TIDMATM
RNS Number : 4134D
AfriTin Mining Ltd
26 June 2019
26 June 2019
AfriTin Mining Limited
("AfriTin" or the "Company")
Uis Exploration Drilling Update
AfriTin Mining Limited (AIM: ATM), a mining company with a
portfolio of near production tin assets in Namibia and South
Africa, with its flagship asset, the Uis Tin Mine ("Uis") in
Namibia, is pleased to provide an update on the drilling programme
designed to support the declaration of a Mineral Resource estimate
on the V1 and V2 pegmatite.
Highlights
-- Receipt of the remaining assay results (ten holes) from the resource validation drilling;
-- Significant intersections include;
o 40.50m @ 0.15% Sn and 108ppm Ta in drill hole V1V2012
o 108.97m @ 0.17% Sn and 56ppm Ta in drill hole V1V2013
o 86.51m @ 0.16% Sn and 69ppm Ta in drill hole V1V2017
o 18.80m @ 0.19% Sn and 126ppm Ta in drill hole V1V2018
In Q4 2018, AfriTin initiated an exploration drilling programme
aimed at validating the historic information disclosed by SRK in
1985, for ISCOR, for the V1 and V2 pegmatites and supporting the
declaration of a maiden, JORC (2012)-compliant, Mineral Resource
estimate on the V1 and V2 pegmatites at the Uis Project.
The completion of the validation drilling at Uis was announced
on 20 May 2019. The results reported here represent the remaining
ten drill holes, of twenty in total, recommended for the validation
of the historic resource. The analytical results indicate
continuity of the pegmatite bodies reported in the previous set of
drilling results.
In areas where the units are separated into upper, middle and
lower the drill hole intercepted a xenolith of country rock which
separates the pegmatite body. Sample analysis was undertaken by UIS
Analytical Services. The major and minor elements were analysed by
ICP-OES and the trace elements were analysed by ICP-MS.
Table 1: Exploration results of holes V1V2003 - V1V2020 of the
current drilling campaign, (widths reported indicate apparent
intersection widths).
Hole Dip Angle Pegmatite From To (m) Width Grade Grade Grade
ID Unit (m) (m) Sn (%) Ta (ppm) Li(2)
O (%)
--------- ----------- ----------- ------- ------- ------- -------- ---------- -------
V1V2003 Vertical V1 86.00 112.19 26.19 0.17 120 0.44
----------- ----------- ------- ------- ------- -------- ---------- -------
V1V2012 Vertical V2 30.39 70.89 40.50 0.15 108 0.96
V1 88.21 112.66 24.45 0.15 58 1.00
--------------------------------- ------- ------- ------- -------- ---------- -------
V1V2013 Vertical V2 96.77 205.74 108.97 0.17 56 0.72
----------- ----------- ------- ------- ------- -------- ---------- -------
V1V2014 Vertical V2 Upper 14.00 31.23 17.23 0.19 120 1.06
V2 Lower 53.97 64.92 10.95 0.16 127 1.11
--------------------------------- ------- ------- ------- -------- ---------- -------
V1V2015 Vertical V2 Upper 37.00 55.91 18.91 0.16 127 1.11
V2 Lower 79.82 88.98 9.16 0.18 117 1.01
--------------------------------- ------- ------- ------- -------- ---------- -------
V1V2016 Vertical V2 Upper 59.71 82.24 22.53 0.12 92 0.88
V2 Middle 89.43 95.85 6.42 0.25 107 0.78
V2 Lower 115.96 120.47 4.78 0.19 90 0.43
--------------------------------- ------- ------- ------- -------- ---------- -------
V1V2017 Vertical V2 126.49 213.00 86.51 0.16 69 1.22
----------- ----------- ------- ------- ------- -------- ---------- -------
V1V2018 Vertical V2 18.00 36.80 18.80 0.19 126 0.75
----------- ----------- ------- ------- ------- -------- ---------- -------
V1V2019 Vertical V2 60.40 88.00 27.60 0.13 94 1.42
----------- ----------- ------- ------- ------- -------- ---------- -------
V1V2020 Vertical V2 147.00 170.00 23.00 0.14 44 0.68
----------- ----------- ------- ------- ------- -------- ---------- -------
Results received from the current campaign are considered
comparable, subject to additional validation work, to those
reported by SRK (1985), both in terms of geological validation of
the current geological model, and in terms of tin (Sn) grade, with
SRK (1985) reporting an average grade of 0.14 % Sn for the V1 and
V2 pegmatites.
Anthony Viljoen, CEO of AfriTin Mining Limited commented:
"The conclusion of the confirmatory drilling programme is a
significant milestone towards the declaration of a mineral resource
estimate. Importantly from this set of results an intersection of
108.97 metres at 0.17% Sn indicates that the V1 and V2 pegmatites
thicken with depth. In addition, the notable grades of the
ancillary elements points to the potential for multiple revenue
streams as the project advances."
Competent Person Statement:
The technical data in this announcement has been reviewed by Dr
Brendan Clarke of CSA Global, who provides geological consulting
services to AfriTin. Dr Clarke is Manager - Africa for CSA Global
and has 20 years of industry related exploration and mineral
project development experience and is a Competent Person for the
reporting of Exploration results. He has reviewed both the
technical disclosures in this release as well as the quality
assurance protocols and results for the assay campaign. Dr Clarke
is satisfied that the results of the QAQC on the assay results
released to date are sufficient to support the planned estimation
of Mineral Resources.
Glossary of abbreviations
Li Lithium
Li(2) O Lithium oxide
Li to Li(2) Conversion factor of 2.153
O
ICP-MS Inductively Coupled Plasma- Mass Spectrometry
ICP-OES Inductively Coupled Plasma- Optical Emissions Spectrometry
JORC The Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves
PPM Parts Per Million
QAQC Quality Assurance Quality Control
Sn Elemental symbol for Tin
Ta Elemental symbol for Tantalum
V1 and Primary pegmatite resource targets for Exploration
V2
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
Adrian Hadden
James Sinclair-Ford +44 (0) 207 220 1666
Corporate Advisor and Joint Broker
Hannam & Partners
Andrew Chubb
Jay Ashfield
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
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
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 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
DRLEAEKSAEFNEAF
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