REG - AfriTin Mining Ltd - Lithium and Tantalum Infill Drill Programme Update

Andrada MiningAnnouncement

20/07/2022 07:00

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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).

Table1: Exploration results of holes V1V2055, V1V2061, V1V2064, V1V2068 and
V1V2073 indicating the full pegmatite intersection and pegmatite grades
excluding xenolith and schist intervals.

 Hole ID  Pegmatite  Pegmatite Intersection, Including Waste, From/To (m)  Pegmatite Intersection, Excluding Waste, From/To (m)  Intersection Length (m)  Grade
                                                                           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
 V1V2064  V2         112 - 132                                             112.00 - 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
          V1         135 - 187                                             134.84 - 187.09                                       52.25                    0.173     86   0.58
 V1V2068  V2         108 - 112                                             108.29 - 112.09                                       3.80                     0.213     395  0.33
          V1         120 - 160                                             120.11 - 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                     +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

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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