TIDMATM

RNS Number : 4250H

AfriTin Mining Ltd

24 November 2022

24 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")

Regional Exploration Update - Lithium, Tin and Tantalum

Significant Mineralisation Potential at Surface, 35 km from Flagship Uis Mine

AfriTin Mining Limited (AIM: ATM), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, is pleased to provide an update on the exploration activities undertaken over its mining licence ML133, located approximately 35 km south-east of the Company's Uis Mine.

The exploration programme has been conducted over a 12-month period commencing in Q4 2021, and included aerial surveys, regional and high-resolution geological mapping, and surface chip sampling. The programme targeted outcropping pegmatites, many of which were found to contain lithium, tin, and tantalum.

Highlights:

-- More than 100 pegmatites were outlined by detailed geological mapping over the licence areas of approximately 3,200 hectares;

   --      Sampling consisted of 79 pegmatite chip sample profiles over 64 selected pegmatites; 

-- Chip sample results, sampled across the width of selected pegmatites on a 1m interval, included:

o 13 m at 1.93 % Li(2) O, 0.10% Sn, and 36 ppm Ta from sample line T78;

o 24 m at 1.65% Li(2) O, 0.15% Sn, and 52 ppm Ta from sample line T72;

o 20 m at 0.97 % Li(2) O, 0.12% Sn, and 172 ppm Ta from sample line T36;

o 14 m at 1.33 % Li(2) O, 0.17% Sn, and 118 ppm Ta from sample line T71;

o 11 m at 0.93 % Li(2) O, 0.17% Sn, and 149 ppm Ta from sample line T24;

o 4 m at 2.44 % Li(2) O, 0.07% Sn, and 43 ppm Ta for sample line T76;

-- The weighted average of the 20 highest lithium grade sample lines combined provides 200 m at 1.25% Li(2) O (composite of Table 1); and

-- The Company intends to proceed with the next phase of exploration, including scout drilling, and initial metallurgical test work.

Anthony Viljoen (CEO) commented:

"We are especially excited about these initial exploration results. It confirms our belief that the pegmatites of the ML133 licence could contain significant lithium, tin and tantalum mineralisation. We intend to advance the next stage of our work programme over this area, including exploration drilling and initial metallurgical test work.

Proximity of the test area to the Uis Mine, which is our operating facility with comparable types of mineralisation, presents potential development synergies.

AfriTin's portfolio of operating and exploration assets in Namibia underpins our goal of becoming a major producer of technology metals. We believe the prospectivity of our tenements justify accelerating the exploration and development programmes aimed at realising near-term value for our stakeholders."

Locality

AfriTin's mineral licence ML133 is located approximately 35 km south-east of the Uis Mine (Figure 1). It can be accessed by road from the Uis Mine, and is also connected to the port of Walvis Bay to the south-west. It is the site of the historical Tin Tan Mine which produced tin and tantalum during the late 1980's.

Figure 1 : AfriTin's Uis Mine and mineral licence locality map showing the position of ML133

Exploration Programme

Following an extensive desktop study, an exploration programme was launched over ML133, which included remote sensing to produce regional geological maps using high-resolution (5cm) imagery over the priority target area, followed by detailed on-site mapping of selected areas. Chip samples were taken over selected pegmatites and analysed for lithium, tin, and tantalum. The sample profiles were orientated perpendicular to strike, with each sample being composited over the length of one meter. The pegmatites were chipped with the utilisation of a rock breaker, and the liberated material was then collected in a sample bag until 15-25 kg of material had been obtained. The samples were then processed and analysed for their trace element content by ICP-MS methods at an independent ALS laboratory.

This programme identified numerous pegmatites with notable indications of lithium, tin and tantalum mineralisation. The values in Table 1 represent the average grade over the length of the entire sample line. The weighted average of the sample lines in Table 1 combined (composite of the values) provides 200 m at 1.25% Li2O.

Table 1 : Selected results from the chip sampling programme on mining license ML133. The entire dataset is in Appendix A.

 
 Sample    Pegmatite    Length   Li(2)    Sn (%)   Ta (ppm) 
   Line                   (m)     O (%) 
   T24        P51         11      0.93     0.17      149 
          -----------  -------  -------  -------  --------- 
   T27        P45         22      0.78     0.18       53 
          -----------  -------  -------  -------  --------- 
   T29        P45         2       2.89     0.06       24 
          -----------  -------  -------  -------  --------- 
   T31        P43         13      1.05     0.14       65 
          -----------  -------  -------  -------  --------- 
   T36        P63         20      0.97     0.12      172 
          -----------  -------  -------  -------  --------- 
   T39        P68         5       1.20     0.16       60 
          -----------  -------  -------  -------  --------- 
   T62        P246        9       1.56     0.09       48 
          -----------  -------  -------  -------  --------- 
   T68        P154        6       1.37     0.10      163 
          -----------  -------  -------  -------  --------- 
   T70        P155        10      1.20     0.14       54 
          -----------  -------  -------  -------  --------- 
   T71        P158        14      1.33     0.17      118 
          -----------  -------  -------  -------  --------- 
   T72        P163        24      1.65     0.15       52 
          -----------  -------  -------  -------  --------- 
   T73        P163        15      1.21     0.13       53 
          -----------  -------  -------  -------  --------- 
   T74        P163        3       0.86     0.07      136 
          -----------  -------  -------  -------  --------- 
   T75        P186        3       1.14     0.18       85 
          -----------  -------  -------  -------  --------- 
   T76        P188        4       2.44     0.07       43 
          -----------  -------  -------  -------  --------- 
   T77        P193        14      1.24     0.12       38 
          -----------  -------  -------  -------  --------- 
   T78        P193        13      1.93     0.10       36 
          -----------  -------  -------  -------  --------- 
   T79        P197        6       0.81     0.08      111 
          -----------  -------  -------  -------  --------- 
   T83        P229        6       0.85     0.18      119 
          -----------  -------  -------  -------  --------- 
 

The exploration programme extracted 704 samples, each representing a one-meter interval along the surface and obtained from the 79 sample lines completed during this programme. The detailed mapping and sampling programme was designed to evaluate the variability of the pegmatite occurrences within the area. The results show that tin, lithium, and tantalum mineralisation occur together in some areas, but separately in others.

The ore minerals for tin and tantalum within the project area appear to be cassiterite and columbite-group minerals respectively. A follow-up site visit was undertaken to those sample areas with enhanced lithium grades. Grab samples taken during this visit indicate that the main lithium bearing mineral is petalite, with lesser occurences of spodumene and lepidolite.

Future Work

Continued geological mapping and sampling is planned for the mineralisation trends within the license area, and an initial focus will be the mapped area north of the historical Tin Tan mine since this zone appears to be preferentially enriched in lithium. These mineralised pegmatites generally strike in a northeast-southwest direction with a near vertical dip. In addition, a scout exploration drilling programme is planned, with the aim to characterise the nature of these intrusions at depth.

In addition, the Company has initiated metallurgical test work on selected mineralised bulk samples from historical mining rock dumps to determine the beneficiation characteristics of the material. The initial test work is designed as pilot scale dense medium separation tests.

The results of the exploration programme and test work will inform the Company's development strategy for ML133.

Competent Person

The technical data in this announcement has been reviewed by Laurence Robb, a Non-Executive Director of AfriTin. Laurence Robb (BScHons, MSc, PhD, FGS, FGSSA, FRSSA) has more than 40 years of industry-related mineral project development experience. He is registered as a Professional Natural Scientist with The South African Council for Natural Scientific Professions, and Chartered Geologist with the Geological Society of London. He was Professor of Economic Geology and Director of the Economic Geology Research Institute in the University of the Witwatersrand's School of Geosciences. He is currently based at Oxford University as a Visiting Professor. He has reviewed the technical disclosures in this release and consents to the release of the information contained herein.

Glossary of abbreviations

 
 ICP-MS           Inductively Coupled Plasma-Mass Spectrometry (Super Trace DL Na2O2) 
 km               Kilometre 
                 -------------------------------------------------------------------- 
 Li               Symbol for Lithium 
                 -------------------------------------------------------------------- 
 Li -> Li (2) O   Metal to metal-oxide conversion factor of 2.153 
                 -------------------------------------------------------------------- 
 Li (2) O         Lithium oxide 
                 -------------------------------------------------------------------- 
 m                Metre 
                 -------------------------------------------------------------------- 
 PPM              Parts Per Million 
                 -------------------------------------------------------------------- 
 Sn               Symbol for Tin 
                 -------------------------------------------------------------------- 
 Ta               Symbol for Tantalum 
                 -------------------------------------------------------------------- 
 

Glossary of Technical Terms

 
 Dense Medium Separation   An ore beneficiation method in which minerals of relatively high or low specific gravity 
                           are 
                           separated from gangue using a hydrocyclone and a dense medium. 
 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 
  Andrew de Andrade 
 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 
  Varun Talwar                         +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.

Appendix A: Results for all the sampling lines, the results represent the average grade of each element over the sampled length of the line.

 
 Sample     Pegmatite     Length (m)   Li(2)    Sn (%)   Ta (ppm) 
   Line                                 O (%) 
   T01          P5            5         0.35     0.05       26 
          -------------  -----------  -------  -------  --------- 
   T02         P21            24        0.02     0.03       14 
          -------------  -----------  -------  -------  --------- 
   T03         P248           1         0.01     0.03       68 
          -------------  -----------  -------  -------  --------- 
   T04         P14            38        0.04     0.03       24 
          -------------  -----------  -------  -------  --------- 
   T05         P16            14        0.04     0.02       16 
          -------------  -----------  -------  -------  --------- 
   T06         P13            2         0.01     0.07      153 
          -------------  -----------  -------  -------  --------- 
   T07     Grab Sample        1         0.08     0.54      486 
          -------------  -----------  -------  -------  --------- 
   T08          P1            2         0.03     0.08       72 
          -------------  -----------  -------  -------  --------- 
   T09          P2            20        0.07     0.23       72 
          -------------  -----------  -------  -------  --------- 
   T10         P24            4         0.03     0.03       39 
          -------------  -----------  -------  -------  --------- 
   T11         P25            5         0.06     0.12       42 
          -------------  -----------  -------  -------  --------- 
   T12         P28            2         0.05     0.04       57 
          -------------  -----------  -------  -------  --------- 
   T13         P27            5         0.11     0.05       51 
          -------------  -----------  -------  -------  --------- 
   T14         P32            4         0.22     0.26      180 
          -------------  -----------  -------  -------  --------- 
   T15         P29            2         0.09     0.04       32 
          -------------  -----------  -------  -------  --------- 
   T16         P30            12        0.28     0.16       56 
          -------------  -----------  -------  -------  --------- 
   T17         P33            2         0.09     0.18       77 
          -------------  -----------  -------  -------  --------- 
   T18         P33            2         0.24     0.28      108 
          -------------  -----------  -------  -------  --------- 
   T19         P39            4         0.64     0.24       99 
          -------------  -----------  -------  -------  --------- 
   T20         P43            11        0.53     0.16      145 
          -------------  -----------  -------  -------  --------- 
   T21         P38            1         0.01     0.21       64 
          -------------  -----------  -------  -------  --------- 
   T22         P60            5         0.13     0.20       93 
          -------------  -----------  -------  -------  --------- 
   T23         P51            5         0.66     0.10      157 
          -------------  -----------  -------  -------  --------- 
   T24         P51            11        0.93     0.17      149 
          -------------  -----------  -------  -------  --------- 
   T25         P54            4         0.48     0.11      119 
          -------------  -----------  -------  -------  --------- 
   T26         P48            4         0.35     0.27       82 
          -------------  -----------  -------  -------  --------- 
   T27         P45            22        0.78     0.18       53 
          -------------  -----------  -------  -------  --------- 
   T28         P47            5         0.33     0.15       84 
          -------------  -----------  -------  -------  --------- 
   T29         P45            2         2.89     0.06       24 
          -------------  -----------  -------  -------  --------- 
   T30         P50            5         0.32     0.04      125 
          -------------  -----------  -------  -------  --------- 
   T31         P43            13        1.05     0.14       65 
          -------------  -----------  -------  -------  --------- 
   T32         P56            3         0.17     0.48       98 
          -------------  -----------  -------  -------  --------- 
   T33         P57            1         0.11     0.24      121 
          -------------  -----------  -------  -------  --------- 
   T34         P43            6         0.09     0.08      220 
          -------------  -----------  -------  -------  --------- 
   T35         P57            2         0.34     0.10       23 
          -------------  -----------  -------  -------  --------- 
   T36         P63            20        0.97     0.12      172 
          -------------  -----------  -------  -------  --------- 
   T37         P72            3         0.03     0.02       16 
          -------------  -----------  -------  -------  --------- 
   T38         P64            18        0.27     0.04       57 
          -------------  -----------  -------  -------  --------- 
   T39         P68            5         1.20     0.16       60 
          -------------  -----------  -------  -------  --------- 
   T40         P72            1         0.03     0.02       21 
          -------------  -----------  -------  -------  --------- 
   T41         P77            11        0.04     0.03       31 
          -------------  -----------  -------  -------  --------- 
   T42         P88            14        0.02     0.15       66 
          -------------  -----------  -------  -------  --------- 
 Trench     Pegmatite     Length (m)   Li(2)    Sn (%)   Ta (ppm) 
                                        O (%) 
          -------------  -----------  -------  -------  --------- 
   T43         P86            1         0.05     0.02       13 
          -------------  -----------  -------  -------  --------- 
   T44         P86            1         0.05     0.01       15 
          -------------  -----------  -------  -------  --------- 
   T45         P88            9         0.06     0.05       32 
          -------------  -----------  -------  -------  --------- 
   T46         P104           3         0.01     0.15       60 
          -------------  -----------  -------  -------  --------- 
   T47         P111           12        0.08     0.05       23 
          -------------  -----------  -------  -------  --------- 
   T48         P100           9         0.03     0.04       20 
          -------------  -----------  -------  -------  --------- 
   T49         P93            7         0.01     0.35       72 
          -------------  -----------  -------  -------  --------- 
   T50         P98            5         0.03     0.09      111 
          -------------  -----------  -------  -------  --------- 
   T51         P102           13        0.05     0.06       22 
          -------------  -----------  -------  -------  --------- 
   T52         P114           23        0.06     0.01       27 
          -------------  -----------  -------  -------  --------- 
   T53         P88            20        0.02     0.01       9 
          -------------  -----------  -------  -------  --------- 
   T54         P88            32        0.04     0.01       19 
          -------------  -----------  -------  -------  --------- 
   T55         P88            22        0.02     0.02       24 
          -------------  -----------  -------  -------  --------- 
   T56         P88            4         0.02     0.01       30 
          -------------  -----------  -------  -------  --------- 
   T57         P88            3         0.02     0.01       14 
          -------------  -----------  -------  -------  --------- 
   T58         P88            30        0.02     0.02       20 
          -------------  -----------  -------  -------  --------- 
   T59         P119           1         0.01     0.01       9 
          -------------  -----------  -------  -------  --------- 
   T60         P113           15        0.04     0.02       13 
          -------------  -----------  -------  -------  --------- 
   T61         P126           3         0.40     0.11       81 
          -------------  -----------  -------  -------  --------- 
   T62         P246           9         1.56     0.09       48 
          -------------  -----------  -------  -------  --------- 
   T63         P138           2         0.05     0.29       93 
          -------------  -----------  -------  -------  --------- 
   T64         P136           2         0.65     0.10       45 
          -------------  -----------  -------  -------  --------- 
   T65         P148           5         0.05     0.20       76 
          -------------  -----------  -------  -------  --------- 
   T66         P151           10        0.05     0.02       13 
          -------------  -----------  -------  -------  --------- 
   T67         P152           8         0.06     0.01       15 
          -------------  -----------  -------  -------  --------- 
   T68         P154           6         1.37     0.10      163 
          -------------  -----------  -------  -------  --------- 
   T69         P173           3         0.02     0.01       12 
          -------------  -----------  -------  -------  --------- 
   T70         P155           10        1.20     0.14       54 
          -------------  -----------  -------  -------  --------- 
   T71         P158           14        1.33     0.17      118 
          -------------  -----------  -------  -------  --------- 
   T72         P163           24        1.65     0.15       52 
          -------------  -----------  -------  -------  --------- 
   T73         P163           15        1.21     0.13       53 
          -------------  -----------  -------  -------  --------- 
   T74         P163           3         0.86     0.07      136 
          -------------  -----------  -------  -------  --------- 
   T75         P186           3         1.14     0.18       85 
          -------------  -----------  -------  -------  --------- 
   T76         P188           4         2.44     0.07       43 
          -------------  -----------  -------  -------  --------- 
   T77         P193           14        1.24     0.12       38 
          -------------  -----------  -------  -------  --------- 
   T78         P193           13        1.93     0.10       36 
          -------------  -----------  -------  -------  --------- 
   T79         P197           6         0.81     0.08      111 
          -------------  -----------  -------  -------  --------- 
   T80         P198           5         0.63     0.18       80 
          -------------  -----------  -------  -------  --------- 
   T81         P219           6         0.01     0.01       12 
          -------------  -----------  -------  -------  --------- 
   T82         P223           4         0.13     0.37      145 
          -------------  -----------  -------  -------  --------- 
   T83         P229           6         0.85     0.18      119 
          -------------  -----------  -------  -------  --------- 
   T84         P223           1         0.67     0.35      106 
          -------------  -----------  -------  -------  --------- 
 

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