TIDMATM
RNS Number : 4608C
AfriTin Mining Ltd
11 October 2022
11 October 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 Update
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 results for the lithium and
tantalum infill drilling programme at the Company's flagship
operation, the Uis Mine ("Uis").
The infill drilling programme is being conducted over the V1/V2
pegmatite at Uis, which is currently being mined to produce a tin
concentrate. The 50-hole drilling programme aims to increase the
confidence of the existing lithium and tantalum mineral resource
estimates over the deposit; 47 drill holes have been completed and
are being processed. The results of 9 previous diamond drill (DD)
holes were announced on 8 June 2022 and 20 July 2022, and this
announcement reports the assay results of the next 11 drill holes,
comprising both diamond and reverse circulation (RC) drilling
(Figure 1). The results of the outstanding 27 drill holes will be
provided when received.
Highlights:
-- Significant pegmatite intersections include:
o 35 m at 0.149% Sn, 77 ppm Ta, and 0.94% Li(2) O within drill
hole V1V2032, from 150 m to 185 m;
o 25 m at 0.197% Sn, 140 ppm Ta and 0.60% Li2O for hole V1V2076,
from 46 m to 71 m;
o 34 m at 0.186% Sn, 116 ppm Ta, and 0.57% Li(2) O from 13 m to
48 m; and 0.92m at 5.154% Sn, 582 ppm Ta and 0.32% Li(2) O from 5 m
to 6 m for drill hole V1V2072.
-- Pegmatite was intersected in all holes at the depths and
apparent widths predicted by the geological model.
Anthony Viljoen (CEO) commented:
"We are pleased to report these exploration drill results which
are very much in line with our high expectations. They relate to
the north-eastern portion of the V1/V2 pegmatite ore body, which is
an area known to contain higher tantalum and tin grades. For the
pegmatite intersections reported here, the average tantalum grade
is approximately 40% higher than the average of the existing
mineral resource estimate (119 ppm vs 85 ppm), and the tin grade is
approximately 30% higher than the average of the resource estimate
(0.174% vs 0.134%).
The infill drill programme continues to deliver results that we
believe confirm the scale and quality of the deposit. We look
forward to upgrading our mineral resource estimate and bringing on
tantalum and lithium by-product revenue streams alongside our
existing tin production."
Exploration Programme
The current exploration programme aims to upgrade the existing
resource classification for lithium and tantalum over the areas
where tin is currently classified within the measured and indicated
categories for the 2019 JORC (2012) compliant mineral resource
estimate (MRE) (see announcement dated 16 September 2019). The
pegmatite intersections of the reported holes align with the
current geological model, confirming its spatial accuracy. The
drill holes intersected the pegmatite where the V1 and V2 bodies
have bifurcated into individual units, and in some holes the V1
pegmatite has an offshoot into the hanging wall (referred to as the
V1 Upper in Table 1). The dip angle of the pegmatites varies from
24 degrees to 48 degrees and the majority of the reported drill
holes are orientated vertically such that reported intersections
represent apparent thickness.
Table 1 : Exploration results of diamond drill holes V1V2028,
V1V2032, V1V2070, V1V2072, V1V2075, and V1V2077 and RC drill holes
V1V2069, V1V2071, V1V2074, V1V2076 and V1V2079 indicating the
pegmatite intersection widths and pegmatite grades. Intersections
indicate apparent thickness and not true thickness. The apparent
thickness is greater than the true thickness .
Hole ID Dip Angle Drill Pegmatite Pegmatite Pegmatite Intersection Grade
(Degrees) type Intersection, Intersection, Length (m)
Including Excluding
Waste, Waste,
From/To (m) From/To (m)
Sn (%) Ta Li2O
(ppm) (%)
------- -------- --------
V1V2028 Vertical DD V2 121-136 121.39-135.40 14.01 0.131 95 0.38
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1V2032 -81 DD V2 149-185 149.92-185.16 35.24 0.149 77 0.94
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1V2070 Vertical DD V1 69-108 69.32-108.06 38.74 0.177 147 0.49
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1V2072 Vertical DD V1 5-48 5.11-6.03 0.92 5.154 582 0.32
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
6.93-12.04 5.11 0.186 143 0.38
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
13.32-47.88 34.56 0.186 116 0.57
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1V2075 Vertical DD V1 52-98 52.22-58.61 6.39 0.102 138 0.51
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
59.55-93.42 33.87 0.121 98 0.76
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
95.03-97.97 2.94 0.040 275 0.28
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1V2077 Vertical DD V1 21-41 21.56-22.31 0.75 0.056 50 0.41
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
23.48-41.21 17.73 0.283 128 0.37
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1V2069 Vertical RC V1 Upper 75-82 75.00-82.00 7 0.095 215 0.26
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1 91-154 91.00-147.00 56 0.193 109 0.42
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1V2071 Vertical RC V1 31-86 31.00-86.00 55 0.165 94 0.49
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1V2074 Vertical RC V1 72-105 72.00-105.00 33 0.155 122 0.47
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1V2076 Vertical RC V1 Upper 2-19 2.00-19.00 17 0.083 108 0.47
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1 46-71 46.00-71.00 25 0.197 140 0.6
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
V1V2079 Vertical RC V1 69-105 69.00-105.00 36 0.141 151 0.52
---------- ------- ---------- -------------- -------------- ------------- ------- -------- --------
The drilled holes comprised reverse circulation drilling (RC)
and diamond drilling (DD). Each drill hole was geologically logged
with the DD drill holes also being geotechnically logged before
sampling at approximately one-meter intervals. Sample analysis was
undertaken by UIS Analytical Services, a certified independent
laboratory, using a peroxide fusion and analysis, with ICP-OES
utilised for major and minor elements and ICP-MS utilised for trace
elements.
Figure 1: Map displaying the localities of the reported holes,
together with the drill holes from a previous (2019) exploration
programme and holes from the current programme previously reported.
The line A-A' indicates the area represented by the cross section
in Figure 2.
Figure 2: Section line A-A' displaying a projection of the holes
drilled during the current programme for which results are reported
in this release
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 for CSA Global and has 22
years of industry related exploration and mineral project
development experience, as well as 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
DD Diamond Drilling
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
-----------------------------------------------------------------------------------------------
RC Reverse Circulation drilling
-----------------------------------------------------------------------------------------------
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 based on the formula by Addie
(1968 Economic Geology, vol 63, pp 188-189)
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
-------------------------------------------------------------------------------------------------
Xenolith A foreign rock fragment (e.g. schist) within an intrusive body (e.g. pegmatite) that is
unrelated
to the igneous body.
-------------------------------------------------------------------------------------------------
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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