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

The 50-hole drilling programme, comprising 29 diamond and 21 reverse circulation (RC) drill holes, aims to increase the confidence of the existing lithium and tantalum mineral resource estimates over the deposit. All 50 drill holes have been completed and are being processed. The results of 25 previous holes were announced on 8 June 2022, 20 July 2022, 10 October 2022 and 22 November 2022. This announcement reports the assay results of the next 5 drill holes (Figure 1). The results of the outstanding 20 drill holes will be provided once received.

Highlights:

• Pegmatite was intersected in all holes at depths and apparent widths predicted by the geological model;
• Significant pegmatite intersections include:
  • 90 m at 0.164% Sn, 73 ppm Ta, and 1.40% Li2O from 134 m to 224 m; and 12 m at 0.159% Sn, 182 ppm Ta, and 0.59% Li2O from 115 m to 127 m for drill hole V1V2062;
  • 96 m at 0.150% Sn, 68 ppm Ta and 0.72% Li2O from 142 m to 238 m for hole V1V2039;
  • 71 m at 0.166% Sn, 81 ppm Ta, and 1.05% Li2O from 157 m to 228 m; and 10 m at 0.091% Sn, 323 ppm Ta and 0.41% Li2O from 139 m to 149 m for drill hole V1V2065;
• These results include some of the drilling programme’s most notable intersections of lithium mineralisation within the pegmatite intersections:
  • 76 m at 1.56% Li2O from 136 m to 212 m for drill hole V1V2062;
  • 26 m at 1.00% Li2O from 180 m to 206 m for drill hole V1V2039; and
  • 25 m at 1.65% Li2O from 193 m to 218 m for drill hole V1V2065.

Anthony Viljoen (CEO) commented:
“These exploration drill results contain the highest average lithium grade for a full pegmatite intersection within the V1/V2 pegmatite ore body to date, namely 90m at an average Li2O content of 1.40%. This intersection includes a continuous portion of 76 m at 1.56% Li2O. The lithium grade of the V1/V2 pegmatite appears to increase with depth, and the Company intends to further explore the down dip potential of this pegmatite. We look forward to the potential upgrade of our mineral resource estimate and advancing our lithium and tantalum product development programmes at Uis.”

News in full

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