TIDMATM

RNS Number : 2914D

AfriTin Mining Ltd

02 March 2022

2 March 2022

AfriTin Mining Limited

("AfriTin" or the "Company")

Lithium (Spodumene) Discovery on AfriTin Mining License

AfriTin Mining Limited (AIM: ATM), an African tech-metals mining company with a portfolio of mining and exploration assets in Namibia, is pleased to announce the discovery of spodumene, a lithium-bearing mineral, within its fully permitted mining license ML 129, situated 11 kilometres SW of the Company's flagship asset, the Uis Tin Mine ("Uis").

Link to Map: https://afritinmining.com/lithium-spodumene-discovery-on-afritin-mining-license-map/

Highlights:

-- Lithium-bearing spodumene identified within multiple pegmatites located on adjacent mining licence ML 129;

-- Discovery lies within the operational limits of the current Uis Tin Mine processing facility;

   --      Spodumene complements the Company's existing pegmatite hosted lithium resource at Uis; and,

-- This discovery is the first result of an extensive early-stage regional exploration programme.

Anthony Viljoen (CEO) commented:

"The discovery of spodumene during our current exploration programme is an exciting development that highlights the significant potential of our licence areas in Namibia and provides a promising target for AfriTin's operations within the region. I am delighted by this new discovery, which reaffirms our development goals and supports the overall strategy of building a diverse portfolio of technology metals.

The Company intends to conduct an exploration drilling programme on this target during 2022, with the aim of adding to our existing lithium resource at Uis. Lithium from these sources can be of interest to both technical and chemical lithium markets, the latter finding application in lithium-ion batteries."

The discovery of spodumene, the primary mineral used in the production of lithium-ion batteries, was achieved under the Company's regional exploration programme over historical mine workings and greenfield opportunities in central Namibia. The mineralised pegmatites have a combined strike length of approximately 2 km and occur within the adjacent fully permitted mining licence, ML 129. They occur in close proximity to an existing arterial road and fall within the operational limits of the Uis Tin Mine.

The presence of spodumene within the pegmatites was confirmed through laboratory X-Ray diffraction analysis of surface grab samples. Four of the five samples collected returned positive results, the best of which yielded a whole rock spodumene content of 10%. Follow-up field observations have subsequently identified additional surface exposures of similar pegmatite type along strike. Whilst it is an early stage discovery, and significant work is required to fully understand these results, it is nevertheless an exciting development that underpins the Company's confidence in the prospectivity of ML129.

AfriTin's mining licence, ML 134, on which the Uis Tin Mine is situated, hosts a JORC (2012) compliant mineral resource containing approximately 450,000 tonnes of Li(2) O, with the primary lithium ore mineral identified as petalite (see announcement dated 16 September 2019). The spodumene identified on ML 129 indicates the potential for broadening the range of AfriTin's strategic mineral portfolio and furthering the Company's objective of establishing an inventory of technology metals.

Glossary of abbreviations

 
 km        kilometres 
 Li        Symbol for Lithium 
 Li (2)    Lithium oxide 
  O 
 Li ->     Metal to metal-oxide conversion factor of 2.153 
  Li (2) 
  O 
 JORC      The Australasian Code for Reporting of Exploration Results, 
            Mineral Resources and Ore Reserves 
 SW        South-west 
 
 
 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 
 Stifel Nicolaus Europe Limited 
  Ashton Clanfield 
  Callum Stewart                       +44 (0) 20 7710 7600 
 Tavistock Financial PR (United 
  Kingdom)                             +44 (0) 207 920 3150 
 Jos Simson 
  Oliver Lamb 
  Nick Elwes

About AfriTin Mining Limited

Notes to Editors

AfriTin Mining Limited is a London-listed tech-metals mining company with a vision to create a portfolio of globally significant, conflict-free, 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 tin concentrate and 350,000 tonnes of lithium 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 and lithium by developing a critical mass of resource inventory, achieving production in the near term and further scaling production by consolidating 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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DRLSSEESFEESEID

(END) Dow Jones Newswires

March 02, 2022 02:00 ET (07:00 GMT)

Andrada Mining (LSE:ATM)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Andrada Mining Charts.
Andrada Mining (LSE:ATM)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Andrada Mining Charts.