Last checked at 20 May 2019 07:00
20 May 2019
AfriTin Mining Limited
("AfriTin" or the "Company")
Uis Exploration Drilling Update
AfriTin Mining Limited (AIM: ATM) ("AfriTin or the Company"), a mining company with a portfolio of near production tin assets in Namibia and South Africa, with its flagship asset, the Uis Tin Mine ("Uis") in Namibia, is pleased to provide an update on the drilling programme designed to support the declaration of a Mineral Resource estimate on the V1 and V2 pegmatite.
Highlights
▪ Resource validation drilling completed (twenty holes) for 2343.40 m;
▪ Completion of geological logging and sampling for assets;
▪ Receipt of the first batch of assay results (five holes);
▪ Significant intersections include;
o 16.22m @ 0.21% Sn and 129ppm Ta in drill hole V1V2001
o 17.87m @ 0.19% Sn and 124ppm Ta In drill hole V1V2002
o 28.90m @ 0.20% Sn and 101ppm Ta in drill hole V1V2004
o 47.60m @ 0.22% Sn and 88ppm Ta in drill hole V1V2005
In Q4 2018, AfriTin initiated an exploration drilling programme aimed at validating the historic information disclosed by SRK in 1985, for ISCOR, for the V1 and V2 pegmatites and supporting the declaration of a maiden, JORC (2012)-compliant, Mineral Resource estimate on the V1 and V2 pegmatites at the Uis Project. The Company divided the exploration programme into two phases: an initial phase focussed on the drill holes required for the validation of the historical data and a second phase focussed on exploring the down-dip continuation of the V1 and V2 pegmatites.
The Company is pleased to announce the completion of the first 20 diamond drill holes, recommended for the validation of the historical data, by CSA Global as announced on 06 November 2018 (RNS No.: 4042G). These drill holes have been geologically logged, sampled and are being analysed by a certified independent laboratory and will be used to estimate the Uis Mineral Resource to be announced to the market in due course. The down-dip, step-out drilling is in progress. An Initial update of the geological model indicates a close correlation between the historic drill programme and the holes completed during this programme.
Initial results of the first five holes are reported here with subsequent results being expected in the near future. The analytical results confirm that tin and tantalum mineralisation is primarily confined to pegmatite bodies. In areas where the V1 body has been separated into upper and lower units the drill hole intercepted a xenolith of country rock which separates the pegmatite. The sample analysis was undertaken by UIS Analytical Services. The major and minor elements were analysed by ICP-OES and the trace elements were analysed by ICP-MS.
Table 1: Exploration results of the first 5 holes of the current drilling campaign, (widths reported indicate apparent intersection widths)
Hole ID | Dip Angle (Degrees) | Pegmatite Unit | From (m) | To (m) | Width (m) | Grade Sn (%) | Grade Ta (ppm) | Grade Li2O (%) |
V1V2001 | -85 | V1 | 39.64 | 55.86 | 16.22 | 0.21 | 129 | 0.40 |
V1V2002 | -70 | V1 Upper | 34.78 | 46.00 | 11.22 | 0.16 | 158 | 0.43 |
|
| V1 Lower | 49.73 | 67.6 | 17.87 | 0.19 | 124 | 0.68 |
V1V2004 | Vertical | V1 | 0.00 | 28.9 | 28.9 | 0.20 | 101 | 0.59 |
V1V2005 | -75 | V1 | 39.44 | 87.04 | 47.6 | 0.22 | 88 | 0.43 |
V1V2006 | -85 | V2 | 11.7 | 15.44 | 3.74 | 0.15 | 180 | 0.36 |
|
| V1 Upper | 61.57 | 74.53 | 12.96 | 0.08 | 105 | 0.49 |
|
| V1 Lower | 87.89 | 103.11 | 15.22 | 0.19 | 77 | 0.56 |
Results received thus far from the current campaign are considered comparable, subject to additional validation work, to those reported by SRK (1985), both in terms of geological validation of the current geological model, and in terms of tin (Sn) grade, with SRK (1985) reporting an average grade of 0.14 % Sn for the V1 and V2 pegmatites.
Anthony Viljoen, CEO of AfriTin Mining Limited commented:
"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 originally produced by SRK for Iscor. 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."
Competent Person Statement:
The technical data in this announcement has been reviewed by Dr Brendan Clarke of CSA Global, who provides geological consulting services to AfriTin. Dr Clarke is Manager - Africa for CSA Global and has 20 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. Dr Clarke 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
Li | Lithium |
Li2O | Lithium oxide |
Li → Li2O | Conversion factor of 2.153 |
ICP-MS | Inductively Coupled Plasma- Mass Spectrometry |
ICP-OES | Inductively Coupled Plasma- Optical Emissions Spectrometry |
JORC | The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves |
PPM | Parts Per Million |
QAQC | Quality Assurance Quality Control |
Sn | Elemental symbol for Tin |
Ta | Elemental symbol for Tantalum |
V1 and V2 | Primary pegmatite resource targets for Exploration |
For further information, please visit www.afritinmining.com or contact:
AfriTin Limited |
|
Anthony Viljoen, CEO | +27 (11) 268 6555 |
Nominated Adviser and Joint Broker |
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WH Ireland Limited Katy Mitchell Adrian Hadden James Sinclair-Ford | +44 (0) 207 220 1666 |
Corporate Advisor and Joint Broker Hannam & Partners Andrew Chubb Jay Ashfield Nilesh Patel | +44 (0) 20 7907 8500 |
Joint Broker |
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NOVUM Securities Limited Jon Belliss | +44 (0)20 7399 9400 |
Financial PR (United Kingdom) |
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Tavistock | +44 (0) 207 920 3150 |
Jos Simson Barney Hayward |
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About AfriTin Mining Limited
Notes to Editors
AfriTin Mining is the first pure tin company listed in London and its vision is to create a portfolio of world-class, conflict-free, tin producing assets. The Company's flagship asset is the Uis brownfield tin mine in Namibia, formerly the world's largest hard-rock tin mine.
AfriTin is managed by an experienced board of directors and management team with a current two-fold strategy: fast track Uis brownfield tin mine in Namibia to commercial production in 2019, ramping up to 5,000 tonnes of concentrate, and consolidation of other quality African tin assets. The Company strives to capitalise on the solid supply/demand fundamentals of tin by developing a critical mass of tin resource inventory, achieving production in the near term and further scaling production by consolidating tin assets in Africa.