REG - First Tin PLC - Taronga Mineral Processing Update

First TinAnnouncement

25/04/2024 07:00

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RNS Number : 9238L  First Tin PLC  25 April 2024

 

25 April 2024

First Tin Plc

("First Tin" or "the Company")

Taronga Mineral Processing Update

 

Updated mineral processing testwork has shown significantly improved
recoveries

 

 

First Tin PLC, a tin development company with advanced, low capex projects in
Australia and Germany, is pleased to announce that ongoing mineral processing
testwork for the Definitive Feasibility Study ("DFS") at its Taronga Tin
Project ("Taronga") in Australia continues to show improved recoveries.

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

Results of the crushing testwork for the LG sample (0.10% Sn head grade) have
shown that:

 

·    Conventional crushing recovers 72.5% of tin into 46.5% of mass
grading 0.16% Sn in the minus 2.8mm fraction.

·    Single pass vertical shaft impact (VSI) crushing of the plus 2.8mm
fraction from the above conventional crushing, recovers an additional 11.7% of
tin into 11.0% of the initial mass, grading 0.08% Sn, to the minus 2.8mm
fraction.

·     By combining the two minus 2.8mm fractions, a total of 84.2% of
the initial tin is recovered to 57.5% of the initial mass with a grade
increase from 0.10% Sn to 0.15% Sn. This is an improvement from the 82%
recovery previously reported on 18 September 2023 for the HG sample (0.18%
Sn).

The gravity concentration result for the bulk LG sample previously reported on
7 March 2024 was 71.5%.

 

By combining the crushing and gravity concentration results, a total recovery
can be calculated for the LG sample as:

 

·
Crushing:
                        84.2% recovery

·      Gravity concentration:
                                    71.5%
recovery

·      Combined:
                                    60.2%
recovery

This confirms recoveries are still good at head grades below the average grade
being mined and therefore increases confidence in overall recoveries for the
project.

 

Given these results, a second HG bulk sample has been collected (HG2, head
grade 0.15% Sn) to be tested using the refined testwork flowsheet used for the
LG sample. This includes classification prior to spiral concentration and
improved locked cycle crushing and tabling.

 

The crushing testwork of this sample has provided the following results to the
minus 2.8mm fractions:

 

·      Conventional crush:       66.8% of tin in 23.2% of mass
grading 0.42% Sn

·      1(st) Pass VSI:                 24.3% of tin in
20.9% of mass grading 0.17% Sn

 

Combining conventional and 1(st) pass VSI crushing results gives:

 

·      91.2% recovery of tin in 44.1% of mass grading 0.30% Sn

These are excellent results, significantly better than the 82% reported for
the original HG sample and the 84.2% reported for the LG sample.

 

If gravity concentration recoveries can be shown to be similar to those
obtained for the LG samples (i.e., 71.5%), then total recovery at a head grade
of 0.15% Sn should be around 65-66%.  This work will be reported as it is
received.

 

First Tin's CEO, Bill Scotting, comments: "These excellent results build on
our existing knowledge of the mineral processing characteristics of the
Taronga tin deposit gained from work undertaken over the last 40 years.
Achieving a 60% overall recovery rate for the LG material closely aligns with
the data obtained by Newmont, substantially de-risking the project by
demonstrating that recoveries are good for this below average grade material.
If the gravity results from the second high grade sample are shown to be
similar to those obtained for the LG sample, the overall recovery for the
deposit will be significantly better, positively bolstering the project's
economics. We look forward to the upcoming results."

 

 

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

 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, 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.

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