(Alliance News) - AfriTin Mining Ltd on Monday announced its maiden resource estimate for the Uis Tin mine in Namibia, following a drilling programme which was completed in May.
The drilling programme comprised 26 diamond drill homes, or 4.44 kilometres, and was used to validate historical data from previous percussion drill and diamond drill holes on the mine.
AfriTin reported a total resource estimate of 71.5 million tonnes, at a grade of 0.134% tin containing 95,539 ounces.
Measured resources amounted to 21.5 million tonnes, at a grade of 0.139% with 29,899 tonnes of contained tin.
Indicated resources came up to 13.1 million tonnes, grading 0.136% tin and containing 17,765 tonnes, and inferred resources at 37.0 million tonnes, at a grade of 0.130%, containing 47,875 tonnes of tin.
The mineral resources were estimated for the tin, lithium and tantalum contained within two pegmatite orebodies referred to as the V1 and V2 pegmatites.
"Confirming the historical data at Uis has always been a crucial step in the progression and development of our flagship asset. The additional down dip drilling confirmed extension and thickening of the orebody at depth affirming our belief in the scale of this deposit and increasing the resource historically stated by SRK on the V1/V2 orebody," said Chief Executive Officer Anthony Viljoen.
"The addition of tantalum and lithium to the estimate, further enhances the attractiveness of this globally significant asset and creates an exciting opportunity for other potential revenue streams," Viljoen added.
Shares in AfriTin Mining were 9.7% higher at 3.29 pence on Monday in London.
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