AIM-listed tin miner AfriTin Mining has announced a maiden mineral resource for its Uis mine which places its tin inventory as one of the biggest of its kind in the world.
Namibia: The maiden resource - designed to support the historical mineral resource estimate of the V1 and V2 pegmatites - was prepared in accordance with JORC (2012) and totals 71.54 Mt of ore at a grade of 0.134 % tin for 95 539 t of contained tin;
Added to this is an inferred mineral resource estimate of 71.54 Mt of ore at 85 ppm tantalum for 6 091 t contained tantalum (spatially coincident, to the tin mineral resource); and,
An Inferred mineral resource estimate of 71.54 Mt of ore at 0.63 % Lithium Oxide for 450 265 t contained lithium oxide (spatially coincident, to the tin mineral resource).
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Anthony Viljoen, CEO of AfriTin Mining Limited comments:
“Confirming the historical data at Uis has always been a crucial step in the progression and development of our flagship asset. The additional down dip drilling confirmed extension and thickening of the ore body at depth affirming our belief in the scale of this deposit and increasing the resource historically stated by SRK (1989) on the V1/V2 orebody.”
Furthermore, the scale of this resource encourages further development of the additional outcropping pegmatites identified within our mining licence area, of which an excess of 100 pegmatite bodies has been identified.”
The CEO notes that the addition of tantalum and lithium to the estimate, further enhances the attractiveness of this globally significant asset and creates an exciting opportunity for other potential revenue streams.
Assays of the historical resource didn’t typically capture other elements as there were no markets for these by-products at the time. However, with the advent of new technology and the battery metal boom, AfriTin has extended the inventory of potentially extractable metals at Uis to include tantalum and lithium.
“Importantly, today’s results now provide us with the confidence to move our Phase 1 mining operation forward towards a large-scale Phase 2 operation.”