly identified pegmatite outside the LR trendline
What comes next
Assay analysis to be completed.
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