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

Andrada MiningAnnouncement

05/12/2022 07:00

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RNS Number : 5710I  AfriTin Mining Ltd  05 December 2022

5 December 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. All 50 drill
holes have been completed and are being processed. The results of 25 previous
holes were announced on 8 June 2022, 20 July 2022, 10 October 2022 and 22
November 2022. This announcement reports the assay results of the next 5 drill
holes (Figure 1). The results of the outstanding 20 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  90 m at 0.164% Sn, 73 ppm Ta, and 1.40% Li(2)O from 134 m to 224 m; and 12
m at 0.159% Sn, 182 ppm Ta, and 0.59% Li(2)O from 115 m to 127 m for drill
hole V1V2062;

o  96 m at 0.150% Sn, 68 ppm Ta and 0.72% Li(2)O from 142 m to 238 m for hole
V1V2039;

o  71 m at 0.166% Sn, 81 ppm Ta, and 1.05% Li(2)O from 157 m to 228 m; and 10
m at 0.091% Sn, 323 ppm Ta and 0.41% Li(2)O from 139 m to 149 m for drill hole
V1V2065;

·      These results include some of the drilling programme's most
notable intersections of lithium mineralisation within the pegmatite
intersections:

o  76 m at 1.56% Li(2)O from 136 m to 212 m for drill hole V1V2062;

o  26 m at 1.00% Li(2)O from 180 m to 206 m for drill hole V1V2039; and

o  25 m at 1.65% Li(2)O from 193 m to 218 m for drill hole V1V2065.

Anthony Viljoen (CEO) commented:
"These exploration drill results contain the highest average lithium grade for a full pegmatite intersection within the V1/V2 pegmatite ore body to date, namely 90m at an average Li(2)O content of 1.40%. This intersection includes a continuous portion of 76 m at 1.56% Li(2)O. The lithium grade of the V1/V2 pegmatite appears to increase with depth, and the Company intends to further explore the down dip potential of this pegmatite. We look forward to the potential upgrade of our mineral resource estimate and advancing our lithium and tantalum product development programmes at Uis."
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
have coalesced. The dip angle of the pegmatites varies from 24 degrees to 48
degrees and the drill holes are orientated vertically such that reported
intersections represent apparent thickness.

Drill hole V1V2039 deflected towards the west while drilling and as a result
the hole was terminated within ore to avoid superfluous drilling down the dip
of the pegmatite. The deeper drill holes from this programme appear to
intersect greater volumes of pegmatite, and these deeper extensions may also
contain higher lithium grades as indicated below.

Table1: Exploration results of RC drill holes V1V2060, V1V2062, V1V2039,
V1V2065, and V1V2029 indicating the full pegmatite intersection and pegmatite
grades as well as selected higher grades within the pegmatites as per the
highlights. 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) excluding Waste  Interval (m)  Grade
          Sn (%)                          Ta (ppm)                                         Li2O (%)
 V1V2060  Vertical             V2         Whole Intersection  36-42                        6.00          0.075  170   0.36
          Whole Intersection              43-60                                            17.00         0.129  95    0.48
          V1                              Whole Intersection  73-83                        10.00         0.159  89    0.50
          Whole Intersection              84-101              17.00                        0.137         98     0.49
          Whole Intersection              104-143             39.00                        0.143         89     0.62
 V1V2062  Vertical             V2         Whole Intersection  115-127                      12.00         0.159  182   0.59
          V1                              Whole Intersection  134-224                      90.00         0.164  73    1.40
          Including                       136-212             76.00                        0.167         72     1.56
 V1V2039  Vertical             V1/V2      Whole Intersection  142-238                      96.00         0.150  68    0.72
          Including                       180-206                                          26.00         0.157  66    1.00
 V1V2065  Vertical             V2         Whole Intersection  139-149                      10.00         0.091  323   0.41
          V1                              Whole Intersection  157-228                      71.00         0.166  81    1.05
          Including                       193-218             25.00                        0.163         65     1.65
 V1V2029  Vertical             V2         Whole Intersection  16-34                        18.00         0.111  108   0.54

 

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. Full details of the
pegmatite intersections for drill hole V1V2060 are reported in Table 1.

 

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 this 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 (Economic Geology, 1968, vol 63, pp 188-189).
 Dip Angle           The angle of inclination measured downward from horizontal
 Geological Model    The interpretation of mineralisation and geology applicable to an ore body.
                     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

 Andrew de Andrade
 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

 Varun Talwar
 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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