REG - First Tin PLC - Application for Exploration Licence

First TinAnnouncement

31/08/2023 07:00

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RNS Number : 8625K  First Tin PLC  31 August 2023

 

 

 

31 August 2023

First Tin Plc

("First Tin" or "the Company")

Taronga Mines Pty Ltd applies for Exploration Licence over the Tingha Tin
Field

 

First Tin PLC ("First Tin"), a tin development company with advanced, low
capex projects in Germany and Australia, is pleased to report that its 100%
owned Australia subsidiary - Taronga Mines Pty Ltd (TMPL) - has applied for a
large (276.6km(2)) Exploration Licence covering the majority of the Tingha tin
field, located approximately 50km from TMPL's advanced stage Taronga tin
project in northeastern New South Wales (Figure 1).

 

There are three main tin fields in northeastern NSW and southeastern
Queensland, that form the New England Tin Corridor. This is evident in Figure
1, which shows known tin mineralisation as orange dots overlaid on a Google
Earth image. TMPL currently holds the majority of the Emmaville Tin Field
under its existing tenure. Once the Exploration Licence is granted, TMPL will
hold the majority of the Tingha Tin Field and will have access to explore most
of the known tin mineralised areas in northeastern NSW. This will consolidate
the Companys control of the exploration potential around our world class
Taronga tin deposit.

 

The three tin fields all have significant historical tin production, the
majority of which is from alluvial and eluvial sources:

 

·      Stanthorpe Tin
Field                            51,000t tin

·      Emmaville Tin
Field                              88,000t tin

·      Tingha Tin
Field
64,000t tin

The tin mined at Tingha was mainly alluvial, with large dredges operating over
an extended timeframe during the late 1800s to late 1900s. The tin is
interpreted as being derived from the Triassic age Gilgai Leucogranite which
has a similar age and formation history to the Mole Leucogranite, which is
interpreted as the source of the tin mineralising fluids that formed Taronga.

 

Some small hard-rock deposits are known to occur in the Tingha area. These are
generally vein-style (quartz-cassiterite-mica) deposits that trend
east-northeast and northwest. While they tend to be small, we can see
potential for larger disseminated or stockwork-sheeted vein-style deposits,
similar to Taronga.

 

Initial work will consist of data compilation and geological mapping aimed at
assessing the potential for large scale disseminated or sheeted-stockwork
style tin deposits.  This will be followed by drilling if warranted.

 

First Tin CEO Thomas Buenger said: "This Exploration Licence submission is an
important step in consolidating First Tin's control of significant historical
tin producing areas in northeastern NSW. It forms part of our long-term
strategy of building on our existing tin holdings and extending our "Tin
District" concept around our world-class Taronga tin deposit. We expect that
the Exploration Licence will be granted close to the time of completion of our
DFS on the Taronga deposit, and we look forward to updating shareholders with
the outcome once this procedure has been completed."

 

Figure 1: Tingha Tin Project EL Application Location Pl

 

 

 

Figure 1: Tingha Tin Project EL Application Location Plan

Enquiries:

 

 First Tin                                                                      Via SEC Newgate below
 Thomas Buenger - Chief Executive Officer
 Arlington Group Asset Management Limited (Financial Advisor and Joint Broker)

 Simon Catt                                                                     020 7389 5016

 WH Ireland Limited (Joint Broker)
 Harry Ansell                                                                   020 7220 1670

 SEC Newgate (Financial Communications)
 Elisabeth Cowell / Molly Gretton                                               FirstTin@secnewgate.co.uk

 

Notes to Editors

First Tin is an ethical, reliable, and sustainable tin production company led
by a team of renowned tin specialists. The Company is focused on becoming a
tin supplier in conflict-free, low political risk jurisdictions through the
rapid development of high value, low capex tin assets in Germany and
Australia.

Tin is a critical metal, vital in any plan to decarbonise and electrify the
world, yet Europe has very little supply. Rising demand, together with
shortages, is expected to lead tin to experience sustained deficit markets for
the foreseeable future. Its assets have been de-risked significantly, with
extensive work undertaken to date.

First Tin's goal is to use best-in-class environmental standards to bring two
tin mines into production in three years, providing provenance of supply to
support the current global clean energy and technological revolutions.

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