TIDMATM
RNS Number : 4721N
Andrada Mining Limited
23 January 2023
23 January 2023
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.
Andrada Mining Limited
("Andrada" or the "Company")
Uis Mine Mineral Resource Expansion
Additional Inferred Mineral Resource Estimate ("MRE") for
Tin
Andrada Mining Limited (AIM: ATM), an African technology metals
mining company with a portfolio of mining and exploration assets in
Namibia , announces an inferred, JORC (2012), MRE for tin over 11
historically mined pegmatite bodies located close to the actively
mined V1/V2 pegmatite at the Uis Mine. These 11 pegmatites have
been collectively termed the Proximal Pegmatites and are located
within a 3 km radius from the existing processing plant.
Highlights:
-- The V1/V2 pegmatite, as well as the Proximal Pegmatites are
located within the mining licence ML134 as part of a swarm
comprising more than 180 mineralised pegmatites;
-- The maiden MRE announced on 16 September 2019, of 71.54 Mt of
ore over the V1/V2 pegmatite, was based on information derived from
141 historical and 26 confirmatory drill holes;
-- An additional inferred MRE for tin over the Proximal
Pegmatites, derived from a further 809 historical drill holes,
comprises 57.18 Mt of ore with an average grade of 0.131% tin, and
containing 74,857 tonnes of tin metal has now been completed;
-- The historical drill hole information further indicates that
the Proximal Pegmatites remain open-ended at depth; and
-- Andrada is embarking on a confirmatory drilling programme to
improve the tin resource classification and to evaluate lithium and
tantalum potential of the Proximal Pegmatites.
Anthony Viljoen (CEO) commented: "The declaration of this
inferred resource, using the historical drill data from the Uis
Mine, significantly advances the total Andrada mineral inventory
towards management's internal mineral resource target of at least
200 Mt of mineralisation. These additional pegmatites, together
with the mineral resource at the V1/V2 orebody, provide an entire
resource portfolio of approximately 128 Mt of ore with a gross
combined content of 170 kt of tin, making Andrada the owner of one
of the largest tin assets globally. Furthermore, through our
demonstrated ability to rapidly and profitably scale up production
at the existing operations at the Uis mine, we believe Andrada has
the ability to compound the Company's economies of scale and
position the company as one of the lowest cost tech-metal producers
in the next five years.
The existing mineral reserve, that is currently being mined, as
well as the ongoing infill drilling programme over the entire
mining licence have also shown the potential of lithium
mineralisation contained within the same pegmatites. Andrada looks
forward to completing the work required to bring the lithium into
production, as well as expanding the infill drilling programme to
explore the huge opportunity that the Lithium presents as a
co-product revenue stream with the tin operation in the coming
months. Further announcements on this will be made in due
course."
Locality
The mining licence ML134 hosts the Uis Mine. The Uis town is
located approximately 200 km northeast of the port of Walvis Bay in
Namibia ( Figure 1 ).
Figure 1 : Andrada's Uis Mine and mineral licence locality map
showing the position of ML134.
Background
The mining licence of the Uis Mine (ML134) comprises a swarm of
more than 180 pegmatites. The historical Uis Mine focused on 12 of
these pegmatites which were mined by open cast methods before
operations were halted in 1990. During that time a comprehensive
exploration drilling programme was undertaken, resulting in an
extensive database with tin analyses. The 12 pegmatites are grouped
into three clusters, namely K, P, and V, as illustrated in Figure 2
.
Figure 2 : Map of the Proximal Pegmatites depicting modelled
clusters.
MRE - V1/V2 Pegmatite
On 16 September 2019 the Company announced a maiden MRE
comprising 71.54 Mt of ore over one of the 12 pegmatites, namely
the combined V1/V2 pegmatite. The MRE was derived from 141
historical drill holes and 26 confirmatory holes drilled by Andrada
during 2019.
MRE - Proximal Pegmatites
The balance of the historically mined pegmatites have been
incorporated into this report, based on a further 809 historical
drill holes. Minxcon (Pty) Ltd ("Minxcon"), a leading exploration
consultancy, was appointed to undertake the compilation of the tin
block model over the mineralised Proximal Pegmatites.
Mineralised envelopes were modelled using lithological logs
sourced from the surface drillholes and surface mapping of
geological contacts.
The wireframes were clipped to the drillhole data and extended
along interpreted strike and down-dip extensions. The mineralised
envelopes were modelled to define moderate (30deg) to steeply
(70deg) dipping pegmatitic zones which occur within the K, P and V
clusters. Individual clusters are characterised by one or two
dominant pegmatites, with numerous associated splay pegmatites.
Strikes vary from east-west to southwest-northeast, with variable
dips within the same cluster.
Geological, and geostatistical domains were delineated based on
lithological contacts. Each modelled pegmatite was treated as a
separate domain. Selected one-metre sample composites from within
the modelled mineralised envelopes, defined the final dataset used
for the geostatistical analysis and block model estimation. The
mineral resource estimates are spatially coincident, with
mineralisation confined to the pegmatite contacts. The pit shell
definition was based on an average tin price of USD 30,000/t with
ore losses and mining dilution set at 2%. The assumed pit slope
angles and metallurgical recovery for Sn were 55deg and 64%
respectively. Mining, treatment, G&A and selling cost
parameters were provided by Andrada and approved by Minxcon. The
open pit Mineral Resource figures are stated at a cut-off grade of
0.03% Sn.
Table 1 : Andrada Mining tin (Sn) Mineral Resource Estimate
(JORC 2012) for the Uis Proximal Pegmatites at a cut-off grade of
0.03% Sn.
Classification Gross Net Attributable (85%*)
Tonnage (Mt) Grade Contained Tonnage (Mt) Grade Contained Metal Operator
(% Sn) Metal (t) (% Sn) (t)
------------- -------- --------------- ------------- -------- ---------------- ---------------
Tin (Sn)
---------------- ------------- -------- --------------- ------------- -------- ---------------- ---------------
Proximal - - - - - -
Pegmatites
Measured
Resource
Proximal - - - - - -
Pegmatites
Indicated
Resource
Proximal
Pegmatites
Inferred
Resource 57.18 0.131 74,857 48.60 0.131 63,628 Andrada Mining
------------- -------- --------------- ------------- -------- ---------------- ---------------
Total Proximal
Pegmatite
Resource 57.18 0.131 74,857 48.60 0.131 63,628 Andrada Mining
------------- -------- --------------- ------------- -------- ---------------- ---------------
Source columns 1-4: Minxcon, Source columns 5-8: Andrada
Mining
Note: Tabulated data have been rounded off and this may result
in minor computational errors.
* Andrada has an attributable ownership of 85% in ML134 with the
remaining 15% owned by The Small Miners of Uis (local
shareholders)
Figure 3 : Plan view of the drillhole collars and drillhole
assay data for the Uis Proximal Pegmatites (source: Minxcon).
Table 2 : Andrada Mining tin (Sn) Inferred Mineral Resource
Estimates (JORC 2012) for the individual Uis Proximal Pegmatites at
a cut-off grade of 0.03% Sn.
Pegmatite Gross Net Attributable (85%*)
Tonnage (Mt) Grade (% Sn) Contained Tonnage (Mt) Grade (% Sn) Contained Operator
Metal (t) Metal (t)
------------- ------------- ------------- ------------- ------------- ------------- -------------
K Cluster
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
Andrada
K3 5.66 0.133 7,503 4.81 0.133 6,378 Mining
-------------
K3_1 1.47 0.115 1,694 1.25 0.115 140
-------------
K3_2 0.24 0.113 268 0.20 0.113 228
K3_3 0.49 0.110 535 0.42 0.110 455
K3_5 0.29 0.116 340 0.25 0.116 289
K5 18.58 0.139 25,910 15.79 0.139 22,024
K5_5 0.15 0.136 204 0.13 0.136 173
K7 0.83 0.137 1,140 0.71 0.137 969
K10 0.23 0.116 269 0.20 0.116 229
K10_1 0.32 0.118 382 0.27 0.118 325
------------- ------------- ------------- ------------- ------------- ------------- -------------
P Cluster
------------------------------------------------------------------------------------------------------- -------------
Andrada
P4 0.14 0.110 160 0.12 0.110 136 Mining
-------------
P4_2 0.32 0.129 417 0.27 0.129 354
-------------
P5 1.83 0.127 2,319 1.56 0.127 1,971
P6 1.05 0.125 1,320 0.89 0.125 1,122
P6_1 0.21 0.107 228 0.18 0.107 194
------------- ------------- ------------- ------------- ------------- ------------- -------------
V Cluster
------------------------------------------------------------------------------------------------------- -------------
Andrada
V4 0.81 0.104 845 0.69 0.104 718 Mining
-------------
V4_2 0.42 0.093 385 0.36 0.093 327
-------------
V4_3 0.11 0.093 103 0.09 0.093 88
V5 1.97 0.116 2,283 1.67 0.116 1,941
V5_1 0.04 0.098 41 0.03 0.098 35
V5_2 0.00 0.089 4 0 0.089 3
V12 11.44 0.133 15,259 9.72 0.133 12,970
V12_1 0.55 0.125 690 0.47 0.125 587
V12_2 1.41 0.098 1,386 1.20 0.098 1,178
V12_3 0.21 0.126 262 0.18 0.126 223
V12_4 0.01 0.080 9 0.01 0.080 8
V13 3.91 0.133 5,192 3.32 0.133 4,413
V13_1 0.36 0.128 457 0.31 0.128 388
V13_2 4.07 0.128 5,189 3.46 0.128 4,411
V13_3 0.04 0.150 63 0.03 0.150 54
------------- ------------- ------------- ------------- ------------- ------------- -------------
Total
Proximal
Pegmatite
Inferred Andrada
Resource 57.18 0.131% Sn 74,857 48.60 0.131% Sn 63,628 Mining
------------- ------------- ------------- ------------- ------------- ------------- -------------
Source columns 1-4: Minxcon; Source columns 5-8: Andrada
Mining
Note: Tabulated data have been rounded off and this may result
in minor computational errors.
* Andrada has an attributable ownership of 85% in ML134 with the
remaining 15% owned by The Small Miners of Uis (local
shareholders)
Figure 4 : Oblique view of the drillhole collars and drillhole
assay data for the Uis Proximal Pegmatites (source: Minxcon).
Although the historical data has a lower confidence due to the
absence of physical core, it is deemed sufficiently reliable by the
Competent Person to allow the declaration of an Inferred Mineral
Resource. The historical drillhole database has sufficient data
density (with a 25m to 50m grid spacing) to allow for the
estimation of a Measured or Indicated Mineral Resource if the
requisite QAQC constraints are in place and a confirmatory drilling
programme is undertaken. The Company carried out a confirmatory
drilling programme in 2018/2019 on the V1/V2 and determined that
the historical ISCOR drillhole data correlates well with the recent
check sampling. Accordingly, a Measured, Indicated and Inferred
Mineral Resource Estimate was declared in 2019 for the V1/V2
pegmatite by CSA Global (see announcement dated 16 September
2019).
[Note: JORC Table 1, Section 1 (Sampling Techniques and Data),
Section 2 (Reporting of Exploration Results) and Section 3
(Estimation and Reporting of Mineral Resources), is included in
Appendix 1]
Competent Person Statement
The technical data in this announcement has been reviewed by Uwe
Engelmann of Minxcon, who provides consulting services to Andrada.
Uwe Engelmann has 24 years of industry-related mining and
exploration experience and is a Competent Person for the reporting
of Mineral Resources. He is a registered Professional Natural
Scientist with the South African Council for Natural Scientific
Professions (Pr.Sci.Nat. Reg. No. 400058/08) and is a Fellow of the
Geological Society of South Africa. He has reviewed the technical
disclosures in this release and undertook the Mineral Resource
Estimation and classification for tin for the proximal pegmatites.
The Competent Person is independent of Andrada Mining Limited and
its subsidiaries.
Glossary of Abbreviations
Sn Elemental symbol for tin
JORC The Australasian Code for Reporting of
Exploration Results, Mineral Resources
and Ore Reserves
----------------------------------------
Mt Million tonnes
----------------------------------------
ppm Parts per million
----------------------------------------
T Metric tonnes
----------------------------------------
SMU Small Miners of Uis
----------------------------------------
ATM Ticker for Andrada Mining Limited
----------------------------------------
Glossary of Technical Terms
Cut-off Grade The grade above which Mineral Resources
have been reported in order to satisfy
the requirements for reasonable prospects
of eventual economic extraction
Geological Model The interpretation of mineralisation and
geology that controls mineralisation. This
is usually generated in a three-dimensional
computer environment.
---------------------------------------------------
Geostatistics A branch of statistics focussing on spatial
datasets and relating to the estimation
of elemental grades over a spatially modelled
orebody
---------------------------------------------------
Indicated Mineral The part of a Mineral Resource for which
Resource quantity, grade, quality, etc., can be
estimated with a level of confidence sufficient
to allow the appropriate application of
technical and economic parameters, to support
mine planning and evaluation of economic
viability
---------------------------------------------------
Inferred Mineral The part of a Mineral Resource for which
Resource quantity and grade or quality can be estimated
on the basis of geological evidence and
limited sampling and reasonably assumed,
but not verified, geological and grade
continuity
---------------------------------------------------
Measured Mineral The part of a Mineral Resource for which
Resource quantity, grade or quality, etc., are well
enough established that they can be estimated
with confidence sufficient to allow the
appropriate application of technical parameters
to support production planning and evaluation
of economic viability
---------------------------------------------------
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
---------------------------------------------------
Modifying Factors Considerations used to convert Mineral
Resources to Ore Reserves. These include,
but are not restricted to, mining, processing,
metallurgical, infrastructure, economic,
marketing, legal, environmental, social
and governmental factors.
---------------------------------------------------
Pegmatite An igneous rock typically of granitic composition,
that 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
---------------------------------------------------
For further information please visit the Company's website:
www.andradamining.com or contact:
Andrada Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO
Sakhile Ndlovu, Head of Investor Relations
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 +44 (0) 20 7710 7600
Ashton Clanfield
Callum Stewart
Varun Talwar
Tavistock Financial PR (United Kingdom) +44 (0) 207 920 3150
Emily Moss
Catherine Drummond
Adam Baynes
____________________________________________________________________________________________________
Appendix 1 - JORC (2012) Table 1
SECTION 1: SAMPLING TECHNIQUES AND DATA
Criteria Explanation Detail
-------------------------------------- --------------------------------------
Sampling techniques Nature and quality of sampling (e.g., Historical drillhole data (inclusive
cut channels, random chips, or of diamond and percussion (RC))
specific specialised exists but limited information
industry standard measurement tools is available relating to historical
appropriate to the minerals under sampling techniques and standards
investigation, such utilised by previous
as down hole gamma sondes, or operators on the Project Areas. The
handheld XRF instruments, etc.). historical drillhole data has no
These examples should not be accompanying assay QAQC,
taken as limiting the broad meaning however this fact is considered in
of sampling. allocation of Mineral Resource
classification during modelling.
According to historical literature
the percussion (RC) samples were
taken via a cyclone in
1 m increments.
-------------------------------------- --------------------------------------
Include reference to measures taken No information pertaining to sampling
to ensure sample representivity and data information was available for
the appropriate calibration Minxcon to review.
of any measurement tools or systems
used.
-------------------------------------- --------------------------------------
Aspects of the determination of No information pertaining to sampling
mineralisation that are Material to information was available for Minxcon
the Public Report. In to review. However,
cases where 'industry standard' work according to historical ISCOR
has been done this would be documentation the percussion (RC)
relatively simple (e.g., samples were taken via a cyclone
'reverse circulation drilling was in 1 m increments. Information with
used to obtain 1 m samples from which respect to possible diamond drilling
3 kg was pulverised is not available.
to produce a 30 g charge for fire
assay'). In other cases, more
explanation may be required,
such as where there is coarse gold
that has inherent sampling problems.
Unusual commodities
or mineralisation types (e.g.,
submarine nodules) may warrant
disclosure of detailed information.
-------------------------------------- --------------------------------------
Drilling techniques Drill type (e.g., core, reverse Very limited information is available
circulation, open-hole hammer, rotary relating to historical drilling
air blast, auger, Bangka, utilised by previous
sonic, etc.) and details (e.g., core operators on the Project Areas. A
diameter, triple or standard tube, total of 809 drillholes (percussion
depth of diamond tails, (RC) and/or diamond
face-sampling bit or other type, drilling carried out by ISCOR) were
whether core is oriented and if so, by found to have sufficient information
what method, etc.). to qualify them for
inclusion in the Mineral Resource
Estimation, there are no records of
any archived split core
or percussion nor their photographs.
Limited details are recorded in the
database for the
diamond drillholes, with unknown core
diameter.
-------------------------------------- --------------------------------------
Drill sample recovery Method of recording and assessing Data pertaining to both percussion
core and chip sample recoveries and (RC) drilling and diamond drillhole
results assessed. recoveries are not
available; as such, Minxcon cannot
comment on the drillhole recoveries.
A historical ISCOR
document does however mention that a
95% recovery is required and if not
achieved the drilling
contractor would redrill at their
cost.
-------------------------------------- --------------------------------------
Measures taken to maximise sample No information pertaining to sample
recovery and ensure representative recovery information was available
nature of the samples. for Minxcon to review.
-------------------------------------- --------------------------------------
Whether a relationship exists between No information pertaining to sample
sample recovery and grade and whether recovery information was available
sample bias may for Minxcon to review
have occurred due to preferential and hence this could not be
loss/gain of fine/coarse material. investigated.
-------------------------------------- --------------------------------------
Logging Whether core and chip samples have Limited information regarding the
been geologically and geotechnically logging was available to Minxcon and
logged to a level it is uncertain if
of detail to support appropriate the core was logged geotechnically or
Mineral Resource estimation, mining what percentage of the core was
studies and metallurgical logged or sampled. according
studies. to the simplified historical
geological logs provided to Minxcon
in excel format, drillhole
logging is quantitative in nature and
as summaries of geological codes and
assay interval,
i.e., pegmatite, and various country
rock lithologies. No photographs were
supplied to Minxcon
at the time of reporting.
-------------------------------------- --------------------------------------
Whether logging is qualitative or Limited information suggests
quantitative in nature. Core (or drillhole logging is quantitative in
costean, channel, etc.) nature.
photography.
-------------------------------------- --------------------------------------
The total length and percentage of the Limited information of what
relevant intersections logged. percentage of the core was logged or
sampled but from the drillhole
database, which is available, it
suggests that the entire drillhole
was logged and only the
pegmatites were sampled.
-------------------------------------- --------------------------------------
Sub-sampling techniques and sample If core, whether cut or sawn and No information in this regard was
preparation whether quarter, half or all cores available for Minxcon to review.
taken.
-------------------------------------- --------------------------------------
If non-core, whether riffled, tube Limited details are recorded in the
sampled, rotary split, etc. and database that samples were crushed to
whether sampled wet or <1.5 mm and the
dry. successively riffled to produce a
"cup" sized volume which was then
milled to "a very fine
powder". No supplementary information
is given, as such, Minxcon is unable
to comment on the
appropriateness or representivity of
the sampling.
-------------------------------------- --------------------------------------
For all sample types, the nature, No information pertaining QAQC data
quality and appropriateness of the information was available for Minxcon
sample preparation technique. to review.
-------------------------------------- --------------------------------------
Quality control procedures adopted No information pertaining QAQC data
for all sub-sampling stages to information was available for Minxcon
maximise representivity to review.
of samples.
-------------------------------------- --------------------------------------
Measures taken to ensure that the The entire drillhole pegmatite
sampling is representative of the intercept was sampled which would
in-situ material collected, result in a representative
including for instance results for sample of the pegmatite down the
field duplicate/second-half sampling. hole. The drilling density, up to a
25 m grid, is also fairly
tight which would also give a good
spread across the pegmatite.
-------------------------------------- --------------------------------------
Whether sample sizes are appropriate The cassiterite grains in the
to the grain size of the material pegmatite are fairly coarse and
being sampled. distributed fairly evenly throughout
the pegmatite and with the 1 m sample
increments, it is believed to be
appropriate.
-------------------------------------- --------------------------------------
Quality of assay data and laboratory The nature, quality and Historic assay work using XRF (Sn
tests appropriateness of the assaying and only) was performed. No QAQC data is
laboratory procedures used and available pertaining
whether the technique is considered to historical QAQC or laboratory
partial or total. testwork was available for historical
samples. QAQC procedures
pertaining to the extensive ISCOR
dataset are not documented.
-------------------------------------- --------------------------------------
For geophysical tools, spectrometers, No information pertaining to the
handheld XRF instruments, etc., the laboratory or tools used was
parameters used available for Minxcon to review.
in determining the analysis including
instrument make and model, reading
times, calibrations
factors applied and their derivation,
etc.
-------------------------------------- --------------------------------------
Nature of quality control procedures No information pertaining to QAQC
adopted (e.g., standards, blanks, information was available for Minxcon
duplicates, external to review. It is however
laboratory checks) and whether assumed that ISCOR, being a large
acceptable levels of accuracy (i.e., reputable mining company, would have
lack of bias) and precision used appropriate measures
have been established. to ensure acceptable levels of
accuracy and precision. Since there
was historical mining,
it is also assumed that there would
have been reconciliations to the
production and recovery
figures as a measure of QAQC.
-------------------------------------- --------------------------------------
Verification of sampling and assaying The verification of significant Due to limited data pertaining to the
intersections by either independent sampling and assaying procedures,
or alternative company Minxcon assumes that
personnel. sampling and assaying of all relevant
intersections collected by ISCOR may
have been conducted
according to industry best practice
and may be used for Mineral Resource
estimation. Minxcon
did undertake checks for overlaps and
duplicates and capped the anomalous
assay values.
-------------------------------------- --------------------------------------
Discuss any adjustment to assay data. No adjustments were made to the data
besides the capping of anomalous
grade values.
-------------------------------------- --------------------------------------
Documentation of primary data, data No information pertaining to specific
entry procedures, data verification, procedures was available but the fact
data storage (physical that this historical
and electronic) protocols. data is still available and in fairly
good condition, indicates there must
have been good
systems in place.
-------------------------------------- --------------------------------------
The use of twinned holes. A twinning or confirmatory drilling
programme has been completed at the
V1/V2 pegmatites which
had good correlations. This, in the
CP's opinion, goes a long way in
confirming the reliability
of the historical database as a
whole.
-------------------------------------- --------------------------------------
Location of data points Accuracy and quality of surveys used The coordinate system used throughout
to locate drillholes (collar and is WGS84 UTM 33S to survey and verify
down-hole surveys), numerous historical
trenches, mine workings and other collars which have been identified in
locations used in Mineral Resource the field by Andrada. These positions
estimation. are consistent
with positions recorded in the ISCOR
dataset providing confidence in the
historical data.
There is also a DTM which was used
for the depletions of the historical
open pit mining.
-------------------------------------- --------------------------------------
Specification of the grid system The coordinate system used throughout
used. is WGS84 UTM 33S.
-------------------------------------- --------------------------------------
Quality and adequacy of topographic There is a DTM for the project area.
control.
-------------------------------------- --------------------------------------
Data spacing and distribution Data spacing for reporting of Historically, Mineral Resource
Exploration Results. delineation has been completed using
both diamond and percussion
(RC) drilling methods. The limited
data is on an irregular grid
targeting each pegmatite and
the sampling database was composited
at 1 m.
It is Minxcon's opinion that data
spacing, and distribution is
sufficient to establish the
degree of geological and grade
continuity appropriate for the
Mineral Resource estimation
and classification.
The drillhole density could lend
itself to a measured or indicated
Mineral Resource if all
the QAQC was in place. However, since
there is a lack of QAQC only an
inferred Mineral Resource
has been declared.
-------------------------------------- --------------------------------------
Whether the data spacing, and The drillhole spacing ranges from
distribution is sufficient to about 25 m to 50 m in places and up
establish the degree of geological to 100 m to 200 m elsewhere.
and grade continuity appropriate for This is sufficient to prove
the Mineral Resource and Ore Reserve geological and grade continuity.
estimation procedure(s)
and classifications applied.
-------------------------------------- --------------------------------------
Whether sample compositing has been The samples were collected in 1 m
applied. increments and the histograms of the
sample width showed
that the 1 m samples where the
majority and hence the sample data
was composited at 1m.
-------------------------------------- --------------------------------------
Orientation of data in relation to Whether the orientation of sampling Minxcon is not aware of any core
geological structure achieves unbiased sampling of orientation being done on drill cores
possible structures and during the various
the extent to which this is known, historic drilling campaigns. However,
considering the deposit type. in most cases drillholes were drilled
vertically or
at an inclination of about 60 degrees
to intersect the shallow to steeply
dipping pegmatites
as close to right angles as possible.
-------------------------------------- --------------------------------------
If the relationship between the The drillholes intersect the
drilling orientation and the pegmatites close to normal and hence
orientation of key mineralised no bias is introduced.
structures is considered to have
introduced a sampling bias, this
should be assessed and reported
if material.
-------------------------------------- --------------------------------------
Sample security The measures taken to ensure sample Information on the security of
security. historical samples was not available.
-------------------------------------- --------------------------------------
Audits or reviews The results of any audits or reviews Minxcon is not aware of any audits
of sampling techniques and data. undertaken.
-------------------------------------- --------------------------------------
SECTION 2: REPORTING OF EXPLORATION RESULTS
Criteria Explanation Detail
-------------------------------------- --------------------------------------
Mineral tenement and land tenure Type, reference name/number, location The Project Area is held under valid
status and ownership including agreements or mining licence ML134 by Uis Tin Mining
material issues Company (Pty)
with third parties such as joint Ltd. ML134 is valid for base and rare
ventures, partnerships, overriding metals, industrial minerals,
royalties, native title semi-precious stones, covers
interests, historical sites, an area of 19,704.02 ha, and expires
wilderness or national park and on 21 August 2028. The V1/V2
environmental settings. pegmatites (not part of
this Mineral Resource) are currently
being mined. The mining operations are
fully licenced,
including abstraction of water from
boreholes and an Environmental
Clearance Certificate.
Further exploration activities at the
Project are covered by the amended
Environmental Clearance
Certificate.
-------------------------------------- --------------------------------------
The security of the tenure held at the The Competent Person is satisfied with
time of reporting along with any known the security of tenure. The Competent
impediments Person has not
to obtaining a licence to operate in identified any threat to the mining
the area. lease with continued annual payments
and conformance to
government notices and directives.
-------------------------------------- --------------------------------------
Exploration done by other parties Acknowledgment and appraisal of Acknowledgement is hereby made for the
exploration by other parties. historical exploration conducted
between the early
1960s and 1989 by ISCOR. SRK
documented the reserve and mine plan
report containing the historical
estimate of the mineralised tin
pegmatites Andrada obtained and
digitised a significant portion
of the exploration data.
-------------------------------------- --------------------------------------
Geology Deposit type, geological setting and
style of mineralisation. The tin bearing pegmatites are hosted
within the Damara Orogen, a typical
pan African-aged
(750-440 Ma) orogenic belt. The
LCT-type pegmatites forms part of the
Uis Pegmatite Swarm,
lying to the east and south of the
town of Uis and is well-mineralised
in comparison to other
pegmatites in this swarm. The Uis
Pegmatite Swarm has three clusters:
Northern, Central and
Southern. The pegmatites generally
have a northeast to east strike, and
dip between 30deg
and 70deg towards the northwest. The
southeast dipping host biotite schist
and gneiss of the
isoclinally folded Amis River
Formation (including the
Knottenschiefer) of the Damara
Supergroup
is crosscut by these pegmatites. The
mineralisation type is primarily
magmatic but may be
due to alteration. Primary
cassiterite is formed towards the end
of a pegmatite's crystallisation
history, when enough magmatic
differentiation has made tin
insoluble.
-------------------------------------- --------------------------------------
Drillhole Information A summary of all information material It is noted that all the Uis Tin Mine
to the understanding of the Projects included in the portfolio
exploration results including represent historical
a tabulation of the following database with limited data. Minxcon
information for all Material verified each of the drillhole
drillholes: databases as much as possible
* easting and northing of the during the drillhole desurvey process.
drillhole collar A total of 809 drillhole collars are
* elevation or RL (Reduced Level - present in the
elevation above sea level in metres) drillhole database were utilised for
of the drillhole collar the Mineral Resource Estimation of
* dip and azimuth of the hole which 27 are diamond
* down hole length and interception drillholes and 782 are percussion.
depth Minxcon utilised this information to
* hole length. delineate the mineralisation
of the pegmatites and estimation.
-------------------------------------- --------------------------------------
If the exclusion of this information A total of 809 drillhole collars are
is justified on the basis that the present in the drillhole database
information is not applicable to the proximal
Material and this exclusion does not pegmatites, with additional holes
detract from the understanding of the covering V1V2 (not included in this
report, the Competent MRE). All the proximal
Person should clearly explain why this pegmatite drillholes have been used
is the case. unless there was an absent or null
(zero) value. These
drillholes were used in the geological
modelling but not in the estimation.
-------------------------------------- --------------------------------------
Data aggregation methods In reporting Exploration Results, All drillholes were investigated
weighting averaging techniques, statistically and geostatistically.
maximum and/or minimum grade This analysis resulted
truncations (e.g., cutting of high in the drillholes being utilised in
grades) and cut-off grades are usually the Mineral Resource estimation
Material and should conducted over the Uis
be stated. Tin Mine. The samples were capped to
remove outliers in the database to
reduce the bias of
very high values. This capping was
applied by Minxcon in the Mineral
Resource estimation.
Minxcon reviewed the database and
selected 1 m composite as the optimum
sample length to be
utilised in the Mineral Resource
estimation.
-------------------------------------- --------------------------------------
Where aggregate intercepts The samples were capped to remove
incorporate short lengths of outliers in the database to reduce
high-grade results and longer lengths the bias of very high
of low grade results, the procedure values and composited at 1 m.
used for such aggregation should be
stated and some typical
examples of such aggregations should
be shown in detail.
-------------------------------------- --------------------------------------
The assumptions used for any There was no metal equivalent. Only
reporting of metal equivalent values Sn was reported.
should be clearly stated.
-------------------------------------- --------------------------------------
Relationship between mineralisation If the geometry of the mineralisation Available information indicates that
widths and intercept lengths with respect to the drillhole angle drilling was conducted to intersect
is known, its nature the mineralised pegmatites
should be reported. very close to normal relative to the
If it is not known and only the down reef plane.
hole lengths are reported, there The 3D modelling also takes care of
should be a clear statement the pegmatite width.
to this effect (e.g., 'down hole
length, true width not known').
-------------------------------------- --------------------------------------
Diagrams Appropriate maps and sections (with All relevant diagrams pertaining to
scales) and tabulations of intercepts sampling type and its distribution,
should be included as well as geological
for any significant discovery being and block models are presented in
reported These should include, but their respective sections and have
not be limited to a been generated in accordance
plan view of drillhole collar with the guidelines described in the
locations and appropriate sectional JORC Code.
views.
-------------------------------------- --------------------------------------
Balanced reporting Where comprehensive reporting of all The Mineral Resource estimate
Exploration Results is not considered the total dataset, for the
practicable, representative generation of the geological
reporting of both low and high grades model and estimated block model. CAE
and/or widths should be practiced to (Datamine) Studio RM(TM) software was
avoid misleading used to conduct
reporting of Exploration Results. statistical and geostatistical
analyses, conduct spatial continuity
analysis and generate
the estimated block models.
-------------------------------------- --------------------------------------
Other substantive exploration data Other exploration data, if meaningful Various exploration campaigns have
and material, should be reported been conducted at the Project sites
including (but not over the years, but
limited to): geological observations; this information is not available or
geophysical survey results; relevant to the current Mineral
geochemical survey results; Resource update. No other
bulk samples - size and method of exploration data other than that
treatment; metallurgical test presented for the purposes of the
results; bulk density, groundwater, Mineral Resource estimation
geotechnical and rock is therefore included in this Report.
characteristics; potential
deleterious or contaminating
substances.
-------------------------------------- --------------------------------------
Further work The nature and scale of planned The drillhole database integrity has
further work (e.g., tests for lateral resulted in the Mineral Resource
extensions or depth estimation being classified
extensions or large-scale step-out only as Inferred Mineral Resource.
drilling). Minxcon recommends that a programme
of confirmatory drilling
be undertaken to collect sufficient
data to complete an in-depth
investigation into the reliability
of the historical sampling, to assist
in Mineral Resource classification
upgrade. Minxcon
recommends that further drilling be
aimed at confirming the lateral
extent and mineralisation
of the W Cluster Pegmatites.
-------------------------------------- --------------------------------------
Diagrams clearly highlighting the The proximal pegmatites have been
areas of possible extensions, mapped on surface (figure in report)
including the main geological and the lateral and
interpretations and future drilling depth extensions of these can be
areas, provided this information is investigated with further drilling.
not commercially sensitive.
-------------------------------------- --------------------------------------
SECTION 3: ESTIMATION AND REPORTING OF MINERAL RESOURCES
Criteria Explanation Detail
------------------- ------------------------------------------------------------------------------------------------------
Database Measures taken to Minxcon verified the drillhole database during the drillhole desurvey process as far as possible.
integrity ensure that data The Uis Proximal Pegmatites drillhole database was checked for duplicates, overlapping and
has not been missing intervals, whilst all fields were checked for spurious or out of range values. The
corrupted by, for overlaps and duplicates were removed to create a final database file consisted of drillhole
example, data. Minxcon was not involved in the initial data capture process.
transcription or
keying errors,
between its
initial collection
and its use for
Mineral Resource
estimation
purposes.
------------------- ------------------------------------------------------------------------------------------------------
Data validation The data that could be validated by Minxcon was the surface outcrop mapping and historical
procedures used. collar positions in the field. The CP does however place huge importance on the fact that
the V1/V2 pegmatite data (geological and grade) was confirmed by a confirmatory drilling programme.
This goes a long way in validating the reliability of the historical drillhole database.
------------------- ------------------------------------------------------------------------------------------------------
Site visits Comment on any A site visit was undertaken on 17 November 2022 to verify the pegmatite surface outcrop and
site visits historical drillhole collars. This was achieved and the surface outcrop and historical collars
undertaken by the were confirmed. The historical drillhole diameter was noted to be variable in size and hence
Competent Person an indication that both RC and diamond drillholes were drilled.
and the outcome of
those visits.
------------------- ------------------------------------------------------------------------------------------------------
If no site visits Not applicable - see above.
have been
undertaken
indicate why this
is the case.
------------------- ------------------------------------------------------------------------------------------------------
Geological Confidence in (or Geological modelling comprises two elements namely modelled mineralised envelopes and a DTM
interpretation conversely, the of the topography, which includes the depletions from historic open pit mining. Mineralised
uncertainty of) envelopes were modelled using the lithological logs sourced from the surface drillholes and
the geological surface exposure / mapping. The wireframes are clipped to the drillhole data and have been
interpretation of extended along strike and down-dip by reasonable interpretation.
the mineral
deposit.
------------------- ------------------------------------------------------------------------------------------------------
Nature of the data The geological modelling was completed using Leapfrog software. A total of 32 mineralised
used and of any pegmatite envelopes have been modelled from the 809 drillholes. The pegmatites are very distinct
assumptions made. from the surrounding schist.
------------------- ------------------------------------------------------------------------------------------------------
The effect, if There has been no alternative geological model. The pegmatite geology is very distinctive.
any, of
alternative
interpretations on
Mineral Resource
estimation.
------------------- ------------------------------------------------------------------------------------------------------
The use of geology In general, the mineralised envelopes have been modelled to define elongated generally moderately
in guiding and (30deg) to steeply (70deg) dipping pegmatitic zones which occur within distinct clusters (K,
controlling P and V). Individual clusters are characterised by one or two dominant pegmatites, with numerous
Mineral Resource associated splay pegmatites. Strikes vary from east-west to southwest-northeast, with varying
estimation. strikes and dips occurring within the same cluster.
------------------- ------------------------------------------------------------------------------------------------------
The factors Several xenoliths (country or waste rock contained within the mineralised pegmatites) have
affecting been modelled within the larger pegmatites. The estimation is limited to the distinctive pegmatite
continuity both of wireframes based on the 809 drillholes.
grade and geology.
------------------- ------------------------------------------------------------------------------------------------------
Dimensions The extent and Orebody widths, strike and depth extents are highly variable and are based on the interpretation
variability of the of the drillhole and surface exposure data. Mineralised intercepts do not represent actual
Mineral Resource orebody widths due to the varying inclination of intercepts relative to the mineralised zones.
expressed as The modelled mineralised widths are generally less than 30 m.
length (along The K cluster of mineralisation extends along strike for approximately 1,740 m and 240 m down
strike or the dip slope. The P cluster has a strike extent of approximately 860 m and a maximum downdip
otherwise), depth of 185 m. The V cluster has a strike length of approximately 1,900 m and maximum downslope
plan width, and extent of 240 m.
depth below No geological structures such as dykes or faults have been modelled. No additional geological
surface to the losses have been applied to the Mineral Resource estimates.
upper and lower
limits of the
Mineral Resource.
------------------- ------------------------------------------------------------------------------------------------------
Estimation and The nature and The only variable analysed and available for estimation is tin (Sn %). No assumptions with
modelling appropriateness of respect to the correlation of Sn % with any other variable have been made.
techniques the estimation The geological, and geostatistical domains were delineated on the basis of geological structure.
technique(s) For all mineralised envelopes, the mean length of the sample populations was close to 1 m,
applied and key and given the data, a 1 m compositing interval was selected and applied to the desurveyed
assumptions, drillholes. The raw drillhole analytical data for Sn % indicates very low variance and coefficient
including of variation, therefore longer composite lengths would not be required.
treatment of Each modelled pegmatite was treated as a separate domain. Mineralised zones, generally within
extreme grade relative proximity, with similar structural orientations (strike and dip) were also grouped
values, domaining, zones.
interpolation The K pegmatite swarm comprised 10 separate domains, the P swarm comprised 6 domains and the
parameters and V group comprised 15 individual domains.
maximum CAE (Datamine) Studio RM(TM) was used to conduct statistical and geostatistical analyses,
distance of conduct spatial continuity analysis and generate the Ordinary Kriged estimated block models.
extrapolation from
data points. If a
computer assisted
estimation method
was chosen
include a
description of
computer software
and parameters
used.
------------------- ------------------------------------------------------------------------------------------------------
The availability In 1989 SRK compiled a LoM plan (excluding V1/V2) for ISCOR with proven and probable reserves
of check of 70.32 Mt @ a Sn grade of 0.136 % Sn. This was probably not compliant in today's terms but
estimates, correlates closely to this CPR's Inferred Mineral Resource.
previous estimates
and/or mine
production records
and
whether the
Mineral Resource
estimate takes
appropriate
account of such
data.
------------------- ------------------------------------------------------------------------------------------------------
The assumptions V1/V2 pegmatites have Li and Ta grade information with the more recent drilling campaigns
made regarding but the historical proximal pegmatites do not have any data relating to these by-products.
recovery of This needs to be investigated further with the future drilling.
by-products.
------------------- ------------------------------------------------------------------------------------------------------
Estimation of No estimation pertaining to deleterious elements or other non-grade variables of economic
deleterious significance (e.g., sulphur for acid mine drainage characterisation) have been conducted.
elements or other
non-grade
variables of
economic
significance
(e.g.,
sulphur for acid
mine drainage
characterisation).
------------------- ------------------------------------------------------------------------------------------------------
In the case of Block model estimates or grade interpolation for each Uis Proximal Pegmatite mineralised envelope,
block model were completed using parent cell estimates in orthogonal (unrotated) block models The block
interpolation, the model parameters are presented in Tables in the report. Estimates were performed individually
block size in for each modelled mineralised envelope, using only the composite data extracted from that
relation to the respective envelope.
average sample Additional block model splits were used, to assist with filling the modelled mineralised envelopes
spacing and the to ensure the volume of the mineralised shells was honoured as far as possible. The Mineral
search employed. Resource estimate was constrained by the modelled mineralised envelopes.
Three estimates were performed using three search volumes as per the search parameters described
previously. The resultant block models were combined with one another, giving preference to
the lowest (smallest) search volume.
Multiple estimation techniques were employed in the interpolation to allow for cross-validation
of methods and testing for conditional bias. Ordinary kriging (OK) was utilised for Mineral
Resource estimation purposes. Secondary estimates were completed using inverse distance to
the power 2 (ID2SNC) and 0 (produces an arithmetic mean within the respective search - AVGSNC)
and a nearest neighbour (NNSNC) method.
The Block model parameters for the mineralised areas in the Uis Proximal Pegmatite areas and
block size are shown in the table.
Block Block No. No. No.
Origin Origin Origin size size Blocks Blocks Blocks
Area X Y Z X Y X Y Z
Uis
Proximal
Pegmatite 486420 7649800 580 5.00 5.00 486.00 924.00 72.00
------- -------- ------- ------ ------ -------- -------- --------
------------------- ------------------------------------------------------------------------------------------------------
Any assumptions No assumptions were made in terms of selective mining units with respect to the cell size
behind modelling selected.
of selective
mining units.
------------------- ------------------------------------------------------------------------------------------------------
Estimation and Any assumptions The only variable analysed and available for estimation is tin (Sn %). No assumptions with
modelling about correlation respect to the correlation of Sn % with any other variable have been made.
techniques between variables.
(continued)
------------------- ------------------------------------------------------------------------------------------------------
Description of how The Mineral Resource estimation has been restricted to the hard boundaries encompassed by
the geological the geological wireframes.
interpretation was
used to control
the resource
estimates.
------------------- ------------------------------------------------------------------------------------------------------
Discussion of An extreme value or outlier analysis was completed on the composite data selected from sub-clusters
basis for using or of the modelled mineralised envelopes. Composite tin grades greater than the selected capping
not using grade grade were set to the selected grade to reduce the potential impact extreme values may have
cutting or on the block model estimation.
capping. The analysis comprised examination of cumulative coefficient of variation plot, cumulative
log probability plots and quantile analyses to determine the presence of extreme value outliers.
Capping values were determined for each of the geological or geostatistical domains. In general,
the capping values were within the 99th percentile of the respective distributions.
------------------- ------------------------------------------------------------------------------------------------------
The process of Several data-model reconciliations were performed. Firstly, a visual inspection of drillhole
validation, the composite values with respect to the estimated block model was completed. Visually there is
checking process a reasonable correlation between the estimated ordinary krige tin values and the composite
used, the tin values.
comparison of
model data to Basic statistics have been compiled comparing the model estimates and composites. Regressions
drillhole between various interpolants and the respective kriged value were tested for the total estimated
data, and use of block model (irrespective of final Mineral Resource categorisation). Correlation coefficients
reconciliation ("R") of greater than 0.90 were achieved, indicating a reliable estimate for the Ordinary
data if available. kriging relative to the other methods tested. Scatter plots of the various interpolants with
respect to one another were also inspected for possible indications of bias in the OK estimate.
SWATH plots were also conducted on the estimation.
------------------- ------------------------------------------------------------------------------------------------------
Moisture Whether the There was no data available for the moisture content, so the tonnage is assumed to be dry
tonnages are at this stage.
estimated on a dry
basis or with
natural moisture,
and the method
of determination
of the moisture
content.
------------------- ------------------------------------------------------------------------------------------------------
Cut-off The basis of the The cut-off parameters used for the cut-off grade and RPEEE pits are detailed below. The resource
parameters adopted cut-off has been declared at a cut-off grade of 0.03 % Sn and within the optimised pit.
grade(s) or
quality parameters
applied.
------------------- ------------------------------------------------------------------------------------------------------
Mining factors Assumptions made The mining method assumed is open pit mining as per the historical operations and current
or assumptions regarding possible operations at the V1/V2 pegmatites. See RPEEE parameters above.
mining methods,
minimum mining
dimensions and
internal
(or, if
applicable,
external) mining
dilution. It is
always necessary
as part of the
process
of determining
reasonable
prospects for
eventual economic
extraction to
consider potential
mining methods,
but the
assumptions made
regarding mining
methods and
parameters when
estimating
Mineral Resources
may not always be
rigorous. Where
this is the case,
this should be
reported
with an
explanation of the
basis of the
mining assumptions
made.
------------------- ------------------------------------------------------------------------------------------------------
Metallurgical The basis for A process recovery of 64% has been used for the RPEEE which is based on the DFS work.
factors or assumptions or
assumptions predictions
regarding
metallurgical
amenability. It is
always
necessary as part
of the process of
determining
reasonable
prospects for
eventual economic
extraction to
consider potential
metallurgical
methods, but the
assumptions
regarding
metallurgical
treatment
processes and
parameters made
when reporting
Mineral Resources
may not always be
rigorous. Where
this is the case,
this should be
reported with an
explanation of the
basis
of the
metallurgical
assumptions made.
------------------- ------------------------------------------------------------------------------------------------------
Environmental Assumptions made Based on the V1/V2 operations no environmental factors or assumptions were deemed material,
factors or regarding possible and thus none were considered.
assumptions waste and process
residue disposal
options. It is
always
necessary as part
of the process of
determining
reasonable
prospects for
eventual economic
extraction to
consider the
potential
environmental
impacts of the
mining and
processing
operation.
While at this
stage the
determination of
potential
environmental
impacts,
particularly for
a greenfields
project, may not
always be well
advanced, the
status of early
consideration
of these potential
environmental
impacts should be
reported. Where
these aspects have
not
been considered
this should be
reported with an
explanation of the
environmental
assumptions
made.
------------------- ------------------------------------------------------------------------------------------------------
Bulk density Whether assumed or No primary density data or database was available for the proximal pegmatites. Pegmatite material
determined. If has an assigned density of 2.65 t/m3, whilst the host biotite schist and gneiss has been assigned
assumed, the basis a density of 2.76 t/m3. This is based on the V1/V2 pegmatite work.
for the
assumptions. If
determined, the
method used,
whether wet or
dry, the frequency
of the
measurements, the
nature, size and
representativeness
of the samples.
------------------- ------------------------------------------------------------------------------------------------------
The bulk density No information relating to a bulk sample was available. There is very little if any weathering
for bulk material on surface, so the density of the pegmatite is the same throughout.
must have been
measured by
methods that
adequately account
for void spaces
(vugs, porosity,
etc.), moisture
and differences
between rock and
alteration
zones within the
deposit.
------------------- ------------------------------------------------------------------------------------------------------
Discuss See above.
assumptions for
bulk density
estimates used in
the evaluation
process of the
different
materials.
------------------- ------------------------------------------------------------------------------------------------------
Classification The basis for the The Mineral Resource estimates were categorised on the basis matrix of criterion dependant
classification of on the data type and quantity, quality and standards, quality assurance and quality control
the Mineral protocols, range of the respective modelled spatial continuity, number of composites, minimum
Resources into and maximum number of samples and the performance (quality) of the kriging estimate. The total
varying confidence estimated block model within the modelled mineralised envelopes for all areas were classified
categories. as Inferred Resources, primarily due to uncertainty associated with the source data.
For the Uis Proximal Pegmatite Mineral Resource estimate, a portion of the estimated Inferred
Mineral Resource includes material that may be regarded as extrapolated beyond the limits
of available sampling / analytical data. The Mineral Resource estimate has been completed
using 3 search volumes. The 3rd search volume estimate can be considered "extrapolated", as
it is estimated using composite data present within two times the modelled search volume for
a particular modelled envelope. Extrapolated inferred Mineral Resource is approximately 7.6%.
------------------- ------------------------------------------------------------------------------------------------------
Whether Mineral Resource was classified as Inferred Mineral Resource due to the database confidence
appropriate level discussed in database integrity section of this report. If QAQC was available, the resource
account has been could have been classified as a measured or indicated Mineral Resource based on the data density,
taken of all but the resource was downgraded.
relevant factors
(i.e., relative
confidence
in tonnage/grade
estimations,
reliability of
input data,
confidence in
continuity of
geology
and metal values,
quality, quantity
and distribution
of the data).
------------------- ------------------------------------------------------------------------------------------------------
Whether the result It is the Competent Person's opinion the Mineral Resource estimation conducted by Minxcon
appropriately is appropriate and presents a reasonable result in line with accepted industrial practices.
reflects the
Competent Person's
view of the
deposit.
------------------- ------------------------------------------------------------------------------------------------------
Audits or The results of any Internal audits and peer review were completed by Minxcon which verified and considered the
reviews audits or reviews technical inputs, methodology, parameters and results of the estimate. No independent review
of Mineral has been completed for the Mineral Resource estimate presented in this Report.
Resource
estimates.
------------------- ------------------------------------------------------------------------------------------------------
Discussion of Where appropriate The Mineral Resource estimate for the Uis Proximal Pegmatites was completed using geostatistical
relative a statement of the methods to produce local estimates which provide a measure of the relative accuracy and confidence
accuracy/ relative accuracy and quality of the estimate. The estimate has been compared with the composites used to estimate
confidence and confidence the block model and a high degree of correlation has been established through various reconciliation
level in the methods.
Mineral
Resource estimate The quality of the estimate has been measured using various estimation parameters. Although
using an approach the Mineral Resource estimate has been classified as Inferred, the estimation contains measures
or procedure of estimation quality such that the estimate can be subdivided into various levels of quality.
deemed appropriate The table below depicts the various estimation quality and confidence parameters for the Uis
by the Competent Mineral Resource estimate.
Person. Classification Mean Mean Mean Mean
For example, the Kriging Slope Interval Interval
application of Efficiency of Regression at 90 at 95
statistical or % Confidence % Confidence
geostatistical Level Level
procedures to High
quantify the Quality
relative Inferred 0.6 0.9 6.9 8.2
accuracy of the ------------ --------------- -------------- --------------
resource within Medium
stated confidence Quality
limits, or, if Inferred 0.3 0.7 10.4 12.4
such an approach ------------ --------------- -------------- --------------
is not deemed Low
appropriate, a Quality
qualitative Inferred -0.7 0.2 15.6 18.6
discussion of the ------------ --------------- -------------- --------------
factors that could
affect the
relative accuracy
and confidence of
the estimate.
------------------- ------------------------------------------------------------------------------------------------------
The statement Regional accuracy is considered acceptable as evidenced by the swath plots, and direct sample
should specify point versus block model checks have ensured acceptable local accuracy with regards the estimated
whether it relates Projects.
to global or local
estimates, and, if
local,
state the relevant
tonnages, which
should be relevant
to technical and
economic
evaluation.
Documentation
should include
assumptions made
and the procedures
used.
------------------- ------------------------------------------------------------------------------------------------------
These statements Accuracy of the estimate relative to production data cannot be ascertained at this point as
of relative the production figures are not readily available. However, the new resource correlates well
accuracy and with the historical 1989 SRK reserve.
confidence of the
estimate should be
compared with
production data,
where available.
------------------- ------------------------------------------------------------------------------------------------------
About Andrada Mining Limited
Notes to Editors
Andrada Mining Limited, formerly Afritin Mining Limited, is a
London-listed technology metals mining company with a vision to
create a portfolio of globally significant, conflict-free,
production and exploration assets. The Company's flagship asset is
the Uis Mine in Namibia, formerly the world's largest hard-rock
open cast tin mine.
Lithium laboratory test work completed during the 2022 calendar
year indicated a high-grade, ultra-low iron lithium petalite
concentrate. The test work to convert lithium petalite concentrate
to battery-grade lithium hydroxide was initiated with Nagrom, a
leading Australian processing company, and commercial engagements
with lithium petalite concentrate off - takers are on-going.
An exploration drilling programme is currently underway with the
aim of expanding the tin resource over the fourteen additional,
historically mined pegmatites, all of which occur within a 5 km
radius of the current processing plant. The Company has set a
mineral resource target of 200 Mt to be delineated within the next
5 years. The substantial mineral resource potential allows the
Company to consider economies of scale.
Andrada is managed by a board of directors with extensive
industry knowledge and management team with deep commercial and
technical skills. Furthermore, the Company is committed to the
sustainable development of its operations and the growth of its
business. This is demonstrated by how the leadership team places
significant emphasis on creating value for the wider community,
investors, and other key stakeholders. Andrada has established an
environmental, social and governance system which has been
implemented at all levels of the Company and aligns with
international standards.
-END-
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