REG - AfriTin Mining Ltd - Li and Ta Infill Drill Programme, Initial Results

Andrada MiningAnnouncement

08/06/2022 07:00

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RNS Number : 1224O  AfriTin Mining Ltd  08 June 2022

08 June 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, Initial Results

AfriTin Mining Limited (AIM: ATM), an African technology metals mining company
with a portfolio of mining and exploration assets in Namibia, is pleased to
announce initial results for the lithium and tantalum drilling programme at
the Company's flagship operation, the Uis Mine ("Uis").

The infill drilling programme is being conducted at the main V1/V2 pegmatite
at Uis, which is currently being mined to extract tin, with a view to
increasing the confidence of the existing lithium and tantalum estimates for
the deposit. The programme consists of approximately 50 planned holes;
drilling for 27 holes has been completed. This announcement reports the assay
results for the first 4 holes.

Link to full PDF version with images:
https://afritinmining.com/lithium-and-tantalum-infill-drill-programme-initial-results/
(https://afritinmining.com/lithium-and-tantalum-infill-drill-programme-initial-results/)

 

Highlights:

·      Significant V1/V2 pegmatite intersections include:

o  132m at 0.168% Sn, 75 ppm Ta, and 0.74% Li(2)O for drill hole V1V2049,
from 124m to 256m;

o  110m at 0.171% Sn, 92 ppm Ta, and 0.75% Li(2)O for drill hole V1V2057,
from 92m to 202m;

·      Pegmatite intersected in all holes at depths and apparent widths
as predicted by the geological model;

·      Notable intersections of lithium mineralisation within the
pegmatite include:

o  8m at 1.08% Li2O for drill hole V1V2036, from 140m to 148m;

o  10m at 1.05% Li2O for drill hole V1V2045, from 136m to 146m;

o  12m at 0.99% Li(2)O for drill hole V1V2049, from 231m to 243m; and

o  45m at 1.04% Li(2)O for drill hole V1V2057, from 136m to 181m.

Anthony Viljoen (CEO) commented:

"We are very pleased to announce these drilling results which have produced
lithium grades surpassing our expectations and reinforce our belief that Uis
is host to one of the largest lithium resources globally. While the V1/V2
pegmatite displays impressive dimensions and is open-ended at depth, a
multitude of surrounding pegmatites present significant upside potential.

"As a former mining operation, Uis has been extensively drilled but historic
assaying has focused solely on the tin with no regard for the lithium or
tantalum in the deposit. This programme will increase the confidence of the
current lithium and tantalum estimates and is part of our strategy to bring
these two commodities into production alongside our tin operation.

"Our recently released preliminary economic assessment for the Phase 2 Project
in April (see announcement dated 26 April 2022) highlighted the economic
potential of these by-product elements which are game changing. The
construction of a new lithium pilot plant will allow us to progress to
commercial production phases much faster than a new greenfield lithium
resource elsewhere."

Exploration Programme

The Company initiated this programme with the aim of upgrading the existing
resource classification for lithium and tantalum over the areas where tin is
presently classified within the measured and indicated categories for the JORC
(2012) compliant mineral resource estimate (MRE) established in 2019 (see
announcement dated 16 September 2019). The mineralised intersections of the
reported holes are well aligned with the current geological model,
highlighting the veracity of the existing dataset. These drill holes
intersected the pegmatite where the V1 and V2 bodies have amalgamated into a
single larger unit. The dip angle of the pegmatite varies from 24 degrees to
48 degrees across the unit.

1 Exploration results of holes V1V2036, V1V2045, V1V2049 and V1V2057 including
selected higher grade continuous lithium intersections from each hole (width
refer to the apparent intersection)

 Hole ID  Inclina-tion  Pegmatite Unit                      From (m)  To (m)    Width (m)  Grade
          Sn (%)                        Ta (ppm)                      Li2O (%)
 V1V2036  Vertical      V1/V2           whole intersection  136.87    183.42    46.55      0.191  101  0.74

          including                     140.00                        148.00    8.00       0.109  95   1.08
 V1V2045  Vertical      V1/V2           whole intersection  114.49    209.19    94.7       0.167  67   0.58

          including                     136.00                        146.00    10.00      0.118  55   1.05
 V1V2049  Vertical      V1/V2           whole intersection  124.19    256.05    131.86     0.168  75   0.74

          including                     231.00                        243.00    12.00      0.176  100  0.99
 V1V2057  Vertical      V1/V2           whole intersection  92.25     202.05    109.8      0.171  92   0.75

          including                     136.00                        181.00    45.00      0.176  76   1.04

 

The reported holes comprise diamond drilling; each hole was vertically
orientated with intersection widths being representative of apparent
thickness. Each drill hole was geologically, and geotechnically logged before
being cut and sampled. The samples were taken at one-meter intervals wherever
possible. Sample analysis was undertaken by UIS Analytical Services, a
certified independent laboratory, with ICP-OES being utilised for major and
minor elements and ICP-MS being utilised for the reporting of trace elements.
 

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 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

 

 

 

 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                     +44 (0) 20 7907 8500

 Andrew Chubb

 Jay Ashfield

 Nilesh Patel
 Stifel Nicolaus Europe Limited           +44 (0) 20 7710 7600

 Ashton Clanfield

 Callum Stewart
 Tavistock Financial PR (United Kingdom)  +44 (0) 207 920 3150
 Emily Moss

 Catherine Drummond

 Adam Baynes

 

 

About AfriTin Mining Limited

Notes to Editors

AfriTin Mining Limited is a London-listed technology metals mining company
with a vision to create a portfolio of globally significant, conflict-free,
producing and exploration assets. The Company's flagship asset is the Uis Tin
Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.

AfriTin is managed by an experienced board of directors and management team
with a current strategy to ramp-up production at the Uis Mine in Namibia to
more than 10,000 tonnes of tin concentrate and 350,000 tonnes of lithium
concentrate in a Phase 2 expansion, having reached Phase 1 commercial
production in 2020. The Company strives to capitalise on the solid
supply/demand fundamentals of tin and lithium by developing a critical mass of
resource inventory, achieving production in the near term and further scaling
production by consolidating assets in Africa.

 

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