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(Sharecast News) - Namibia-focussed tin mining company AfriTin Mining updated the market on its metallurgical test work programme for potential by-products to its current tin concentrate product on its flagship asset, the Uis Tin Mine, on Monday.
The AIM-traded firm said the mine's JORC-compliant mineral resource estimate included ancillary metals with an inventory of 6,091 tonnes of contained tantalum, and 450,265 tonnes of contained lithium oxide, grading at 85 parts of tantalum per million, and 0.63% lithium oxide, respectively.
Major lithium oxide intersections included 86.51 metres grading at 1.22% lithium oxide on drill hole V1V2017, and 109.32 metres with an average grade of 0.97% at drill hole V1V2010.
The company said it was advancing a metallurgical test work programme to investigate the by-product potential of the ancillary metals.
Test work for a tantalum concentrate was at an advanced stage, while lithium oxide concentrate test work was progressing to a second stage.
"Following the achievement of nameplate tin concentrate production in November, the Uis Tin Mine has exceeded production forecasts," chief executive officer Anthony Viljoen.
"This provides the ideal platform for our metallurgical test work programme to investigate the potential of two major by-products, namely lithium oxide and tantalum.
"Successful implementation of by-product streams may significantly increase our profit margin and allow us to realise the goal of positioning the company in the lowest quartile of the world tin producer cost curve."
At 0900 BST, shares in AfriTin Mining were up 3.17% at 6.5p.
22 Sep 2023 16:09
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