08 June 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, Initial Results
AfriTin Mining Limited (AIM: ATM), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, is pleased to announce initial results for the lithium and tantalum drilling programme at the Company's flagship operation, the Uis Mine ("Uis").
The infill drilling programme is being conducted at the main V1/V2 pegmatite at Uis, which is currently being mined to extract tin, with a view to increasing the confidence of the existing lithium and tantalum estimates for the deposit. The programme consists of approximately 50 planned holes; drilling for 27 holes has been completed. This announcement reports the assay results for the first 4 holes.
Link to full PDF version with images: https://afritinmining.com/lithium-and-tantalum-infill-drill-programme-initial-results/
Highlights:
· Significant V1/V2 pegmatite intersections include:
o 132m at 0.168% Sn, 75 ppm Ta, and 0.74% Li2O for drill hole V1V2049, from 124m to 256m;
o 110m at 0.171% Sn, 92 ppm Ta, and 0.75% Li2O for drill hole V1V2057, from 92m to 202m;
· Pegmatite intersected in all holes at depths and apparent widths as predicted by the geological model;
· Notable intersections of lithium mineralisation within the pegmatite include:
o 8m at 1.08% Li2O for drill hole V1V2036, from 140m to 148m;
o 10m at 1.05% Li2O for drill hole V1V2045, from 136m to 146m;
o 12m at 0.99% Li2O for drill hole V1V2049, from 231m to 243m; and
o 45m at 1.04% Li2O for drill hole V1V2057, from 136m to 181m.
Anthony Viljoen (CEO) commented:
"We are very pleased to announce these drilling results which have produced lithium grades surpassing our expectations and reinforce our belief that Uis is host to one of the largest lithium resources globally. While the V1/V2 pegmatite displays impressive dimensions and is open-ended at depth, a multitude of surrounding pegmatites present significant upside potential.
"As a former mining operation, Uis has been extensively drilled but historic assaying has focused solely on the tin with no regard for the lithium or tantalum in the deposit. This programme will increase the confidence of the current lithium and tantalum estimates and is part of our strategy to bring these two commodities into production alongside our tin operation.
"Our recently released preliminary economic assessment for the Phase 2 Project in April (see announcement dated 26 April 2022) highlighted the economic potential of these by-product elements which are game changing. The construction of a new lithium pilot plant will allow us to progress to commercial production phases much faster than a new greenfield lithium resource elsewhere."
Exploration Programme
The Company initiated this programme with the aim of upgrading the existing resource classification for lithium and tantalum over the areas where tin is presently classified within the measured and indicated categories for the JORC (2012) compliant mineral resource estimate (MRE) established in 2019 (see announcement dated 16 September 2019). The mineralised intersections of the reported holes are well aligned with the current geological model, highlighting the veracity of the existing dataset. These drill holes intersected the pegmatite where the V1 and V2 bodies have amalgamated into a single larger unit. The dip angle of the pegmatite varies from 24 degrees to 48 degrees across the unit.
1 Exploration results of holes V1V2036, V1V2045, V1V2049 and V1V2057 including selected higher grade continuous lithium intersections from each hole (width refer to the apparent intersection)
| Hole ID | Inclina-tion | Pegmatite Unit |
| From (m) | To (m) | Width (m) | Grade | ||
| Sn (%) | Ta (ppm) | Li2O (%) | |||||||
| V1V2036
| Vertical
| V1/V2
| whole intersection | 136.87 | 183.42 | 46.55 | 0.191 | 101 | 0.74 |
| including | 140.00 | 148.00 | 8.00 | 0.109 | 95 | 1.08 | |||
| V1V2045
| Vertical
| V1/V2
| whole intersection | 114.49 | 209.19 | 94.7 | 0.167 | 67 | 0.58 |
| including | 136.00 | 146.00 | 10.00 | 0.118 | 55 | 1.05 | |||
| V1V2049
| Vertical
| V1/V2
| whole intersection | 124.19 | 256.05 | 131.86 | 0.168 | 75 | 0.74 |
| including | 231.00 | 243.00 | 12.00 | 0.176 | 100 | 0.99 | |||
| V1V2057
| Vertical
| V1/V2
| whole intersection | 92.25 | 202.05 | 109.8 | 0.171 | 92 | 0.75 |
| including | 136.00 | 181.00 | 45.00 | 0.176 | 76 | 1.04 | |||
The reported holes comprise diamond drilling; each hole was vertically orientated with intersection widths being representative of apparent thickness. Each drill hole was geologically, and geotechnically logged before being cut and sampled. The samples were taken at one-meter intervals wherever possible. Sample analysis was undertaken by UIS Analytical Services, a certified independent laboratory, with ICP-OES being utilised for major and minor elements and ICP-MS being utilised for the reporting of trace elements.
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 and systematically variable 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, including monomineralic zones |
| 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 Adam Baynes | |
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
