Lithium and Tantalum Infill Drill Programme Update

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 results for the lithium and tantalum infill drilling programme at the Company’s flagship operation, the Uis Mine (“Uis”).

The infill drilling programme is being conducted over the V1/V2 pegmatite at Uis, which is currently being mined to produce a tin concentrate. The 50-hole drilling programme aims to increase the confidence of the existing lithium and tantalum mineral resource estimates over the deposit; 47 drill holes have been completed and are being processed. The results of 9 previous diamond drill (DD) holes were announced on 8 June 2022 and 20 July 2022, and this announcement reports the assay results of the next 11 drill holes, comprising both diamond and reverse circulation (RC) drilling (Figure 1). The results of the outstanding 27 drill holes will be provided when received.

Highlights:

• Significant pegmatite intersections include:
  • 35 m at 0.149% Sn, 77 ppm Ta, and 0.94% Li2O within drill hole V1V2032, from 150 m to 185 m;
  • 25 m at 0.197% Sn, 140 ppm Ta and 0.60% Li2O for hole V1V2076, from 46 m to 71 m;
  • 34 m at 0.186% Sn, 116 ppm Ta, and 0.57% Li2O from 13 m to 48 m; and 0.92m at 5.154% Sn, 582 ppm Ta and 0.32% Li2O from 5 m to 6 m for drill hole V1V2072.
• Pegmatite was intersected in all holes at the depths and apparent widths predicted by the geological model.

Anthony Viljoen (CEO) commented:

“We are pleased to report these exploration drill results which are very much in line with our high expectations. They relate to the north-eastern portion of the V1/V2 pegmatite ore body, which is an area known to contain higher tantalum and tin grades. For the pegmatite intersections reported here, the average tantalum grade is approximately 40% higher than the average of the existing mineral resource estimate (119 ppm vs 85 ppm), and the tin grade is approximately 30% higher than the average of the resource estimate (0.174% vs 0.134%).
The infill drill programme continues to deliver results that we believe confirm the scale and quality of the deposit. We look forward to upgrading our mineral resource estimate and bringing on tantalum and lithium by-product revenue streams alongside our existing tin production.”

News in full

In the interview below, Anthony Viljoen provides an overview of the business and gives a snapshot of the tin market