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RNS Number : 9236G  First Tin PLC  01 May 2025

 

01 May 2025

First Tin PLC

("First Tin" or "the Company")

Auersberg and Gottesberg Project Critical Raw Material Exploration Update

 

First Tin PLC, a tin development company with advanced, low capex projects in
Germany and Australia, is pleased to announce that its 100% owned subsidiary,
Saxore Bergbau GmbH ("SBG"), has compiled results from exploration conducted
during 2024 and 2025 over its Auersberg and Gottesberg licences in Germany.
The results confirm the presence of multiple critical raw materials in
addition to tin, further enhancing the strategic importance of this project
within the EU.

Highlights include:

 

·      Critical raw materials gallium (Ga) and indium (In) have been
shown to be widespread in the district

·      Elevated levels of lithium (Li), caesium (Cs), and rubidium (Rb)
have also been identified

·      Several tin greisen vein structures have been mapped and sampled
over a distance of at least 3km, suggesting potential for sizeable systems in
the district with grades of between 0.2% and 0.6% Sn plus critical raw
material by-products

·      In addition to tin (Sn), silver (Ag) and bismuth (Bi) have been
located in several tin greisen systems via surface rock chip sampling

 

 

 

First Tin CEO, Bill Scotting commented:

 

"These results highlight the potential for tin as well as other critical
minerals in this historic mining district in the heartland of Europe's
high-tech manufacturing belt, minerals which today are primarily imported from
geo-politically sensitive regions.

 

The results show that there is further potential for significant tin deposits
in our portfolio of exploration licenses in the tin triangle around the known
Tellerhäuser and Gottesberg deposits.  In addition, the considerable
potential for other critically important minerals is especially relevant as
Europe seeks to build security in its critical minerals supply chain. Further
work to evaluate these additional critical raw materials and better define the
Gottesberg to Gabe Gottes corridor is planned for the 2025 field season."

 

 

 

Details:

 

Tin Greisens

 

SBG conducted mapping and sampling at its Auersberg and Gottesberg projects
during the 2024-25 field seasons, including collecting and assaying a total of
96 rock chip samples.  This work has been compiled and assessed along with
previous SBG and German Democratic Republic (GDR) era work.  Tin assay
results are summarised on Figures 1 to 3.

 

Figure 1: Summary of SBG Tenure in Saxony, Germany, showing rock chip
sampling, SBG tin resources and GDR mineralisation estimates (non-JORC)

 

Figure 2: Compilation of stream sediment sample results (Sn) from the central
part of Auersberg

 

Figure 3: Compilation of rock chip sample results (Sn) from Gottesberg and
Auersberg

 

It can be seen that a northeast trending zone approximately 11km long has been
identified trending from Gottesberg to Gabe Gottes.  Rock chip sampling at
two prospects within this zone has identified the following targets:

 

Pollersberg

 

Mapping and rock chip sampling (45 samples) has shown mineralisation occurs as
a series of greisen veins that can be traced over a distance of at least 300m,
with an average rock chip sample grade of 0.19% Sn (Figure 4) and pXRF
analyses of up to 1.29% Sn.  Limited previous SBG drilling returned an
intercept of 2.6m @ 0.26% Sn from 51.7m:

 

Figure 4: Summary of Pollersberg structure exploration by SBG (backdrop Lidar
DEM)

 

Gallium and caesium are also elevated in this area with average grades of
29ppm Ga and 81ppm Cs and maxima of 54ppm Ga and 180ppm Cs.  Lithium grades
of up to 662ppm Li have been recorded.

 

St Michaelis

Mapping and rock chip sampling (51 samples) has shown mineralisation occurs as
a series of greisen veins that can be traced over a distance of around 600m,
with an average rock chip sample grade of 0.24% Sn and a maximum grade of
0.60% Sn (Figure 5).

Figure 5:  Summary of St Michaelis and Katarina structures exploration by SBG
(backdrop Lidar DEM)

 

Gallium and caesium are also enriched with averages of 33ppm Ga (maximum
47ppm) and 95ppm Cs (maximum 147ppm Cs).  Lithium grades of up to 393ppm Li
have been recorded.

The mineralisation outcrops and consists of coarse cassiterite as shown on
Figure 6.

 

 

Figure 6:  Rock chip sample showing coarse cassiterite (black mineral,
SnO(2)) from St Michaelis structure

 

The average grade extracted during the main period of mining (19(th) Century)
is believed to have been around 0.4% Sn.  This is significantly higher than
the SGB rock chip sampling suggests, probably due to the near surface
mineralisation already having been mined.  However, mining was generally
relatively shallow and potential for higher grade mineralisation remains at
depth.

The Pollersberg and St Michaelis structures are separated by a broad valley
and there is some suggestion they could be part of the same structure, which
would have a strike potential of around 3km within the broad, 10km northeast
trending zone that stretches from Gottesberg to Gabe Gottes.

 

 

Gallium

Geochemical assaying of samples collected during the 2024 field season,
combined with previous SBG and historical data, has shown that the critical
raw material (CRM) gallium (Ga) is widespread in the Auersberg licence area,
associated with tin bearing greisen alteration around vein structures that can
be traced for several kilometres (Figure 7).

 

Figure 7:  Summary of Rock chip sampling showing gallium assays from
Auersberg and Gottesberg

 

In particular, a northeast tending zone stretching from Gottesberg to at least
St Michaelis has returned consistently high values of up to 54ppm Ga.

 

Following recognition of the high Ga content of rock chip samples around
Pollersberg and St Michaelis, a review of existing data for the Tellerhauser
and Gottesberg projects was undertaken, looking specifically at gallium
assays. This has shown high gallium exists at both projects, with assays of up
to 600ppm Ga being found at Tellerhauser and up to 120ppm Ga at Gottesberg
(Table 1).

 

For context, the current price of gallium is around US$0.24/g, compared with
US$0.35/g for indium and US$0.03/g for tin. Whilst recoveries of the metal are
unknown, and hence no specific value can be put on the likely economics,
potential exists for gallium to become a significant by-product if future
metallurgical testwork shows it can be economically extracted.

 

 

 Deposit        Sample_nr  Drillhole            Interval  m   Sn  %     Cu  %   Zn  %   Ga  ppm 
 Tellerhäuser   151070     84203                0.4           0.52      -       3.1     300
 Tellerhäuser   144190     84118                0.6           0.36      -       0.06    100
 Tellerhäuser   144060     84115                1.0           0.32      0.01    3.3     600
 Gottesberg     G2_12_069  SZ2_2012             0.6           0.4       0.01    0.003   120.0
 Gottesberg     G2_12_070  SZ2_2012             0.45          0.24      0.01    0.003   141.5
 Gottesberg     G1_12_328  SZ1_2012             0.6           0.13      0.1     0.03    70.8
 Gottesberg     G1_12_357  SZ1_2012             0.95          2.02      0.07    0.006   90.8
 Pollersberg    PB_4_011   Surface Rock sample  -             0.31      0.001   0.01    53.8
 Pollersberg    PB_4_102   Surface Rock sample  -             <0.02     0.003   0.02    50.9

Table 1: Selected gallium assay data from SBG's projects in Saxony

 

Figure 8 shows average gallium values for known projects worldwide, with
average assays for SBG's Germany projects shown for comparison.

 

Figure 8:  Average gallium values for known projects worldwide with average
assays from SBG's projects shown for comparison.

 

 

Indium

 

A significant enrichment of indium has been found in tin, copper and zinc
minerals at Tellerhauser and Gottesberg.  Tellerhauser is one of the World's
largest undeveloped indium deposits, with an Indicated and Inferred resource
estimate of 708,000kg at an average grade of 25ppm In (see RNS dated 22 April,
2024 for details).

 

Previous work at the Breitenbrunn prospect has returned high indium values
from underground channel sampling - averaging 93ppm In and with a highest
assay value of 720ppm In (Figure 9).

 

The average indium grade at Gottesberg is around 9ppm In based on previous
incomplete drillhole assaying.While still high, it appears that the skarn
hosted mineralisation at Tellerhauser and Breitenbrunn is significanty more
enriched in indium than greisen hosted mineralisation.

 

Sampling at Auersberg and Gottesberg has also shown elevated indium values
within tin greisen veins (Figure 9).  Average assays at Pollersberg are
2.6ppm In with a maximum of 7.6ppm In while at St Michaelis, the average is
1.4ppm In with a maximum of 2.6ppm In, supporting the lower indium content of
greisen hosted tin mineralisation.

 

This summary suggests indium may be a common by-product, and that the district
is generally very elevated in this CRM.

 

Figure 9:  Summary of Rock chip sampling showing indium assays from Auersberg
and Gottesberg

 

 

Lithium-Rubidium-Caesium

 

The Eibenstock Granite, the source for the tin mineralisation at SBG's
projects, has been shown to be enriched in lithium, rubidium, caesium,
fluorine and tin.  Greisen samples from the Auersberg project have similar
enrichments, assumed to be within mica in the greisen alteration.

 

It is unclear which mica is enriched and whether or not the above elements are
extractable.  This may be the focus of future studies given the large size
potential available.

Figure 10:  Summary of Rock chip sampling showing lithium assays from
Auersberg and Gottesberg

 

Figure 11:  Summary of Rock chip sampling showing rubidium assays from
Auersberg and Gottesberg

 

 

Figure 12:  Summary of Rock chip sampling showing caesium assays from
Auersberg and Gottesberg

 

Averages and maxima (in brackets) from Pollersberg are 306ppm Li (662ppm Li),
523ppm Rb (1390ppm Rb), 81ppm Cs (180ppm Cs) and from St Michaelis are 212ppm
Li (393ppm Li), 484ppm Rb (745ppm Rb), 95ppm Cs (147ppm Cs).

 

 

Silver and bismuth

Rock chip sampling from Neuberg-Grummetstock, east of the known
tin-greisen-deposit Gottesberg, showed As rich minerals with notable grades of
silver, bismuth and indium. The results of these two samples are listed in
Table 2 and suggests that the mineralisation occurs primarily in arsenic-rich
mineral phases.

 

 

Table 2: Results from rock samples GB_801 and GB_802 showing significant
enrichment of the elements Ag-Bi-In-As (Analysis by ACTLABS).

 Sample_nr  Ag  ppm   As  %   Cu  ppm   S  %   Bi  ppm   In  ppm   Sn  % 
 GB_801     12.5      13.0    412       0.18   448       73        0.12
 GB_802     55.1      15.0    1160      0.28   861       115       0.13

 

 

Conclusions

Recent exploration has shown potential for significant tin-indium-gallium
mineralisation within the Eibenstock granite at Gottesberg, Pollersberg and St
Michaelis.  This trend can be interpreted to continue to the Gabe Gottes
area, a strike of around 10km, hence forming a large target.

Potential for the district to host significant CRMs has been shown, and a
re-evaluation of the Tellerhauser and Gottesberg deposits suggests that they
could both host significant indium and gallium credits.  The indium potential
at Tellerhauser has already been shown, with a total of 708,000kg indium being
identified as Indicated and Inferred Resources.  It is likely that the indium
content has been underestimated due to incomplete assay data for this element.

Further work designed to identify additional critical raw materials and better
define the Gottesberg to Gabe Gottes corridor is planned for the 2025 field
season.

 

Enquiries:

 

                                                                                Via SEC Newgate below
 Bill Scotting - Chief Executive Officer
 Arlington Group Asset Management Limited (Financial Advisor and Joint Broker)
 Simon Catt                                                                     020 7389 5016

 Zeus Capital Limited (Joint Broker)
 Harry Ansell / Dan Bristowe / Katy Mitchell                                    020 3829 5000

 SEC Newgate (Financial Communications)
 Elisabeth Cowell / Molly Gretton                                               07900 248 213

 

Notes to Editors

First Tin PLC 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, which have been de-risked significantly, with extensive work
undertaken to date.

Tin is a critical metal, vital in any plan to decarbonise and electrify the
world, yet Europe and North America have very little supply. Rising demand,
together with shortages, is expected to lead tin to experience sustained
deficit markets for the foreseeable future.

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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