REG - AfriTin Mining Ltd - Lithium Discovery on AfriTin Mining License

Andrada MiningAnnouncement

02/03/2022 07:00

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RNS Number : 2914D  AfriTin Mining Ltd  02 March 2022

2 March 2022

AfriTin Mining Limited

 ("AfriTin" or the "Company")

Lithium (Spodumene) Discovery on AfriTin Mining License

AfriTin Mining Limited (AIM: ATM), an African tech-metals mining company with
a portfolio of mining and exploration assets in Namibia, is pleased to
announce the discovery of spodumene, a lithium-bearing mineral, within its
fully permitted mining license ML 129, situated 11 kilometres SW of the
Company's flagship asset, the Uis Tin Mine ("Uis").

 

Link to Map:
https://afritinmining.com/lithium-spodumene-discovery-on-afritin-mining-license-map/
(https://afritinmining.com/lithium-spodumene-discovery-on-afritin-mining-license-map/)

 

Highlights:

▪      Lithium-bearing spodumene identified within multiple pegmatites
located on adjacent mining licence ML 129;

▪      Discovery lies within the operational limits of the current Uis
Tin Mine processing facility;

▪      Spodumene complements the Company's existing pegmatite hosted
lithium resource at Uis; and,

▪      This discovery is the first result of an extensive early-stage
regional exploration programme.

Anthony Viljoen (CEO) commented:

"The discovery of spodumene during our current exploration programme is an
exciting development that highlights the significant potential of our licence
areas in Namibia and provides a promising target for AfriTin's operations
within the region. I am delighted by this new discovery, which  reaffirms our
development goals and supports the overall strategy of building a diverse
portfolio of technology metals.

The Company intends to conduct an exploration drilling programme on this
target during 2022, with the aim of adding to our existing lithium resource at
Uis. Lithium from these sources can be of interest to both technical and
chemical lithium markets, the latter finding application in lithium-ion
batteries."

The discovery of spodumene, the primary mineral used in the production of
lithium-ion batteries, was achieved under the Company's regional exploration
programme over historical mine workings and greenfield opportunities in
central Namibia. The mineralised pegmatites have a combined strike length of
approximately 2 km and occur within the adjacent fully permitted mining
licence, ML 129. They occur in close proximity to an existing arterial road
and fall within the operational limits of the Uis Tin Mine.

 

The presence of spodumene within the pegmatites was confirmed through
laboratory X-Ray diffraction analysis of surface grab samples. Four of the
five samples collected returned positive results, the best of which  yielded
a whole rock spodumene content of 10%. Follow-up field observations have
subsequently identified additional surface exposures of similar pegmatite type
along strike. Whilst it is an early stage discovery, and significant work is
required to fully understand these results, it is nevertheless an exciting
development that underpins the Company's confidence in the prospectivity of
ML129.

 

AfriTin's mining licence, ML 134, on which the Uis Tin Mine is situated, hosts
a JORC (2012) compliant mineral resource containing approximately 450,000
tonnes of Li(2)O, with the primary lithium ore mineral identified as petalite
(see announcement dated 16 September 2019). The spodumene identified on ML 129
indicates the potential for broadening the range of AfriTin's strategic
mineral portfolio and furthering the Company's objective of establishing an
inventory of technology metals.

 

Glossary of abbreviations

 km             kilometres
 Li             Symbol for Lithium
 Li(2)O         Lithium oxide
 Li → Li(2)O    Metal to metal-oxide conversion factor of 2.153
 JORC           The Australasian Code for Reporting of Exploration Results, Mineral Resources
                and Ore Reserves
 SW             South-west

 

 

 

 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
 Jos Simson

 Oliver Lamb

 Nick Elwes

 

 

About AfriTin Mining Limited

Notes to Editors

AfriTin Mining Limited is a London-listed tech-metals mining company with a
vision to create a portfolio of globally significant, conflict-free, producing
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 Tin Mine in Namibia
to 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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