TIDMATM
RNS Number : 5710I
AfriTin Mining Ltd
05 December 2022
5 December 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. All 50 drill holes have been completed
and are being processed. The results of 25 previous holes were
announced on 8 June 2022, 20 July 2022, 10 October 2022 and 22
November 2022. This announcement reports the assay results of the
next 5 drill holes (Figure 1). The results of the outstanding 20
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 90 m at 0.164% Sn, 73 ppm Ta, and 1.40% Li(2) O from 134 m to
224 m; and 12 m at 0.159% Sn, 182 ppm Ta, and 0.59% Li(2) O from
115 m to 127 m for drill hole V1V2062;
o 96 m at 0.150% Sn, 68 ppm Ta and 0.72% Li(2) O from 142 m to
238 m for hole V1V2039;
o 71 m at 0.166% Sn, 81 ppm Ta, and 1.05% Li(2) O from 157 m to
228 m; and 10 m at 0.091% Sn, 323 ppm Ta and 0.41% Li(2) O from 139
m to 149 m for drill hole V1V2065;
-- These results include some of the drilling programme's most
notable intersections of lithium mineralisation within the
pegmatite intersections:
o 76 m at 1.56% Li(2) O from 136 m to 212 m for drill hole
V1V2062;
o 26 m at 1.00% Li(2) O from 180 m to 206 m for drill hole
V1V2039; and
o 25 m at 1.65% Li(2) O from 193 m to 218 m for drill hole
V1V2065.
Anthony Viljoen (CEO) commented:
"These exploration drill results contain the highest average
lithium grade for a full pegmatite intersection within the V1/V2
pegmatite ore body to date, namely 90m at an average Li(2) O
content of 1.40%. This intersection includes a continuous portion
of 76 m at 1.56% Li(2) O. The lithium grade of the V1/V2 pegmatite
appears to increase with depth, and the Company intends to further
explore the down dip potential of this pegmatite. We look forward
to the potential upgrade of our mineral resource estimate and
advancing our lithium and tantalum product development programmes
at Uis."
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 have coalesced. The dip angle of the
pegmatites varies from 24 degrees to 48 degrees and the drill holes
are orientated vertically such that reported intersections
represent apparent thickness.
Drill hole V1V2039 deflected towards the west while drilling and
as a result the hole was terminated within ore to avoid superfluous
drilling down the dip of the pegmatite. The deeper drill holes from
this programme appear to intersect greater volumes of pegmatite,
and these deeper extensions may also contain higher lithium grades
as indicated below.
Table 1 : Exploration results of RC drill holes V1V2060,
V1V2062, V1V2039, V1V2065, and V1V2029 indicating the full
pegmatite intersection and pegmatite grades as well as selected
higher grades within the pegmatites as per the highlights.
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) excluding
Waste
--------- --------------- ----------- --------------- -------------- ------------- -----------------------------
Sn (%) Ta (ppm) Li2O (%)
--------- --------------- ----------- --------------- -------------- ------------- ------- --------- ---------
Whole
V1V2060 Vertical V2 Intersection 36-42 6.00 0.075 170 0.36
--------- --------------- ----------- --------------- -------------- ------------- ------- --------- ---------
Whole Intersection 43-60 17.00 0.129 95 0.48
----------------------------------------------------- -------------- ------------- ------- --------- ---------
V1 Whole Intersection 73-83 10.00 0.159 89 0.50
----------- ----------------------------------------- -------------- ------------- ------- --------- ---------
Whole Intersection 84-101 17.00 0.137 98 0.49
----------------------------------------------------- -------------- ------------- ------- --------- ---------
Whole Intersection 104-143 39.00 0.143 89 0.62
----------------------------------------------------- -------------- -------------
Whole
V1V2062 Vertical V2 Intersection 115-127 12.00 0.159 182 0.59
--------------- ----------- --------------- -------------- -------------
V1 Whole Intersection 134-224 90.00 0.164 73 1.40
----------- ----------------------------------------- -------------- ------------- ------- --------- ---------
Including 136-212 76.00 0.167 72 1.56
Whole
V1V2039 Vertical V1/V2 Intersection 142-238 96.00 0.150 68 0.72
--------- --------------- ----------- ---------
Including 180-206 26.00 0.157 66 1.00
----------------------------------------------------- -------------- ------- ---------
Whole
V1V2065 Vertical V2 Intersection 139-149 10.00 0.091 323 0.41
--------------- ----------- --------------- -------------- ------------- ------- --------- ---------
V1 Whole Intersection 157-228 71.00 0.166 81 1.05
----------- ----------------------------------------- -------------- ------------- ------- --------- ---------
Including 193-218 25.00 0.163 65 1.65
----------------------------------------------------- -------------- ------------- ------- --------- ---------
Whole
V1V2029 Vertical V2 Intersection 16-34 18.00 0.111 108 0.54
--------------- ----------- --------------- -------------- ------------- ------- --------- ---------
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. Full details of the pegmatite intersections for drill
hole V1V2060 are reported in Table 1.
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
this 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
(Economic Geology, 1968, vol 63, pp 188-189).
Dip Angle The angle of inclination measured downward from horizontal
-------------------------------------------------------------------------------------------------
Geological Model The interpretation of mineralisation and geology applicable to an ore body. 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
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.
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