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LONDON (Alliance News) - AfriTin Mining Ltd on Monday said resource validation drilling at its Uis tin mine in Namibia is now complete, with initial results similar to historical data.
Twenty holes were drilled at Uis, 2343.40 metres in total, and geological logging and sampling was completed.
The first batch of assay results have been received and significant intersections include 16.2 metres at 0.2% tin and 129 parts per million of tantalum in hole V1V2001 and 17.9 metres at 0.2% tin and 124 parts per million of tantalum in hole V1V2002.
The drill programme began in the fourth quarter of 2018 with the aim of validating historical information on the mine and supporting the declaration of a maiden JORC-compliant mineral resource estimate on the V1 and V2 primary pegmatite resource targets at Uis.
The programme is split into two phases, with the initial phase focusing on the drill holes needed to validate historical data while the second phase will be concerned with exploring the continuation of the V1 and V2 pegmatites.
"We continue to make significant progress towards declaring a JORC-compliant mineral resource estimate for our Uis tin project. This is a major step for the company in order to confirm the historical data...While the results of the drilling are subject to a resource modelling and validation process, we are encouraged by the initial results which are comparable to historical data," said AfriTin Chief Executive Anthony Viljoen.
Shares in AfriTin were up 2.1% at 3.37 pence on Monday afternoon in London.