REG - First Tin PLC - Results of Crushing Testwork

First TinAnnouncement

11/09/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230911:nRSK9323La&default-theme=true

RNS Number : 9323L  First Tin PLC  11 September 2023

 

11 September 2023

First Tin Plc

("First Tin" or "the Company")

Crushing Testwork Confirms Significant Upgrading Effect for Both High-grade
and Low-grade Mineralisation at Taronga Tin Project

 

 

First Tin PLC ("First Tin"), a tin development company with advanced, low
capex projects in Germany and Australia, is pleased to report that results of
the crushing pre-concentration testwork on bulk samples from its Australian
Taronga project from an adit through the North Pit mineralisation have now
been received and assessed.

 

The results confirm First Tin's hypothesis that due to the selective breakage
along veins (Figures 1 to 4), liberation of cassiterite can be achieved simply
by coarse crushing to 12mm and screening at 2.8mm.  The plus 2.8mm fraction
is a discard while the minus 2.8mm fraction goes through the processing plant,
thus the mass going through the plant is significantly decreased and the tin
grade significantly increased.

 

Two samples have now been tested, one grading 0.18% Sn (high grade) and the
other grading 0.10% Sn (low grade).

 

Results are:

 

·      High-grade sample (0.18% Sn)

o  Sub 2.8mm size fraction contains 85% of the tin in 54% of the mass

o  This fraction has been upgraded from 0.18% Sn to 0.30%Sn

o  Plus 2.8mm size fraction contains 15% of the tin in 46% of the mass

·      Low-grade sample (0.10% Sn)

o  Sub 2.8mm size fraction contains 84% of the tin in 58% of the mass

o  This fraction has been upgraded from 0.10% Sn to 0.15% Sn

o  Plus 2.8mm size fraction contains 16% of the tin in 43% of the mass

The samples were initially jaw crushed on site to around 45mm and were
subsequently re-crushed in the ALS Metallurgy laboratory in Perth to 12mm
using a simulated conventional three-stage crushing circuit.

 

This crushed sample was screened at 2.8mm with the oversize and then put
through a single pass vertical impact crusher (VSI) to scavenge any tin
(cassiterite) not already liberated.  This product was again screened at
2.8mm and the minus 2.8mm fraction re-combined with the minus 2.8mm fraction
from the conventional crushing.  The plus 2.8mm material is considered as
waste and is sent directly to a waste rock emplacement facility.

 

The results confirm the premise that the cassiterite (SnO(2) - tin ore
mineral) is easily liberated at a coarse crush size. The grade of material is
increased by 50-67% and the mass is reduced to 54-58% of the original mass,
making the rest of the processing facility smaller than would otherwise be
required and the starting grade higher.

 

After the crush stage, the remainder of the plant involves simple gravity
separation.  Gravity separation testwork on the -2.8mm product of the
crushing is currently underway and overall results will be announced shortly.

 

The first stage of the gravity separation involves screening at 0.4mm with the
oversize (60%) going to jigs and the undersize (40%) to spirals.

 

Results for jigging of the high-grade sample show that 27% of the total mined
ore can be rejected, with the accepts being upgraded to a 1.21% Sn
concentrate.

 

Results for rougher spiral separation of the high-grade sample show that 20%
of the total mined ore can be separated to a middling product grading 0.17% Sn
for further treatment, with the accepts being upgraded to a 4.57% Sn
concentrate.

 

Putting this data together from the crush, jig and spiral testwork from the
0.18% sample then, prior to any grinding or additional gravity separation
testwork:

 

·      73% of the mass containing 21% of the tin can be rejected

·      7% of the mass containing 64% of the tin can be concentrated to a
product grading 1.94% Sn (pre-concentrate)

·      20% of the mass containing 15% of the tin grading 0.17% Sn
reports to a middling product requiring further processing via grinding and
gravity concentration to produce a pre-concentrate

·      In total, 79% of the tin in 27% of the mass grading 0.63% Sn is
available for further processing

This simple front end and low-cost beneficiation process is unique to the
Taronga asset and means that the capital and operating costs of any
processing plant will be relatively low for the size of operation under
consideration.

 

 

First Tin CEO Thomas Buenger said: "We are very pleased that we have now
confirmed our previous hypothesis that the mineralisation at Taronga can be
simply and cheaply upgraded at a very early stage in the processing circuit
using a simple coarse crushing and screening technique followed by simple jigs
and spirals.  It is particularly encouraging that even toward the lower end
of the grades we are likely to mine, this large upgrading effect still works
at the coarse crushing stage.

 

To be able to significantly increase the grade of material after simple
crushing, jigging and rougher spirals from 0.18% to 0.63% is a major milestone
in turning the Taronga deposit into a viable mining proposition, as is the
significant reduction in tonnage which will mean lower opex and capex."

 

The project is owned by First Tin's 100% owned Australian subsidiary, Taronga
Mines Pty Ltd ("TMPL").

 

 

Figure 1: Quartz-Cassiterite Veins in Outcrop

 

Figure 2: Quartz-Cassiterite Vein Showing Breakage Along Vein, Exposing
Cassiterite

Figure 3:  Coarse Cassiterite on Vein Surface Showing Easy Liberation

 

Figure 4:  Coarse Cassiterite in Vein in Drill Core

 

 

 

Enquiries:

 

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

 Simon Catt                                                                     020 7389 5016

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

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

 

Notes to Editors

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

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

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DRLURAKRONUKARR