AfriTin Mining Ltd Uis Exploration Drilling Update (6018B)

TIDMATM

RNS Number : 6018B

AfriTin Mining Ltd

10 June 2019

10 June 2019

AfriTin Mining Limited

("AfriTin" or the "Company")

Uis Exploration Drilling Update

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

Highlights

-- Receipt of the second batch of assay results (five holes) from the resource validation drilling;

   --     Significant intersections include; 

o 30.32m @ 0.20% Sn and 91ppm Ta in drill hole V1V2008

o 109.32m @ 0.17% Sn and 77ppm Ta in drill hole V1V2010

o 53.83m @ 0.16% Sn and 73ppm Ta in drill hole V1V20011

In Q4 2018, AfriTin initiated an exploration drilling programme aimed at validating the historic information disclosed by SRK in 1985, for ISCOR, for the V1 and V2 pegmatites. The programme was designed to support the declaration of a maiden, JORC (2012)-compliant, Mineral Resource estimate on the V1 and V2 pegmatites at the Uis Project.

The completion of the validation drilling and initial results of the first five holes were announced on 20 May 2019. The results reported here represent the following five drill holes with subsequent results expected in the near future. The analytical results indicate a continuity of the pegmatite bodies indicated in the previous five holes. The intersections indicate an increase in the thickness of the pegmatites with depth, a trend that is also reflected in the historic drill programme.

In areas where the units are separated into upper, middle and lower the drill hole intercepted a xenolith of country rock which separates the pegmatite body. Sample analysis was undertaken by UIS Analytical Services. The major and minor elements were analysed by ICP-OES and the trace elements were analysed by ICP-MS.

Table 1: Exploration results of holes V1V2007 - V1V2011 of the current drilling campaign, (widths reported indicate apparent intersection widths).

 
 Hole       Dip Angle    Pegmatite   From     To (m)   Width    Grade     Grade       Grade 
  ID         (Degrees)    Unit        (m)               (m)      Sn (%)    Ta (ppm)    Li(2) 
                                                                                       O (%) 
---------  -----------  ----------  -------  -------  -------  --------  ----------  ------- 
 V1V2007    Vertical     V2          56.46    77.07    20.61    0.11      226         0.48 
                         V1 Upper    89.56    99.52    9.96     0.18      93          0.42 
                         V1 Middle   101.59   123.87   22.28    0.18      92          0.48 
                         V1 Lower    127.01   143.26   16.25    0.24      61          0.51 
           -----------  ----------  -------  -------  -------  --------  ----------  ------- 
 V1V2008    Vertical     V1          41.94    72.26    30.32    0.20      91          0.48 
           -----------  ----------  -------  -------  -------  --------  ----------  ------- 
 V1V2009    -80          V2          0.00     8.00     8        0.18      115         0.55 
                         V1          50.61    78.00    27.39    0.13      80          0.49 
           -----------  ----------  -------  -------  -------  --------  ----------  ------- 
 V1V2010    Vertical     V2*         51.26    160.58   109.32   0.17      77          0.97 
           -----------  ----------  -------  -------  -------  --------  ----------  ------- 
 V1V2011    Vertical     V2          0.78     54.61    53.83    0.16      73          0.48 
                         V1          58.51    70.03    11.52    0.23      40          0.50 
           -----------  ----------  -------  -------  -------  --------  ----------  ------- 
 

* The V1 and V2 ore bodies have combined into a single unit

Results received thus far from the current campaign are considered comparable, subject to additional validation work, to those reported by SRK (1985), both in terms of geological validation of the current geological model, and in terms of tin (Sn) grade, with SRK (1985) reporting an average grade of 0.14 % Sn for the V1 and V2 pegmatites.

Anthony Viljoen, CEO of AfriTin Mining Limited commented:

"I am pleased to provide a further update on the confirmatory drilling programme. Of particular interest is a 109m intersection of mineralised pegmatite starting at 51m, indicating the presence of a voluminous ore body extension at depth. While these drilling results are subject to a resource modelling and independent validation process, we are encouraged by these results which remain comparable to the historical data of 1985."

Competent Person Statement:

The technical data in this announcement has been reviewed by Dr Brendan Clarke of CSA Global, who provides geological consulting services to AfriTin. Dr Clarke is Manager - Africa for CSA Global and has 20 years of industry related exploration and mineral project development experience and is a Competent Person for the reporting of Exploration results. He has reviewed both the technical disclosures in this release as well as the quality assurance protocols and results for the assay campaign. Dr Clarke is satisfied that the results of the QAQC on the assay results released to date are sufficient to support the planned estimation of Mineral Resources.

Glossary of abbreviations

 
 Li            Lithium 
 Li(2) O       Lithium oxide 
 Li to Li(2)   Conversion factor of 2.153 
  O 
 ICP-MS        Inductively Coupled Plasma- Mass Spectrometry 
 ICP-OES       Inductively Coupled Plasma- Optical Emissions Spectrometry 
 JORC          The Australasian Code for Reporting of Exploration 
                Results, Mineral Resources and Ore Reserves 
 PPM           Parts Per Million 
 QAQC          Quality Assurance Quality Control 
 Sn            Elemental symbol for Tin 
 Ta            Elemental symbol for Tantalum 
 V1 and        Primary pegmatite resource targets for Exploration 
  V2 
 

For further information, please visit www.afritinmining.com or contact:

 
 AfriTin Limited 
 Anthony Viljoen, CEO                  [phone] 
 Nominated Adviser and Joint Broker 
 WH Ireland Limited 
  Katy Mitchell 
  Adrian Hadden 
  James Sinclair-Ford                  [phone] 
 Corporate Advisor and Joint Broker 
  Hannam & Partners 
  Andrew Chubb 
  Jay Ashfield 
  Nilesh Patel                         [phone] 
 Joint Broker 
 NOVUM Securities Limited 
  Jon Belliss                          [phone] 
 Financial PR (United Kingdom) 
 Tavistock                             [phone] 
 Jos Simson 
  Barney Hayward 
 

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.

About AfriTin Mining Limited

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 an 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 2019, 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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June 10, 2019 02:00 ET (06:00 GMT)