TIDMATM
RNS Number : 1852H
AfriTin Mining Ltd
22 November 2022
22 November 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, announces further results from the lithium and tantalum
drilling programme at the Company's flagship operation, the Uis
Mine ("Uis").
The 50-hole drilling programme, comprising 29 diamond and 21
reverse circulation (RC) drill holes, aims to increase the
confidence of the existing lithium and tantalum mineral resource
estimates over the deposit. A total of 49 drill holes have been
completed and are being processed. The results of 20 previous holes
were announced on 8 June 2022, 20 July 2022 and 10 October 2022.
This announcement reports the assay results of the next 5 drill
holes (Figure 1). The results of the outstanding 24 drill holes
will be provided once received.
Highlights:
-- Pegmatite was intersected in all holes at depths and apparent
widths predicted by the geological model;
-- Significant pegmatite intersections include:
o 114 m at 0.151% Sn, 75 ppm Ta, and 0.63% Li(2) O within drill
hole V1V2042, from 116 m to 230 m;
o 108 m at 0.146% Sn, 65 ppm Ta and 0.65% Li(2) O for hole
V1V2046, from 101 m to 209 m;
o 75 m at 0.183% Sn, 76 ppm Ta, and 0.76% Li(2) O from 92 m to
167 m; and
o 23 m at 0.153% Sn, 102 ppm Ta and 0.46% Li(2) O from 57 m to
80 m for drill hole V1V2056.
-- Notable intersections of lithium mineralisation within the pegmatite intersections include:
o 10 m at 1.35% Li(2) O for drill hole V1V2042 from 211 m to 221
m; and
o 38 m at 1.00% Li(2) O for drill hole V1V2056 from 107 m to 145
m.
Anthony Viljoen (CEO) commented:
"We are pleased to announce these exploration drill results
which are once again in line with our high expectations for the
V1/V2 pegmatite ore body. The drill holes reported in this
announcement are distributed over the entire strike of the
pegmatite and are indicative of the consistency of the lithium, tin
and tantalum mineralisation. We are particularly encouraged by the
lithium grades intersected in drill holes V1V2042 and V1V2056,
which further demonstrate the unrealised potential of the Uis
orebody. As we near the end of this exploration programme, we look
forward to upgrading the mineral resource estimate in support of
our by-product development projects for tantalum and lithium."
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 at shallow depths where the
V1 and V2 bodies have bifurcated into individual units, as well as
greater depths where the units coalesce to form a single unit. The
dip angle of the pegmatites varies from 24 degrees to 48 degrees
and the reported drill holes are orientated vertically such that
reported intersections represent apparent thickness.
Table 1 : Exploration results of RC drill holes V1V2031,
V1V2042, V1V2046, V1V2056, and V1V2078 indicating the full
pegmatite intersection and pegmatite grades. Intersections are
indicative of apparent thickness and not true thickness; note that
apparent thickness is greater than true thickness .
Hole ID Dip Angle Pegmatite From/To (m) Interval (m) Grade
(Degrees) Including Waste
-------- ---------------- ---------- ---------------- --------------- ------------
Sn (%) Ta (ppm) Li(2) O (%)
-------- ---------------- ---------- ---------------- --------------- ------------ ------ -------- -----------
Whole
V1V2031 Vertical V2 Intersection 162 - 194 32 0.146 83 0.61
---------------- ---------- ---------------- --------------- ------------ ------ -------- -----------
Whole
V1V2042 Vertical V1/V2 Intersection 116 - 230 114 0.151 75 0.63
---------------- ---------- ---------------- --------------- ------------ ------ -------- -----------
Including 211 - 221 10 0.152 39 1.35
----------------------------------------------------- --------------- ------------ ------ -------- -----------
Whole
V1V2046 Vertical V1/V2 Intersection 101 - 209 108 0.146 65 0.65
---------------- ---------- ---------------- --------------- ------------ ------ -------- -----------
Whole
V1V2056 Vertical V2 Intersection 57 - 80 23 0.153 102 0.46
---------------- ---------- ---------------- --------------- ------------ ------ -------- -----------
V1 Whole Intersection 92 - 167 75 0.183 76 0.76
---------- ------------------------------------------ --------------- ------------ ------ -------- -----------
Including 107 - 145 38 0.186 82 1.00
----------------------------------------------------- --------------- ------------ ------ -------- -----------
Whole
V1V2078 Vertical V1 Intersection 37 - 47 10 0.089 181 0.36
---------------- ---------- ---------------- --------------- ------------ ------ -------- -----------
The drilling method for the holes in Table 1 is reverse
circulation (RC). Each drill hole was geologically logged before
being sampled at one-meter intervals. Sample analysis was
undertaken by UIS Analytical Services, a certified independent
laboratory, using a peroxide fusion; ICP-OES analysis was utilised
for major and minor elements and ICP-MS was utilised for the trace
elements.
Figure 1: Map displaying the localities of the reported holes,
the drill holes of the previous (2019) exploration programme and
the holes from the current programme previously reported. Line A-A'
indicates the area represented by the cross section (Fig.2).
Figure 2: Section line A-A' displaying a projection of the holes
drilled during the current programme for which the results are
reported in this release and previous communications for this
programme.
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 the
Principal Consultant - Battery Metals co-ordinator for CSA Global
and has 22 years of industry related exploration as well as mineral
project development experience and is a Competent Person for the
reporting of these 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
-----------------------------------------------------------------------------------------------
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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