AfriTin Mining Ltd Discovery of lithium occurrences at licence ML133 (9099O)
04 February 2019 - 6:00PM
UK Regulatory
TIDMATM
RNS Number : 9099O
AfriTin Mining Ltd
04 February 2019
4 February 2019
AfriTin Mining Limited
("AfriTin" or the "Company")
Operational Update
Discovery of lithium occurrences at licence ML133
AfriTin Mining Limited (AIM: ATM), a mining company with a
portfolio of near production tin assets in Namibia and South
Africa, with the flagship asset being the Uis Tin Mine in Namibia
("Uis Mine"), is pleased to provide an update on the establishment
of geologically significant lithium occurrences at its ML 133
Licence.
Highlights
-- The discovery of significant grades of lithium, in addition
to tin, in pegmatites in the ML 133 License, located in the Nainais
area;
-- The ML 133 license is outside of the current development area at the Uis mine;
-- Further mineralogical testing has confirmed the presence of
lithium minerals, specifically petalite, in pegmatites of the
license area; and,
-- These results are considered encouraging and warrant further investigation.
The Company took the decision to follow up on results that were
obtained by Greenhills Resources Limited, during their due
diligence that was undertaken in 2016 (see Admission Document). As
part of this investigation a number of grab samples were taken from
each license area. Five samples were obtained from the ML133
(Nainais) license area, the site of the historic TinTan mine dating
back to the late 1980's. The results of this due diligence
indicated significant tin mineralisation, with grades averaging
0.274% tin.
In addition to the tin mineralisation, grab samples indicated
potential for lithium mineralisation with assay results ranging
between 0.28% and 3.93% Li2O. These results motivated additional
mineralogical test work based on a composite dump sample, reported
herein. This material was selected because it represents a blend of
all the mineralogical components making up the previously mined
material in the area
The recent test work indicates that the most abundant
lithium-bearing mineral present is petalite, with lesser
lithian-muscovite, montebrasite and cookeite. In addition to the
high modal abundance of petalite within the dump sample, the
mineral is easily liberated, particulate (75% greater than 100 um
in size) and potentially recoverable by gravity separation.
Petalite concentrate commands a premium in the market as it can
contain up to 4.4% Li2O. The crystal structure of petalite limits
the occurrence of impurities when compared to spodumene which
generally contains higher concentrations of iron and other
contaminants.
Further work will be undertaken to determine the economics of
exploiting the Lithium.
Commenting CEO Anthony Viljoen stated,
"We are delighted by the discovery of geologically significant
grades of lithium-bearing material at our Nainais deposit. Although
the lithium discovery at the ML133 license is not of immediate
priority for the Company, it does provide us with a considerable
upside target for the Company to explore in the future. Lithium
remains a major industrial mineral in battery storage technologies
and exploitation of lithium from this licence area could
potentially contribute value to the Company in the future."
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
For further information, please visit www.afritinmining.com or
contact:
AfriTin Limited
Anthony Viljoen, CEO +27 (11) 268 6555
Nominated Adviser and Joint Broker
WH Ireland Limited
Katy Mitchell
James Sinclair-Ford +44 (0) 207 220 1666
Corporate Advisor and Joint Broker
H&P Advisory Limited
Andrew Chubb
Nilesh Patel +44 (0) 20 7907 8500
Joint Broker
NOVUM Securities Limited
Jon Belliss +44 (0)20 7399 9400
Financial PR (United Kingdom)
Tavistock +44 (0) 207 920 3150
Jos Simson
Barney Hayward
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining is the first pure tin company listed in London
and its vision is to create a portfolio of world-class,
conflict-free, tin producing assets. The Company's flagship asset
is the Uis brownfield tin mine in Namibia, formerly the world's
largest hard-rock tin mine.
AfriTin is managed by an experienced board of directors and
management team with a current two-fold strategy: fast track Uis
brownfield tin mine in Namibia to commercial production in Q2 2019
ramping up to 5,000 tonnes of concentrate, and consolidation of
other quality African tin assets. The Company strives to capitalise
on the solid supply/demand fundamentals of tin by developing a
critical mass of tin resource inventory, achieving production in
the near term and further scaling production by consolidating tin
assets in Africa.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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