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(Alliance News) - AfriTin Mining Ltd on Thursday said initial exploration results near its flagship Namibian mine have confirmed the possibility of lithium, tin and tantalum mineralisation at the site.
AfriTin Mining is a Guernsey-based, Namibia-focused technology metals mining company. The ML133 mining licence, over which it has conducted a twelve-month exploration programme, is located 35 kilometres southeast of its flagship mine, Uis.
Tests at the licence included aerial surveys, regional and high-resolution geological mapping, and surface chip sampling.
The company said over 100 pegmatites were outlined by geological mapping, while sampling consisted of 79 pegmatite chip samples over 64 selected pegmatites.
Of the chip sample results, sampled across the width of selected pegmatites on a one-metre interval, AfriTin Mining highlighted findings such as 13 metres at 1.9% lithium oxide, 0.1% tin, and 36 parts per million of tantalum from sample line T78.
The weighted average of the 20 highest lithium grade sample lines combined provided 200 metres at 1.3% lithium oxide.
Looking ahead, the company will now move onto the next phase of exploration, which includes scout drilling. Continued geological mapping and sampling is planned for the mineralisation trends within the licence area.
AfriTin said its initial focus would be the mapped area north of the historical Tin Tan mine, as this area appears to be "preferentially enriched" in lithium.
"We are especially excited about these initial exploration results. It confirms our belief that the pegmatites of the ML133 licence could contain significant lithium, tin and tantalum mineralisation. We intend to advance the next stage of our work programme over this area, including exploration drilling and initial metallurgical test work," said Chief Executive Officer Anthony Viljoen.
"Proximity of the test area to the Uis Mine, which is our operating facility with comparable types of mineralisation, presents potential development synergies."
ML133 is accessible by road from the Uis site, and is also connected to the Walvis Bay port to the southwest.
AfriTin shares were trading 1.3% lower at 4.41 pence each in London on Thursday afternoon.
By Holly Beveridge; hollybeveridge@alliancenews.com
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