First Tin PLC The assay results at Tellerhauser (6178K)

TIDM1SN

RNS Number : 6178K

First Tin PLC

22 December 2022

The following amendment has been made to the headline of the announcement released

on 22 December 2022 at 7am under RNS No.4874K

The spelling of Tellehauser in the headline has been corrected to Tellerhauser.

All other details remain unchanged.

The full amended text is shown below.

22 December 2022

First Tin Plc

("First Tin" or "the Company")

The assay results from the first two drillholes at Tellerhauser

First Tin Plc ("First Tin"), a tin development company with advanced, low capex projects in Germany and Australia, is pleased to report the assay results from the first two drillholes from the drill programme into the deep Dreiberg mineralisation that was set up with the aim to add indicated to the inferred resources at its Tellerhauser Project in Germany. The project is owned by First Tin's 100% owned German subsidiary, Saxore Bergbau GmbH ("Saxore").

The two drillholes were designed to confirm results of previous drilling by Wismut during the 1970s that intersected high grade tin mineralisation at depth along strike from the known resources at the Tellerhauser project, and to increase the indicated resources.

The two areas tested are at depths of between 800m and 900m below surface and between 3,000m and 4,000m along strike from the Hämmerlein Indicated Resource area and 1,000m to 2,000m along strike from the Dreiberg Indicated Resource area.

The two drillholes intersected the targeted skarn zone and returned the following significant intercepts:

   --    Drillhole SAXDRE25: 

o 1.5m from 805.7m downhole grading 0.75% Sn, 1.00% Zn, 33ppm In including:

-- 0.6m @ 1.43% Sn, 1.99% Zn, 62ppm In from 806.0m downhole

   --    Drillhole SAXDRE34: 

o 3.85m from 887m downhole grading 0.63% Sn, 1.29% Zn, 58ppm In including:

-- 1.35m @ 1.49% Sn, 0.78% Zn, 122ppm In from 887,75m downhole

These intercepts confirm previous Wismut drilling from the 1970s and will form the basis for additional drilling designed to increase the Indicated Resource base at Tellerhäuser.

First Tin CEO Thomas Buenger said, "These initial drilling results from our deep drilling programme have confirmed the previous Wismut drilling and increased our confidence in the deep higher grade mineralisation. We look forward to the results of the next two holes that are expected in January next year."

Enquiries:

 
 First Tin                                 Via SEC Newgate 
                                            below 
 Thomas Buenger - Chief Executive 
  Officer 
 Arlington Group Asset Management 
  Limited (Financial Advisor and Joint 
  Broker) 
 Simon Catt                                020 7389 5016 
 
 WH Ireland Limited (Joint Broker) 
 Harry Ansell                              020 7220 1670 
 
 SEC Newgate (Financial Communications) 
 Elisabeth Cowell / Axaule Shukanayeva 
  / 
  Molly Gretton                            07900 248 213 
 

Notes to Editors

First Tin is an ethical, reliable, and sustainable tin production company led by a team of renowned tin specialists. The Company is focused on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.

Tin is a critical metal, vital in any plan to decarbonise and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future. Its assets have been de-risked significantly, with extensive work undertaken to date.

First Tin's goal is to use best-in-class environmental standards to bring two tin mines into production in three years, providing provenance of supply to support the current global clean energy and technological revolutions.

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December 22, 2022 04:42 ET (09:42 GMT)