Completion of Mine Design at Uis Tin Project

RNS Number : 7152J

AfriTin Mining Ltd

04 April 2018

 

4 April 2018

AfriTin Mining Limited

("AfriTin" or the "Company")

Completion of Mine Design at Uis Tin Project, Namibia

AfriTin Mining Limited (AIM: ATM), a mining company with a portfolio of near production tin assets in Namibia and South Africa, with the flagship asset being the Uis Tin Mine in Namibia, is pleased to provide an update on its operations at the Uis mine.

Highlights

·      Completion of a detailed mine design over the priority, V1/V2 pegmatites;

·      Development of an initial fast tracked 5-year mining production schedule;

·      Construction to start May 2018 with production on track for H2 2018; and

·      Indications of low overburden stripping ratios and a fast production ramp-up.

Following the completion of a mapping programme and construction of a 3-D geological model the Company has undertaken a detailed mine design for the V1 and V2 pegmatite bodies, previously identified as priority targets to supply feed to the new intermediary processing plant ("Plant").  The mine design includes an initial 5-year mine production schedule to commence operations on the outcropping pegmatite bodies and existing excavations of the historical V1/V2 pits.

This internal mine plan supports an overburden stripping ratio of less than 1 (overburden-to-ore ratio) and a fast ramp-up profile utilising conventional open pit mining methods.  Material will be liberated through drilling and blasting; loading and hauling will be effected by combining excavators and articulated dump trucks.  The run-of-mine feed to the Plant for this phase of development is planned at 500,000 tonnes per year with an anticipated annual production of 800 tonnes of saleable tin concentrate (although at this stage, this rate is not guaranteed).  The target for the following phase remains 5,000 tonnes of tin concentrate per annum.

A plant location has been identified in close proximity to the V1/V2 pegmatite bodies.  The site layout and project infrastructure is being finalised and earthworks and civil works construction are scheduled to commence during May 2018 with production on track for H2 2018.

Commenting on the developments CEO Anthony Viljoen stated, "We are very pleased with the results of this early production phase Mine Design work that has recently been completed.  Once operational we believe this will confirm the potential of the Uis Project as a world-class tin mine with low operational risks. 

Whilst we believe Uis has the resources to be a long-life operation, this phased approach, should provide a platform for sustainable early cash flows. It should also de-risk the implementation of a larger scale mining and processing facility which in turn should allow us to progress long term project financing options.  We remain excited about the project progression and the long-term opportunity that AfriTin provides to investors in the world tin market".

Enquiries:

AfriTin Limited
Anthony Vijoen (CEO)	[phone]
Nominated Adviser and Broker
WH Ireland Limited Katy Mitchell Adrian Hadden James Sinclair-Ford	[phone]
Financial PR (United Kingdom)
Tavistock
Jos Simson / Barney Hayward	[phone]
Financial PR (South Africa)
Lifa Communications Cath Drummond / Gabriella von Ille	[phone]

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 a highly 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 2018 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.

 

END

 

 

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