REG - First Tin PLC - Gottesberg Project MRE Update
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RNS Number : 0041D First Tin PLC 13 October 2025
13 October 2025
First Tin PLC
("First Tin" or "the Company")
Gottesberg Project MRE 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 finalised a revised Mineral Resource estimate
(MRE) for the Gottesberg project, Germany. The results confirm the global
significance of this historical project, with total Indicated and Inferred
Resources increased to 90,900 tonnes of contained Tin as shown in Table 1:
Table 1: Mineral Resource estimate as of 17th of September 2025 (The MRE is
reported using a 0.15% Sn cut-off grade. All values are rounded to reflect
confidence levels in the estimate.)
Category Tonnage Mt Sn % Contained Sn t
Indicated 6.1 0.23 14,200
Inferred 31.1 0.25 77,100
Total 37.0 0.25 90,900
The Mineral Resources are reported under the 2012 JORC Code &
Guidelines. Based on revised economic considerations, including the
increased tin price, and an improved geological understanding of the
mineralisation that suggests the mineralisation is more robust at lower
cut-off grades, the cut-off has been reduced from 0.35% Sn to 0.15% Sn. This
has resulted in the total Indicated and Inferred Resource base increasing from
the previously reported 33,000t tin to 90,900t tin with average grade
decreasing from 0.49% Sn to 0.25% Sn. This revised resource is more in line
with previously reported historical resource estimates, with wireframes now
being more geologically constrained rather than grade constrained.
The revised estimate takes First Tin's total tin resource base to 367,600t
tin, the largest undeveloped tin resource base in the OECD and one of the
largest undeveloped tin resource bases globally.
While there is insufficient assay data to quantify associated elements into
resources status, Exploration Targets have been estimated for copper,
tungsten, bismuth, arsenic, silver and gallium (see Table 2). The presence of
these critical raw materials, which are essential for various industries,
including electronics, defence, batteries, robotics, EV's and green energy
technologies, further enhances the strategic importance of this project within
the EU.
Table 2: Exploration Targets as of 17th of September 2025 for the by-products
Cu, WO3, As, Bi, Ag and Ga.
Main Zone Tonnage Range Mt Cu % WO(3) % Bi % As % Ag ppm Ga ppm
+
East Zone
Total 34.0 0.07 0.014 0.008 0.11 1.4 8
- - - - - - -
41.0 0.11 0.02 0.013 0.17 2.1 12
First Tin CEO, Bill Scotting commented:
"These results highlight the additional 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. Combined with our
Tellerhäuser project, First Tin's German resource is now 229,500 tonnes of
contained tin, which, with the considerable potential for other critically
important minerals, is especially relevant as Europe seeks to build security
in its critical minerals supply chain.
"At 367,600 tonnes of contained tin, First Tin has the largest undeveloped
OECD tin Resource base offering long term, low-risk growth options with
greater security of supply."
Competent Person's statement
The data of the report dated 17(th) September 2025 that relates to Exploration
Results, Mineral Resource Estimates and Exploration Targets is based on
information evaluated by Mr Simon Tear who is a Member of The Australasian
Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2012 Edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves (the
"JORC Code"). Mr Tear is a Director of H&S Consultants Pty Ltd, and he
consents to the inclusion in the report of the Mineral Resources in the form
and context in which they appear.
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)
George Esmond / Gwen Samuel 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.
Appendix: JORC CODE, 2012 EDITION - TABLE 1 Gottesberg Tin Project
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · The majority of the sampling comprises diamond drilling from both
specific specialised industry standard measurement tools appropriate to the underground and surface locations. Additional sampling for the Main Zone comes
minerals under investigation, such as down hole gamma sondes, or handheld XRF from underground channel sampling. Details of the drilling are included in the
instruments, etc). These examples should not be taken as limiting the broad table below.
meaning of sampling.
Year Company Type No of Holes Metres Hole Names
1967 GDR UGDD 39 1,351.15 HB1 to HB44
· Include reference to measures taken to ensure sample representivity and 1968 GDR UGDD 1 453.20 Tah_1_68
the appropriate calibration of any measurement tools or systems used. UGDD 5 176.05 SB34 to SB40
Sub-total 45 1980.4
· Aspects of the determination of mineralisation that are Material to the 1966-1984 GDR Surf_DD 24 17,172.10 Tah Holes
Public Report. 2011-2012 Sachsenzinn Surf_DD 3 1,056.53 SZ1 to SZ3
2021-2022 Saxore Surf_DD 16 2,080.60 SaxGB holes
· In cases where 'industry standard' work has been done this would be Sub-total 43 20309.23
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m Total 88 22289.63
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 UG Drives 122 2,942.52
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may warrant disclosure of detailed
· Sampling was generally as 1 or 2m intervals of sawn half or quarter
information. core under geological control to give a 2-4kg sample.
· Samples were then bagged and sent for laboratory analysis at both
internal and commercial laboratories.
· Sampling, sample preparation and analysis was completed to industry
standard procedures.
· Sample preparation involved drying, weighing, crushing and pulverising
of samples to give a pulp sample of 200-400g
· Analysis was by the most appropriate technique for the time.
· The mineralisation is characterised by cassiterite and minor sulphides
hosted by greisen alteration composed primarily of quartz and mica (usually
muscovite), often with fluorite, topaz, and tourmaline. The host rock is an
S-type granite with multiphase intrusions. The greisen alteration tends form
sub-vertical pipes often related to structural control.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary air Historic Drilling:
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type, · Six main phases of surface and underground diamond drilling were
whether core is oriented and if so, by what method, etc). undertaken from 1965 to 1983.
· Core size was generally 56mm in diameter (between NQ and HQ). For
underground drillhole Tah 1/68 core diameter was 101mm. No information is
available on the types of drill rigs were used.
Sachsenzinn Drilling.
· Diamond core drilling was undertaken by drilling contractor Brunnenbau
Conrad GmbH using a Nordmeyer DSB 3/14 drill rig and supervised by HGC
Hydro-Geo-Consult GmbH.
· Core diameter was 101mm.
Saxore Drilling
· Diamond core drilling was undertaken by drilling contractor GEOPS
Bohrgesellschaft mbH. using Atlas Copco Craelius drill rigs.
· Core size was HQ.
· No core orientations exist.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and Historic Drilling:
results assessed.
· Core recoveries were derived from measuring the length of drillcore
· Measures taken to maximise sample recovery and ensure representative between the driller's core blocks expressing it as a percentage of the
nature of the samples. drilling run.
· Whether a relationship exists between sample recovery and grade and · Core recoveries in fresh rock were generally greater than 95% except in
whether sample bias may have occurred due to preferential loss/gain of faulted or brecciated zones. No systematic core loss in mineralised zones was
fine/coarse material. noted.
Sachsenzinn Drilling
· Core recoveries were derived from measuring the length of drillcore
between the driller's core blocks expressing it as a percentage of the
drilling run.
· Core recoveries in fresh rock were generally greater than 95% except in
faulted or brecciated zones. No systematic core loss in mineralised zones was
noted.
Saxore Drilling:
· Core recoveries were derived from measuring the length of drillcore
between the driller's core blocks expressing it as a percentage of the
drilling run.
· All core intervals were measured with recovery generally above 95%
apart from isolated intervals with poor ground conditions, generally either
near surface or in fault zones. During directional drilling no core or
cuttings could be sampled. The loss for these areas was 100%.
· In all cases because most core recovery was above 95%, there was no
relationship between core recovery and Sn grade.
Logging · Whether core and chip samples have been geologically and geotechnically Historic
logged to a level of detail to support appropriate Mineral Resource
estimation, mining studies and metallurgical studies. · Logging consisted of hand-written detailed hardcopy graphic log sheets
completed by Wismut that have been transcribed by Saxore into digital data.
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography. · Logging included the drill run intervals, lithology, recovery and assay
data.
· The total length and percentage of the relevant intersections logged.
· Logging is qualitative; there is no core photography
· The level of information is good making it suitable for Mineral
Resource estimation.
· All relevant intersections have been logged.
Sachsenzinn Drilling
· All diamond drill cores from 3 holes have been geologically logged and
photographed (wet and dry) to a level of detail appropriate for Mineral
Resource estimation.
· Logging is qualitative.
· Rock types, specific alteration, degree of alteration, major textures,
mineralogy, recovery and RQD were logged.
Saxore Drilling
· All diamond drill cores have been geologically logged and photographed
(wet and dry) to a level of detail appropriate for Mineral Resource
estimation.
· Logging is qualitative.
· Rock types, specific alteration, major textures, grain sizes, degree of
disintegration of cores, recovery and RQD were documented.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core Historic Drilling
taken.
· Initially chip samples were taken from the bottom of the core at 2
· If non-core, whether riffled, tube sampled, rotary split, etc and metre intervals (drillholes Tah_1_68 to Tah_12_79) and 6 metre intervals
whether sampled wet or dry. (Tah_13_80 to Tah_22A_84) by hammering out a chip from the core at 10 cm
intervals. The rock chips from the core were analysed in the laboratory of the
· For all sample types, the nature, quality and appropriateness of the VEB GFE Halle, East-Germany.
sample preparation technique.
· Based on the results of the chip samples, core sampling via sawn half
· Quality control procedures adopted for all sub-sampling stages to core on 1 or 2 metre intervals was carried out on intervals with Sn
maximise representivity of samples. concentrations above 500 ppm.
· Measures taken to ensure that the sampling is representative of the in · Samples from old mine workings of the levels +84 m, +145 m and +665 m
situ material collected, including for instance results for field were analysed by the Rodewisch laboratory of the VEB Fluss- und
duplicate/second-half sampling. Schwerspatbetrieb Lengenfeld.
· Whether sample sizes are appropriate to the grain size of the material · A standard operating procedure for sample preparation was used, which
being sampled. corresponded to the international requirements at the time. Samples with a
range of weights from 0.5 kg to 4 kg were crushed and pulverised to give a 200
g pulp sample for analysis with a grain size of ≤ 0.063 mm. In addition, two
samples of 400 g each with a grain diameter ≤ 0.1 mm were retained but no
longer exist.
· Duplicate samples: QAQC included laboratory duplicates for internal
control and external control. There is a small positive bias for the duplicate
samples of the external control suggesting either a possible under-reporting
of the original results or an over-reporting of the duplicate results.
· The elements silver, boron, beryllium, bismuth, copper, lithium,
manganese, molybdenum, niobium, lead and Sn were analysed by emission
spectroscopy. The elements arsenic, barium, antimony, tungsten and zinc were
analysed using X-ray fluorescence.
· 30 samples per batch were analysed by a wet-chemical method at the
VEB GFE laboratory in Freiberg for tin, arsenic, sulphide sulphur, copper and
bismuth. Whilst the same set of samples were analysed by a wet chemical method
for fluorine and tungsten at the VEB Fluss- und Schwerspatbetrieb Lengenfeld
laboratory.
Drilling Sachsenzinn:
· The drill core samples were sent in 14 batches of approximately 75
samples each to the ALS Laboratories in Pitea, Sweden, for sample preparation.
Each sample was crushed to at least 90 % of the mass <2 mm and halved using
a riffle sample splitter. One half of the sample was then pulverised to at
least 85% of the mass <75 μm and a sub-sample of the pulp was sent to ALS
in Vancouver, Canada for analysis.
· QAQC included laboratory duplicates which indicated no issues with
the sample preparation (homogenisation) or assaying.
Drilling Saxore.
· The drill core samples were sent to ALS in Rosia Montana, Romania.
The core sample was crushed and split to around 1kg <2 mm using method
CRU-31, then pulverised in a mill to 85% <75µm using PUL-32method.
· QAQC included laboratory duplicates which indicated no issues with
the sample preparation (homogenisation) or assaying.
· All 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 laboratory Historic:
procedures used and whether the technique is considered partial or total.
· The tin content was determined following Wismut laboratory protocols
· For geophysical tools, spectrometers, handheld XRF instruments, etc, using wet chemical analysis with alkali fusion, reduction, and iodine
the parameters used in determining the analysis including instrument make and titration. The endpoint was indicated by a transparent-to-blue colour change,
model, reading times, calibrations factors applied and their derivation, etc. with iodine consumption directly proportional to the Sn concentration. Each
1ml of added reagent corresponds to 0.5935 mg Sn in the sample.
· Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of · Historic data comprised the use of internal standards and both internal
accuracy (ie lack of bias) and precision have been established. and external analyses of duplicated samples. All results were reported as
indicating no issues with the sampling and assaying. However no documentation
of the standards used are available.
Drilling Sachsenzinn:
· The following analysis were performed on the pulp sub-sample:
o ME-XRF10 for elements Sn and W using lithium borate digestion followed by
analysis by XRF
o ME-MS42 for Sn using aqua regia digestion followed by analysis using ICP
mass spectrometry (MS)
o ME-MS61 for 33 elements using four acid ICP-AES
o ELE82 for F using sodium peroxide fusion digestion and citric acid
leaching followed by analysis using an ion-selective electrode
o ICP21 for Au using fire and aqua regia digestion followed by analysis
using ICP atomic emission spectrometry
· The above methods are considered total digest techniques (except
ME-MS42) and are appropriate for the style of mineralisation.
· The MP-1b standard certified by Canadian Certified Reference
Materials (CCRMP) was used as the Sn standard. Results showed good accuracy
and precision.
· No independent QAQC was implemented. Only laboratory internal QAQC
data was reported comprising 10 standards, 10 Laboratory duplicates and 20
blank samples.
Drilling Saxore.
· The sub-sample of the pulverised and homogenised material is fused with
lithium borate. The fused bead is then analysed by a mass spectrometer using
method ME-MS85 which reports Sn and In. This returns a total Sn content,
including Sn as cassiterite. Over limit assays of Sn are re-analysed using
method ME-XRF15b which involves fusion with lithium metaborate with a lithium
tetraborate flux containing 20% NaNO(3) and an XRF finish.
· Other elements are analysed by method ME-ICP61. This involves a 4-acid
digest (HF-HNO3-HCLO4) digest, an HCl leach and an ICP-AES finish. A suite of
33 elements is reported.
· Prior to dispatch of samples, the following QA/QC samples are added:
o Certified standards representative of the grades expected are added at the
rate of 1 in 20 samples.
o Blanks are added at the rate of 1 in 20 samples.
· Results of Certified Reference Materials for Sn show good accuracy and
precision. The analytical method is considered appropriate.
· Results for blank samples demonstrated that the chosen material was
not pure enough to be used as a blank. This means cross-contamination during
sample preparation and analysis could not be monitored.
Verification of sampling and assaying · The verification of significant intersections by either independent or Historic:
alternative company personnel.
· During the GDR period, there was a methodological guideline for the
· The use of twinned holes. logging, assaying and verification of data for tin deposit exploration in the
Erzgebirge. Field geologists were supervised by the GDR's principal geologist.
· Documentation of primary data, data entry procedures, data All documents, which are also available as hard copies, list the geologists
verification, data storage (physical and electronic) protocols. who carried out the logging, assaying, etc. Each document was signed by senior
geologists in charge. Many documents from the 1960s are handwritten, while
· Discuss any adjustment to assay data. documents from the 1980s, with the exception of geological field books, are
typewritten.
· All data was in hardcopy format and has been digitised by Tin
International. Checks by Saxore has found only minor errors and the digital
data is considered to be of good quality.
· As part of H&SC's site visit core was checked from a range of both
historic and recent drillholes. Unfortunately, the amount of historic core
from the Tah drillholes was limited to a few higher grade mineral intercepts
totalling 35m plus an end of hole section of 948.5m to 1200m from Tah_4_77. No
issues were noted.
· Due to the privatisation of the GDR laboratories in the 1990s, a large
part of the archive data was destroyed. As a result, there is hardly any
information about the standards used and the control analyses determined. But
corresponding results of the control analyses and error estimates are
documented in the report.
· No twin holes were completed.
Drilling Sachsenzinn:
· H&SC's site visit incorporated viewing of drillhole SZ3. No issues
were noted.
· No details of senior management inspections of the drill intercepts are
available.
· Sachsenzinn performed hole twinning with drillhole SZ1 duplicating the
GDR drillhole Tah_4_77 in the range of 0m to 400m. Geochemical analysis were
undertaken between 125m-400m. Hole Tah_4_77 showed an average Sn grade of
0.18% Sn and the corresponding drillhole SZ1 showed 0.17% Sn for the same
interval.
· Primary data for the drillhole logging consisted of hardcopy versions
that were transcribed into digital Excel files along with core photographs.
Assay data from ALS was stored as protected PDF files. No third parties were
given access to the data files.
· Saxore completed a full visual check of the Sachsenzinn hardcopy logs
and database.
Drilling Saxore:
· H&SC's site visit incorporated viewing of drillhole SAXGB002-3. No
issues were noted.
· Mineral intercepts were reviewed by the Saxore project geologist
including handheld XRF checks for tin.
· Primary data for the drillhole logging consisted of hardcopy versions
that were transcribed into digital Excel files along with core photographs.
Assay data from ALS was stored as protected PDF files. No third parties were
given access to the data files.
· Data validation involved visual checks by an alternate company
geologist with further validation completed using the Micromine software.
· No adjustments were made to any of the data except the replacement of
below lower detection limit results with half lower detection limit values.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar and · All location information is in the metric coordinate reference system
down-hole surveys), trenches, mine workings and other locations used in UTM ETRS89 Zone 33N as measured or transformed from historic reference systems
Mineral Resource estimation. by Saxore.
· Specification of the grid system used. Historic:
· Quality and adequacy of topographic control. · In the 1976 to 1984 drilling campaigns, drill collars were surveyed
using a closed loop theodolite method tied into the national grid. It is
uncertain if this method was used for the earlier or later drilling campaigns.
· Downhole surveys for the early drilling were measured using a
Multigraph Inclinometer at 10 to 25m intervals. This apparatus had an accuracy
of 0.5° for the dip angle and 3° for the azimuth. The final phase of
drilling saw the use of camera surveys although no details are known. All
survey data were summarised in a report. The results were recorded in the
drillhole database.
Drilling Sachsenzinn:
· Drill hole collar locations were determined by K. & S. Vermessung,
Qualified Surveyors using a total station and triangulating from official
reference points.
· Down-hole surveys were made at 1m interval by GFL - Dr. Lux
Geophysikalische Fachberatung GbR using a Century 9622 down-hole instrument.
Drilling Saxore.
· All drill holes were pre-planned and located by use of a handheld GPS.
Holes were originally sited and angled using compass and clinometer. Prior to
drilling, hole collars were surveyed with an RTK-+official correction data
from Geological Survey of Saxony. The GPS device was calibrated using
reference points and has an accuracy of 1 to 2cm
· GEOPS carried out down-hole orientation surveys with measurements at 25
m intervals using Devico north seeking gyro navigation.
· Topographical data is from the public data of the Geological Survey of
Saxony, including WMS maps and DTM2. The data is of a suitable quality and
adequately covers the area under investigation.
· The digital terrain model is based on laser scan data from 2020 with an
accuracy of +/-30cm. The topographic surface is generated from 2m gridded data
from this survey.
Data spacing and distribution · Data spacing for reporting of Exploration Results. Historic:
· Whether the data spacing and distribution is sufficient to establish · Sub-vertical surface holes were completed at a nominal 100m spacing
the degree of geological and grade continuity appropriate for the Mineral with downhole sample spacing ranging between 0.1m and 8.9m in part due to
Resource and Ore Reserve estimation procedure(s) and classifications applied. geological control. Average sample length is 2.2m.
· Whether sample compositing has been applied. · Underground drilling from the lowest development level with a range of
hole spacings from 10 to 50m and with a range of horizontal and declined
angles. Nominal sample spacing is 1m.
· Three levels of drive development at a nominal 50m elevation spacing
with orthogonal cross cuts at 25m spacing with a nominal 1m sample spacing.
Drilling Sachsenzinn:
· Three widely spaced holes with 0.5 to 1m sample spacing via geological
control.
Drilling Saxore:
· Three fans of holes at 50m spacing with 1m sample spacing
· Data spacing is sufficient to establish the geological and grade
continuity appropriate for the Mineral Resource estimation and classification
procedures applied in this report.
· No sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of Historic:
possible structures and the extent to which this is known, considering the
deposit type. · The close spaced sampling associated with the development drives does
not necessarily support vertical zonation of the Sn mineralisation. Therefore
· If the relationship between the drilling orientation and the drilling of vertical holes has not necessarily introduced bias sampling.
orientation of key mineralised structures is considered to have introduced a Likewise the underground drillholes which are a mixture of horizontal, angled
sampling bias, this should be assessed and reported if material. and vertical holes has not necessarily introduced a sampling bias.
· The variations in sampling orientation for the Main Zone are believed
to have mitigated any sampling bias. For the East Zone only vertical holes
have been drilled and have intersected the interpreted mineralisation at a
relatively shallow angle. Thus there is the possibility of sample bias and
this has been reflected in the classification of the Mineral Resources.
Drilling Sachsenzinn:
· Sachsenzinn drilled three holes: one vertical twin hole and two holes
angled obliquely, drilling across greisen zone. The limited drilling has not
introduced any sampling bias.
Drilling Saxore.
· The fan drilling involved angle drillholes that cut across the greisen
zone at moderate angles and therefore had a limited effect on any sampling
bias.
Sample security · The measures taken to ensure sample security. Historic:
· This was a state-owned exploration project during GDR times and
security was thus very tight. No reason to suspect any security issues for the
cores and samples.
Drilling Sachsenzinn and Saxore:
· Core was transported from the drill site in sealed core boxes. All core
and sample material was stored in a locked facility. Samples for analysis were
packed in polyweave bags and shrunk-wrapped on pallets and sent as batches to
the laboratory. All transportation was done by authorised personnel only.
Sample transportation was cross-checked by sample list completeness of number
of samples and sample weight.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · Audits and reviews were conducted at regular intervals during the GDR
era but results are not currently available.
· No audits or reviews of sampling techniques and data have been
completed for the Sachsenzinn or Saxore drilling.
· Sampling was generally as 1 or 2m intervals of sawn half or quarter
core under geological control to give a 2-4kg sample.
· Samples were then bagged and sent for laboratory analysis at both
internal and commercial laboratories.
· Sampling, sample preparation and analysis was completed to industry
standard procedures.
· Sample preparation involved drying, weighing, crushing and pulverising
of samples to give a pulp sample of 200-400g
· Analysis was by the most appropriate technique for the time.
· The mineralisation is characterised by cassiterite and minor sulphides
hosted by greisen alteration composed primarily of quartz and mica (usually
muscovite), often with fluorite, topaz, and tourmaline. The host rock is an
S-type granite with multiphase intrusions. The greisen alteration tends form
sub-vertical pipes often related to structural control.
Drilling techniques
· Drill type (eg core, reverse circulation, open-hole hammer, rotary 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).
Historic Drilling:
· Six main phases of surface and underground diamond drilling were
undertaken from 1965 to 1983.
· Core size was generally 56mm in diameter (between NQ and HQ). For
underground drillhole Tah 1/68 core diameter was 101mm. No information is
available on the types of drill rigs were used.
Sachsenzinn Drilling.
· Diamond core drilling was undertaken by drilling contractor Brunnenbau
Conrad GmbH using a Nordmeyer DSB 3/14 drill rig and supervised by HGC
Hydro-Geo-Consult GmbH.
· Core diameter was 101mm.
Saxore Drilling
· Diamond core drilling was undertaken by drilling contractor GEOPS
Bohrgesellschaft mbH. using Atlas Copco Craelius drill rigs.
· Core size was HQ.
· No core orientations exist.
Drill sample recovery
· Method of recording and assessing core and chip sample recoveries and
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.
Historic Drilling:
· Core recoveries were derived from measuring the length of drillcore
between the driller's core blocks expressing it as a percentage of the
drilling run.
· Core recoveries in fresh rock were generally greater than 95% except in
faulted or brecciated zones. No systematic core loss in mineralised zones was
noted.
Sachsenzinn Drilling
· Core recoveries were derived from measuring the length of drillcore
between the driller's core blocks expressing it as a percentage of the
drilling run.
· Core recoveries in fresh rock were generally greater than 95% except in
faulted or brecciated zones. No systematic core loss in mineralised zones was
noted.
Saxore Drilling:
· Core recoveries were derived from measuring the length of drillcore
between the driller's core blocks expressing it as a percentage of the
drilling run.
· All core intervals were measured with recovery generally above 95%
apart from isolated intervals with poor ground conditions, generally either
near surface or in fault zones. During directional drilling no core or
cuttings could be sampled. The loss for these areas was 100%.
· In all cases because most core recovery was above 95%, there was no
relationship between core recovery and Sn grade.
Logging
· Whether core and chip samples have been geologically and 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.
Historic
· Logging consisted of hand-written detailed hardcopy graphic log sheets
completed by Wismut that have been transcribed by Saxore into digital data.
· Logging included the drill run intervals, lithology, recovery and assay
data.
· Logging is qualitative; there is no core photography
· The level of information is good making it suitable for Mineral
Resource estimation.
· All relevant intersections have been logged.
Sachsenzinn Drilling
· All diamond drill cores from 3 holes have been geologically logged and
photographed (wet and dry) to a level of detail appropriate for Mineral
Resource estimation.
· Logging is qualitative.
· Rock types, specific alteration, degree of alteration, major textures,
mineralogy, recovery and RQD were logged.
Saxore Drilling
· All diamond drill cores have been geologically logged and photographed
(wet and dry) to a level of detail appropriate for Mineral Resource
estimation.
· Logging is qualitative.
· Rock types, specific alteration, major textures, grain sizes, degree of
disintegration of cores, recovery and RQD were documented.
Sub-sampling techniques and sample preparation
· If core, whether cut or sawn and whether quarter, half or all core
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.
Historic Drilling
· Initially chip samples were taken from the bottom of the core at 2
metre intervals (drillholes Tah_1_68 to Tah_12_79) and 6 metre intervals
(Tah_13_80 to Tah_22A_84) by hammering out a chip from the core at 10 cm
intervals. The rock chips from the core were analysed in the laboratory of the
VEB GFE Halle, East-Germany.
· Based on the results of the chip samples, core sampling via sawn half
core on 1 or 2 metre intervals was carried out on intervals with Sn
concentrations above 500 ppm.
· Samples from old mine workings of the levels +84 m, +145 m and +665 m
were analysed by the Rodewisch laboratory of the VEB Fluss- und
Schwerspatbetrieb Lengenfeld.
· A standard operating procedure for sample preparation was used, which
corresponded to the international requirements at the time. Samples with a
range of weights from 0.5 kg to 4 kg were crushed and pulverised to give a 200
g pulp sample for analysis with a grain size of ≤ 0.063 mm. In addition, two
samples of 400 g each with a grain diameter ≤ 0.1 mm were retained but no
longer exist.
· Duplicate samples: QAQC included laboratory duplicates for internal
control and external control. There is a small positive bias for the duplicate
samples of the external control suggesting either a possible under-reporting
of the original results or an over-reporting of the duplicate results.
· The elements silver, boron, beryllium, bismuth, copper, lithium,
manganese, molybdenum, niobium, lead and Sn were analysed by emission
spectroscopy. The elements arsenic, barium, antimony, tungsten and zinc were
analysed using X-ray fluorescence.
· 30 samples per batch were analysed by a wet-chemical method at the
VEB GFE laboratory in Freiberg for tin, arsenic, sulphide sulphur, copper and
bismuth. Whilst the same set of samples were analysed by a wet chemical method
for fluorine and tungsten at the VEB Fluss- und Schwerspatbetrieb Lengenfeld
laboratory.
Drilling Sachsenzinn:
· The drill core samples were sent in 14 batches of approximately 75
samples each to the ALS Laboratories in Pitea, Sweden, for sample preparation.
Each sample was crushed to at least 90 % of the mass <2 mm and halved using
a riffle sample splitter. One half of the sample was then pulverised to at
least 85% of the mass <75 μm and a sub-sample of the pulp was sent to ALS
in Vancouver, Canada for analysis.
· QAQC included laboratory duplicates which indicated no issues with
the sample preparation (homogenisation) or assaying.
Drilling Saxore.
· The drill core samples were sent to ALS in Rosia Montana, Romania.
The core sample was crushed and split to around 1kg <2 mm using method
CRU-31, then pulverised in a mill to 85% <75µm using PUL-32method.
· QAQC included laboratory duplicates which indicated no issues with
the sample preparation (homogenisation) or assaying.
· All 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 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.
Historic:
· The tin content was determined following Wismut laboratory protocols
using wet chemical analysis with alkali fusion, reduction, and iodine
titration. The endpoint was indicated by a transparent-to-blue colour change,
with iodine consumption directly proportional to the Sn concentration. Each
1ml of added reagent corresponds to 0.5935 mg Sn in the sample.
· Historic data comprised the use of internal standards and both internal
and external analyses of duplicated samples. All results were reported as
indicating no issues with the sampling and assaying. However no documentation
of the standards used are available.
Drilling Sachsenzinn:
· The following analysis were performed on the pulp sub-sample:
o ME-XRF10 for elements Sn and W using lithium borate digestion followed by
analysis by XRF
o ME-MS42 for Sn using aqua regia digestion followed by analysis using ICP
mass spectrometry (MS)
o ME-MS61 for 33 elements using four acid ICP-AES
o ELE82 for F using sodium peroxide fusion digestion and citric acid
leaching followed by analysis using an ion-selective electrode
o ICP21 for Au using fire and aqua regia digestion followed by analysis
using ICP atomic emission spectrometry
· The above methods are considered total digest techniques (except
ME-MS42) and are appropriate for the style of mineralisation.
· The MP-1b standard certified by Canadian Certified Reference
Materials (CCRMP) was used as the Sn standard. Results showed good accuracy
and precision.
· No independent QAQC was implemented. Only laboratory internal QAQC
data was reported comprising 10 standards, 10 Laboratory duplicates and 20
blank samples.
Drilling Saxore.
· The sub-sample of the pulverised and homogenised material is fused with
lithium borate. The fused bead is then analysed by a mass spectrometer using
method ME-MS85 which reports Sn and In. This returns a total Sn content,
including Sn as cassiterite. Over limit assays of Sn are re-analysed using
method ME-XRF15b which involves fusion with lithium metaborate with a lithium
tetraborate flux containing 20% NaNO(3) and an XRF finish.
· Other elements are analysed by method ME-ICP61. This involves a 4-acid
digest (HF-HNO3-HCLO4) digest, an HCl leach and an ICP-AES finish. A suite of
33 elements is reported.
· Prior to dispatch of samples, the following QA/QC samples are added:
o Certified standards representative of the grades expected are added at the
rate of 1 in 20 samples.
o Blanks are added at the rate of 1 in 20 samples.
· Results of Certified Reference Materials for Sn show good accuracy and
precision. The analytical method is considered appropriate.
· Results for blank samples demonstrated that the chosen material was
not pure enough to be used as a blank. This means cross-contamination during
sample preparation and analysis could not be monitored.
Verification of sampling and assaying
· The verification of significant intersections by either independent 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.
Historic:
· During the GDR period, there was a methodological guideline for the
logging, assaying and verification of data for tin deposit exploration in the
Erzgebirge. Field geologists were supervised by the GDR's principal geologist.
All documents, which are also available as hard copies, list the geologists
who carried out the logging, assaying, etc. Each document was signed by senior
geologists in charge. Many documents from the 1960s are handwritten, while
documents from the 1980s, with the exception of geological field books, are
typewritten.
· All data was in hardcopy format and has been digitised by Tin
International. Checks by Saxore has found only minor errors and the digital
data is considered to be of good quality.
· As part of H&SC's site visit core was checked from a range of both
historic and recent drillholes. Unfortunately, the amount of historic core
from the Tah drillholes was limited to a few higher grade mineral intercepts
totalling 35m plus an end of hole section of 948.5m to 1200m from Tah_4_77. No
issues were noted.
· Due to the privatisation of the GDR laboratories in the 1990s, a large
part of the archive data was destroyed. As a result, there is hardly any
information about the standards used and the control analyses determined. But
corresponding results of the control analyses and error estimates are
documented in the report.
· No twin holes were completed.
Drilling Sachsenzinn:
· H&SC's site visit incorporated viewing of drillhole SZ3. No issues
were noted.
· No details of senior management inspections of the drill intercepts are
available.
· Sachsenzinn performed hole twinning with drillhole SZ1 duplicating the
GDR drillhole Tah_4_77 in the range of 0m to 400m. Geochemical analysis were
undertaken between 125m-400m. Hole Tah_4_77 showed an average Sn grade of
0.18% Sn and the corresponding drillhole SZ1 showed 0.17% Sn for the same
interval.
· Primary data for the drillhole logging consisted of hardcopy versions
that were transcribed into digital Excel files along with core photographs.
Assay data from ALS was stored as protected PDF files. No third parties were
given access to the data files.
· Saxore completed a full visual check of the Sachsenzinn hardcopy logs
and database.
Drilling Saxore:
· H&SC's site visit incorporated viewing of drillhole SAXGB002-3. No
issues were noted.
· Mineral intercepts were reviewed by the Saxore project geologist
including handheld XRF checks for tin.
· Primary data for the drillhole logging consisted of hardcopy versions
that were transcribed into digital Excel files along with core photographs.
Assay data from ALS was stored as protected PDF files. No third parties were
given access to the data files.
· Data validation involved visual checks by an alternate company
geologist with further validation completed using the Micromine software.
· No adjustments were made to any of the data except the replacement of
below lower detection limit results with half lower detection limit values.
Location of data points
· Accuracy and quality of surveys used to locate drill holes (collar and
down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
· All location information is in the metric coordinate reference system
UTM ETRS89 Zone 33N as measured or transformed from historic reference systems
by Saxore.
Historic:
· In the 1976 to 1984 drilling campaigns, drill collars were surveyed
using a closed loop theodolite method tied into the national grid. It is
uncertain if this method was used for the earlier or later drilling campaigns.
· Downhole surveys for the early drilling were measured using a
Multigraph Inclinometer at 10 to 25m intervals. This apparatus had an accuracy
of 0.5° for the dip angle and 3° for the azimuth. The final phase of
drilling saw the use of camera surveys although no details are known. All
survey data were summarised in a report. The results were recorded in the
drillhole database.
Drilling Sachsenzinn:
· Drill hole collar locations were determined by K. & S. Vermessung,
Qualified Surveyors using a total station and triangulating from official
reference points.
· Down-hole surveys were made at 1m interval by GFL - Dr. Lux
Geophysikalische Fachberatung GbR using a Century 9622 down-hole instrument.
Drilling Saxore.
· All drill holes were pre-planned and located by use of a handheld GPS.
Holes were originally sited and angled using compass and clinometer. Prior to
drilling, hole collars were surveyed with an RTK-+official correction data
from Geological Survey of Saxony. The GPS device was calibrated using
reference points and has an accuracy of 1 to 2cm
· GEOPS carried out down-hole orientation surveys with measurements at 25
m intervals using Devico north seeking gyro navigation.
· Topographical data is from the public data of the Geological Survey of
Saxony, including WMS maps and DTM2. The data is of a suitable quality and
adequately covers the area under investigation.
· The digital terrain model is based on laser scan data from 2020 with an
accuracy of +/-30cm. The topographic surface is generated from 2m gridded data
from this survey.
Data spacing and distribution
· Data spacing for reporting of Exploration Results.
· 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.
Historic:
· Sub-vertical surface holes were completed at a nominal 100m spacing
with downhole sample spacing ranging between 0.1m and 8.9m in part due to
geological control. Average sample length is 2.2m.
· Underground drilling from the lowest development level with a range of
hole spacings from 10 to 50m and with a range of horizontal and declined
angles. Nominal sample spacing is 1m.
· Three levels of drive development at a nominal 50m elevation spacing
with orthogonal cross cuts at 25m spacing with a nominal 1m sample spacing.
Drilling Sachsenzinn:
· Three widely spaced holes with 0.5 to 1m sample spacing via geological
control.
Drilling Saxore:
· Three fans of holes at 50m spacing with 1m sample spacing
· Data spacing is sufficient to establish the geological and grade
continuity appropriate for the Mineral Resource estimation and classification
procedures applied in this report.
· No sample compositing has been applied.
Orientation of data in relation to geological structure
· Whether the orientation of sampling achieves unbiased sampling of
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.
Historic:
· The close spaced sampling associated with the development drives does
not necessarily support vertical zonation of the Sn mineralisation. Therefore
drilling of vertical holes has not necessarily introduced bias sampling.
Likewise the underground drillholes which are a mixture of horizontal, angled
and vertical holes has not necessarily introduced a sampling bias.
· The variations in sampling orientation for the Main Zone are believed
to have mitigated any sampling bias. For the East Zone only vertical holes
have been drilled and have intersected the interpreted mineralisation at a
relatively shallow angle. Thus there is the possibility of sample bias and
this has been reflected in the classification of the Mineral Resources.
Drilling Sachsenzinn:
· Sachsenzinn drilled three holes: one vertical twin hole and two holes
angled obliquely, drilling across greisen zone. The limited drilling has not
introduced any sampling bias.
Drilling Saxore.
· The fan drilling involved angle drillholes that cut across the greisen
zone at moderate angles and therefore had a limited effect on any sampling
bias.
Sample security
· The measures taken to ensure sample security.
Historic:
· This was a state-owned exploration project during GDR times and
security was thus very tight. No reason to suspect any security issues for the
cores and samples.
Drilling Sachsenzinn and Saxore:
· Core was transported from the drill site in sealed core boxes. All core
and sample material was stored in a locked facility. Samples for analysis were
packed in polyweave bags and shrunk-wrapped on pallets and sent as batches to
the laboratory. All transportation was done by authorised personnel only.
Sample transportation was cross-checked by sample list completeness of number
of samples and sample weight.
Audits or reviews
· The results of any audits or reviews of sampling techniques and data.
· Audits and reviews were conducted at regular intervals during the GDR
era but results are not currently available.
· No audits or reviews of sampling techniques and data have been
completed for the Sachsenzinn or Saxore drilling.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · First Tin, via its 100% owned subsidiary Saxore, holds a valid
agreements or material issues with third parties such as joint ventures, Exploration Licence (EL) for mineral exploration resources within the
partnerships, overriding royalties, native title interests, historical sites, "Gottesberg II" licence which contains the Gottesberg Project (licence number:
wilderness or national park and environmental settings. 1681). The EL was issued in compliance with the Federal Mining Act and is
valid until the 6(th) December 2025. The EL can be extended upon application.
· 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. · This EL is valid for the exploration for tin, copper, tungsten, silver,
caesium, gallium, gold, indium, lithium, molybdenum, rhenium, rubidium,
scandium, tantalum, tellurium, bismuth and zinc.
· The area is in a region of spruce and mixed forests. The environment
has been affected in the past by previous mining activities. No immediate
environmental impediments are obvious other than the surface disturbance
caused by low level exploration activity.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Significant exploration work was undertaken by a Soviet - East German
joint venture and the state-owned GDR Geological Survey. The work was
completed to a good standard and the results are utilised in the current
estimation of Mineral Resources.
· During the period 2007 to 2019 the company Sachsenzinn GmbH, later
renamed to Tin International AG, a subsidiary of the Deutsche Rohstoff AG
undertook exploration in the Gottesberg area. The work mainly comprised
resource definition drillholes and was completed to industry standards.
· No other activities are known in the project area.
Geology · Deposit type, geological setting and style of mineralisation. · In the area of the Gottesberg deposit, a great variety of igneous
country rocks exists. The predominant host rock is granite of the EIB type.
This granite was intruded by multiple sub-volcanic intrusions associated with
explosive brecciation, forming a polycentric system of pipe- to dyke-shaped
bodies, usually summarised as the "Gottesberg sub-volcanic suite".
· Shallow levels of the deposit are dominated by mainly NW-SE trending
dykes, which show higher abundancies and increasing widths at depth.
· The Gottesberg Sn deposit is associated with a complex polycentric
system of greisen bodies formed by post-magmatic metasomatism. Their
distribution and shape are related to the occurrence of the breccias and
sub-volcanics mentioned above. Hence, there is a genetic relation between the
intrusion of the sub-volcanics and the greisenisation. The majority of the
greisen is formed as exogreisen in the granite, above and around the
sub-volcanics, and their apical zones.
· The internal structure of the individual greisen bodies is highly
complex, down to a decimetric scale, but can be simplified to an inner zone in
which topaz and quartz greisens predominate over mica greisen and an outer
zone where mica greisen is more abundant. In shallow levels of the greisen
bodies, outer greisen typically dominates while the volume ratio shifts
towards inner greisen with greater depth. Economically relevant
Sn-mineralisation commonly occurs in the inner greisen.
· The granite surrounding the greisen bodies shows alteration halos
with hematised K-feldspars. Their width can reach up to 200 m.
· Approx. 56 % of the Sn deposit consists of greisenised rocks, 33 % of
which are mineralised with Sn and 16 % with copper.
· Two generations of cassiterite are recognised. The origin of the
first Cassiterite I is related to the main phase of metasomatism. Cassiterite
II is found mainly in veins and miaroles and was therefore probably formed
during the younger intrusion phase.
· Below 500m depth there is a marked appearance and abundance of Fe-Cu-As
sulphides and Bi sulphides as host rock disseminations, in veinlets and nodes
in miarolithic cavities.
Drill hole Information · A summary of all information material to the understanding of the · Exploration Results are not being reported
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, · Exploration Results are not being reported
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 · Exploration Results are not being reported
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 · Exploration Results are not being reported
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 · Exploration Results are not being 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 reported · Exploration Results are not being 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 · Exploration Results are not being reported
extensions or depth extensions or large-scale step-out drilling).
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
Section 3 Estimation and Reporting of Mineral Resources
(Criteria listed in section 1, and where relevant in section 2, also apply to
this section)
Criteria JORC Code explanation Commentary
Database integrity · Measures taken to ensure that data has not been corrupted by, for · All historic drilling data was in hardcopy format and has been
example, transcription or keying errors, between its initial collection and digitised and compiled by Saxore into an MSAccess database.
its use for Mineral Resource estimation purposes.
· Visual checks by the project geologists of hardcopy data with the
· Data validation procedures used. digital database has found only minor errors which were corrected, and the
digital data is considered to be of good quality.
· A data validation exercise was completed by H&SC checking the
database for consistency. Validation checks on a selection of historic and
recent drillholes included viewing paper logs and assays against the digital
database and viewing core in relation to hardcopy data. The validation
confirmed that the database was acceptable for resource estimation.
· The precision and accuracy of the analytical techniques appear
appropriate for mineral resource estimation.
Site visits · Comment on any site visits undertaken by the Competent Person and the · A site visit was conducted by the Competent Person, Simon Tear of H
outcome of those visits. & S Consultants Pty Ltd, from the 19(th) to 22(nd) May 2025. The visit was
for data validation purposes and included an inspection of historic drillcore
· If no site visits have been undertaken indicate why this is the case. at the Saxony Geological Survey core store and more recent drillcore at the
Saxore core store.
· A field visit was conducted to inspect the drill sites and the
geology of the Gottesberg deposit.
· Discussions relating to the geology of the deposit were undertaken
including a review of the resource estimation methodology employed by Saxore.
Geological interpretation · Confidence in (or conversely, the uncertainty of ) the geological · A review of the drilling data resulted in two domains for the
interpretation of the mineral deposit. Gotteberg Sn deposit, a Main Zone (in the west) and an East Zone. The
domaining was based on drilling density and the interpretation of a dividing
· Nature of the data used and of any assumptions made. fault zone in the middle of the deposit. There is a moderate level of
confidence in the geological interpretation despite the use of vertical
· The effect, if any, of alternative interpretations on Mineral Resource drillholes.
estimation.
· The Main Zone was defined as a 3D solid by using Micromine's
· The use of geology in guiding and controlling Mineral Resource AI-integrated copilot combined with an implicit modelling methodology
estimation. including Micromine's 'Vein Interpolator' and 'plutonic interpolator'. This
used a combination of lithological and Sn-grade information with a nominal
· The factors affecting continuity both of grade and geology. 0.05% Sn cut off on drillhole data.
· The East Zone was interpreted as a steeply dipping higher grade
dyke-like body of greisen mineralisation with a lower grade halo of Sn
mineralisation. For the purpose of resource estimation these two features were
combined into a single 3D wireframe. Previous interpreted geology, Sn grades,
logged lithology and geochemical patterns were used to generate the wireframe.
· Oxidation via hematisation and limonitisation are widespread in
drillholes, reflecting complex multi-stage overprints on the rocks. The
oxidation often masks other alterations and/or textures but no influence on Sn
mineralisation could be observed.
· The main control to Sn mineralisation is the distribution of greisen.
o The Gottesberg Sn deposit is associated with a complex polycentric system
of greisen bodies formed through post-magmatic metasomatism. Their
distribution and shape are directly related to the occurrence of breccias and
sub-volcanics as mentioned above. Hence, a genetic relation between the
intrusion of the sub-volcanics and the greisenisation is assumed.
o The internal structure of the individual greisen bodies is highly complex,
even down to decimetric scale, but can be simplified to an inner zone in which
topaz and quartz greisens predominate over mica greisen and an outer zone
where mica greisen is more abundant.
· The existing interpretation honours all the available data. An
alternative interpretation is possible comprising two thick flat-lying zones
of Sn mineralisation but the effect on the overall size of the resource
estimate is no different to the steep-dipping model.
Dimensions · The extent and variability of the Mineral Resource expressed as length · The Main Zone Mineral Resources have an E-W strike length of 315m, a
(along strike or otherwise), plan width, and depth below surface to the upper vertical dip extent of 530m and a plan width of 300m. The East Zone Mineral
and lower limits of the Mineral Resource. Resources have an E-W strike length of 450m, a vertical extent of 800m and a
plan width of 330m.
· The Main Zone Mineral Resources outcrop and are exposed in shallow
trial pits. The East Zone begins approximately 100m below surface.
Estimation and modelling techniques · The nature and appropriateness of the estimation technique(s) applied · Micromine mining software was used for the geological interpretation,
and key assumptions, including treatment of extreme grade values, domaining, grade interpolation and block model creation and validation.
interpolation parameters and maximum distance of extrapolation from data
points. If a computer assisted estimation method was chosen include a · The dominant sample length was 2m and thus it was decided to composite
description of computer software and parameters used. the drilling assay data to 2m generated from within the mineral wireframes.
This resulted in 7,601 Sn composites the Main Zone and 3,910 composites for
· The availability of check estimates, previous estimates and/or mine the East Zone.
production records and whether the Mineral Resource estimate takes appropriate
account of such data. · Variography indicated moderate grade continuity for the Main Zone
allowing for the generation of an orthogonal 3D variogram model. The
· The assumptions made regarding recovery of by-products. subsequent variogram model was also used for the East Zone with appropriate
axes rotation.
· Estimation of deleterious elements or other non-grade variables of
economic significance (eg sulphur for acid mine drainage characterisation). · Ordinary Kriging was used for the grade interpolation with the mineral
wireframes acting as hard boundaries.
· In the case of block model interpolation, the block size in relation to
the average sample spacing and the search employed. · Data analysis shows that the constrained mineralised populations for
the two lodes have modest coefficients of variation for Sn i.e. 2.61/2.64 (CV
· Any assumptions behind modelling of selective mining units. = standard deviation/mean). This indicates that Ordinary Kriging is an
appropriate estimation technique. It also implies there are no other
· Any assumptions about correlation between variables. populations in the data and the likelihood that any extreme values will have a
limited impact.
· Description of how the geological interpretation was used to control
the resource estimates. · The CVs for Sn for the two domains and the well-structured data meant
that no top cutting was required.
· Discussion of basis for using or not using grade cutting or capping.
· For Sn a sufficient amount and density of data was available to produce
· The process of validation, the checking process used, the comparison of variograms in acceptable quality. Thus, the resulting parameters were used to
model data to drill hole data, and use of reconciliation data if available. interpolate Sn by OK.
· Resource block model was established with a block size of X = 10 m, Y =
5 m, Z = 10 m. No sub-blocking was applied. Block size was based on the data
distribution associated with the detailed underground drive development
results and the likelihood of an underground bulk extraction method
· Grade interpolation was completed in several passes with increasing
sizes of the search ellipsoid, decreasing minimum number of composite samples
coming from a minimum number of octants. Search ellipsoid as the following
orientation: Strike: 270°, Dip direction 0°, Dip: 25° and pitch 90° (all
rotations are left-handed). Passes 1 and 2 (for Indicated Resource) included a
minimum of 12 samples from at least 4 octants used with 15m by 35m by 35m and
30m by 70m by 70m search radii respectively. Passes 3, 4 and 5 (for Inferred
Resource) included a minimum of 6 samples from at least 2 octants used with a
maximum search radii of 54m by 120m by 120m for pass 5.
· Mining One completed a resource estimation in 2012, it used a similar
methodology to the Mineral Resources being reported. However the new estimates
are based on additional drilling (by Saxore) and a more restrictive set of
wireframes. Comparison of the Mineral Resources shows, as expected, a
reduction in tonnes at roughly the same grade with an overall 20% reduction in
contained Sn metal for the same 0.15% Sn cut-off.
· A small amount of mined material has been reported by Mining One but
comparisons of that production with the new resource model were not possible
due to lack of underground development data.
· Other elements including Ag, Cu, WO(3), Bi, Ga, As had less data than
Sn but were modelled as potential by-products. The elements were modelled via
Ordinary Kriging using the same search parameters. However, it should be noted
that there is no correlation between Sn and the other elements. It is assumed
that appropriate processing techniques will allow for the recovery of the
listed metals.
· No waste rock characterisation has been completed.
· Block model validation consisted of visual checks between the Sn block
grades and drillhole assay values, comparison of statistical analysis between
block grades and composites. Results indicated no issues with the geological
interpretation and the grade interpolation.
· The resource block model was cross validated to demonstrate that the
applied methodology to model geology and grade has produced a model which is
representative of primary data from the holes. This was performed with the
internal checking tool of Micromine Origin & Beyond.
· A check model was completed by H&SC using its own bespoke
geological interpretation, variography and search ellipse parameters (via
Ordinary Kriging). The results showed a close match with the reported Mineral
Resources. A second check model was completed treating the mineralisation as
two flat lying zones, the results confirmed a similar overall tonnage and
grade to the new Mineral Resources.
Moisture · Whether the tonnages are estimated on a dry basis or with natural · Tonnages were estimated on a dry weight basis and moisture content has
moisture, and the method of determination of the moisture content. not been determined.
Cut-off parameters · The basis of the adopted cut-off grade(s) or quality parameters · Deutsche Rohstoff AG's completed a 2015 Feasibility Study for the
applied. Gottesberg project (underground extraction). The following assumptions (on a
worst case scenario) were used to define a Sn cut-off grade of 0.25% Sn for
the Gottesberg project:
o CAPEX (184.6 Million USD) and OPEX (49.8 USD/tonne).
o Sn price at USD 40,000/t Sn
o High recovery rate of 80% as per testwork,
o By-products of potential economic value e.g. copper, tungsten, arsenic,
silver, bismuth and gallium not included
· Considering the change in dynamics for the supply and demand for Sn
and the desire for critical minerals, Saxore consider at Sn cut-off grade of
0.15% to appropriate. This is the same cut-off grade used in the Mining One
2012 MRE.
Mining factors or assumptions · Assumptions made regarding possible mining methods, minimum mining · The Mineral Resources were estimated on the assumption that the
dimensions and internal (or, if applicable, external) mining dilution. It is material is to be mined underground using a bulk mining method eg room and
always necessary as part of the process of determining reasonable prospects pillar, sub-level caving.
for eventual economic extraction to consider potential mining methods, but the
assumptions made regarding mining methods and parameters when estimating · The proposed mining method is a conventional drill & blast, with
Mineral Resources may not always be rigorous. Where this is the case, this either a decline or shaft for raising material to surface and placing at
should be reported with an explanation of the basis of the mining assumptions on-site ROM pad with a processing plant adjacent to the planned mining
made. operation.
· Minimum mining dimensions are envisioned to be around 10m by 5m by 10m
(strike, across strike, vertical respectively).
· The resource estimation includes internal mining dilution.
Metallurgical factors or assumptions · The basis for assumptions or predictions regarding metallurgical · Cassiterite is the dominant Sn mineral species.
amenability. It is always necessary as part of the process of determining
reasonable prospects for eventual economic extraction to consider potential · Testwork completed by UVR-FIA, 1982 and ALS Burnie Labs, 2013 have
metallurgical methods, but the assumptions regarding metallurgical treatment shown that cassiterite can be recovered by gravity separation and flotation.
processes and parameters made when reporting Mineral Resources may not always
be rigorous. Where this is the case, this should be reported with an · In 1979, tests were carried out to extract the by-products Cu, S, WO3
explanation of the basis of the metallurgical assumptions made. and Bi. Two composite samples with a total mass of 180 kg were available for
the processing analyses. Results showed recovery rates of up to 87.3% for Cu,
86.2% for S, 25.1% for WO(3) and 55% for Bi.
Environmental factors or assumptions · Assumptions made regarding possible waste and process residue disposal · The deposit lies within hilly, forested country typical of that part of
options. It is always necessary as part of the process of determining Germany.
reasonable prospects for eventual economic extraction to consider the
potential environmental impacts of the mining and processing operation. While · Land use is predominantly forestry with smallholdings. The small
at this stage the determination of potential environmental impacts, village of Gottesberg lies in close proximity to the deposit making an open
particularly for a greenfields project, may not always be well advanced, the pit operation unlikely.
status of early consideration of these potential environmental impacts should
be reported. Where these aspects have not been considered this should be · The area has had previous mining including a series of small open cut
reported with an explanation of the environmental assumptions made. pits and the underground development at Gottesberg.
· There are limited flat areas for waste and tailings disposal.
· There are a small number of creeks in the area with all year-round
flows.
· The host rocks have relatively low sulphur contents limiting the
potential for acid mine drainage.
· To help mitigate any acid mine drainage 21km west of Gottesberg lie
calcitic to dolomitic marble occurs in the area of Oelsnitz/Vogtland and 30 km
east of Gottesberg limestone and marble deposits of Raschau-Markersbach and
Hammerunterwiesenthal occur.
Bulk density · Whether assumed or determined. If assumed, the basis for the · Density data from the GDR era was based on weighing individual pieces
assumptions. If determined, the method used, whether wet or dry, the frequency of core and then measuring the length and diameter of the core in order to
of the measurements, the nature, size and representativeness of the samples. calculate a density. A total of 207 different samples were measured.
· The bulk density for bulk material must have been measured by methods · Sachsenzinn used the weight in air/weight in water technique
that adequately account for void spaces (vugs, porosity, etc), moisture and (Archimedes Principle) on 69 samples to calculate density for individual
differences between rock and alteration zones within the deposit. 10-20cm pieces of whole core.
· Discuss assumptions for bulk density estimates used in the evaluation · Saxore completed repeat check density measurements on the Sachsenzinn
process of the different materials. samples using the weight in air/weight in water technique. The Saxore
measurements showed minimal difference with Sachsenzinn results.
· The density data had a limited range in values for a variety of rock
types such that a default density value could be assumed for the resource
estimation for the deposit. This assumed value was 2.7 t/m³.
· From core inspections there is a very limited amount vugs associated
with the mineralisation.
· The assumed density value is reasonable based on the Competent Person's
experience with similar rock types and style of mineralisation.
Classification · The basis for the classification of the Mineral Resources into varying · The Mineral Resources have been classified using the estimation search
confidence categories. pass parameters subject to assessment of other impacting factors such as
drillhole spacing, variography, core handling and sampling procedures, sample
· Whether appropriate account has been taken of all relevant factors (ie recoveries, QAQC outcomes, density measurements, geological model and previous
relative confidence in tonnage/grade estimations, reliability of input data, resource estimates.
confidence in continuity of geology and metal values, quality, quantity and
distribution of the data). · The Mineral Resources have been classified into Indicated and Inferred
categories based on the results of grade estimation and the progressive
· Whether the result appropriately reflects the Competent Person's view relaxing of the estimation data searches, plus consideration of the lack of
of the deposit. geological, density and QAQC data and documentation for the sampling and
sub-sampling.
· Indicated estimates are those where a minimum of 12 data from at least
4 octants has been used with a 30m by 70m by 70m search radii. Indicated
estimates included passes 1 and 2. Inferred estimates are those where a
minimum of 6 data from at least 2 octants has been used with a search radii of
54m by 120m by 120m. Inferred estimates included passes 3, 4 and 5.
· Positive impacts on the classification include the use of diamond
drilling for the sampling with high recoveries, an area of detailed
underground sampling (close spaced data), a well understood geological model,
reasonable QAQC outcomes and good detail from the geological logging.
· Negative impacts on the classification include the wide spaced drilling
and the use of vertical holes in relation to the geometry of the
mineralisation, the use of Sn grade shells to define mineralisation and a lack
of detailed geological definition, the poddy nature of the mineralisation, a
lack of documentation and data for both the sampling methods and the QAQC
data.
· Due to a lack of data for the by-product elements an Exploration Target
has been designed for these elements to match the extent of the Sn
mineralisation.
· The classification of the Mineral Resources appropriately reflects the
Competent Person's view of the deposit.
Audits or reviews · The results of any audits or reviews of Mineral Resource estimates. · No audits of the Mineral Resource estimates have been completed.
· H&SC completed a check model using bespoke wireframes, variography
and search parameters which produced comparable results to the Saxore resource
estimates.
· The resource estimates are comparable to the Mining One 2012 resource
estimates.
Discussion of relative accuracy/ confidence · Where appropriate a statement of the relative accuracy and confidence · No statistical or geostatistical procedures were used to quantify the
level in the Mineral Resource estimate using an approach or procedure deemed relative accuracy of the resource. The global Mineral Resource estimates of
appropriate by the Competent Person. For example, the application of the Gottesberg Sn deposit are moderately sensitive to higher cut-off grades
statistical or geostatistical procedures to quantify the relative accuracy of but does not vary significantly at lower cut-offs.
the resource within stated confidence limits, or, if such an approach is not
deemed appropriate, a qualitative discussion of the factors that could affect · The relative accuracy and confidence level in the Mineral Resource
the relative accuracy and confidence of the estimate. estimates are considered to be in line with the generally accepted accuracy
and confidence of the nominated Mineral Resource categories. This has been
· The statement should specify whether it relates to global or local determined on a qualitative, rather than quantitative, basis, and is based on
estimates, and, if local, state the relevant tonnages, which should be the Competent Person's experience with similar deposits and geology.
relevant to technical and economic evaluation. Documentation should include
assumptions made and the procedures used. · The Mineral Resource estimates are considered to be accurate globally,
but there is some uncertainty in the local estimates due to the current
· These statements of relative accuracy and confidence of the estimate drillhole spacing, a lack of geological definition in certain places eg fault
should be compared with production data, where available. zones, greisen alteration patterns and penetration depths of surface
weathering,
· Very little mining of the deposit (120,000 tonnes) has taken place, and
whilst production data is available it is not in an appropriate format for
comparison with the resource estimates.
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