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

Andrada MiningAnnouncement

11/10/2022 07:16

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RNS Number : 4608C  AfriTin Mining Ltd  11 October 2022

11 October 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, is pleased to
announce results for the lithium and tantalum infill drilling programme at the
Company's flagship operation, the Uis Mine ("Uis").

The infill drilling programme is being conducted over the V1/V2 pegmatite at
Uis, which is currently being mined to produce a tin concentrate. The 50-hole
drilling programme aims to increase the confidence of the existing lithium and
tantalum mineral resource estimates over the deposit; 47 drill holes have been
completed and are being processed. The results of 9 previous diamond drill
(DD) holes were announced on 8 June 2022 and 20 July 2022, and this
announcement reports the assay results of the next 11 drill holes, comprising
both diamond and reverse circulation (RC) drilling (Figure 1). The results of
the outstanding 27 drill holes will be provided when received.

Highlights:

 

·      Significant pegmatite intersections include:

o  35 m at 0.149% Sn, 77 ppm Ta, and 0.94% Li(2)O within drill hole V1V2032,
from 150 m to 185 m;

o  25 m at 0.197% Sn, 140 ppm Ta and 0.60% Li2O for hole V1V2076, from 46 m
to 71 m;

o  34 m at 0.186% Sn, 116 ppm Ta, and 0.57% Li(2)O from 13 m to 48 m; and
0.92m at 5.154% Sn, 582 ppm Ta and 0.32% Li(2)O from 5 m to 6 m for drill hole
V1V2072.

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

Anthony Viljoen (CEO) commented:
"We are pleased to report these exploration drill results which are very much in line with our high expectations. They relate to the north-eastern portion of the V1/V2 pegmatite ore body, which is an area known to contain higher tantalum and tin grades. For the pegmatite intersections reported here, the average tantalum grade is approximately 40% higher than the average of the existing mineral resource estimate (119 ppm vs 85 ppm), and the tin grade is approximately 30% higher than the average of the resource estimate (0.174% vs 0.134%).
The infill drill programme continues to deliver results that we believe confirm the scale and quality of the deposit. We look forward to upgrading our mineral resource estimate and bringing on tantalum and lithium by-product revenue streams alongside our existing tin production."
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 where the V1 and V2 bodies have bifurcated into
individual units, and in some holes the V1 pegmatite has an offshoot into the
hanging wall (referred to as the V1 Upper in Table 1). The dip angle of the
pegmatites varies from 24 degrees to 48 degrees and the majority of the
reported drill holes are orientated vertically such that reported
intersections represent apparent thickness.

Table1: Exploration results of diamond drill holes V1V2028, V1V2032, V1V2070,
V1V2072, V1V2075, and V1V2077 and RC drill holes V1V2069, V1V2071, V1V2074,
V1V2076 and V1V2079 indicating the pegmatite intersection widths and pegmatite
grades. Intersections indicate apparent thickness and not true thickness. The
apparent thickness is greater than the true thickness.

 Hole ID    Dip Angle (Degrees)  Drill type  Pegmatite  Pegmatite Intersection, Including Waste, From/To (m)  Pegmatite Intersection, Excluding Waste, From/To (m)  Intersection Length (m)  Grade
            Sn (%)                           Ta (ppm)                                                         Li2O (%)
 V1V2028    Vertical             DD          V2         121-136                                               121.39-135.40                                         14.01                    0.131  95   0.38
 V1V2032    -81                  DD          V2         149-185                                               149.92-185.16                                         35.24                    0.149  77   0.94
 V1V2070    Vertical             DD          V1         69-108                                                69.32-108.06                                          38.74                    0.177  147  0.49
 V1V2072    Vertical             DD          V1         5-48                                                  5.11-6.03                                             0.92                     5.154  582  0.32
            6.93-12.04                       5.11                                                             0.186                                                                          143         0.38
            13.32-47.88                      34.56                                                            0.186                                                                          116         0.57
 V1V2075    Vertical             DD          V1         52-98                                                 52.22-58.61                                           6.39                     0.102  138  0.51
            59.55-93.42                      33.87                                                            0.121                                                                          98          0.76
            95.03-97.97                      2.94                                                             0.040                                                                          275         0.28
 V1V2077    Vertical             DD          V1         21-41                                                 21.56-22.31                                           0.75                     0.056  50   0.41
            23.48-41.21                      17.73                                                            0.283                                                                          128         0.37
 V1V2069    Vertical             RC          V1 Upper   75-82                                                 75.00-82.00                                           7                        0.095  215  0.26
            V1                               91-154                                                           91.00-147.00                                          56                       0.193  109  0.42
 V1V2071    Vertical             RC          V1         31-86                                                 31.00-86.00                                           55                       0.165  94   0.49
 V1V2074    Vertical             RC          V1         72-105                                                72.00-105.00                                          33                       0.155  122  0.47
 V1V2076    Vertical             RC          V1 Upper   2-19                                                  2.00-19.00                                            17                       0.083  108  0.47
            V1                               46-71                                                            46.00-71.00                                           25                       0.197  140  0.6
 V1V2079    Vertical             RC          V1         69-105                                                69.00-105.00                                          36                       0.141  151  0.52

 

The drilled holes comprised reverse circulation drilling (RC) and diamond
drilling (DD). Each drill hole was geologically logged with the DD drill holes
also being geotechnically logged before sampling at approximately one-meter
intervals. Sample analysis was undertaken by UIS Analytical Services, a
certified independent laboratory, using a peroxide fusion and analysis, with
ICP-OES utilised for major and minor elements and ICP-MS utilised for trace
elements.

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

 

 

Figure 2: Section line A-A' displaying a projection of the holes drilled
during the current programme for which 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 for CSA
Global and has 22 years of industry related exploration and mineral project
development experience, as well as 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
 DD             Diamond Drilling
 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.

 

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