TIDMATM
RNS Number : 2015Q
AfriTin Mining Ltd
26 October 2021
26 October 2021
AfriTin Mining Limited
("AfriTin" or the "Company")
Exploration and Development Programme
AfriTin Mining Limited (AIM: ATM), an African tech-metals mining
company with its flagship asset, the Uis Tin Mine ("Uis") in
Namibia, is pleased to announce that it has commenced exploration
programmes designed to expand the size of the current
JORC-compliant resource at Uis Mine beyond the current V1 and V2
pegmatites and to evaluate several highly prospective exploration
targets.
Highlights:
-- Commencement of a drilling programme to potentially increase
the current lithium and tantalum inferred resource and confidence
level for potentially significant by-product elements;
-- Expansion of the initial confirmatory drilling programme to
potentially expand the historical resource and reserve estimates at
Uis;
-- Confirmatory sampling and drilling programmes at the historic
Brandberg West tin and tungsten mine;
-- High resolution mapping and geochemical characterisation of
lithium bearing pegmatites at historic Nai-Nais mine and licence
area; and
-- Geological modelling of historical information for the B1 and
C1 pegmatites on ML129, close to Uis
Link to Figures: https://bit.ly/3jzFWEk
Anthony Viljoen CEO commented:
"AfriTin has displayed its ability to bring mineral deposits
into production by declaring an ore reserve and bringing the Phase
1 pilot plant into production at the Uis mine site. This ore
reserve, however, represents a small portion of the historically
drilled area in the mining licence property and we believe that the
extended Uis project area can expand the size of the operation as
well as the Company's footprint within the region. The exploration
programme has been designed to validate the historical reserves and
upgrade them to meet modern JORC requirements whilst at the same
time it will look to increase the confidence levels of the exciting
lithium and tantalum by-product potential. The Company's other
licence areas across the region encompass other historical mining
areas and the potential for these to deliver sustained long-term
value by reopening a global significant tech metals province for
AfriTin, remains a high priority."
AfriTin is commencing a detailed exploration and development
programme for its existing and new licence areas, which currently
span 62,949 Ha (Figure 1). The exploration programme has been split
into various phases that will be initiated in the coming weeks and
run over a period of approximately three years, with a focus on the
high priority targets. AfriTin has identified cassiterite
mineralisation contained in over 180 pegmatites within 5km of the
processing plant at Uis. The programme has been designed to
optimise the near-term value of the current mining operations, as
well as assess the additional licence areas for the resumption of
commercial operations at the various licence areas. The programme
has been split into five areas that are prioritized as
follows:-
Priority 1
This programme has already commenced, with the objective being
to expand the confidence level of the existing lithium and tantalum
resources within the V1/V2 orebody (Figure 2). The programme is
expected to run for a period of 12 months from the completion of
mobilisation and is expected to comprise approximately 8,000 metres
of drilling. The intention is to improve the classification of the
inferred lithium and tantalum resources to indicated and measured
JORC-compliant categories, in order to increase confidence in
mineral concentration and production estimation modelling, that
will eventually lead to their incorporation into an overall mineral
reserve estimate.
Priority 2
This programme aims to expand the historical resource over the
Uis licence through a confirmatory drilling programme over other
pegmatite outcrops with existing drill holes. The Company
previously validated 141 historical holes by drilling 26
confirmatory drill holes spaced throughout the orebody. More than
600 additional drill holes remain over the Uis mining area. The
validation of these remaining historical holes will require
approximately 19,000 meters of drilling, to be undertaken over a
period of 24 months.
Priority 3
The historic Brandberg West Mine provides a compelling
opportunity to expand the Company's tin and tungsten exploration
and production footprint within the Erongo metallogenic province.
The objectives of this programme are to verify and confirm the
historical information declared when the previous owners, Gold
Fields, mined the deposit, achieving peak production in 1978 when
they produced 1,249 tonnes of tin and tungsten concentrate. To
achieve these objectives, the Company will initially undertake a
mapping and sampling programme to identify mineralisation
extensions within and along strike of the historical Brandberg West
mine. The results will be combined with existing datasets to
delineate a drill programme to evaluate the continuity of
mineralisation along strike and at depth. The programme will
initially comprise approximately 3,000 metres of drilling and is
expected to be finalised within 10 months of commencement. Multiple
additional prospective tin and tungsten targets within the license
area (EPL 5445) have been identified for investigation while the
drill programme is underway.
Priority 4
This programme focuses on the further evaluation of the Nai-Nais
mining license (ML133) which incorporates the historical Tin Tan
Mine that produced tin until the late 1980's. Sampling by AfriTin
in 2017 yielded the highest lithium grades (up to 3.9% Li(2) O) yet
assayed in the district (see the Company's Admission Document).
This programme aims to identify the areas of greatest mineral
potential for tin, tantalum and lithium by undertaking high
resolution geological mapping and geochemical characterisation
programmes within the license. This programme will require eight
months for the field work to be executed and geochemical analysis
finalised, with a view to implementation of a drilling programme
and ultimately the production of a maiden resource.
Priority 5
This programme involves the investigation of historical
information on license ML129 which contains the B1 and C1
pegmatites, these have previously been reported to contain
significant tantalum grades as well as secondary tin mineralisation
(see the Company's Admission Document). An orebody modelling
initiative will be undertaken to incorporate historical drill
datasets over the B1 and C1 pegmatites - the resulting model will
be evaluated for economic potential and inform future work
programmes in the license area. Data acquisition, orebody modelling
and evaluation is expected to yield results within four months of
commencement.
The exploration priorities detailed above will provide a deeper
understanding of the mineral potential within the licence areas
held by AfriTin in Namibia. The advancement of these programmes
will contribute to expanding the Company's metal inventory,
diversifying production and consolidating its tech metal
exposure.
AfriTin Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO
Nominated Adviser +44 (0) 207 220 1666
WH Ireland Limited
Katy Mitchell
Corporate Advisor and Joint Broker
H&P Advisory Limited
Andrew Chubb
Jay Ashfield
Nilesh Patel +44 (0) 20 7907 8500
Turner Pope Investments
Andy Thacker
James Pope +44 (0) 20 3657 0050
Tavistock Financial PR (United
Kingdom) +44 (0) 207 920 3150
Jos Simson
Nick Elwes
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining Limited is the first pure tin company listed in
London and its vision is to create a portfolio of globally
significant, conflict-free, tin-producing assets. The Company's
flagship asset is the Uis Tin Mine in Namibia, formerly the world's
largest hard-rock open cast tin mine.
AfriTin is managed by an experienced board of directors and
management team with a current strategy to ramp-up production at
the Uis Tin Mine in Namibia to 10,000 tonnes of concentrate in a
Phase 2 expansion, having reached Phase 1 commercial production in
2020. 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.
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