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.


-- 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 
---------  ---------------  -----------  ---------------  --------------  -------------  ----------------------------- 
                                                                                          Sn (%)   Ta (ppm)   Li2O (%) 
---------  ---------------  -----------  ---------------  --------------  -------------  -------  ---------  --------- 
 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 
   -----------------------------------------------------  --------------  ------------- 
 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 
 V1V2039       Vertical        V1/V2       Intersection       142-238         96.00       0.150       68        0.72 
---------  ---------------  -----------                                                           --------- 
                         Including                            180-206         26.00       0.157       66        1.00 
   -----------------------------------------------------  --------------                 -------             --------- 
 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 
   -----------------------------------------------------  --------------  -------------  -------  ---------  --------- 
 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 
                      of crystals with skeletal, graphic, or other strongly directional growth habits, or by a 
                      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 
                      to the igneous body. 
 AfriTin Mining Limited                +27 (11) 268 6555 
 Anthony Viljoen, CEO 
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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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