31 August 2023
First Tin Plc
("First Tin" or "the Company")
Taronga Mines Pty Ltd applies for Exploration Licence over the Tingha Tin Field
First Tin PLC ("First Tin"), a tin development company with advanced, low capex projects in Germany and Australia, is pleased to report that its 100% owned Australia subsidiary - Taronga Mines Pty Ltd (TMPL) - has applied for a large (276.6km2) Exploration Licence covering the majority of the Tingha tin field, located approximately 50km from TMPL's advanced stage Taronga tin project in northeastern New South Wales (Figure 1).
There are three main tin fields in northeastern NSW and southeastern Queensland, that form the New England Tin Corridor. This is evident in Figure 1, which shows known tin mineralisation as orange dots overlaid on a Google Earth image. TMPL currently holds the majority of the Emmaville Tin Field under its existing tenure. Once the Exploration Licence is granted, TMPL will hold the majority of the Tingha Tin Field and will have access to explore most of the known tin mineralised areas in northeastern NSW. This will consolidate the Companys control of the exploration potential around our world class Taronga tin deposit.
The three tin fields all have significant historical tin production, the majority of which is from alluvial and eluvial sources:
· Stanthorpe Tin Field 51,000t tin
· Emmaville Tin Field 88,000t tin
· Tingha Tin Field 64,000t tin
The tin mined at Tingha was mainly alluvial, with large dredges operating over an extended timeframe during the late 1800s to late 1900s. The tin is interpreted as being derived from the Triassic age Gilgai Leucogranite which has a similar age and formation history to the Mole Leucogranite, which is interpreted as the source of the tin mineralising fluids that formed Taronga.
Some small hard-rock deposits are known to occur in the Tingha area. These are generally vein-style (quartz-cassiterite-mica) deposits that trend east-northeast and northwest. While they tend to be small, we can see potential for larger disseminated or stockwork-sheeted vein-style deposits, similar to Taronga.
Initial work will consist of data compilation and geological mapping aimed at assessing the potential for large scale disseminated or sheeted-stockwork style tin deposits. This will be followed by drilling if warranted.
First Tin CEO Thomas Buenger said: "This Exploration Licence submission is an important step in consolidating First Tin's control of significant historical tin producing areas in northeastern NSW. It forms part of our long-term strategy of building on our existing tin holdings and extending our "Tin District" concept around our world-class Taronga tin deposit. We expect that the Exploration Licence will be granted close to the time of completion of our DFS on the Taronga deposit, and we look forward to updating shareholders with the outcome once this procedure has been completed."
Figure 1: Tingha Tin Project EL Application Location Pl
Figure 1: Tingha Tin Project EL Application Location Plan
Enquiries:
| First Tin | Via SEC Newgate below |
| Thomas Buenger - Chief Executive Officer |
|
| Arlington Group Asset Management Limited (Financial Advisor and Joint Broker)
| |
| Simon Catt | 020 7389 5016 |
| | |
| WH Ireland Limited (Joint Broker) | |
| Harry Ansell | 020 7220 1670 |
| | |
| SEC Newgate (Financial Communications) | |
| Elisabeth Cowell / Molly Gretton | FirstTin@secnewgate.co.uk |
Notes to Editors
First Tin is an ethical, reliable, and sustainable tin production company led by a team of renowned tin specialists. The Company is focused on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.
Tin is a critical metal, vital in any plan to decarbonise and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future. Its assets have been de-risked significantly, with extensive work undertaken to date.
First Tin's goal is to use best-in-class environmental standards to bring two tin mines into production in three years, providing provenance of supply to support the current global clean energy and technological revolutions.
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