14
November 2024
First Tin
PLC
("First
Tin" or "the Company")
Taronga Mines Further
Consolidates Exploration Tenure Around Taronga
First Tin PLC, a tin development
company with advanced, low capex projects in Germany and Australia,
is pleased to announce that its 100% owned subsidiary, Taronga
Mines Pty Ltd ("TMPL"), has applied for two new Exploration
Licences ("EL") near its Taronga Tin Project ("Taronga") in
Australia.
As a result of TMPL's proactive
monitoring strategy, the Company was able to apply for two newly
available licences, ELA 6814 and ELA 6836. Together they cover
around 195 km2 of prospective ground, taking TMPL's
total area under tenure in the Emmaville district to around 752
km2, assuming they are granted.
The two licences cover numerous old
hard rock and alluvial tin workings within and adjacent to the Mole
Creek Leucogranite - the main source of tin mineralisation in the
district. Several interesting targets are already identified
including (Figure 1):
· Long Spur:
A zone of NE tending sheeted veing (similar
orientation to Taronga) has been identified over at least 15m width
with stream sediment anomalies of 1100ppm Sn and 3300ppm Sn
draining the area. Sampling by the Geological Survey of New South
Wales (GSNSW) has returned assays of up to 1.9% Sn from surface
grab samples and individual veins up to 0.3m wide are
noted.
· Dingo Creek:
Alluvial and hard rock tin workings in the area
form extensions and/or repetitions of existing TMPL
targets.
· Butlers
Extended: Extensions of the Butlers
Lodes, one of the larger historical hard rock tin producers, are
interpreted.
· Catarrh Creek:
This area is one of the more significant
historical alluvial tin producers outside the immediate Emmaville
area, with over 1,000t past production of tin concentrates. A
hard rock source has not been identified to date.
· Stannum
Extensions: Stannum is one of TMPL's
higher priority targets and extensions of the target extend into
this area.
· Romneys:
Several hard rock and alluvial workings are known
in the area but little modern exploration has been undertaken to
date.
These targets complement TMPLs
existing targets and ensure that TMPL will have access to almost
all of the known tin targets in the Emmaville Tin Field once the
tenements are granted.
First Tin CEO, Bill Scotting
commented:
"Acquiring these tenements supports
our Hub and Spoke strategy, positioning Taronga as a future central
processing facility. While our immediate focus is on bringing
Taronga into production, continuing exploration in this highly
prospective area is a strategic priority for First Tin. The
addition of these two tenements to our portfolio further
consolidates our exploration efforts in the district."
Figure 1: New EL Application
Areas
Competent Person Statement
Information in this announcement
that relates to exploration results, data quality and geological
interpretations is based on information compiled by Mr Antony
Truelove. Mr Truelove is a Member of the Australian Institute of
Geoscientists (AIG) and the Australasian Institute of Mining and
Metallurgy (AusIMM). Mr Truelove has sufficient experience relevant
to the style of mineralisation and type of deposit under
consideration, and to the activities undertaken, to qualify as a
Competent Person as defined in the 2012 Edition of the Joint Ore
Reserves Committee (JORC) Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves. Mr
Truelove is Chief Operating Officer of First Tin Plc and consents
to the inclusion in this announcement of the matters based on this
information in the form and context in which it appears.
Enquiries:
First Tin
|
Via
SEC Newgate below
|
Bill Scotting - Chief Executive
Officer
|
|
Arlington Group Asset Management Limited (Financial Advisor
and Joint Broker)
|
|
Simon Catt
|
020 7389 5016
|
|
|
Zeus Capital Limited (Joint Broker)
|
|
Harry Ansell / Dan Bristowe / Katy
Mitchell
|
020 3829 5000
|
|
|
SEC
Newgate (Financial Communications)
|
|
Elisabeth Cowell / Molly
Gretton
|
07900 248 213
|
Notes to Editors
First Tin PLC is an ethical,
reliable, and sustainable tin production company led by a team of
renowned tin specialists. The Company is focused on becoming a tin
supplier in conflict-free, low political risk jurisdictions through
the rapid development of high value, low capex tin assets in
Germany and Australia, which have been de-risked significantly,
with extensive work undertaken to date.
Tin is a critical metal, vital in
any plan to decarbonise and electrify the world, yet Europe has
very little supply. Rising demand, together with shortages, is
expected to lead tin to experience sustained deficit markets for
the foreseeable future.
First Tin's goal is to use
best-in-class environmental standards to bring two tin mines into
production in three years, providing provenance of supply to
support the current global clean energy and technological
revolutions.