TIDMATM
RNS Number : 1224O
AfriTin Mining Ltd
08 June 2022
08 June 2022
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in
the United Kingdom pursuant to the European Union (Withdrawal) Act
2018. Upon the publication of this announcement via Regulatory
Information Service (RIS), this inside information is now
considered to be in the public domain.
AfriTin Mining Limited
("AfriTin" or the "Company")
Lithium and Tantalum Infill Drill Programme, Initial Results
AfriTin Mining Limited (AIM: ATM), an African technology metals
mining company with a portfolio of mining and exploration assets in
Namibia, is pleased to announce initial results for the lithium and
tantalum drilling programme at the Company's flagship operation,
the Uis Mine ("Uis").
The infill drilling programme is being conducted at the main
V1/V2 pegmatite at Uis, which is currently being mined to extract
tin, with a view to increasing the confidence of the existing
lithium and tantalum estimates for the deposit. The programme
consists of approximately 50 planned holes; drilling for 27 holes
has been completed. This announcement reports the assay results for
the first 4 holes.
Link to full PDF version with images:
https://afritinmining.com/lithium-and-tantalum-infill-drill-programme-initial-results/
Highlights:
-- Significant V1/V2 pegmatite intersections include:
o 132m at 0.168% Sn, 75 ppm Ta, and 0.74% Li (2) O for drill
hole V1V2049, from 124m to 256m;
o 110m at 0.171% Sn, 92 ppm Ta, and 0.75% Li (2) O for drill
hole V1V2057, from 92m to 202m;
-- Pegmatite intersected in all holes at depths and apparent
widths as predicted by the geological model;
-- Notable intersections of lithium mineralisation within the pegmatite include:
o 8m at 1.08% Li2O for drill hole V1V2036, from 140m to
148m;
o 10m at 1.05% Li2O for drill hole V1V2045, from 136m to
146m;
o 12m at 0.99% Li(2) O for drill hole V1V2049, from 231m to
243m; and
o 45m at 1.04% Li(2) O for drill hole V1V2057, from 136m to
181m.
Anthony Viljoen (CEO) commented:
"We are very pleased to announce these drilling results which
have produced lithium grades surpassing our expectations and
reinforce our belief that Uis is host to one of the largest lithium
resources globally. While the V1/V2 pegmatite displays impressive
dimensions and is open-ended at depth, a multitude of surrounding
pegmatites present significant upside potential.
"As a former mining operation, Uis has been extensively drilled
but historic assaying has focused solely on the tin with no regard
for the lithium or tantalum in the deposit. This programme will
increase the confidence of the current lithium and tantalum
estimates and is part of our strategy to bring these two
commodities into production alongside our tin operation.
"Our recently released preliminary economic assessment for the
Phase 2 Project in April (see announcement dated 26 April 2022)
highlighted the economic potential of these by-product elements
which are game changing. The construction of a new lithium pilot
plant will allow us to progress to commercial production phases
much faster than a new greenfield lithium resource elsewhere."
Exploration Programme
The Company initiated this programme with the aim of upgrading
the existing resource classification for lithium and tantalum over
the areas where tin is presently classified within the measured and
indicated categories for the JORC (2012) compliant mineral resource
estimate (MRE) established in 2019 (see announcement dated 16
September 2019). The mineralised intersections of the reported
holes are well aligned with the current geological model,
highlighting the veracity of the existing dataset. These drill
holes intersected the pegmatite where the V1 and V2 bodies have
amalgamated into a single larger unit. The dip angle of the
pegmatite varies from 24 degrees to 48 degrees across the unit.
1 Exploration results of holes V1V2036, V1V2045, V1V2049 and
V1V2057 including selected higher grade continuous lithium
intersections from each hole (width refer to the apparent
intersection)
Hole ID Inclina-tion Pegmatite Unit From (m) To (m) Width (m) Grade
Sn (%) Ta (ppm) Li2O (%)
------ -------- --------
V1V2036 Vertical V1/V2 whole intersection 136.87 183.42 46.55 0.191 101 0.74
------------- --------------- ------------------- -------- ------ --------- ------ -------- --------
including 140.00 148.00 8.00 0.109 95 1.08
---------------------------------------------------------- -------- ------ --------- ------ -------- --------
V1V2045 Vertical V1/V2 whole intersection 114.49 209.19 94.7 0.167 67 0.58
------------- --------------- ------------------- -------- ------ --------- ------ -------- --------
including 136.00 146.00 10.00 0.118 55 1.05
---------------------------------------------------------- -------- ------ --------- ------ -------- --------
V1V2049 Vertical V1/V2 whole intersection 124.19 256.05 131.86 0.168 75 0.74
------------- --------------- ------------------- -------- ------ --------- ------ -------- --------
including 231.00 243.00 12.00 0.176 100 0.99
---------------------------------------------------------- -------- ------ --------- ------ -------- --------
V1V2057 Vertical V1/V2 whole intersection 92.25 202.05 109.8 0.171 92 0.75
------------- --------------- ------------------- -------- ------ --------- ------ -------- --------
including 136.00 181.00 45.00 0.176 76 1.04
---------------------------------------------------------- -------- ------ --------- ------ -------- --------
The reported holes comprise diamond drilling; each hole was
vertically orientated with intersection widths being representative
of apparent thickness. Each drill hole was geologically, and
geotechnically logged before being cut and sampled. The samples
were taken at one-meter intervals wherever possible. Sample
analysis was undertaken by UIS Analytical Services, a certified
independent laboratory, with ICP-OES being utilised for major and
minor elements and ICP-MS being utilised for the reporting of trace
elements.
Competent Person Statement
The technical data in this announcement has been reviewed by
Michael Cronwright (M.Sc., FGSSA, Pr. Sci Nat. (Geological
Sciences)). He is a full-time employee of CSA Global, and provides
geological consulting services to AfriTin. Mr Cronwright is a
Principal Consultant - Battery Metals co-ordinator for CSA Global
and has 22 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. Mr
Cronwright consents to the release of the information contained in
the announcement and 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
ICP-MS Inductively Coupled Plasma-Mass Spectrometry
ICP-OES Inductively Coupled Plasma-Optical Emission Spectrometry
-----------------------------------------------------------------------------------------------
Li Symbol for Lithium
-----------------------------------------------------------------------------------------------
Li -> Li (2) O Metal to metal-oxide conversion factor of 2.153
-----------------------------------------------------------------------------------------------
Li (2) O Lithium oxide
-----------------------------------------------------------------------------------------------
JORC The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves
-----------------------------------------------------------------------------------------------
MRE Mineral Resource Estimate
-----------------------------------------------------------------------------------------------
PPM Parts Per Million
-----------------------------------------------------------------------------------------------
QA/QC Quality Assurance / Quality Control
-----------------------------------------------------------------------------------------------
Sn Symbol for Tin
-----------------------------------------------------------------------------------------------
Ta Symbol for Tantalum
-----------------------------------------------------------------------------------------------
V1/V2 Name of the targeted pegmatite unit, V1/V2 denotes where the V1 and V2 pegmatites have merged
at depth.
-----------------------------------------------------------------------------------------------
Glossary of Technical Terms
Apparent Thickness The relationship between apparent width and true thickness is: apparent width = x.y * true
thickness
Dip Angle The angle of inclination measured downward from horizontal
-------------------------------------------------------------------------------------------------
Geological Model The interpretation of mineralisation and geology that controls mineralisation. This is usually
generated in a three-dimensional computer environment
-------------------------------------------------------------------------------------------------
Mineral Resources Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred,
Indicated and Measured categories. An Inferred Mineral Resource has a lower level of confidence
than that applied to an Indicated Mineral Resource. An Indicated Mineral Resource has a higher
level of confidence than an Inferred Mineral Resource but has a lower level of confidence
than a Measured Mineral Resource
-------------------------------------------------------------------------------------------------
Pegmatite An igneous rock typically of granitic composition, which is distinguished from other igneous
rocks by the extremely coarse and systematically variable size of its crystals, or by an
abundance
of crystals with skeletal, graphic, or other strongly directional growth habits, or by a
prominent
spatial zonation of mineral assemblages, including monomineralic zones
-------------------------------------------------------------------------------------------------
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
Emily Moss
Catherine Drummond
Adam Baynes
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining Limited is a London-listed technology metals
mining company with a vision to create a portfolio of globally
significant, conflict-free, producing and exploration 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 Mine in Namibia to more than 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.
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