REG - First Tin PLC - Consolidation of Exploration Tenure Around Taronga
14/11/2024 07:00
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RNS Number : 1363M First Tin PLC 14 November 2024
14 November 2024
First Tin PLC
("First Tin" or "the Company")
Taronga Mines Further Consolidates Exploration Tenure Around Taronga
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,
Taronga Mines Pty Ltd ("TMPL"), has applied for two new Exploration Licences
("EL") near its Taronga Tin Project ("Taronga") in Australia.
As a result of TMPL's proactive monitoring strategy, the Company was able to
apply for two newly available licences, ELA 6814 and ELA 6836. Together they
cover around 195 km(2) of prospective ground, taking TMPL's total area under
tenure in the Emmaville district to around 752 km(2), assuming they are
granted.
The two licences cover numerous old hard rock and alluvial tin workings within
and adjacent to the Mole Creek Leucogranite - the main source of tin
mineralisation in the district. Several interesting targets are already
identified including (Figure 1):
· Long Spur: A zone of NE tending sheeted veing (similar
orientation to Taronga) has been identified over at least 15m width with
stream sediment anomalies of 1100ppm Sn and 3300ppm Sn draining the area.
Sampling by the Geological Survey of New South Wales (GSNSW) has returned
assays of up to 1.9% Sn from surface grab samples and individual veins up to
0.3m wide are noted.
· Dingo Creek: Alluvial and hard rock tin workings in the area form
extensions and/or repetitions of existing TMPL targets.
· Butlers Extended: Extensions of the Butlers Lodes, one of the
larger historical hard rock tin producers, are interpreted.
· Catarrh Creek: This area is one of the more significant
historical alluvial tin producers outside the immediate Emmaville area, with
over 1,000t past production of tin concentrates. A hard rock source has not
been identified to date.
· Stannum Extensions: Stannum is one of TMPL's higher priority
targets and extensions of the target extend into this area.
· Romneys: Several hard rock and alluvial workings are known in the
area but little modern exploration has been undertaken to date.
These targets complement TMPLs existing targets and ensure that TMPL will have
access to almost all of the known tin targets in the Emmaville Tin Field once
the tenements are granted.
First Tin CEO, Bill Scotting commented:
"Acquiring these tenements supports our Hub and Spoke strategy, positioning
Taronga as a future central processing facility. While our immediate focus is
on bringing Taronga into production, continuing exploration in this highly
prospective area is a strategic priority for First Tin. The addition of these
two tenements to our portfolio further consolidates our exploration efforts in
the district."
Figure 1: New EL Application Areas
Competent Person Statement
Information in this announcement that relates to exploration results, data
quality and geological interpretations is based on information compiled by Mr
Antony Truelove. Mr Truelove is a Member of the Australian Institute of
Geoscientists (AIG) and the Australasian Institute of Mining and Metallurgy
(AusIMM). Mr Truelove has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration, and to the activities
undertaken, to qualify as a Competent Person as defined in the 2012 Edition of
the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves. Mr Truelove is Chief
Operating Officer of First Tin Plc and consents to the inclusion in this
announcement of the matters based on this information in the form and context
in which it appears.
Enquiries:
First Tin 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 has 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.
JORC Code, 2012 Edition - Table 1 Taronga Tin Project (TMPL)
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · Stream Sediment Sampling was undertaken by the Shell Company in the
specific specialised industry standard measurement tools appropriate to the early 1980s. Details are unknown and hence results should be treated with
minerals under investigation, such as down hole gamma sondes, or handheld XRF caution.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. · Rock Chip samples were collected and analysed by the GSNSW. Details
are unknown and hence results should be treated with caution.
· Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems used.
· Aspects of the determination of mineralisation that are Material to
the Public Report.
· In cases where 'industry standard' work has been done this would be
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for fire
assay'). In other cases more explanation may be required, such as where there
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may warrant disclosure of detailed
information.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · No drilling reported.
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc).
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · N/A
results assessed.
· Measures taken to maximise sample recovery and ensure representative
nature of the samples.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging · Whether core and chip samples have been geologically and · N/A
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies.
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography.
· The total length and percentage of the relevant intersections logged.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · N/A
taken.
· If non-core, whether riffled, tube sampled, rotary split, etc and
whether sampled wet or dry.
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples.
· Measures taken to ensure that the sampling is representative of the
in situ material collected, including for instance results for field
duplicate/second-half sampling.
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Unknown, historical data only.
laboratory procedures used and whether the technique is considered partial or
total.
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc.
· Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established.
Verification of sampling and assaying · The verification of significant intersections by either independent · None undertaken.
or alternative company personnel.
· The use of twinned holes.
· Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols.
· Discuss any adjustment to assay data.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · Most data is publically available data from GSNSW.
and down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation. · Data is shown in GDA94 coordinate system, Zone 56.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · N/A
· Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications applied.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · N/A
possible structures and the extent to which this is known, considering the
deposit type.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
Sample security · The measures taken to ensure sample security. · N/A
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · N/A
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · The project is secured by six granted tenements: EL7800, EL7801,
agreements or material issues with third parties such as joint ventures, EL8335, EL8407, EL9200 and ML 1774, all of which are currently in good
partnerships, overriding royalties, native title interests, historical sites, standing. These are held 100% by TMPL.
wilderness or national park and environmental settings.
· Three applications are currently active: ELA6814, ELA6836 and MLA624.
· The security of the tenure held at the time of reporting along with
any known impediments to obtaining a licence to operate in the area. · The only royalty is the state of NSW royalty of 4% on tin mined.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Exploration and feasibility studies were undertaken by various
parties, mainly between 1979 and 1984. This data has been used compiled and
used where applicable.
· This work was undertaken to a high standard and all data is
considered to be usable.
Geology · Deposit type, geological setting and style of mineralisation. · The Taronga tin deposit is a sheeted vein style +/- copper-silver
with horizontally and vertically extensive veins of
quartz-mica-cassiterite-sulphide +/-fluorite-topaz occurring over a combined
area of up to 2,700m by 270m.
· The veins vary in thickness from less than 0.5mm to 100mm but are
generally between 1mm and 10mm thick and average about 20 veins per metre.
· The host rock is hornfels derived by contact metamorphism of Permian
aged metasediments by Triassic-aged granites.
· The source of mineralising fluids is interpreted to be an underlying
intrusion of the Triassic Mole Leucogranite, a reduced, highly fractionated, A
to I type granite. The metals of interest (Sn, Cu, Ag) are interpreted to have
been enriched in the late magmatic fluid of this granite via enrichment of
incompatible elements during fractional crystallisation. Breaching of the
magma chamber during brittle faulting in an ENE orientation, a structural
corridor, has tapped these enriched fluids which have subsequently deposited
the metals due to changing temperature and pressure conditions and/or mixing
with meteoric fluids.
· Other styles of mineralisation in the district includes lode style
hard-rock tin veins between 10cm and 10m wide within the granite, alluvial
placer style tin and palaeo-alluvial deep lead style tin.
Drill hole Information · A summary of all information material to the understanding of the · N/A
exploration results including a tabulation of the following information for
all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in metres) of the
drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
· If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · N/A
maximum and/or minimum grade truncations (eg cutting of high grades) and
cut-off grades are usually Material and should be stated.
· Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · N/A
Exploration Results.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported.
· If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (eg 'down hole length, true width
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Summary plan attached.
intercepts should be included for any significant discovery being reported
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · All known results reported.
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · N/A
reported including (but not limited to): geological observations; geophysical
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work · The nature and scale of planned further work (eg tests for lateral · Proposed follow up will consist of geaological mapping, stream
extensions or depth extensions or large-scale step-out drilling). sediment and soil sampling, and drilling if warranted.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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