REG - First Tin PLC - Tin Beetle Discovery at Taronga Tin Project
28/06/2023 07:00
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RNS Number : 1119E First Tin PLC 28 June 2023
28 June 2023
First Tin Plc
("First Tin" or "the Company")
Tin Beetle tin discovery confirms hub and spoke potential 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 confirm validation of
its "Tin District" thesis in the Taronga district, with the first drill hole
from its Tin Beetle prospect returning 7 metres @ 0.629% Sn within a broader
intersection of 48 metres @ 0.183% Sn from 2 metres depth.
Tin Beetle is 9km from First Tin's Taronga tin deposit, containing the fifth
largest tin reserves globally (ITA ranking) of 23.2 million tonnes at 0.16%
Sn.
Thomas Buenger, First Tin PLC CEO commented: "We are excited that our
Australian team have, with the first drill hole, proven our thesis that
Taronga is part of a tin district rather than a singular occurrence. Tin
Beetle, like Taronga, appears to benefit from extremely favourable
oxide-cassiterite metallurgy that starts at surface and could therefore
potentially be mined as an open pit. We look forward to further results from
the Tin Beetle drill programme, one of six regional targets within trucking
distance of Taronga."
The project is owned by First Tin's 100% owned Australian subsidiary, Taronga
Mines Pty Ltd ("TMPL").
Highlights
· Initial assay results confirm wide intervals of tin
mineralisation with narrower zones of high grade mineralisation
· Significant intercepts include:
o 48m @ 0.183% Sn from 2m incl. 21m @ 0.322% Sn from 2m and 3m @ 0.281% Sn
from 42m
o 5m @ 0.183% Sn from 64m
o 3m @ 0.116% Sn from 102m
· Higher grade interval within main intercept includes 7m @ 0.629%
Sn
· Lower copper and silver content, and higher zinc content than
Taronga mineralisation
· Second hole oriented 180° from initial hole has shown good
logged/panned cassiterite (tin oxide). Assay results are awaited
· The Tin Beetle prospect is located approximately 8-9km southeast
of the Taronga mineralisation, providing strong potential for it to be taken
by road to a central milling facility at Taronga following on-site upgrading
by crushing and jigging
· If successful, this concept could add to annual tin production
and increase the overall mine life
All results are presented in Table 1. The true width of intervals is around
half the downhole width. Estimated true widths are included in Table 1.
The drilling is targeting a broad area (3km x 0.6km) of mineralisation that
had been mined for alluvial and eluvial tin during the 19(th) and 20(th)
Centuries. It is defined by large workings that have stripped the alluvial
material and then continued into weathered, clayey felsic volcanics with
sheeted greisen veins hosting cassiterite (tin oxide) mineralisation. Four
East-North-East trending zones of sheeted veining are interpreted from the
outlines of workings, tin geochemistry, mapped areas of veining and limited
previous drilling (Figure 2).
This is the first TMPL drilling into the prospect and confirms and extends at
depth, mineralisation identified by previous explorers in the late 1970s and
early 1980s. Mineralisation intersected is wider and higher grade than the
mineralisation intersected by the previous explorers, and the Company
anticipates that this will lead to significant additional mineralisation in
this large area.
The location of the drillhole is shown on Figure 2. This figure also shows
that there are potentially multiple zones of mineralisation, and several of
these will be tested during the current programme - drill collars are shown on
Figure 2. Figure 3 illustrates the current interpretation of mineralisation
at the prospect. The northern extent will be tested by a second hole drilled
at 180° to the first hole. Based on initial logging of this hole, the Company
believes that there is potential for a plus 50m wide zone of mineralisation
and approximately 300m of strike will be tested as part of the current
programme.
TMPL considers this target as being one of several potential satellite
deposits for Taronga, with treatment via preconcentration using simple
crushing and jigging and then trucking the concentrate approximately 8-9km to
Taronga for final processing (Figure 1). If successful, this concept could
either add to annual tin production, or increase the overall mine life after
Taronga mineralisation has been exhausted, or both.
Hole No. *Easting (GDA94 Z56) *Northing (GDA94 Z56) *Elevation (m) *Dip (°) *Azimuth (° True) Total Depth (m) From (m) To (m) Interval (m) Estimated True Width (m) Grade (% Sn)
TMGBRC001 366450 6742625 928 -60 180 31.0 2 50 48 24 0.183
incl. 2 23 21 10.5 0.322
incl. 11 18 7 3.5 0.629
and 42 50 8 4 0.147
64 69 5 2.5 0.183
102 105 3 1.5 0.116
TMGBRC002 366450 6742625 928 -60 360 139 awaited
TMGBRC003 366583 6742648 939 -60 180 30 awaited
TMGBRC004 366331 6742603 928 -60 180 109 awaited
TMGBRC005 366000 6742325 927 -60 180 111 awaited
TMGBRC006 366000 6742250 924 -60 180 137 awaited
TMGBRC007 367242 6742848 951 -60 180 90 awaited
TMGBRC008 367242 6742848 951 -60 360 90 awaited
TMGBRC009 365100 6742475 898 -60 180 126 awaited
TMGBRC010 365100 6742475 898 -60 360 TBD TBD
TMGBRC011 365100 6742325 899 -60 180 TBD TBD
TMGBRC012 365100 6742250 899 -60 180 TBD TBD
Table 1: Results of TMPL Tin Beetle RC Drilling (* = Estimated, Survey Yet to
be Undertaken; TBD = To be drilled; awaited = samples despatched, assays
awaited)
Figure 1: Tin Beetle Prospect Location Plan
Figure 2: Tin Beetle Summary Plan
Figure 3: Tin Beetle Hole 1 Cross Section
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.
APPENDIX 1
JORC Code, 2012 Edition - Table 1 Tin Beetle Tin Project (TMPL)
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · Reverse Circulation (RC) drilling was used to obtain 1m samples
specific specialised industry standard measurement tools appropriate to the from a 4.5 inch diameter drill hole. Drilled material was split with an
minerals under investigation, such as down hole gamma sondes, or handheld XRF onboard riffle splitter connected to the cyclone to obtain an approximately
instruments, etc). These examples should not be taken as limiting the broad 3-5kg representative sub-sample that was bagged and sent to the laboratory for
meaning of sampling. assay. This is industry standard work.
· Include reference to measures taken to ensure sample representivity · All RC samples were sent for assay after being logged by the
and the appropriate calibration of any measurement tools or systems used. geologist.
· Aspects of the determination of mineralisation that are Material to · The RC samples were sent to ALS Laboratories in Zillmere QLD.
the Public Report.
· Samples were crushed to sub 6mm, split and pulverised to sub 75µm
· In cases where 'industry standard' work has been done this would be in order to produce a representative sub-sample for analysis.
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for fire · Analysis of the diamond drill and RC samples consisted of a
assay'). In other cases more explanation may be required, such as where there four-acid digest and Inductively Coupled Plasma Optical Emission Spectrometry
is coarse gold that has inherent sampling problems. Unusual commodities or (ICP-OES) for the following elements: Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr,
mineralisation types (eg submarine nodules) may warrant disclosure of detailed Cu, Fe, Ga, K, La, Li, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sn, Sr, Th, Ti,
information. Tl, U, V, W & Zn. The samples were also assayed for Nb, Sn, Ta, and W
using a lithium borate fusion and ICP-MS technique. If over detection on the
ICP was reached, then the samples were assayed using XRF. Standards and blanks
were inserted at a rate of 10%.
· All drilling samples were analysed and hence no prior determination
of mineralisation was made.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary Percussion drilling was undertaken by contractors Schonknecht Drilling, using
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or a face sampling 4.5 inch "Black Diamond" hammer, 137mm PED (polycarbonate
standard tube, depth of diamond tails, face-sampling bit or other type, diamond) bit and a 4.5 inch, 6m stainless steel rod. A tight shroud (3mm
whether core is oriented and if so, by what method, etc). gap) ensured the holes remained as straight as possible. A 350psi, 900cfm
compressor was used to keep holes dry and ensure all heavy minerals such as
cassiterite are recovered.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · All RC samples are weighed. This gives a good idea as to recovery
results assessed. for the 1m intervals sampled as the density does not vary significantly.
Recovery is estimated to be very good in general. A high pressure and volume
· Measures taken to maximise sample recovery and ensure representative compressor is used to endure good sample return and to keep holes dry. No
nature of the samples. significant water was encountered meaning sample quality is good. The hole
is cleaned out with compressed air after every rod change and no significant
· Whether a relationship exists between sample recovery and grade and volume of material is returned via this process.
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material. · No relationship can be seen between recovery and grade. No sample
bias is noted.
Logging · Whether core and chip samples have been geologically and · All RC cuttings have been geologically logged to a level of detail to
geotechnically logged to a level of detail to support appropriate Mineral support appropriate mineral estimation, mining, and metallurgical studies.
Resource estimation, mining studies and metallurgical studies.
· All RC logging is semi-quantitative in nature, following a strict set
· Whether logging is qualitative or quantitative in nature. Core (or of guidelines, with percentage estimates made. Representative sub-samples
costean, channel, etc) photography. are collected, sieved and generally panned to estimate heavy mineral
content. A sub-set of rock chips are kept in chip-trays for reference.
· 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 · All RC cuttings are weighed then riffle split to obtain between 3kg
taken. and 5kg of sample. All samples are dry. The sub-sample is sent to ALS
laboratory in Brisbane.
· If non-core, whether riffled, tube sampled, rotary split, etc and
whether sampled wet or dry. · Sample sizes are considered appropriate for the material being
sampled as the tin mineralisation occurs as cassiterite (SnO(2)) within
· For all sample types, the nature, quality and appropriateness of the sub-vertical veins that are between 0.05mm and 0.5cm wide (rarely to 5cm) and
sample preparation technique. cassiterite crystals are smaller than vein width. Vein density varies from
about 5/m to greater than 20/m and hence several veins are sampled in each
· Quality control procedures adopted for all sub-sampling stages to metre. This compares with sample size that is approximately 10,000 cm(3) for
maximise representivity of samples. RC and 3,200cm(3) for HQ Core before sub-sampling.
· Measures taken to ensure that the sampling is representative of the · Drilling is at an angle of -60° or less and hence cuts across veins
in situ material collected, including for instance results for field that are sub-vertical (-90°).
duplicate/second-half sampling.
· At the ALS laboratory in Brisbane, the sample of RC chips is crushed
· Whether sample sizes are appropriate to the grain size of the and split to less than 3kg if appropriate using method CRU-21. The entire
material being sampled. sample or sub-sample is then pulverized in a mill to 85% finer than 75µm
using method PUL-23.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Tin is a difficult element to analyse as cassiterite is not soluble
laboratory procedures used and whether the technique is considered partial or in acid. Thus, a sub-sample of the pulverized and mixed material is taken
total. and fused with lithium borate. The fused bead is then analysed by a mass
spectrometer using method ME-MS85 which reports Sn, W, Ta and Nb. This
· For geophysical tools, spectrometers, handheld XRF instruments, etc, returns a total tin content, including tin as cassiterite. Over limit assays
the parameters used in determining the analysis including instrument make and of tin are re-analysed using method ME-XRF15b which involves fusion with
model, reading times, calibrations factors applied and their derivation, etc. lithium metaborate with a lithium tetraborate flux containing 20% NaNO(3) with
an XRF finish.
· Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of · Other elements are analysed by method ME-ICP61. This involves a 4
accuracy (ie lack of bias) and precision have been established. acid (HF-HNO(3)-HCLO(4) digest, HCl leach and ICP-AES finish). This is an
industry standard technique for Cu, Pb, Zn and Ag. A suite of 34 elements
are reported, including tin, which is only acid soluble tin in this case and
thus can be subtracted from the fusion tin assays to obtain tin as
cassiterite. The acid soluble tin is generally associated with stannite and
in the lattice of silicates. It is generally insignificant is relation to
tin as cassiterite at Taronga.
· Prior to dispatch of samples, the following QaQc samples are added:
o Certified standards representative of the grades expected are added at
the rate of 1 in 40 samples
o Blanks are added at the rate of 1 in 40 samples
o Duplicates are added at the rate of 1 in 20 samples for RC. These
are riffle split from the original sample on site.
o For diamond drilling, the half core is split into two quarter cores
every 1 in 20 samples and these are sent as duplicates
· All QAQC data is within acceptable limits, with re-assay of any out
of specification batches undertaken.
Verification of sampling and assaying · The verification of significant intersections by either independent · All data is recorded on site in Excel spreadsheets and this is later
or alternative company personnel. transferred to an Access database - the main data repository. Detailed
protocols for data recording, logging codes etc are used.
· 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 · All drillholes are pre-planned and located by use of handheld GPS.
and down-hole surveys), trenches, mine workings and other locations used in Holes are sited using Devico gyro navigation. All hole collars are surveyed
Mineral Resource estimation. in accurately post drilling with RTKGPS (+-0.1m).
· Specification of the grid system used. · All RC holes are surveyed using downhole magnetic surveys.
· Quality and adequacy of topographic control. · All holes have surveys approximately every 30m downhole.
· The grid system used is GDA94, zone 56.
· Topography is obtained from government data.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Drill hole spacing is not designed to enable resource estimation and
is only considered to be first pass exploration at present.
· 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 · The drilling is oriented at about 80-90° to the orientation of the
possible structures and the extent to which this is known, considering the sheeted veins.
deposit type.
· The veins are sub-vertical and the drilling is angled at -60° to be
· If the relationship between the drilling orientation and the as close as possible to cutting across the veins at 90°.
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material. · As drilling was designed to cut the main sheeted veins at as high an
angle as possible. The potential for any introduced sampling bias is
considered minor.
Sample security · The measures taken to ensure sample security. · A chain of custody was maintained for all TMPL drilling.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · An initial review of sampling procedures whilst drilling was in
progress, with some recommendations, was completed by Simon Tear of
independent consultants H&S Consultants Pty Ltd
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · The project is secured by one granted tenement: EL8335 which is
agreements or material issues with third parties such as joint ventures, currently in good standing. This is held 100% by TMPL.
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings. · No joint ventures or other encumbrances are known. The underlying
properties are mainly Crown Land and town common.
· 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. · These are subject to Native Title. No native title claims existed
at the time the tenements were granted but a statewide native title claim on
crown land is believed to exist.
· No national parks, historical sites or environmental constraints are
known.
· 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. · Mining was undertaken by Loloma during the 1970s and 1980s. Limited
exploration studies were undertaken by EZ/Loloma, Billiton, Mineral Deposits
and Base Minerals between the 1970s and 1980s. This data provides some
guidance but location of drillholes is inaccurate and can only be confirmed
within +/- 10-20m. This has not, and will not, be used for any future
resource estimation work.
Geology · Deposit type, geological setting and style of mineralisation. · The deposit is a sheeted vein style tin +/- zinc-copper-silver
deposit with horizontally and vertically extensive veins of
quartz-mica-cassiterite-sulphide+/-fluorite-topaz occurring over a combined
area of up to 3,000m by 600m.
· 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 a felsic volcanic or volcaniclastic sediment.
· 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 has tapped these
enriched fluids which have subsequently deposited the metals due to changing
temperature and pressure conditions and/or mixing with meteoric fluids.
Drill hole Information · A summary of all information material to the understanding of the · See Attachment 1 - Drill Hole Details.
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, · All intercepts shown are weighted averages of uncut data. The
maximum and/or minimum grade truncations (eg cutting of high grades) and intervals are based on a nominal lower cut-off of 0.05% Sn.
cut-off grades are usually Material and should be stated.
· The only high grades are due to very thick veins with coarse
· Where aggregate intercepts incorporate short lengths of high grade cassiterite. These are shown in the table, as to leave them out would give
results and longer lengths of low grade results, the procedure used for such an unrealistic view of grade variability.
aggregation should be stated and some typical examples of such aggregations
should be shown in detail. · No metal equivalent grades are quoted.
· 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 · As mineralisation is sub-vertical and holes dip at -60°, actual true
Exploration Results. widths are around 50% of interval widths.
· If the geometry of the mineralisation with respect to the drill hole · True widths are shown in the attached table.
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 · Plan and section views provided.
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 results obtained to date are reported.
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration · The accompanying document is considered to represent a balanced
Results. report.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · No other exploration data is reported here.
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 · RC exploration drilling is in progress and will be reported
extensions or depth extensions or large-scale step-out drilling). separately when all results are to hand. It is intended that more detailed
drilling of selected targets will be undertaken in the next few years.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
Attachment 1: Complete drilling data Table
Hole No. *Easting (GDA94 Z56) *Northing (GDA94 Z56) *Elevation (m) *Dip (°) *Azimuth (° True) Total Depth (m) From (m) To (m) Interval (m) Estimated True Width (m) Grade (% Sn)
TMGBRC001 366450 6742625 928 -60 180 31.0 2 50 48 24 0.183
incl. 2 23 21 10.5 0.322
incl. 11 18 7 3.5 0.629
and 42 50 8 4 0.147
64 69 5 2.5 0.183
102 105 3 1.5 0.116
TMGBRC002 366450 6742625 928 -60 360 139 awaited
TMGBRC003 366583 6742648 939 -60 180 30 awaited
TMGBRC004 366331 6742603 928 -60 180 109 awaited
TMGBRC005 366000 6742325 927 -60 180 111 awaited
TMGBRC006 366000 6742250 924 -60 180 137 awaited
TMGBRC007 367242 6742848 951 -60 180 90 awaited
TMGBRC008 367242 6742848 951 -60 360 90 awaited
TMGBRC009 365100 6742475 898 -60 180 126 awaited
TMGBRC010 365100 6742475 898 -60 360 TBD TBD
TMGBRC011 365100 6742325 899 -60 180 TBD TBD
TMGBRC012 365100 6742250 899 -60 180 TBD TBD
(* = Estimated, Survey Yet to be Undertaken; TBD = To be drilled; awaited =
samples despatched, assays awaited)
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