7:54 AM, 14 March 2018
Afritin RNS - Operational Update
AfriTin Mining Ltd
14 March 2018
AfriTin Mining Limited
("AfriTin" or the "Company")
Operational Update - Progress with Ore Body Delineation
AfriTin Mining Limited (AIM: ATM), a mining company with a portfolio of near production tin assets in Namibia and South Africa, with the flagship asset being the Uis Tin Mine in Namibia, is pleased to provide an operational update on its Uis tin mine.
· Completion of detailed geological mapping over the V1 and V2 pegmatites;
· Development of a 3D geological model for mine planning purposes; and
· Confirmation of mineralisation and extensions, throughout the mapped pegmatite bodies.
The Company has undertaken and completed detailed geological mapping over the V1 and V2 pegmatite bodies at Uis in Namibia which were previously identified as priority targets for ore to supply the new, intermediary plant, based upon a historical report produced for Iscor, by SRK in 1985 ("SRK report").
The completed mapping programme confirmed that the V1 Pegmatite has a strike length at surface in excess of 950 metres. The V2 pegmatite was also extensively geologically mapped, revealing that the centre of this mineralised body is much thicker than initial investigations had suggested as well as revealing a possible structural control. The mapping programme also confirmed the presence of mineralisation throughout the unmined surface extensions of the V1 and V2 pegmatite bodies. Both of these aspects related to the extent of the mineralisation along strike and at depth, will be the subject of a more detailed exploration programme once production has commenced.
The information acquired during the mapping expedition, combined with the Digital Elevation Model created from the stereo pair of satellite images, allowed for the creation of a 3-D geological model using Leapfrog software. The 3-D model provides an outline of the V1 and V2 ore bodies extending to a depth of 150 metres - it is emphasised that the level of confidence of the model outline reduces with increasing depth, but indications are that the mineralisation continues past this depth.
The 3-D geological model will be utilised to generate a block model from which a provisional mine production plan will be produced. The results from this programme qualitatively supports the historic 14.6 million tonne resource* in the SRK report for the V1 and V2 pit. The estimated Run of Mine ("ROM") feed to the plant is planned at 500 000 tonnes per year. At this rate the V1 and V2 pit could be the sole supplier of mineralisation to the plant for the first 29 years of production however, it is AfriTin's stated intention to increase this production rate over the life of the mine.
Commenting Anthony Viljoen, CEO of AfriTin Mining, said
"We are very pleased with the results of the geological work recently completed at Uis, as this supports the detailed work that was contained in the historical SRK report that produced a 70 year life of mine plan. We believe the results provide a solid foundation on which AfriTin can base its mining programme, to resume early production at what was once the biggest hard rock tin mine in the world."
*Not JORC Compliant and not prepared for the Company.
Anthony Vijoen (CEO)
+27 (11) 268 6555
Nominated Adviser and Broker
WH Ireland Limited
+44 (0) 207 220 1666
Financial PR (United Kingdom)
Jos Simson / Barney Hayward
+44 (0) 207 920 3150
Financial PR (South Africa)
Cath Drummond / Gabriella von Ille
+27(0)11 268 5781
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 a highly 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 2018 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.
8:00 AM, 14 March 2018