Last checked at 20 Jul 2022 07:00
20 July 2022
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
AfriTin Mining Limited
("AfriTin" or the "Company")
Lithium and Tantalum Infill Drill Programme Update
AfriTin Mining Limited (AIM: ATM), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, announces the second batch of results for the lithium and tantalum drilling programme at the Company's flagship operation, the Uis Mine ("Uis").
The infill drilling programme is currently being executed over the V1/V2 pegmatite at Uis, with the aim of increasing the confidence in the existing lithium and tantalum Mineral Resource estimate over the deposit. The programme consists of approximately 50 holes. To date, 32 drill holes have been completed and are in the process of being analysed. Results for the first four holes were announced on 8 June 2022 - this announcement reports the assay results for the next five holes (Figure 1).
Highlights:
· Significant pegmatite intersections include:
o 22 m at 0.153% Sn, 104 ppm Ta, and 1.18% Li2O within drill hole V1V2055, from 23 m to 45 m;
o 69 m at 0.178% Sn, 98 ppm Ta and 0.45 Li2O for hole V1V2061, from 98 m to 167 m;
o 52 m at 0.173% Sn, 86 ppm Ta, and 0.58% Li2O for drill hole V1V2064, from 135 m to 187m.
· Pegmatite was intersected in all holes drilled, as predicted by the geological model.
Anthony Viljoen (CEO) commented: "These results confirm our understanding of the mineralisation at Uis, in particular the polymetallic nature of the V1/V2 pegmatite, which continues to show consistent tin, tantalum and lithium mineralisation. We are confident, following continued positive results, that we are on track to reaching our objective of upgrading our resource for Lithium and Tantalum for the V1/V2 pegmatite. This phase of our drill programme contains notable intersections of lithium and tantalum mineralisation, which supports our strategic plan to implement additional processing plant circuits by Q4 of this year (refer to announcement dated 6 April 2022).
We look forward to updating our mineral resource estimate and adding processing capabilities for multiple product revenue streams."
Exploration Programme
The infill drilling programme aims to upgrade the existing resource for lithium and tantalum in the measured and indicated categories for the 2019 JORC (2012) compliant MRE for Uis in 2019 (see announcement dated 16 September 2019). The pegmatite intersections of the reported holes complement the current geological model, confirming AfriTin's confidence in its geological model. The drill holes intersected the pegmatite where the V1 and V2 bodies have bifurcated into individual pegmatites. The dip angle of the pegmatites vary from 24 degrees to 48 degrees. All of the reported drill holes are vertically orientated with reported intersections representing apparent thickness. Some schistose xenoliths were intersected in the drill holes and the reported results provide actual pegmatite intersections excluding the schist interval(s).
Table1: Exploration results of holes V1V2055, V1V2061, V1V2064, V1V2068 and V1V2073 indicating the full pegmatite intersection and pegmatite grades excluding xenolith and schist intervals.
Hole ID | Pegmatite | Pegmatite Intersection, Including Waste, From/To (m) | Pegmatite Intersection, Excluding Waste, From/To (m) | Intersection Length (m) | Grade | ||
Sn (%) | Ta (ppm) | Li2O (%) | |||||
V1V2055 | V2 | 1 - 45 | 1.20 - 8.47 | 7.27 | 0.096 | 296 | 0.43 |
22.96 - 45.39 | 22.43 | 0.153 | 104 | 1.18 | |||
V1 | 63 - 134 | 63.40 - 72.11 | 8.71 | 0.149 | 82 | 0.72 | |
83.84 - 96.56 | 12.72 | 0.142 | 82 | 0.67 | |||
100.57 - 102.40 | 1.83 | 0.210 | 44 | 0.57 | |||
106.56 - 112.49 | 5.93 | 0.213 | 91 | 0.70 | |||
115.36 - 133.87 | 18.49 | 0.132 | 91 | 0.53 | |||
V1V2061 | V2 | 55 - 88 | 54.52 - 60.23 | 5.71 | 0.068 | 304 | 0.39 |
66.97 - 88.13 | 21.16 | 0.186 | 165 | 0.52 | |||
V1 | 98 - 175 | 98.09 - 167.18 | 69.09 | 0.178 | 98 | 0.44 | |
169.80 - 174.88 | 5.08 | 0.144 | 215 | 0.41 | |||
V1V2064 | V2 | 112 - 132 | 112.00 - 113.00 | 1.00 | 0.508 | 314 | 0.21 |
115.88 - 119.44 | 3.56 | 0.116 | 479 | 0.44 | |||
121.74 - 124.53 | 2.79 | 0.165 | 209 | 0.65 | |||
127.93 - 131.83 | 3.90 | 0.315 | 234 | 0.47 | |||
V1 | 135 - 187 | 134.84 - 187.09 | 52.25 | 0.173 | 86 | 0.58 | |
V1V2068 | V2 | 108 - 112 | 108.29 - 112.09 | 3.80 | 0.213 | 395 | 0.33 |
V1 | 120 - 160 | 120.11 - 159.56 | 39.45 | 0.187 | 122 | 0.36 | |
V1V2073 | V1 | 92 - 136 | 95.25 - 124.69 | 29.44 | 0.102 | 118 | 0.57 |
127.08 - 136.23 | 9.15 | 0.119 | 91 | 0.51 | |||
The reported holes comprise drill core from diamond drilling; each drill hole was geologically and geotechnically logged before being cut in half and sampled. The samples were taken at approximately one-meter intervals. Sample analysis was undertaken by UIS Analytical Services, a certified independent laboratory, ICP-OES being utilised for major and minor elements and ICP-MS being utilised for the reporting of trace elements.
Figure 1: Map displaying the localities of the reported holes as well as the drill holes of the previous (2019) exploration programme and the holes from this programme previously reported. The line A-A' indicates the area represented by the cross section.
Figure 2: Section line A-A' displaying a projection of the holes drilled in 2019 and hole V1V2064 for which the results are reported in this release
Competent Person Statement
The technical data in this announcement has been reviewed by Michael Cronwright (M.Sc., FGSSA, Pr. Sci Nat. (Geological Sciences)). He is a full-time employee of CSA Global, and provides geological consulting services to AfriTin. Mr Cronwright is a Principal Consultant - Battery Metals co-ordinator for CSA Global and has 22 years of industry related exploration and mineral project development experience and is a Competent Person for the reporting of Exploration results. He has reviewed both the technical disclosures in this release as well as the quality assurance protocols and results for the assay campaign. Mr Cronwright consents to the release of the information contained in the announcement and is satisfied that the results of the QAQC on the assay results released to date are sufficient to support the planned estimation of Mineral Resources.
Glossary of abbreviations
ICP-MS | Inductively Coupled Plasma-Mass Spectrometry |
ICP-OES | Inductively Coupled Plasma-Optical Emission Spectrometry |
Li | Symbol for Lithium |
Li → Li2O | Metal to metal-oxide conversion factor of 2.153 |
Li2O | Lithium oxide |
JORC | The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves |
MRE | Mineral Resource Estimate |
PPM | Parts Per Million |
QA/QC | Quality Assurance / Quality Control |
Sn | Symbol for Tin |
Ta | Symbol for Tantalum |
V1/V2 | Name of the targeted pegmatite unit, V1/V2 denotes where the V1 and V2 pegmatites have merged at depth. |
Glossary of Technical Terms
Apparent Thickness | The relationship between apparent width and true thickness is: apparent width = x.y * true thickness |
Dip Angle | The angle of inclination measured downward from horizontal |
Geological Model | The interpretation of mineralisation and geology that controls mineralisation. This is usually generated in a three-dimensional computer environment |
Mineral Resources | Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories. An Inferred Mineral Resource has a lower level of confidence than that applied to an Indicated Mineral Resource. An Indicated Mineral Resource has a higher level of confidence than an Inferred Mineral Resource but has a lower level of confidence than a Measured Mineral Resource |
Pegmatite | An igneous rock typically of granitic composition, which is distinguished from other igneous rocks by the extremely coarse size of its crystals, or by an abundance of crystals with skeletal, graphic, or other strongly directional growth habits, or by a prominent spatial zonation of mineral assemblages |
Xenolith | A foreign rock fragment (e.g. schist) within an intrusive body (e.g. pegmatite) that is unrelated to the igneous intrusion. |
AfriTin Mining Limited | +27 (11) 268 6555 |
Anthony Viljoen, CEO | |
Nominated Adviser | +44 (0) 207 220 1666 |
WH Ireland Limited Katy Mitchell | |
Corporate Advisor and Joint Broker | |
H&P Advisory Limited Andrew Chubb Jay Ashfield Nilesh Patel | +44 (0) 20 7907 8500 |
Stifel Nicolaus Europe Limited Ashton Clanfield Callum Stewart | +44 (0) 20 7710 7600 |
Tavistock Financial PR (United Kingdom) | +44 (0) 207 920 3150 |
Emily Moss Catherine Drummond
|
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining Limited is a London-listed technology metals mining company with a vision to create a portfolio of globally significant, conflict-free, producing and exploration assets. The Company's flagship asset is the Uis Tin Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.
AfriTin is managed by an experienced board of directors and management team with a current strategy to ramp-up production at the Uis Mine in Namibia to more than 10,000 tonnes of tin concentrate and 350,000 tonnes of lithium concentrate in a Phase 2 expansion, having reached Phase 1 commercial production in 2020. The Company strives to capitalise on the solid supply/demand fundamentals of tin and lithium by developing a critical mass of resource inventory, achieving production in the near term and further scaling production by consolidating assets in Africa.