Taronga Soil Sampling Update

First Tin PLC

07 February 2024

 

7 February 2024

First Tin Plc

("First Tin" or "the Company")

Taronga Soil Sampling Update

Soil Sampling Results Identify The Extent of Taronga Deposit

and Suggest Extensions and Repetitions

First Tin PLC, a tin development company with advanced, low capex projects in Germany and Australia, is pleased to provide an update on the recent soil sampling programme over its Taronga Tin Project and surrounds in Australia. The project is owned by First Tin's 100% owned Australian subsidiary, Taronga Mines Pty Ltd ("TMPL").

The sampling has:

·    Confirmed extensions to known mineralisation to the northeast and southwest.

·    Identified several potential satellite tin mineralisation targets.

·    Confirmed that no significant mineralisation occurs beneath the proposed rock dumps.

The soil sampling programme clearly outlines the Taronga mineralisation using a 500ppm (parts per million) Sn (tin) cut-off, as shown on Figures 1 and 2.  The 500ppm Sn contour is almost exactly co-incident with the southeastern edge of known mineralisation in the North Pit area due to the topographic slope being to the northwest, therefore no upslope creep can occur.  However, the 500ppm Sn contour occurs downslope of the known mineralisation to the northwest, which we assume is due to downslope creep, although extensions to mineralisation cannot be ruled out.  The mineralisation in the South Pit area consists of four separate zones that are located on both the southeast and northwest slopes of the hill.  Based on this, we predict that downslope creep will occur on both sides of the hill, exaggerating the extent of the soil anomaly.

The plus 500ppm Sn anomaly extends to the northeast and southwest of the known mineralisation, suggesting extensions in those directions are likely. This is supported by the two end lines of drilling still being mineralised.  Several other zones of plus 500ppm Sn could represent satellite mineralisation and these are discussed in more detail below.

The areas of plus 500ppm Sn in soils are shown as targets on Figure 3:

1.    Taronga Deposit (known mineralisation) and extensions to the northeast and southwest.

2.    Potential sub-parallel zone with no drilling (may be downslope creep contamination).

3.    Potential sub-parallel zone with no drilling (may be downslope creep contamination).

4.    This has been assumed to be contamination from the previous small scale mining ventures, but requires some drilling to confirm if it is a sub-parallel zone of mineralisation.

5.    Part of this area has been drilled by Newmont (Wells Lode, southwest end of trend) and sheeted quartz-tin veining has been located there.  The interpreted extension to the northeast cannot be contamination as it is separated from the main mineralisation by a topographic high, and thus represents a valid drill target.

6.    This is a single line tin anomaly (no sampling to the east) and requires additional confirmatory sampling.

7.    This is a single line tin anomaly (no sampling to the east) and requires additional confirmatory sampling.

8.    This occurs in an area of alluvium and is probably downstream contamination.

Anomalies 2 to 7, and the NE and SW extensions of anomaly 1, require additional sampling, geological mapping and, if warranted, drilling.  These may represent supplementary feed for the proposed Taronga processing facility.

First Tin CEO, Bill Scotting commented: "This is the first systematic soil sampling conducted over our Taronga tin deposit and we are pleased to announce that the gathered data provides a framework for understanding soil anomalies across the broader Emmaville district. Our sampling has reassured First Tin that no significant mineralisation is present in the designated waste rock dumps, as well as confirming the potential for extensions to the Taronga mineralisation to both the northeast and southwest. Furthermore, we have identified several nearby targets with potential to serve as supplementary feed sources for the proposed Taronga processing plant."

Figure 1: Taronga Soil Sampling with Tin Assays Shown

Figure 2: Taronga Soil Sampling with Plus 500ppm Sn Zone Shown

Figure 3: Taronga Soil Sampling with Target Zones Shown

Enquiries:

First Tin	Via SEC Newgate below
Bill Scotting - 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	[e-mail]

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.

 

END