REG - First Tin PLC - Taronga Mines Exploration Strategy Update
14/01/2025 07:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250114:nRSN1611Ta&default-theme=true
RNS Number : 1611T First Tin PLC 14 January 2025
14 January 2025
First Tin PLC
("First Tin" or "the Company")
Taronga Mines Exploration Strategy 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,
Taronga Mines Pty Ltd ("TMPL"), has completed a review of exploration
potential within its large tenement holdings around its Taronga Tin Project
("Taronga") in Australia.
The review has highlighted the excellent project pipeline available to the
Company in the Taronga district and confirmed the possibility of a
hub-and-spoke concept with the proposed Taronga processing facility being the
hub of a district scale mining centre.
First Tin CEO, Bill Scotting commented:
"While bringing our Taronga project into production remains our highest
priority over the short term, the recent exploration review has shown a large
pipeline of nearby projects within this exceptional tin district that we
intend to progress in parallel, to sustainably meet the forecast medium-term
growth in tin demand. The likelihood of being able to utilise the proposed
processing facility at Taronga as a central processing facility or "hub" for
processing moderate to high grade mineralisation either trucked directly or as
a pre-concentrate, using a mobile crushing and jigging facility, has been
significantly enhanced based on the results of this review."
The following target matrix has been compiled by the TMPL technical team:
Resource Drilling Exploration Drilling Soil / Rock Anomaly Stream Anomaly Conceptual Target
Priority 1 Taronga Near Pit Taronga SW
Pound Flat
Great Britain / Tin Beetle
Priority 2 McDonalds Taronga NE Binghi (Long Spur)
Rossmoine Taronga South Tingha
Wells South
Gap Ridge South
Battery Mtn
Stannum
Bens Falls
Priority 3 Griffiths Lode Taronga Far SW Beardy Gorge Westminster Mtn
Says Lode Wells Far South Back Ck Western Colluvials
McMasters / Tent Hill Beardy Cliffs Catarrh Ck Dutchmans etc
Tip Mtn / Kathida
Priority 4 Butlers Emmaville West Arvid Ford Hill Tin Beetle North
Leave Me Deep Leads Duck Ck
Emerald
Poverty Point
Poverty East
Tin Beetle NW
Priority 5 Wells Lode Wells Extended Taronga NW Romneys
Big Plant Ck Wangalea
Hell Hole Ck
Rummerys Hill
This matrix was compiled by undertaking a detailed examination of all previous
exploration data and then ranking the targets based on prospectivity, stage of
exploration and accessibility. This clearly shows a large pipeline of targets
ranging from geological conceptual targets through to exploration target /
resource drilling.
All of these targets are within 30km of the proposed Taronga processing
facility, with the majority within 15km (Figure 1).
A summary of the Priority 1 and more advanced Priority 2 targets is provided
below:
Taronga Near Pit
These targets are immediately adjacent to known mineralisation and will be
drill tested during 2025 with the aim of increasing the Taronga resource
base. Details were provided in a previous RNS dated 17(th) December 2024.
Pound Flat
Some drilling was undertaken during the late 1970s and early 1980s by Newmont
and Billiton. Intercepts very similar to those seen at Taronga itself include:
· 109.5m @ 0.13% Sn from 13.5m incl. 41.5m @ 0.15% Sn from 13.5m
· 50m @ 0.18% Sn from surface
· 50m @ 0.13% Sn from surface
Recent work by TMPL has been restricted to soil sampling and this shows that
there are several areas untested by the previous drilling.
This is a walk-up drill target with excellent potential for satellite feed at
a similar grade to Taronga. It is envisaged that mineralisation could be
pre-concentrated on site via a portable crushing and jigging plant, with
upgraded mineralisation trucked to Taronga for gravity processing.
Great Britain / Tin Beetle
This area was the centre of previous mining activity in the Emmaville
district, with over 20,000t of historical production of tin concentrates.
Mining originally focussed on alluvial and palaeo-alluvial (deep lead)
deposits and subsequently progressed to eluvial and weathered bedrock
deposits.
Previous broad spaced drilling by Base Minerals, Loloma, EZ and Anglo American
during the 1970s and 1980s identified several greater than 200m long zones
with plus 0.1% Sn mineralisation. Better intercepts included:
· 47.5m @ 0.38% Sn from surface
· 15.2m @ 0.15% Sn from surface
· 74m @ 0.10% Sn from surface incl. 38m @ 0.13% Sn from 1m
· 49m @ 0.12% Sn from surface
TMPL also drilled several broad spaced holes during 2023, designed to confirm
the concept of Taronga style mineralisation being present. This returned
intercepts of:
· 48m @ 0.18% Sn from 2m
· 30m @ 0.10% Sn from surface
· 12m @ 0.13% Sn from 48m
· 14m @ 0.12% Sn from 77m
Potential can be seen for at least four separate zones of mineralisation that
could become satellite deposits to Taronga using a similar concept to that
noted at Pound Flat.
McDonalds
This area was mined for both alluvial, eluvial and hard-rock tin in the past
but production records are sketchy.
The area is defined by high order stream sediment anomalies (590ppm Sn to
1350ppm Sn), significant tin in soil anomalies (two plus 1000ppm Sn zones over
700m and 800m strike length) and associated geophysical (IP) anomalies.
Limited broad spaced drilling has returned significant mineralisation
including:
· 14m @ 0.39% Sn from 47m incl. 4m @ 0.64% Sn from 47m (still
mineralised at the end of the hole)
· 22m @ 0.10% Sn from 22m incl. 5m @ 0.18% Sn from 22m
· 22m @ 0.19% Sn from surface incl. 5m @ 0.58% Sn from 11m
· 1m @ 0.86% Sn from 52m
This drilling has not tested the best combined soil and IP anomalies, and
potential for moderate to high grade mineralisation that may be directly
trucked to Taronga can be seen.
Rossmoine
This area includes the historical Taylors and Dalcoath lodes and a very large
area of previous alluvial tin mining. Production records are sketchy but the
large area of worked alluvium suggests considerable production.
This is an interesting area as it is centred on a granitic dyke that has been
extensively and intensively altered to greisen, a common host for tin
mineralisation.
No significant modern exploration has been undertaken apart from a small open
hole percussion drilling programme under the main lodes by AOG in the late
1960s that returned the following intercepts:
· 9.1m @ 0.28% Sn from 3m
· 13.7m @ 0.35% Sn from 10m
· 4.6m @ 0.40% Sn from 6m
· 4.6m @ 1.74% WO(3) from 24m (note this is high grade tungsten
mineralisation)
Large areas with sheeted quartz-greisen veins with visible cassiterite have
been mapped and these have not had any systematic exploration at all.
This is a high priority target with potential for moderate grade tin
mineralisation that may be amenable to trucking to Taronga, either directly or
via a mobile crushing and jigging circuit as conceptually noted at the above
targets.
Taronga SW & Taronga Far SW
The southwestern trend of the Taronga mineralisation has highly anomalous
stream sediment samples (up to 2010ppm Sn) and some tin in soil anomalism
(>1,000ppm Sn) in the few areas where this method has been utilised.
This trend can be traced over a total strike length of around 3.8km.
It is proposed to cover the trend with systematic soil sampling to define
future drill targets.
Other Targets
Numerous other targets exist as shown in the target matrix, but many of these
have only had perfunctory exploration to date.
Ongoing work by TMPL will consist of geological mapping and data compilation,
systematic soil sampling and possibly geophysical surveying followed by
drilling as required.
Figure 1: Taronga District Regional Targets
Competent Person Statement
Information in this announcement that relates to exploration results, data
quality and geological interpretations is based on information compiled by Mr
Antony Truelove. Mr Truelove is a Member of the Australian Institute of
Geoscientists (AIG) and the Australasian Institute of Mining and Metallurgy
(AusIMM). Mr Truelove has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration, and to the activities
undertaken, to qualify as a Competent Person as defined in the 2012 Edition of
the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves. Mr Truelove is Chief
Operating Officer of First Tin Plc and consents to the inclusion in this
announcement of the matters based on this information in the form and context
in which it appears.
Enquiries:
Via SEC Newgate below
Bill Scotting - Chief Executive Officer
Arlington Group Asset Management Limited (Financial Advisor and Joint Broker)
Simon Catt 020 7389 5016
Zeus Capital Limited (Joint Broker)
Harry Ansell / Dan Bristowe / Katy Mitchell 020 3829 5000
SEC Newgate (Financial Communications)
Elisabeth Cowell / Molly Gretton 07900 248 213
Notes to Editors
First Tin PLC is an ethical, reliable, and sustainable tin production company
led by a team of renowned tin specialists. The Company is focused on becoming
a tin supplier in conflict-free, low political risk jurisdictions through the
rapid development of high value, low capex tin assets in Germany and
Australia, which have been de-risked significantly, with extensive work
undertaken to date.
Tin is a critical metal, vital in any plan to decarbonise and electrify the
world, yet Europe has very little supply. Rising demand, together with
shortages, is expected to lead tin to experience sustained deficit markets for
the foreseeable future.
First Tin's goal is to use best-in-class environmental standards to bring two
tin mines into production in three years, providing provenance of supply to
support the current global clean energy and technological revolutions.
JORC Code, 2012 Edition - Table 1 Taronga Tin Project (TMPL)
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · Stream Sediment Sampling was undertaken by various companies in the
specific specialised industry standard measurement tools appropriate to the late 1970s and early 1980s. Details are unknown and hence results should be
minerals under investigation, such as down hole gamma sondes, or handheld XRF treated with caution.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. · Rock Chip samples were collected and analysed by various companies
in the late 1970s and early 1980s. Details are unknown and hence results
· Include reference to measures taken to ensure sample representivity should be treated with caution.
and the appropriate calibration of any measurement tools or systems used.
· Rock chip samples collected by TMPL are selected grab samples from
· Aspects of the determination of mineralisation that are Material to old dumps, tailings and areas of visible mineralisation, They are not
the Public Report. necessarily indicative of the average grade of mineralisation.
· In cases where 'industry standard' work has been done this would be · Soil samples were collected and analysed by various companies in
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m the late 1970s and early 1980s. Details are unknown and hence results should
samples from which 3 kg was pulverised to produce a 30 g charge for fire be treated with caution.
assay'). In other cases more explanation may be required, such as where there
is coarse gold that has inherent sampling problems. Unusual commodities or · Soil sampling undertaken by TMPL consists of grid based sampling at
mineralisation types (eg submarine nodules) may warrant disclosure of detailed various spacings as shown on the associated diagrams, generally at around
information. 200m x 50m spacing, Samples are collected from the C horizon, as close as
possible to the weathered rock interface. This is generally around 20-30cm
deep in the Emmaville district except in areas of thick alluvium.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · Drilling was conducted by various companies in the late 1970s and
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or early 1980s and was often open hole percussion. Details are generally not
standard tube, depth of diamond tails, face-sampling bit or other type, provided in the old reports and hence results should be treated with caution.
whether core is oriented and if so, by what method, etc).
· Drilling by Aus Tin in 2014 is reverse circulation face sampling 5
inch hammer (RC) drilling.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · Drilling was conducted by various companies in the late 1970s and
results assessed. early 1980s and was often open hole percussion. Drilling by Aus Tin in 2014
was by RC. Details are generally not provided in the old reports and hence
· Measures taken to maximise sample recovery and ensure representative results should be treated with caution.
nature of the samples.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging · Whether core and chip samples have been geologically and · As above
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies.
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography.
· The total length and percentage of the relevant intersections logged.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · N/A
taken.
· If non-core, whether riffled, tube sampled, rotary split, etc and
whether sampled wet or dry.
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples.
· Measures taken to ensure that the sampling is representative of the
in situ material collected, including for instance results for field
duplicate/second-half sampling.
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Unknown, for historical data.
laboratory procedures used and whether the technique is considered partial or
total. · TMPL assaying is undertaken at ALS Laboratories in Brisbane as
follows:
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and o Sn assays are performed on a 0.1g sub-sample of the pulverised and mixed
model, reading times, calibrations factors applied and their derivation, etc. material, which is taken and fused with lithium borate. The fused bead is then
analysed by a mass spectrometer using method ME-MS85 which reports Sn, W, Ta
· Nature of quality control procedures adopted (eg standards, blanks, and Nb. This returns a total tin content, including tin as cassiterite. Over
duplicates, external laboratory checks) and whether acceptable levels of limit assays of tin are re-analysed using method ME-XRF15b which involves
accuracy (ie lack of bias) and precision have been established. fusion with lithium metaborate with a lithium tetraborate flux containing 20%
NaNO3 with an XRF finish.
o Other elements are analysed by method ME-ICP61 using a 0.25g sub-sample.
This involves a 4 acid digest with an ICP-AES finish. This is an industry
standard technique for a suite of 34 elements, including copper, arsenic,
sulphur and silver.
o Prior to dispatch of samples, the following QAQC samples were added:
§ 3 Certified Reference Materials, representative of the expected grades are
inserted into the sample suite at the rate of 1 in 40 samples.
§ Coarse Blanks are inserted at the rate of around 1 in 40 samples.
§ If results for the CRMs indicate a >5% assay error, the sample is
compared with other CRMs in the same batch. If other CRMs indicate similar
errors the lab is contacted to review.
o All TMPL data is considered to be of acceptable quality.
Verification of sampling and assaying · The verification of significant intersections by either independent · None undertaken.
or alternative company personnel.
· The use of twinned holes.
· Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols.
· Discuss any adjustment to assay data.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · Most data is publicly available data from GSNSW and old company
and down-hole surveys), trenches, mine workings and other locations used in reports.
Mineral Resource estimation.
· Data is shown in GDA94 coordinate system, Zone 56.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · N/A
· Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications applied.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · N/A
possible structures and the extent to which this is known, considering the
deposit type.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
Sample security · The measures taken to ensure sample security. · N/A
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · N/A
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · The project is secured by six granted tenements: EL7800, EL7801,
agreements or material issues with third parties such as joint ventures, EL8335, EL8407, EL9200 and ML 1774, all of which are currently in good
partnerships, overriding royalties, native title interests, historical sites, standing. These are held 100% by TMPL.
wilderness or national park and environmental settings.
· Three applications are currently active: ELA6814, ELA6836 and MLA624.
· The security of the tenure held at the time of reporting along with
any known impediments to obtaining a licence to operate in the area. · The only royalty is the state of NSW royalty of 4% on tin mined.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Exploration was undertaken by various parties, mainly between 1979
and 1984. This data has been used compiled and used where applicable.
· This work was generally to a reasonable standard for the time but is
old and should be used with caution.
· The work undertaken by Aus Tin in 2014 appears to be of reasonable
industry standard but as no current personnel were involved, this is also used
with caution.
Geology · Deposit type, geological setting and style of mineralisation. · The Taronga tin deposit is a sheeted vein style +/- copper-silver
with horizontally and vertically extensive veins of
quartz-mica-cassiterite-sulphide +/-fluorite-topaz occurring over a combined
area of up to 2,700m by 270m.
· The veins vary in thickness from less than 0.5mm to 100mm but are
generally between 1mm and 10mm thick and average about 20 veins per metre.
· The host rock is hornfels derived by contact metamorphism of Permian
aged metasediments by Triassic-aged granites.
· The source of mineralising fluids is interpreted to be an underlying
intrusion of the Triassic Mole Leucogranite, a reduced, highly fractionated, A
to I type granite. The metals of interest (Sn, Cu, Ag) are interpreted to have
been enriched in the late magmatic fluid of this granite via enrichment of
incompatible elements during fractional crystallisation. Breaching of the
magma chamber during brittle faulting in an ENE orientation, a structural
corridor, has tapped these enriched fluids which have subsequently deposited
the metals due to changing temperature and pressure conditions and/or mixing
with meteoric fluids.
· Other styles of mineralisation in the district includes lode style
hard-rock tin veins between 10cm and 10m wide within the granite, alluvial
placer style tin and palaeo-alluvial deep lead style tin.
Drill hole Information · A summary of all information material to the understanding of the · N/A
exploration results including a tabulation of the following information for
all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in metres) of the
drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
· If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · N/A
maximum and/or minimum grade truncations (eg cutting of high grades) and
cut-off grades are usually Material and should be stated.
· Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · N/A
Exploration Results.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported.
· If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (eg 'down hole length, true width
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Summary plan attached.
intercepts should be included for any significant discovery being reported
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · All available data has been compiled and assessed but is generally
practicable, representative reporting of both low and high grades and/or old (1970s and 1980s) and needs to be treated with caution.
widths should be practiced to avoid misleading reporting of Exploration
Results. · Work by Aus Tin appears to be of reasonable standard but as no
current personnel were involved, this data is treated with caution.
· Work by TMPL is of good quality and can be relied upon.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · N/A
reported including (but not limited to): geological observations; geophysical
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work · The nature and scale of planned further work (eg tests for lateral · Proposed follow up will consist of geological mapping, stream
extensions or depth extensions or large-scale step-out drilling). sediment and soil sampling, and drilling if warranted.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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 UPDFLFVTLLIVLIERecent news on First Tin
See all newsREG - First Tin PLC - Auersberg & Gottesberg Project Exploration Update
AnnouncementREG - First Tin PLC - Holding(s) in Company
AnnouncementREG - First Tin PLC - Director/PDMR dealing
AnnouncementREG - First Tin PLC - Director/PDMR dealing
AnnouncementREG - First Tin PLC - Director/PDMR dealing
Announcement