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

Andrada MiningAnnouncement

22/11/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221122:nRSV1852Ha&default-theme=true

RNS Number : 1852H  AfriTin Mining Ltd  22 November 2022

22 November 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
further results from the lithium and tantalum drilling programme at the
Company's flagship operation, the Uis Mine ("Uis").

The 50-hole drilling programme, comprising 29 diamond and 21 reverse
circulation (RC) drill holes, aims to increase the confidence of the existing
lithium and tantalum mineral resource estimates over the deposit. A total of
49 drill holes have been completed and are being processed. The results of 20
previous holes were announced on 8 June 2022, 20 July 2022 and 10 October
2022. This announcement reports the assay results of the next 5 drill holes
(Figure 1). The results of the outstanding 24 drill holes will be provided
once received.

Highlights:

 

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

·      Significant pegmatite intersections include:

o  114 m at 0.151% Sn, 75 ppm Ta, and 0.63% Li(2)O within drill hole V1V2042,
from 116 m to 230 m;

o  108 m at 0.146% Sn, 65 ppm Ta and 0.65% Li(2)O for hole V1V2046, from 101
m to 209 m;

o  75 m at 0.183% Sn, 76 ppm Ta, and 0.76% Li(2)O from 92 m to 167 m; and

o  23 m at 0.153% Sn, 102 ppm Ta and 0.46% Li(2)O from 57 m to 80 m for drill
hole V1V2056.

·      Notable intersections of lithium mineralisation within the
pegmatite intersections include:

o  10 m at 1.35% Li(2)O for drill hole V1V2042 from 211 m to 221 m; and

o  38 m at 1.00% Li(2)O for drill hole V1V2056 from 107 m to 145 m.

Anthony Viljoen (CEO) commented:
"We are pleased to announce these exploration drill results which are once again in line with our high expectations for the V1/V2 pegmatite ore body. The drill holes reported in this announcement are distributed over the entire strike of the pegmatite and are indicative of the consistency of the lithium, tin and tantalum mineralisation. We are particularly encouraged by the lithium grades intersected in drill holes V1V2042 and V1V2056, which further demonstrate the unrealised potential of the Uis orebody. As we near the end of this exploration programme, we look forward to upgrading the mineral resource estimate in support of our by-product development projects for tantalum and lithium."
Exploration Programme

The current exploration programme aims to upgrade the existing resource
classification for lithium and tantalum over the areas where tin is currently
classified within the measured and indicated categories for the 2019 JORC
(2012) compliant mineral resource estimate (MRE) (see announcement dated 16
September 2019). The pegmatite intersections of the reported holes align with
the current geological model, confirming its spatial accuracy. The drill holes
intersected the pegmatite at shallow depths where the V1 and V2 bodies have
bifurcated into individual units, as well as greater depths where the units
coalesce to form a single unit. The dip angle of the pegmatites varies from 24
degrees to 48 degrees and the reported drill holes are orientated vertically
such that reported intersections represent apparent thickness.

Table1: Exploration results of RC drill holes V1V2031, V1V2042, V1V2046,
V1V2056, and V1V2078 indicating the full pegmatite intersection and pegmatite
grades. Intersections are indicative of apparent thickness and not true
thickness; note that apparent thickness is greater than true thickness.

 Hole ID  Dip Angle (Degrees)  Pegmatite                      From/To (m) Including Waste  Interval (m)  Grade
          Sn (%)                          Ta (ppm)                                         Li(2)O (%)
 V1V2031  Vertical             V2         Whole Intersection  162 - 194                    32            0.146  83    0.61
 V1V2042  Vertical             V1/V2      Whole Intersection  116 - 230                    114           0.151  75    0.63
          Including                       211 - 221                                        10            0.152  39    1.35
 V1V2046  Vertical             V1/V2      Whole Intersection  101 - 209                    108           0.146  65    0.65
 V1V2056  Vertical             V2         Whole Intersection  57 - 80                      23            0.153  102   0.46
          V1                              Whole Intersection  92 - 167                     75            0.183  76    0.76
          Including                       107 - 145           38                           0.186         82     1.00
 V1V2078  Vertical             V1         Whole Intersection  37 - 47                      10            0.089  181   0.36

 

The drilling method for the holes in Table 1 is reverse circulation (RC). Each
drill hole was geologically logged before being sampled at one-meter
intervals. Sample analysis was undertaken by UIS Analytical Services, a
certified independent laboratory, using a peroxide fusion; ICP-OES analysis
was utilised for major and minor elements and ICP-MS was utilised for the
trace elements.

Figure 1: Map displaying the localities of the reported holes, the drill holes
of the previous (2019) exploration programme and the holes from the current
programme previously reported. Line A-A' indicates the area represented by the
cross section (Fig.2).

 

 

Figure 2: Section line A-A' displaying a projection of the holes drilled
during the current programme for which the results are reported in this
release and previous communications for this programme.

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 the Principal Consultant - Battery Metals
co-ordinator for CSA Global and has 22 years of industry related exploration
as well as mineral project development experience and is a Competent Person
for the reporting of these 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
 RC             Reverse Circulation drilling
 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 based on the
                     formula by Addie (1968 Economic Geology, vol 63, pp 188-189).
 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.
 Xenolith            A foreign rock fragment (e.g. schist) within an intrusive body (e.g.
                     pegmatite) that is unrelated to the igneous body.

 

 

 

 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLPPGWPGUPPUQP