TIDMATM
RNS Number : 0364T
AfriTin Mining Ltd
20 July 2022
20 July 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 the second batch of results for the lithium and
tantalum drilling programme at the Company's flagship operation,
the Uis Mine ("Uis").
The infill drilling programme is currently being executed over
the V1/V2 pegmatite at Uis, with the aim of increasing the
confidence in the existing lithium and tantalum Mineral Resource
estimate over the deposit. The programme consists of approximately
50 holes. To date, 32 drill holes have been completed and are in
the process of being analysed. Results for the first four holes
were announced on 8 June 2022 - this announcement reports the assay
results for the next five holes (Figure 1).
Highlights:
-- Significant pegmatite intersections include:
o 22 m at 0.153% Sn, 104 ppm Ta, and 1.18% Li(2) O within drill
hole V1V2055, from 23 m to 45 m;
o 69 m at 0.178% Sn, 98 ppm Ta and 0.45 Li2O for hole V1V2061,
from 98 m to 167 m;
o 52 m at 0.173% Sn, 86 ppm Ta, and 0.58% Li(2) O for drill hole
V1V2064, from 135 m to 187m.
-- Pegmatite was intersected in all holes drilled, as predicted by the geological model.
Anthony Viljoen (CEO) commented: "These results confirm our
understanding of the mineralisation at Uis, in particular the
polymetallic nature of the V1/V2 pegmatite, which continues to show
consistent tin, tantalum and lithium mineralisation. We are
confident, following continued positive results, that we are on
track to reaching our objective of upgrading our resource for
Lithium and Tantalum for the V1/V2 pegmatite. This phase of our
drill programme contains notable intersections of lithium and
tantalum mineralisation, which supports our strategic plan to
implement additional processing plant circuits by Q4 of this year
(refer to announcement dated 6 April 2022).
We look forward to updating our mineral resource estimate and
adding processing capabilities for multiple product revenue
streams."
Exploration Programme
The infill drilling programme aims to upgrade the existing
resource for lithium and tantalum in the measured and indicated
categories for the 2019 JORC (2012) compliant MRE for Uis in 2019
(see announcement dated 16 September 2019). The pegmatite
intersections of the reported holes complement the current
geological model, confirming AfriTin's confidence in its geological
model. The drill holes intersected the pegmatite where the V1 and
V2 bodies have bifurcated into individual pegmatites. The dip angle
of the pegmatites vary from 24 degrees to 48 degrees. All of the
reported drill holes are vertically orientated with reported
intersections representing apparent thickness. Some schistose
xenoliths were intersected in the drill holes and the reported
results provide actual pegmatite intersections excluding the schist
interval(s).
Table 1 : Exploration results of holes V1V2055, V1V2061,
V1V2064, V1V2068 and V1V2073 indicating the full pegmatite
intersection and pegmatite grades excluding xenolith and schist
intervals.
Hole Pegmatite Pegmatite Pegmatite Intersection Grade
ID Intersection, Intersection, Length
Including Excluding (m)
Waste, From/To Waste, From/To
(m) (m)
Sn (%) Ta (ppm) Li2O
(%)
---------- ------ -------- ----
V1V2055 V2 1 - 45 1.20 - 8.47 7.27 0.096 296 0.43
---------- --------------- --------------- ------------ ------ -------- ----
22.96 - 45.39 22.43 0.153 104 1.18
------------------- --------------- --------------- ------------ ------ -------- ----
V1 63 - 134 63.40 - 72.11 8.71 0.149 82 0.72
------------------- --------------- --------------- ------------ ------ -------- ----
83.84 - 96.56 12.72 0.142 82 0.67
------------------- --------------- --------------- ------------ ------ -------- ----
100.57 -
102.40 1.83 0.210 44 0.57
--------------- ------------ ------ -------- ----
106.56 -
112.49 5.93 0.213 91 0.70
--------------- ------------ ------ -------- ----
115.36 -
133.87 18.49 0.132 91 0.53
------------------- --------------- --------------- ------------ ------ -------- ----
V1V2061 V2 55 - 88 54.52 - 60.23 5.71 0.068 304 0.39
---------- --------------- --------------- ------------ ------ -------- ----
66.97 - 88.13 21.16 0.186 165 0.52
------------------- --------------- --------------- ------------ ------ -------- ----
V1 98 - 175 98.09 - 167.18 69.09 0.178 98 0.44
------------------- --------------- --------------- ------------ ------ -------- ----
169.80 -
174.88 5.08 0.144 215 0.41
------------------- --------------- --------------- ------------ ------ -------- ----
112.00 -
V1V2064 V2 112 - 132 113.00 1.00 0.508 314 0.21
---------- --------------- --------------- ------------ ------ -------- ----
115.88 -
119.44 3.56 0.116 479 0.44
------------------- --------------- --------------- ------------ ------ -------- ----
121.74 -
124.53 2.79 0.165 209 0.65
------------------- --------------- ------------ ------ -------- ----
127.93 -
131.83 3.90 0.315 234 0.47
------------------- --------------- --------------- ------------ ------ -------- ----
134.84 -
V1 135 - 187 187.09 52.25 0.173 86 0.58
------------------- --------------- --------------- ------------ ------ -------- ----
108.29 -
V1V2068 V2 108 - 112 112.09 3.80 0.213 395 0.33
---------- --------------- --------------- ------------ ------ -------- ----
120.11 -
V1 120 - 160 159.56 39.45 0.187 122 0.36
------------------- --------------- --------------- ------------ ------ -------- ----
V1V2073 V1 92 - 136 95.25 - 124.69 29.44 0.102 118 0.57
---------- --------------- --------------- ------------ ------ -------- ----
127.08 -
136.23 9.15 0.119 91 0.51
------------------- --------------- --------------- ------------ ------ -------- ----
The reported holes comprise drill core from diamond drilling;
each drill hole was geologically and geotechnically logged before
being cut in half and sampled. The samples were taken at
approximately one-meter intervals. Sample analysis was undertaken
by UIS Analytical Services, a certified independent laboratory,
ICP-OES being utilised for major and minor elements and ICP-MS
being utilised for the reporting of trace elements.
Figure 1: Map displaying the localities of the reported holes as
well as the drill holes of the previous (2019) exploration
programme and the holes from this programme previously reported.
The line A-A' indicates the area represented by the cross
section.
Figure 2: Section line A-A' displaying a projection of the holes
drilled in 2019 and hole V1V2064 for which the results are reported
in this release
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 a
Principal Consultant - Battery Metals co-ordinator for CSA Global
and has 22 years of industry related exploration and mineral
project development experience and is a Competent Person for the
reporting of 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
the 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
-----------------------------------------------------------------------------------------------
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: apparent width = x.y * true
thickness
Dip Angle The angle of inclination measured downward from horizontal
-------------------------------------------------------------------------------------------------
Geological Model The interpretation of mineralisation and geology that controls mineralisation. 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 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
-------------------------------------------------------------------------------------------------
Xenolith A foreign rock fragment (e.g. schist) within an intrusive body (e.g. pegmatite) that is
unrelated
to the igneous intrusion.
-------------------------------------------------------------------------------------------------
AfriTin Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO
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
Ashton Clanfield
Callum Stewart +44 (0) 20 7710 7600
Tavistock Financial PR (United
Kingdom) +44 (0) 207 920 3150
Emily Moss
Catherine Drummond
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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