Regional Exploration Update

RNS Number : 4250H

AfriTin Mining Ltd

24 November 2022

 

24 November 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")

Regional Exploration Update - Lithium, Tin and Tantalum

Significant Mineralisation Potential at Surface, 35 km from Flagship Uis Mine

AfriTin Mining Limited (AIM: ATM), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia, is pleased to provide an update on the exploration activities undertaken over its mining licence ML133, located approximately 35 km south-east of the Company's Uis Mine.

The exploration programme has been conducted over a 12-month period commencing in Q4 2021, and included aerial surveys, regional and high-resolution geological mapping, and surface chip sampling. The programme targeted outcropping pegmatites, many of which were found to contain lithium, tin, and tantalum.

Highlights:

· More than 100 pegmatites were outlined by detailed geological mapping over the licence areas of approximately 3,200 hectares;

· Sampling consisted of 79 pegmatite chip sample profiles over 64 selected pegmatites;

· Chip sample results, sampled across the width of selected pegmatites on a 1m interval, included:

o  13 m at 1.93 % Li₂O, 0.10% Sn, and 36 ppm Ta from sample line T78;

o  24 m at 1.65% Li₂O, 0.15% Sn, and 52 ppm Ta from sample line T72;

o  20 m at 0.97 % Li₂O, 0.12% Sn, and 172 ppm Ta from sample line T36;

o  14 m at 1.33 % Li₂O, 0.17% Sn, and 118 ppm Ta from sample line T71;

o  11 m at 0.93 % Li₂O, 0.17% Sn, and 149 ppm Ta from sample line T24;

o  4 m at 2.44 % Li₂O, 0.07% Sn, and 43 ppm Ta for sample line T76;

· The weighted average of the 20 highest lithium grade sample lines combined provides 200 m at 1.25% Li₂O (composite of Table 1); and

· The Company intends to proceed with the next phase of exploration, including scout drilling, and initial metallurgical test work.

Anthony Viljoen (CEO) commented:

"We are especially excited about these initial exploration results. It confirms our belief that the pegmatites of the ML133 licence could contain significant lithium, tin and tantalum mineralisation. We intend to advance the next stage of our work programme over this area, including exploration drilling and initial metallurgical test work.

Proximity of the test area to the Uis Mine, which is our operating facility with comparable types of mineralisation, presents potential development synergies.

AfriTin's portfolio of operating and exploration assets in Namibia underpins our goal of becoming a major producer of technology metals. We believe the prospectivity of our tenements justify accelerating the exploration and development programmes aimed at realising near-term value for our stakeholders."

Locality

AfriTin's mineral licence ML133 is located approximately 35 km south-east of the Uis Mine (Figure 1). It can be accessed by road from the Uis Mine, and is also connected to the port of Walvis Bay to the south-west. It is the site of the historical Tin Tan Mine which produced tin and tantalum during the late 1980's.

Figure 1 : AfriTin's Uis Mine and mineral licence locality map showing the position of ML133

Exploration Programme

Following an extensive desktop study, an exploration programme was launched over ML133, which included remote sensing to produce regional geological maps using high-resolution (5cm) imagery over the priority target area, followed by detailed on-site mapping of selected areas. Chip samples were taken over selected pegmatites and analysed for lithium, tin, and tantalum. The sample profiles were orientated perpendicular to strike, with each sample being composited over the length of one meter. The pegmatites were chipped with the utilisation of a rock breaker, and the liberated material was then collected in a sample bag until 15-25 kg of material had been obtained. The samples were then processed and analysed for their trace element content by ICP-MS methods at an independent ALS laboratory.

This programme identified numerous pegmatites with notable indications of lithium, tin and tantalum mineralisation. The values in Table 1 represent the average grade over the length of the entire sample line. The weighted average of the sample lines in Table 1 combined (composite of the values) provides 200 m at 1.25% Li2O.

Table 1 : Selected results from the chip sampling programme on mining license ML133. The entire dataset is in Appendix A.

Sample Line	Pegmatite	Length (m)	Li2O (%)	Sn (%)	Ta (ppm)
T24	P51	11	0.93	0.17	149
T27	P45	22	0.78	0.18	53
T29	P45	2	2.89	0.06	24
T31	P43	13	1.05	0.14	65
T36	P63	20	0.97	0.12	172
T39	P68	5	1.20	0.16	60
T62	P246	9	1.56	0.09	48
T68	P154	6	1.37	0.10	163
T70	P155	10	1.20	0.14	54
T71	P158	14	1.33	0.17	118
T72	P163	24	1.65	0.15	52
T73	P163	15	1.21	0.13	53
T74	P163	3	0.86	0.07	136
T75	P186	3	1.14	0.18	85
T76	P188	4	2.44	0.07	43
T77	P193	14	1.24	0.12	38
T78	P193	13	1.93	0.10	36
T79	P197	6	0.81	0.08	111
T83	P229	6	0.85	0.18	119

The exploration programme extracted 704 samples, each representing a one-meter interval along the surface and obtained from the 79 sample lines completed during this programme. The detailed mapping and sampling programme was designed to evaluate the variability of the pegmatite occurrences within the area. The results show that tin, lithium, and tantalum mineralisation occur together in some areas, but separately in others.

The ore minerals for tin and tantalum within the project area appear to be cassiterite and columbite-group minerals respectively. A follow-up site visit was undertaken to those sample areas with enhanced lithium grades. Grab samples taken during this visit indicate that the main lithium bearing mineral is petalite, with lesser occurences of spodumene and lepidolite.

Future Work

Continued geological mapping and sampling is planned for the mineralisation trends within the license area, and an initial focus will be the mapped area north of the historical Tin Tan mine since this zone appears to be preferentially enriched in lithium. These mineralised pegmatites generally strike in a northeast-southwest direction with a near vertical dip. In addition, a scout exploration drilling programme is planned, with the aim to characterise the nature of these intrusions at depth.

In addition, the Company has initiated metallurgical test work on selected mineralised bulk samples from historical mining rock dumps to determine the beneficiation characteristics of the material. The initial test work is designed as pilot scale dense medium separation tests.

The results of the exploration programme and test work will inform the Company's development strategy for ML133.

Competent Person

The technical data in this announcement has been reviewed by Laurence Robb, a Non-Executive Director of AfriTin. Laurence Robb (BScHons, MSc, PhD, FGS, FGSSA, FRSSA) has more than 40 years of industry-related mineral project development experience. He is registered as a Professional Natural Scientist with The South African Council for Natural Scientific Professions, and Chartered Geologist with the Geological Society of London. He was Professor of Economic Geology and Director of the Economic Geology Research Institute in the University of the Witwatersrand's School of Geosciences. He is currently based at Oxford University as a Visiting Professor. He has reviewed the technical disclosures in this release and consents to the release of the information contained herein.

Glossary of abbreviations

ICP-MS	Inductively Coupled Plasma-Mass Spectrometry (Super Trace DL Na2O2)
km	Kilometre
Li	Symbol for Lithium
Li → Li 2 O	Metal to metal-oxide conversion factor of 2.153
Li 2 O	Lithium oxide
m	Metre
PPM	Parts Per Million
Sn	Symbol for Tin
Ta	Symbol for Tantalum

Glossary of Technical Terms

Dense Medium Separation	An ore beneficiation method in which minerals of relatively high or low specific gravity are separated from gangue using a hydrocyclone and a dense medium.
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	[phone]
Anthony Viljoen, CEO
Nominated Adviser	[phone]
WH Ireland Limited Katy Mitchell Andrew de Andrade
Corporate Advisor and Joint Broker
H&P Advisory Limited Andrew Chubb Jay Ashfield Nilesh Patel	[phone]
Stifel Nicolaus Europe Limited Ashton Clanfield Callum Stewart Varun Talwar	[phone]
Tavistock Financial PR (United Kingdom)	[phone]
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.

Appendix A: Results for all the sampling lines, the results represent the average grade of each element over the sampled length of the line.

Sample Line	Pegmatite	Length (m)	Li2O (%)	Sn (%)	Ta (ppm)
T01	P5	5	0.35	0.05	26
T02	P21	24	0.02	0.03	14
T03	P248	1	0.01	0.03	68
T04	P14	38	0.04	0.03	24
T05	P16	14	0.04	0.02	16
T06	P13	2	0.01	0.07	153
T07	Grab Sample	1	0.08	0.54	486
T08	P1	2	0.03	0.08	72
T09	P2	20	0.07	0.23	72
T10	P24	4	0.03	0.03	39
T11	P25	5	0.06	0.12	42
T12	P28	2	0.05	0.04	57
T13	P27	5	0.11	0.05	51
T14	P32	4	0.22	0.26	180
T15	P29	2	0.09	0.04	32
T16	P30	12	0.28	0.16	56
T17	P33	2	0.09	0.18	77
T18	P33	2	0.24	0.28	108
T19	P39	4	0.64	0.24	99
T20	P43	11	0.53	0.16	145
T21	P38	1	0.01	0.21	64
T22	P60	5	0.13	0.20	93
T23	P51	5	0.66	0.10	157
T24	P51	11	0.93	0.17	149
T25	P54	4	0.48	0.11	119
T26	P48	4	0.35	0.27	82
T27	P45	22	0.78	0.18	53
T28	P47	5	0.33	0.15	84
T29	P45	2	2.89	0.06	24
T30	P50	5	0.32	0.04	125
T31	P43	13	1.05	0.14	65
T32	P56	3	0.17	0.48	98
T33	P57	1	0.11	0.24	121
T34	P43	6	0.09	0.08	220
T35	P57	2	0.34	0.10	23
T36	P63	20	0.97	0.12	172
T37	P72	3	0.03	0.02	16
T38	P64	18	0.27	0.04	57
T39	P68	5	1.20	0.16	60
T40	P72	1	0.03	0.02	21
T41	P77	11	0.04	0.03	31
T42	P88	14	0.02	0.15	66
Trench	Pegmatite	Length (m)	Li2O (%)	Sn (%)	Ta (ppm)
T43	P86	1	0.05	0.02	13
T44	P86	1	0.05	0.01	15
T45	P88	9	0.06	0.05	32
T46	P104	3	0.01	0.15	60
T47	P111	12	0.08	0.05	23
T48	P100	9	0.03	0.04	20
T49	P93	7	0.01	0.35	72
T50	P98	5	0.03	0.09	111
T51	P102	13	0.05	0.06	22
T52	P114	23	0.06	0.01	27
T53	P88	20	0.02	0.01	9
T54	P88	32	0.04	0.01	19
T55	P88	22	0.02	0.02	24
T56	P88	4	0.02	0.01	30
T57	P88	3	0.02	0.01	14
T58	P88	30	0.02	0.02	20
T59	P119	1	0.01	0.01	9
T60	P113	15	0.04	0.02	13
T61	P126	3	0.40	0.11	81
T62	P246	9	1.56	0.09	48
T63	P138	2	0.05	0.29	93
T64	P136	2	0.65	0.10	45
T65	P148	5	0.05	0.20	76
T66	P151	10	0.05	0.02	13
T67	P152	8	0.06	0.01	15
T68	P154	6	1.37	0.10	163
T69	P173	3	0.02	0.01	12
T70	P155	10	1.20	0.14	54
T71	P158	14	1.33	0.17	118
T72	P163	24	1.65	0.15	52
T73	P163	15	1.21	0.13	53
T74	P163	3	0.86	0.07	136
T75	P186	3	1.14	0.18	85
T76	P188	4	2.44	0.07	43
T77	P193	14	1.24	0.12	38
T78	P193	13	1.93	0.10	36
T79	P197	6	0.81	0.08	111
T80	P198	5	0.63	0.18	80
T81	P219	6	0.01	0.01	12
T82	P223	4	0.13	0.37	145
T83	P229	6	0.85	0.18	119
T84	P223	1	0.67	0.35	106

 

END

 

 

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