Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX, “Alphamin” or the “Company”), a producer of 4% of the world’s mined tin1 from its high-grade operation in the Democratic Republic of Congo, is pleased to announce completion of the infill drilling campaign at Mpama South and an updated Mineral Resource Estimate (MRE) for Mpama South.

HIGHLIGHTS

  • Substantially improved the confidence of Mineral Resources at Mpama South whilst extending the known mineralisation boundary.
  • Increased Indicated Resources by 286% to 3.26Mt based on assays from 63 additional infill and extensional drillholes.
  • Mpama South Mineral Resources now stand at:
    • 3.26Mt @ 2.46% Sn for 80.2kt contained tin in the Indicated category; and
  • 2.84Mt @ 2.42% Sn for 68.7kt contained tin in the Inferred category.
  • Significant additional resource growth potential at Mpama South as the deposit still remains open down-dip.
  • Mpama South Mine construction works progressing according to plan – project completion expected to increase Alphamin’s annual contained tin production from the current 12,000tpa to ~20,000tpa, approximating 6.6% of the world’s mined tin1.

Mpama South Updated Mineral Resource Estimate

In just 24 months, Alphamin has:

  • delivered a top-10 globally significant CRIRSCO compliant tin deposit by contained tin1 at Mpama South;
  • grown the resources to ~2.2 times versus the Maiden Mineral Resources and PEA2 numbers;
  • increased resource confidence across the deposit; and
  • commenced mine construction through own cashflows.

This brings forward an additional planned ~7,200tpa contained tin production, which will make Alphamin one of the largest tin producers globally and delivers on the Company strategy of organic growth and creating shareholder value.

The updated Mineral Resource for Mpama South follows eight months after the previous update announced on 31 May 2022. The update is based on receipt of assays for another 63 infill and extensional drillholes completed subsequent to the previous estimate which was based on 124 drillholes. The updated Mineral Resource is presented in Figure 1 along with the direction in which mineralisation is still open down dip and significant high grade periphery drilling intercepts.

The updated MRE now includes results from 187 drillholes at Mpama South as well as 6 drillholes drilled in 2015 in the area between Mpama South and the Mpama North ore body. The MRE was estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines (2019) and is reported in accordance with the 2014 CIM Definition Standards.

Figure 1: Updated Mpama South Mineral Resource 07 February 2023 with selected intercepts and direction in which mineralisation is still open
Source: Alphamin 2022

The Mineral Resource is classified into the Indicated and Inferred categories and is reported at a base case tin cut-off grade of 1.0%, which satisfies reasonable prospects for economic extraction. Mpama South Indicated Resources increased by ~286% to 3.26Mt by converting Inferred Resources, while Inferred Resources grew nominally by ~275kt (excluding those tonnes converted to Indicated). The Mineral Resource Estimate, which is effective as of 07 February 2023, is presented in Table 1 below:

Table 1: Updated Mpama South Mineral Resources effective date 07 February 2023

Classification Tonnes (millions) Sn % Sn Tonnes(thousands)
Indicated3 3.26 2.46 80.2
Inferred4 2.84 2.42 68.7

Mineral Resources that are not Mineral Reserves do not have a demonstrated economic viability and require advanced studies and economic analysis to prove their viability for extraction.

Extensional drilling down-dip and in the shallower northern and southern portions of Mpama South can be conducted at the Company’s election to carry on extending known mineralisation at Mpama South, which is still open in multiple directions. High grade drillholes around the peripheries where mineralisation remains open are highlighted in Figure 1, showing the remaining prospectivity for Resource expansion. However, for 2023, the focus will primarily be aimed at the Mpama South Mine construction and commissioning efforts, while exploration drilling will be curtailed, instead, focusing on further field work campaigns to support future programs.

The MRE has been completed by Mr. J.C. Witley (BSc Hons, MSc (Eng.)) who is a geologist with 34 years’ experience in base and precious metals exploration and mining as well as Mineral Resource evaluation and reporting. He is a Principal Resource Consultant for The MSA Group (an independent consulting company), is registered with the South African Council for Natural Scientific Professions (SACNASP) and is a Fellow of the Geological Society of South Africa (GSSA). Mr. Witley has the appropriate relevant qualifications and experience to be considered a “Qualified Person” for the style and type of mineralisation and activity being undertaken as defined in National Instrument 43-101 Standards of Disclosure of Mineral Projects.

Bisie Ridge Regional Exploration Update

Alphamin intensified exploration drilling on the 13km long Bisie Ridge from Q3 2022 to test highly anomalous soil, geophysical and structural targets identified during 2021. 8,773 metres of the 10,000 metre Phase 1 diamond core programme have been completed along the Ridge, with the remainder due for completion in Q1 2023.

Although anomalous mineralisation has been confirmed in drilling on the Ridge, it is not of the obvious coarse visual cassiterite type frequently seen in drillcore from Mpama North and South.

Only ~25% of assays have been returned from the independent laboratory to date from the Ridge drilling. Assay results when received will support a fuller investigation into the regional setting, along with data from the on-going geophysical downhole surveys, structural investigations and mapping, thereby enabling a refocused exploration programme. Until then, the key focus at site remains the construction and commissioning of the new Mpama South Mine.

Qualified Persons

Mr Jeremy Witley, Pr. Sci. Nat., B.Sc. (Hons.) Mining Geology, M.Sc. (Eng.), is a qualified person (QP) as defined in National Instrument 43-101 and has reviewed and approved the scientific and technical information contained in this news release. He is a Principal Mineral Resource Consultant of The MSA Group (Pty.) Ltd., an independent technical consultant to the Company.

____________________________________________________________________________

FOR MORE INFORMATION, PLEASE CONTACT:

Maritz Smith                                CEO                        Alphamin Resources Corp.                        Tel: +230 269 4166E-mail: msmith@alphaminresources.com____________________________________________________________________________

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Information in this news release that is not a statement of historical fact constitutes forward-looking information. Forward-looking statements contained herein include, without limitation, statements relating to the anticipated future exploration and resource estimation activities and outcomes and the timing thereof and expected increases in tin production from the development of the Mpama South deposit and the cost and timing of such development activities. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Although Alphamin has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to: uncertainty of future exploration and assay results and consistency with past results and expectations; uncertainties related to the technical and economic parameters applied in the Mpama South Preliminary Economic Assessment regarding forecasted tin prices, the tin grade mined and processing recoveries as well as operating costs; uncertainties inherent in estimates of Mineral Resources, global geopolitical and economic uncertainties, volatility of metal prices, uncertainties with respect to social, community and environmental impacts, uninterrupted access to required infrastructure, adverse political events, impacts of the global Covid-19 pandemic as well as those risk factors set out in the Company’s Management Discussion and Analysis and other disclosure documents available under the Company’s profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this news release and Alphamin disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Appendix 1: SAMPLE PREPARATION, ANALYSES AND QUALITY CONTROL AND QUALITY ASSURANCE (QAQC)

For sample preparation, analyses and quality control and quality assurance, see the Company’s news release dated 07 March 2022 entitled “ALPHAMIN ANNOUNCES MAIDEN MINERAL RESOURCE ESTIMATE AND POSITIVE PRELIMINARY ECONOMIC ASSESSMENT FOR MPAMA SOUTH”

Appendix 2: SIGNIFICANT INTERCEPTS (0.5% Sn lower threshold)

Hole Easting Northing RLm Azi (°) Dip (°) From To Sn % Width Sample Position
GPS GPS (m)1 mid_x mid_y mid_z
BGH017 582535 9884822 732 55 -10 237.8 238.8 4.99 1.00 582,732 9,884,966 678.6
BGH018 582535 9884822 732 93 0 141.2 144.4 2.07 3.15 582,691 9,884,820 727.9
145.8 151.0 0.76 5.25 582,696 9,884,820 727.9
BGH019 582535 9884822 732 85 -5 147.0 152.0 2.05 5.00 582,696 9,884,837 715.8
BGH020 582535 9884822 732 84 -15 160.6 164.4 1.45 3.80 582,704 9,884,846 689.3
169.3 171.1 5.42 1.80 582,711 9,884,846 687.7
BGH021 582535 9884822 732 93 -15 109.2 110.3 3.20 1.10 582,654 9,884,821 700.1
164.6 167.3 3.29 2.72 582,708 9,884,818 687.6
BGH022 582554 9884785 732 90 0 75.0 80.5 3.99 5.53 582,633 9,884,784 729.3
109.0 110.0 1.35 1.00 582,664 9,884,785 729.9
119.2 122.1 2.22 2.88 582,676 9,884,785 730.1
BGH023 582535 9884822 732 75 -15 171.4 174.3 1.72 2.89 582,710 9,884,859 683.7
175.9 178.0 1.09 2.15 582,714 9,884,860 683.0
BGH024 582554 9884785 732 103 -5 127.7 129.6 0.54 1.90 582,679 9,884,749 717.2
138.0 142.0 1.13 4.05 582,690 9,884,746 716.2
BGH025 582535 9884822 732 55 -20 212.3 213.4 0.60 1.15 582,724 9,884,919 662.3
218.0 221.5 2.29 3.45 582,731 9,884,921 660.7
222.7 223.7 13.05 1.00 582,734 9,884,923 659.9
228.0 234.8 2.73 6.80 582,741 9,884,926 658.0
BGH026 582554 9884785 732 113 -10 103.7 108.0 3.30 4.29 582,649 9,884,735 713.7
134.8 136.5 3.72 1.65 582,676 9,884,722 708.6
161.0 162.5 5.61 1.50 582,699 9,884,711 704.5
BGH030 582554 9884785 732 115 -20 110.0 111.4 7.24 1.40 582,655 9,884,753 692.2
141.9 152.5 4.85 10.60 582,686 9,884,745 680.0
158.0 161.2 3.61 3.20 582,699 9,884,742 675.3
174.5 175.8 11.03 1.35 582,713 9,884,738 670.5
BGH032 582554 9884785 732 125 -20 177.0 178.7 1.70 1.72 582,692 9,884,684 671.3
182.0 188.3 3.00 6.25 582,697 9,884,679 669.1
190.3 193.0 0.95 2.75 582,702 9,884,676 667.2
194.4 202.0 1.37 7.60 582,707 9,884,672 665.3
203.5 208.0 2.67 4.50 582,713 9,884,668 663.2
BGH034 582554 9884785 732 115 -25 174.8 178.0 11.99 3.20 582,689 9,884,696 653.3
195.7 200.0 1.21 4.30 582,706 9,884,686 644.8
202.4 206.7 1.86 4.28 582,711 9,884,683 642.3
208.0 213.3 1.40 5.30 582,716 9,884,680 640.1
216.3 221.3 1.42 5.05 582,722 9,884,676 637.3
225.7 231.0 0.70 5.35 582,730 9,884,671 634.0
BGH027 582544 9884822 732 68 -27 212.4 214.0 0.58 1.65 582,729 9,884,879 634.0
226.0 229.3 1.32 3.30 582,741 9,884,883 628.4
235.5 236.6 1.54 1.13 582,749 9,884,885 625.2
BGH028 582554 9884785 732 90 -10 125.0 126.0 1.72 1.00 582,676 9,884,772 700.9
136.1 137.2 1.85 1.08 582,687 9,884,770 698.4
140.3 142.0 1.03 1.72 582,691 9,884,770 697.4
147.5 151.3 2.88 3.79 582,699 9,884,769 695.5
BGH029 582544 9884822 732 93 -25 126.0 128.4 4.66 2.35 582,663 9,884,826 678.5
178.9 184.1 1.25 5.15 582,713 9,884,827 657.7
193.7 196.1 3.95 2.35 582,726 9,884,827 653.0
BGH031 582544 9884822 732 75 -25 208.0 211.5 0.99 3.53 582,729 9,884,876 639.9
219.4 222.4 1.16 2.98 582,739 9,884,879 636.0
BGH033 582544 9884822 732 60 -27 259.0 265.5 7.32 6.46 582,756 9,884,929 612.8
268.5 270.5 1.02 1.99 582,762 9,884,931 610.0
BGH035 582554 9884785 732 90 -25 152.0 165.0 2.96 13.00 582,686 9,884,816 665.0
171.0 173.6 1.47 2.60 582,703 9,884,815 657.4
176.6 180.1 2.40 3.48 582,709 9,884,814 654.9
BGH036 582544 9884822 732 65 0 147.5 151.4 2.31 3.90 582,687 9,884,878 724.8
156.6 160.7 0.93 4.02 582,696 9,884,881 724.7
BGH037 582554 9884785 732 105 -30 154.0 157.0 3.81 3.00 582,680 9,884,741 647.5
194.6 197.6 1.54 2.95 582,712 9,884,730 626.0
208.0 211.2 1.29 3.23 582,723 9,884,726 619.3
216.3 220.2 2.79 3.90 582,730 9,884,723 615.1
222.4 226.7 1.77 4.30 582,735 9,884,721 612.1
BGH038 582544 9884822 732 75 -30 151.7 154.6 5.22 2.90 582,677 9,884,851 654.3
218.3 223.7 3.38 5.35 582,735 9,884,861 621.4
226.7 231.5 1.95 4.80 582,743 9,884,862 617.6
BGH039 582554 9884785 732 100 -22 112.1 113.0 2.12 0.92   582,665 9,884,755 687.6
116.3 121.0 3.33 4.65 582,661 9,884,753 686.1
145.0 166.0 2.20 21.00 582,696 9,884,744 674.2
174.5 176.0 0.95 1.50 582,713 9,884,739 668.9
BGH040 582544 9884822 732 60 -30 232.0 233.0 0.95 1.00 582,725 9,884,922 618.2
273.7 277.1 3.79 3.35 582,761 9,884,937 600.0
BGH041 582500 9884847 732 55 -25 340.0 344.5 3.03 4.50 582,807 9,885,002 599.5
BGH042 582544 9884822 732 60 -35 277.4 280.0 1.93 2.65 582,751 9,884,922 569.4
308.5 312.0 0.62 3.50 582,776 9,884,932 552.6
313.0 315.6 1.52 2.55 582,779 9,884,933 550.5
BGH043 582544 9884822 732 100 -10 102.5 104.2 2.69 1.65 582,644 9,884,808 709.0
123.0 124.0 1.06 1.00 582,663 9,884,805 704.8
163.6 167.0 2.82 3.36 582,704 9,884,798 696.7
BGH044 582500 9884847 710 70 -35 330.0 334.1 1.31 4.13 582,764 9,884,941 533.4
BGH045 582544 9884822 732 100 -20 120.7 121.8 31.55 1.10 582,656 9,884,806 687.4
156.0 159.4 0.56 3.40 582,689 9,884,799 674.7
176.7 183.6 3.24 6.92 582,708 9,884,795 668.1
BGH046 582544 9884822 732 100 -30 195.2 206.0 2.85 10.82 582,712 9,884,795 630.5
212.5 215.2 1.90 2.65 582,723 9,884,793 623.7
218.0 220.6 7.16 2.60 582,728 9,884,792 620.8
225.0 226.0 4.36 1.00 582,733 9,884,791 617.7
BGH047 582565 9884535 718 60 0 121.6 124.6 0.91 2.99 582,653 9,884,879 739.2
147.1 148.1 1.28 1.00 582,675 9,884,889 741.1
BGH048 582567 9884509 727 90 0 140.8 143.1 0.90 2.30 582,708 9,884,496 727.7
146.5 148.0 0.74 1.47 582,713 9,884,495 728.0
BGH049 582565 9884535 718 65 -15 145.4 147.4 4.27 2.00 582,689 9,884,599 674.5
BGH050 582567 9884509 727 105 -5 160.0 161.4 1.06 1.38 582,722 9,884,469 711.7
BGH051 582565 9884535 718 40 0 134.8 137.0 2.23 2.20 582,662 9,884,630 712.3
151.0 156.3 1.20 5.30 582,675 9,884,642 711.4
164.2 169.5 3.95 5.27 582,685 9,884,651 710.8
171.3 172.6 4.08 1.30 582,688 9,884,655 710.6
BGH052 582567 9884509 727 120 0 205.9 207.1 1.86 1.20 582,732 9,884,385 722.9
BGH053 582565 9884535 718 40 -15 173.7 176.9 9.58 3.20 582,685 9,884,653 669.2
178.6 181.4 4.07 2.88 582,688 9,884,656 667.9
192.4 196.9 3.28 4.45 582,698 9,884,666 664.0
198.9 206.8 2.45 7.91 582,704 9,884,671 661.8
207.5 209.5 5.04 1.97 582,708 9,884,675 660.3
214.7 216.0 2.32 1.35 582,713 9,884,680 658.6
BGH054 No significant intercepts
BGH055 582565 9884535 718 80 -15 145.0 146.0 0.62 1.00 582,705 9,884,549 682.7
BGH056 No significant intercepts
BGH057 No significant intercepts
BGH058 582565 9884510 727 95 -5 153.4 155.6 1.98 2.25 582,717 9,884,501 703.9
BGH059 582567 9884536 718 95 0 165.0 166.0 3.63 1.00 582,732 9,884,528 714.4
BGH060 No significant intercepts
BGH061 582567 9884536 727 130 -10 157.6 159.2 1.22 1.62 582,719 9,884,525 677.7
BGH062 582567 9884537 718 95 -15 154.0 156.0 2.18 2.00 582,695 9,884,589 650.2
BGH063 582782 9884646 829 270 -70 186.3 194.4 0.82 8.12 582,719 9,884,661 650.5
197.4 202.5 1.12 5.03 582,715 9,884,661 641.8
205.0 209.1 0.83 4.05 582,712 9,884,661 635.4
211.1 218.9 2.06 7.77 582,709 9,884,661 628.3
220.4 222.6 0.86 2.15 582,706 9,884,661 622.5
231.0 233.0 0.87 2.00 582,701 9,884,661 613.0
BGH064 582888 9884976 839 270 -50 220.8 222.6 0.63 1.80 582,746 9,884,976 668.9
BGH065 582913 9885057 819 270 -60 271.0 276.0 2.93 4.95 582,769 9,885,057 586.1
291.6 292.6 1.70 1.00 582,759 9,885,057 570.9
BGH066 582888 9884976 839 270 -60 276.0 278.6 8.49 2.59 582,754 9,884,965 596.1
300.0 301.0 1.78 1.00 582,742 9,884,965 576.6
BGH067 582913 9885057 819 270 -67 295.8 300.5 3.21 4.72 582,789 9,885,065 548.1
303.0 304.6 1.56 1.62 582,786 9,885,065 543.1
337.0 338.0 0.55 1.00 582,769 9,885,068 514.3
BGH068 582913 9885057 819 270 -50 247.0 248.2 2.10 1.20 582,749 9,885,051 633.1
251.8 255.1 1.75 3.30 582,745 9,885,051 628.8
BGH069 582888 9884976 839 270 -70 321.8 324.7 3.84 2.93 582,779 9,884,962 534.7
BGH070 582913 9885057 819 270 -73 331.0 336.4 3.00 5.35 582,802 9,885,040 505.2
BGH071 No significant intercepts
BGH072 582852 9884845 831 270 -67 274.6 279.7 2.70 5.10 582,749 9,884,847 574.0
290.4 294.8 3.61 4.40 582,742 9,884,847 560.0
BGH073 582731 9884691 838 280 -60 121.0 123.0 0.72 2.00 582,671 9,884,702 731.9
BGH074 582944 9885130 798 270 -67 278.9 283.9 2.85 5.03 582,810 9,885,137 551.2
285.5 289.1 1.60 3.61 582,807 9,885,138 546.3
294.5 297.3 7.14 2.79 582,802 9,885,139 539.1
299.7 303.3 0.53 3.69 582,799 9,885,139 534.5
BGH075 582731 9884691 838 270 -70 115.4 116.7 6.76 1.25 582,690 9,884,690 729.4
119.5 120.8 15.22 1.30 582,688 9,884,690 725.7
125.1 129.8 3.56 4.71 582,684 9,884,690 719.3
162.6 164.6 8.94 2.08 582,667 9,884,689 687.8
BGH076 582752 9884801 849 300   -40 108.0 109.0 0.84 1.00 582,682 9,884,844 779.6
118.8 119.5 3.71 0.65 582,675 9,884,848 772.7
128.2 131.0 2.82 2.85 582,668 9,884,852 765.8
136.7 137.0 0.97 0.30 582,663 9,884,855 761.0
BGH077 582944 9885130 798 270 -72 316.8 321.2 2.57 4.36 582,830 9,885,130 501.7
323.0 328.4 2.56 5.36 582,827 9,885,130 495.8
329.1 330.1 0.52 1.07 582,825 9,885,130 492.4
335.3 337.4 9.63 2.11 582,822 9,885,130 486.5
339.8 340.1 7.07 0.30 582,820 9,885,131 483.4
BGH078 582752 9884801 849 280  -40 102.0 106.0 1.88 4.00 582,674 9,884,816 782.6
108.0 109.0 0.62 1.00 582,671 9,884,817 779.7
115.0 117.2 0.80 2.15 582,665 9,884,818 774.8
BGH079 582852 9884845 831 270  -73 290.2 294.4 1.00 4.25 582,765 9,884,842 552.6
296.3 302.3 9.46 6.00 582,763 9,884,841 546.1
304.8 305.7 18.75 0.89 582,761 9,884,841 540.5
312.0 313.0 1.08 1.00 582,758 9,884,841 533.8
316.9 321.6 4.65 4.73 582,755 9,884,840 527.5
322.6 328.0 5.41 5.43 582,753 9,884,840 522.0
329.0 329.5 1.59 0.53 582,751 9,884,840 518.4
340.7 341.4 4.29 0.74 582,747 9,884,839 507.6
BGH080 582944 9885130 798 270 -75 339.9 343.6 1.05 3.70 582,853 9,885,141 469.2
345.0 346.6 4.11 1.55 582,851 9,885,141 465.5
360.7 361.0 11.95 0.30 582,846 9,885,143 451.5
BGH081a 583022 9885299 776 270 -50 269.0 274.6 1.99 5.56 582,838 9,885,306 578.6
275.6 275.9 0.64 0.30 582,835 9,885,307 576.0
BGH082a 583013 9885209 752 270 -50 263.8 266.3 3.43 2.47 582,836 9,885,222 556.0
268.4 269.2 3.32 0.80 582,833 9,885,223 553.5
277.0 277.3 15.65 0.30 582,827 9,885,224 547.9
BGH083 No significant intercepts
BGH084 583023 9885299 776 270 -57 279.0 280.9 6.25 1.95 582,857 9,885,307 552.8
283.1 286.3 1.28 3.25 582,854 9,885,307 549.2
BGH085 583023 9885299 776 270 -65 294.7 298.4 0.83 3.70 582,890 9,885,304 512.9
BGH086 583013 9885208 752 270 -57 275.4 280.8 3.07 5.43 582,847 9,885,214 530.1
286.1 286.5 18.90 0.46 582,841 9,885,215 524.4
BGH087 583023 9885299 777 270 -75 263.8 264.3 0.59 0.53 582,946 9,885,305 525.0
BGH088 583012 9885208 752 270 -67 297.7 299.5 11.93 1.72 582,876 9,885,221 487.3
301.0 301.8 6.79 0.77 582,875 9,885,221 485.0
303.7 304.0 2.47 0.30 582,873 9,885,222 483.0
305.7 306.0 1.66 0.30 582,872 9,885,222 481.4
307.2 307.6 6.66 0.35 582,871 9,885,223 480.2
308.3 308.9 12.15 0.67 582,871 9,885,223 479.2
309.5 309.8 1.98 0.31 582,870 9,885,223 478.3
310.4 310.7 17.65 0.33 582,869 9,885,223 477.6
313.0 313.9 2.82 0.85 582,868 9,885,224 475.3
324.5 324.9 5.77 0.38 582,861 9,885,226 466.3
325.4 325.8 10.40 0.40 582,861 9,885,226 465.6
BGH089 582951 9885352 779 270 -50 198.0 199.0 4.58 1.00 582,822 9,885,357 628.9
202.7 203.5 12.25 0.80 582,819 9,885,357 625.5
205.1 205.5 7.96 0.44 582,818 9,885,357 623.7
217.5 218.5 31.90 1.00 582,809 9,885,358 614.1
BGH090 582951 9885423 769 270 -50 168.8 170.5 2.45 1.68 582,843 9,885,424 638.3
170.9 171.5 12.55 0.60 582,842 9,885,424 637.1
173.0 173.3 5.05 0.33 582,841 9,885,424 635.6
BGH091 582951 9885352 779 270 -65 222.1 223.5 4.02 1.40 582,850 9,885,358 581.3
BGH092 583021 9885430 752 270 -55 193.5 193.9 17.15 0.38 582,913 9,885,431 591.9
BGH093 583013 9885345 759 270 -70 224.3 224.8 4.06 0.50 582,932 9,885,341 549.9
225.8 226.7 1.81 0.92 582,931 9,885,341 548.3
227.7 228.3 2.75 0.60 582,930 9,885,341 546.7
BGH094 582990 9885055 810 270 -65 381.0 384.8 3.84 3.81 582,808 9,885,054 473.5
389.7 390.3 5.95 0.51 582,805 9,885,054 467.4
408.5 411.0 5.82 2.55 582,795 9,885,054 450.4
BGH095 582960 9884759 831 270 -60 391.6 399.6 4.56 8.03 582,773 9,884,762 482.7
400.0 401.0 1.85 1.00 582,770 9,884,761 478.6
405.0 412.0 4.47 6.97 582,766 9,884,761 471.9
414.0 414.3 1.36 0.30 582,763 9,884,761 467.2
BGH096 No significant intercepts
BGH097 583013 9885345 759 270 -58 242.0 245.5 1.10 3.50 582,879 9,885,344 555.7
247.0 250.1 2.66 3.10 582,876 9,885,344 551.8
BGH099 No significant intercepts
BGH100 583013 9885345 759 270 -79 226.8 231.3 2.09 4.51 582,965 9,885,347 535.2
233.1 235.0 1.58 1.92 582,964 9,885,347 530.3
BGH101 582990 9884975 813 270 -65 387.4 388.6 2.66 1.25 582,802 9,884,968 474.7
392.3 394.7 1.49 2.35 582,799 9,884,968 470.1
396.0 398.2 0.53 2.24 582,797 9,884,968 467.1
402.7 410.2 3.68 7.46 582,792 9,884,967 459.3
423.6 425.5 13.48 1.84 582,781 9,884,967 444.5
BGH102 No significant intercepts
BGH103 582951 9885423 767 270 -64 161.9 167.0 1.71 5.17 582,882 9,885,425 618.5
167.8 172.1 1.11 4.29 582,880 9,885,425 613.4
173.4 177.0 1.71 3.65 582,877 9,885,425 608.7
BGH104 582985 9885054 811 270 -72 459.4 463.0 10.19 3.65 582,829 9,885,047 378.1
464.8 465.1 8.35 0.30 582,827 9,885,047 374.8
471.4 475.5 1.72 4.15 582,823 9,885,046 367.3
477.6 478.0 0.96 0.42 582,821 9,885,046 363.5
485.9 486.2 2.12 0.37 582,817 9,885,045 356.3
BGH105 582963 9884842 834 270 -70 406.5 407.0 0.98 0.48 582,807 9,884,837 458.9
410.2 413.0 1.20 2.80 582,805 9,884,836 454.6
416.9 421.4 1.66 4.45 582,802 9,884,836 447.9
421.8 425.0 4.33 3.21 582,800 9,884,836 444.1
427.7 431.3 0.80 3.55 582,797 9,884,836 438.7
434.6 437.4 1.11 2.77 582,794 9,884,835 433.0
442.3 442.6 1.98 0.30 582,791 9,884,835 427.3
446.0 446.3 1.24 0.30 582,789 9,884,834 424.1
453.7 454.0 0.62 0.30 582,785 9,884,834 417.4
457.8 459.9 5.03 2.17 582,783 9,884,833 413.0
461.7 462.6 0.91 0.93 582,781 9,884,833 410.2
BGH106 No significant intercepts
BGH107 582991 9884982 814 270 -75 496.9 502.2 8.21 5.21 582,826 9,884,984 343.4
BGH108 582963 9884905 828 270 -62 377.2 377.5 11.95 0.31 582,786 9,884,895 495.2
381.5 381.8 7.40 0.30 582,784 9,884,895 491.5
385.3 387.5 4.50 2.20 582,781 9,884,895 487.6
391.0 395.0 2.09 3.96 582,777 9,884,894 482.1
401.0 402.0 1.44 1.00 582,773 9,884,894 475.1
405.3 409.4 2.40 4.05 582,769 9,884,893 470.3
BGH109 No significant intercepts
BGH110 582963 9884905 828 270 -73 459.2 467.4 1.00 8.14 582,799 9,884,879 397.0
468.1 476.7 10.35 8.58 582,795 9,884,878 389.2
485.5 486.2 10.30 0.70 582,788 9,884,876 377.8
489.8 490.9 2.01 1.12 582,786 9,884,875 374.0
BGH111 582959 9884759 831 270 -55 334.4 341.3 4.24 6.89 582,768 9,884,745 553.1
342.4 350.0 4.92 7.65 582,762 9,884,745 547.0
352.5 357.3 0.67 4.75 582,756 9,884,744 540.6
358.3 361.3 0.63 3.03 582,753 9,884,744 537.0
362.7 367.2 0.58 4.50 582,749 9,884,744 533.3
368.0 370.2 3.15 2.16 582,746 9,884,743 530.4
BGH112 582870 9885354 790 270 -55 130.3 130.6 2.32 0.30 582,797 9,885,360 681.8
135.3 135.7 5.69 0.44 582,794 9,885,360 677.7
BGH113 582910 9885205 780 270 -62 213.0 216.6 0.94 3.60 582,810 9,885,204 590.1
229.0 230.0 4.49 1.00 582,803 9,885,204 577.3
BGH114 582870 9885354 790 270 -63 138.5 138.9 4.40 0.36 582,807 9,885,358 666.2
143.3 143.6 6.84 0.30 582,805 9,885,358 662.1
147.0 147.6 3.83 0.65 582,803 9,885,358 658.8
151.5 151.8 0.82 0.30 582,801 9,885,358 655.0
BGH115 No significant intercepts
BGH116 582886 9884671 818 270 -58 285.4 292.0 3.51 6.63 582,727 9,884,661 577.7
292.5 294.0 1.04 1.54 582,724 9,884,660 574.2
BGH117 No significant intercepts
BGH118 582842 9885430 769 270 -60 95.0 95.9 2.05 0.90 582,795 9,885,430 686.6
100.6 100.9 0.95 0.30 582,792 9,885,430 682.1
BGH119 582842 9885430 769 270 -75 103.0 105.0 2.33 2.00 582,814 9,885,431 669.5
BGH120 582886 9884671 818 270 -70 323.0 327.4 0.98 4.41 582,746 9,884,662 528.2
330.3 334.4 1.92 4.14 582,741 9,884,662 522.6
BGH121 No significant intercepts
BGH122 582853 9885112 780 275 -65 153.4 157.5 1.50 4.09 582,786 9,885,123 640.6
158.1 161.9 1.26 3.81 582,784 9,885,123 636.5
162.8 165.0 1.66 2.25 582,783 9,885,123 633.1
BGH123 582960 9884759 831 270 -70 432.0 437.1 1.96 5.05 582,789 9,884,746 432.8
438.5 438.8 1.20 0.30 582,787 9,884,746 429.3
BGH124 No significant intercepts
BGH125 No significant intercepts
BGH126b 582842 9885204 800 270 -65 150.8 151.6 1.26 0.76 582,785 9,885,211 659.7
164.0 164.3 1.23 0.3 582,780 9,885,212 647.8
BGH127 582854 9885112 781 275 -50 145.0 145.3 1.44 0.3 582,760 9,885,121 669.8
155.3 158.0 0.62 2.75 582,753 9,885,121 661.1
BGH128 583076 9885130 758 270 -68 400.8 407.3 4.47 6.51 582,904 9,885,137 393.4
408.8 410.4 0.72 1.55 582,901 9,885,138 388.9
412.6 416.0 1.11 3.4 582,899 9,885,138 385.1
BGH129 582912 9885391 786 270 -60 175.6 178.5 1.64 2.93 582,826 9,885,391 631.3
181.1 181.4 0.95 0.3 582,824 9,885,391 627.6
BGH130 582824 9885062 788 265 -50 126.3 127.0 1.33 0.68 582,740 9,885,062 693.0
133.0 134.0 0.91 1 582,736 9,885,062 687.9
139.2 139.6 5.43 0.4 582,732 9,885,062 683.5
BGH131 582931 9885285 801 270 -53 196.9 200.6 0.71 3.7 582,805 9,885,289 647.4
210.0 210.3 0.9 0.3 582,797 9,885,289 638.9
BGH132 582912 9885391 786 270 -50 169.0 172.7 1.46 3.74 582,806 9,885,388 652.1
175.8 176.2 1.6 0.4 582,802 9,885,388 648.1
BGH133 582851 9885511 764 270 -60 49.6 50.3 2.54 0.68 582,825 9,885,513 720.8
53.6 53.8 2.38 0.22 582,823 9,885,514 717.5
BGH134 No significant intercepts
BGH135 582836 9885387 775 270 -50 82.0 82.9 0.63 0.89 582,785 9,885,387 710
92.7 93.0 1.44 0.3 582,778 9,885,387 702
104.0 105.0 0.67 1 582,771 9,885,387 693
BGH136 582852 9885467 759 270 -58 65.1 66.0 1.32 0.86 582,817 9,885,467 704
69.8 72.3 0.69 2.55 582,815 9,885,467 699
75.7 79.1 1 3.41 582,811 9,885,467 694
BGH137 582931 9885285 801 270 -62 224.4 230.6 1.41 6.2 582,830 9,885,285 598
BGH138 582836 9885387 775 270 -65 97.4 97.7 2.3 0.3 582,795 9,885,387 687
BGH139 582951 9885468 748 270 -59 123.9 127.6 0.98 3.77 582,886 9,885,472 641
BGH140 582987 9885256 783 270 -50 249.5 253.6 1.26 4.05 582,831 9,885,266 586
BGH141 582912 9885164 783 270 -50 174.6 179.3 1.29 4.72 582,802 9,885,170 645
BGH142 582912 9885016 826 270 -50 230.4 235.8 1.29 5.39 582,766 9,885,018 645
236.7 238.3 1.98 1.58 582,763 9,885,018 641
BGH143 582912 9885164 783 270 -60 210.8 215.8 0.86 5.04 582,803 9,885,172 600
225.3 225.7 2.06 0.35 582,796 9,885,173 590
BGH144a 582987 9885255 783 270 -60 264.6 266.8 2.17 1.85 582,857 9,885,263 552
269.1 269.4 0.3 3.1 582,855 9,885,264 549
BGH145 582912 9885016 826 270 -60 265.5 271.0 2.59 5.48 582,786 9,885,013 589
271.4 272.8 1.17 1.37 582,784 9,885,013 586
282.2 282.5 16.25 0.3 582,779 9,885,013 577
BGH146 No significant intercepts
BGH147 No significant intercepts
BGH148 No significant intercepts
BGH149 582954 9884799 834 270 -55 335.4 337.2 2.1 1.75 582,761 9,884,799 559
342.0 346.0 4.45 4 582,757 9,884,799 553
347.7 350.7 2.43 3.07 582,754 9,884,799 548
352.3 352.8 5.12 0.51 582,752 9,884,799 546
362.5 363.0 0.57 0.5 582,746 9,884,799 537
BGH150 No significant intercepts
BGH151 No significant intercepts
BGH152D1 582821 9884623 805 269 -72 257.0 259.9 2.01 2.85 582,731 9,884,621 564
263.0 263.3 9.06 0.3 582,729 9,884,621 559
BGH153 582953 9884875 834 270 -55 327.5 330.6 1.6 3.14 582,766 9,884,880 563
333.4 336.5 2.62 3.06 582,763 9,884,880 559
342.4 345.7 1.63 3.29 582,757 9,884,881 551
347.0 349.7 0.57 2.68 582,755 9,884,881 548
367.8 368.7 4.4 0.91 582,743 9,884,881 532
BGH154 No significant intercepts
BGH155 No significant intercepts
BGH156 582988 9885258 789 270 -68 289.2 289.8 2.57 0.65 582,875 9,885,264 523
296.6 296.9 0.77 0.3 582,872 9,885,265 516
BGH157 No significant intercepts
BGH158 582802 9885086 788 270 -47 105.4 107.2 0.68 1.75 582,740 9,885,087 701
113.0 117.0 0.85 4 582,735 9,885,087 694
120.0 120.8 0.61 0.75 582,732 9,885,087 690
BGH159 582975 9884940 822 270 -72 436.4 437.7 3.66 1.33 582,819 9,884,932 415
448.0 449.0 0.62 1 582,814 9,884,932 405
457.2 457.6 1.28 0.4 582,810 9,884,933 397
BGH160 582903 9885087 806 270 -50 219.1 219.5 1.12 0.38 582,755 9,885,090 645
221.6 222.0 1.29 0.49 582,753 9,885,090 643
226.7 230.0 0.74 3.3 582,749 9,885,090 638
233.6 233.9 2.71 0.25 582,745 9,885,090 635
BGH161 No significant intercepts
BGH162 582851 9885512 764 270 -74 59.0 59.6 6.57 0.56 582,835 9,885,512 707
BGH163 583009 9885093 799 270 -70 409.7 417.1 3.37 7.36 582,868 9,885,098 411
420.7 422.1 0.55 1.42 582,865 9,885,098 403
423.8 429.0 0.74 5.24 582,863 9,885,099 399
429.6 429.9 1.96 0.3 582,862 9,885,099 396
432.0 433.0 0.59 1 582,860 9,885,099 393
BGH164 582776 9884574 797 270 -70 171.0 172.0 0.72 1 582,709 9,884,571 639
176.0 180.0 0.76 4 582,707 9,884,570 633
BGH165 582903 9885087 806 270 -60 242.9 247.2 2.41 4.27 582,771 9,885,083 600
248.4 250.0 2.14 1.61 582,769 9,885,083 597
BGH166 582823 9884623 806 270 -60 208.9 209.7 1.06 0.75 582,720 9,884,623 623
214.2 218.1 0.52 3.9 582,717 9,884,623 618
221.0 222.3 2.96 1.26 582,714 9,884,623 613
BGH167 582975 9885388 767 270 -53 195.7 200.5 1.85 4.86 582,856 9,885,388 609
BGH168 582982 9885169 770 270 -50 252.6 257.3 1.93 4.69 582,832 9,885,192 565
263.4 263.6 19.4 0.25 582,827 9,885,193 558
BGH169a 582823 9884616 794 270 -79 301.0 301.8 1.06 0.75 582,745 9,884,613 503
BGH170 583009 9885093 799 270 -60 365.0 370.1 2.5 5.1 582,830 9,885,095 478
371.9 376.0 2.16 4.15 582,827 9,885,095 473
376.9 377.1 3.94 0.25 582,825 9,885,095 470
388.9 390.0 1.13 1.1 582,819 9,885,096 459
BGH171 582982 9885169 770 270 -62 275.5 278.0 1.4 2.52 582,847 9,885,185 529
285.5 289.4 0.63 3.9 582,841 9,885,186 520
291.9 292.2 16.5 0.3 582,838 9,885,187 517
BGH172 No significant intercepts
BGH173 582982 9885167 766 270 -70 319.6 322.4 5.18 2.8 582,873 9,885,176 464
325.7 330.0 4.66 4.28 582,871 9,885,177 458
330.9 336.6 2.24 5.69 582,869 9,885,177 452
BGH174 583010 9885093 799 270 -50 363.5 366.0 0.81 2.5 582,791 9,885,091 507
BGH175 582976 9885388 767 270 -71 187.8 192.3 2.15 4.5 582,916 9,885,392 587
193.9 197.3 3.33 3.4 582,914 9,885,392 582
199.4 199.9 0.61 0.55 582,913 9,885,392 578
203.7 204.8 2.36 1.12 582,912 9,885,392 573
BGH176 582993 9884984 814 270 -78 512.7 516.2 1.1 3.46 582,849 9,884,970 321
518.0 522.3 2.44 4.25 582,847 9,884,970 315
525.5 528.0 1.64 2.55 582,845 9,884,969 309
BGH177 582958 9884766 831 253 -63 405.6 409.2 1.09 3.56 582,774 9,884,706 473
412.6 414.9 1.79 2.32 582,771 9,884,705 467
421.4 421.7 4.39 0.24 582,767 9,884,704 461
BGH178 No significant intercepts
BGH179 582959 9884769 831 248 -70 489.6 491.2 1.11 1.6 582,798 9,884,701 373
BGH180b 582774 9884571 794 270 -77 213.1 215.9 0.91 2.85 582,722 9,884,571 582
217.5 222.6 1.58 5.11 582,720 9,884,571 576
224.1 224.3 0.89 0.25 582,719 9,884,571 573
BGH181 582955 9884806 837 270 -63 369.5 372.5 1.41 3.02 582,778 9,884,809 511
377.3 379.5 8.38 2.21 582,774 9,884,809 505
385.4 385.7 1.2 0.3 582,770 9,884,809 499
BGH182 582953 9884875 835 270 -65 393.0 395.2 4.08 2.22 582,794 9,884,872 474
403.4 408.2 4.66 4.81 582,789 9,884,872 464
416.2 416.5 0.63 0.34 582,785 9,884,872 454
424.9 425.5 1.83 0.61 582,781 9,884,872 446
439.5 439.7 24.6 0.25 582,775 9,884,872 433
446.8 449.0 0.95 2.17 582,771 9,884,872 426
BGH183 582844 9884709 843 270 -71 285.7 289.0 0.83 3.33 582,749 9,884,711 572
290.0 293.5 2.69 3.54 582,747 9,884,711 568
296.0 296.7 1.08 0.7 582,746 9,884,711 564
299.3 303.4 4.67 4.14 582,744 9,884,711 559
305.5 306.1 5.89 0.65 582,742 9,884,711 555
309.8 313.2 2.99 3.44 582,740 9,884,711 550
314.1 318.0 1.52 3.9 582,738 9,884,711 546
322.0 323.9 0.86 1.86 582,736 9,884,711 539
BGH184 582957 9884767 834 270 -52 321.4 324.9 2.1 3.42 582,758 9,884,761 579
327.3 329.1 5.9 1.87 582,755 9,884,760 575
331.5 333.5 3.08 2.05 582,752 9,884,760 572
337.0 339.0 0.67 2 582,748 9,884,760 568
340.6 342.5 0.53 1.96 582,746 9,884,759 565
345.6 350.0 10.66 4.4 582,742 9,884,759 561
352.0 355.8 0.57 3.8 582,738 9,884,758 556
356.5 356.7 1.96 0.24 582,736 9,884,758 554
BGH185 582849 9884706 842 270 -75 326.4 331.8 1.95 5.31 582,760 9,884,706 525
332.8 335.6 1.99 2.83 582,758 9,884,706 521
339.7 342.0 0.73 2.3 582,756 9,884,706 514
345.1 345.4 1.66 0.26 582,754 9,884,706 510
BGH186 582953 9884802 834 270 -71 410.9 423.5 3.94 12.58 582,799 9,884,799 447
424.0 427.0 0.61 3 582,795 9,884,799 440
433.4 435.5 2.75 2.1 582,791 9,884,799 432
441.1 448.5 4.84 7.35 582,786 9,884,798 423
449.0 452.4 3.4 3.35 582,784 9,884,798 417
BGH187 582991 9884982 814 278 -61 365.7 368.4 1.65 2.73 582,808 9,885,001 496
372.5 373.0 1 0.51 582,805 9,885,001 491
375.6 376.0 0.75 0.45 582,804 9,885,002 489
381.9 385.4 7.44 3.5 582,800 9,885,002 482
387.9 391.0 2.4 3.12 582,797 9,885,002 477
394.2 394.5 2.38 0.25 582,794 9,885,002 473
409.6 410.0 25.3 0.4 582,786 9,885,003 460
BGH188 582991 9884982 814 284 -67 Independent assays still outstanding

Appendix 3: Checklist of Assessment and Reporting Criteria

Drilling techniques All drillholes were diamond drill cored and drilled from surface (most intersections drilled using NQ size), holes drilled orientated in an east-west direction were angled between -60° and -70°. Holes collared in the west were drilled out in fan patterns into the side of a hill and angled between 0° and minus 35°.
Logging All of the drillholes were geologically logged by qualified geologists. The logging is of an appropriate standard for grade estimation.
Drill sample recovery Core recovery in the mineralised zones was observed to be very good and is on average 97%.
Sampling methods Half core samples were collected continuously through the mineralised zones after being cut longitudinally in half using a diamond saw. Drillhole samples were taken at nominal 1 m intervals, which were adjusted to smaller intervals in order to target the cassiterite vein zones. Lithological contacts were honoured during the sampling. MSA’s observations indicated that the routine sampling was performed to a reasonable standard and is suitable for evaluation purposes.
Quality of assay data and laboratory tests At the on-site ABM laboratory (managed by Anchem), samples were first checked off against the submission list supplied and then weighed and oven dried for 2 hours at 105 degrees Celsius. The dried samples were crushed by jaw crusher to 75% passing 2mm, from which a 250g riffle split was taken. This 250g split was pulverised in ring mills to 90% passing 75μm from which a sample for analysis was taken. Samples were homogenised using a corner-to-corner methodology and two samples were taken from each pulp, one of 10g for on-site laboratory assaying and another 150g sample for export and independent accredited 3rd party laboratory assaying.Received samples at ALS Johannesburg are checked off against the list of samples supplied and logged in the system. Quality Control is performed by way of sieve tests every 50 samples and should a sample fail, the preceding 50 samples are ground in a ring mill pulveriser using a carbon steel ring set to 85 % passing 75μm. Samples are analysed for tin using method code ME-XRF05 conducted on a pressed pellet with 10% precision and an upper limit of 5,000ppm. The over-limit tin samples are analysed as fused disks according to method ME-XRF15c, which makes use of pre-oxidation and decomposition by fusion with 12:22 lithium borate flux containing 20% Sodium Nitrate as an oxidizing agent, with an upper detection limit of 79% Sn.Prior to the 2021 drilling the assays were also conducted at ALS Global in Johannesburg where samples were analysed for tin using fused disc ME-XRF05 with 10% precision and an upper limit of 10 000 ppm. This was reduced to 5,000 ppm from 2014 onwards. Over limit samples were sent to Vancouver for ME-XRF10 which uses a Lithium Borate 50:50 flux with an upper detection limit of 60% and precision of 5%. ME-ICP61, HF, HNO3, HCL04 and HCL leach with ICP-AES finish was used for 33 elements including base metals. ME-OG62, a four-acid digestion, was used on high grade samples for Pb, Zn, Cu & Ag. External quality assurance of the laboratory assays for the Alphamin samples was monitored. Blank samples (299), certified reference materials (434) and duplicate samples (357) were inserted with the field samples accounting for approximately 11% of the total sample set.The QAQC measures used by Alphamin revealed the following:
  • Blank samples indicated that no significant contamination occurred overall. Low levels of contamination (mostly <200 ppm Sn) mostly occurred, however 12 values between 229 ppm and 1,285 ppm were returned. Given the high grades at Bisie, the levels of contamination are not significant.
  • Five different CRMs were used with expected values between 0.18% and 31.42% Sn. The lower grade CRMs were prepared by Ore Research and Exploration (OREAS) and the two high grade CRMs (4.19% and 31.42% Sn) by the Bureau of Analysed Samples Ltd (BCS). In general, ALS returned values within the tolerance limits (three standard deviations) for the OREAS CRMs, although slightly lower than the expected values. Assays of the highest grade BCS CRM were mostly outside of the three standard deviation limits but within ±4%of the expected value. The update assays of the high grade BCS-355 CRM were within ±2% of the expected value with an overall low bias relative to the CRM expected value. For the 5.07% Sn BCS CRM, assays were consistently lower than the expected value by as much as 7%. This trend continued for the update assays with an average under-assay of 5% relative to the CRM expected value. Overall, the CRMs results indicate a slight negative bias for the ALS assays.
  • Coarse duplicates show mostly excellent correlation, indicating minimal error in the process and a high degree of repeatability.
Verification of sampling and assaying The mineralisation in thirteen of the drillholes completed in 2021 at Mpama South were visually verified during a site-visits by the QP in August 2021 and several of the initial drillholes were examined during earlier site visits to Bisie. The QP observed the mineralisation in the cores and compared it with the assay results. It was found that the assays generally agreed with the observations made on the core. Core photos from the drilling programme have regularly been provided to the QP for inspection.105 pulp duplicates were sent to SGS (Johannesburg) in November 2021 for confirmation assaying.
  • The pulp duplicates showed acceptable correlation with the ALS assays at both high- and low-grade ranges with an overall bias of near zero.
    • Average bias for grade ranges > 1% is less than 1%.
    • Tendency for ALS to be higher (~5%) for the grade ranges less than 1%.
  • Inter-lab precision (after removal of <0.10%) is 85% within 10% error and 95% within 20% error
Location of data points The drillhole collar positions were surveyed using a differential GPS.Downhole surveys were completed using a multishot down-hole survey instrument (Reflex EZ-Track), or north seeking gyro (Reflex EZ-Gyro / Reflex Gyro Sprint-IQ).
Tonnage factors (in situ bulk densities) Relative density measurements were made on the majority of recent drillhole samples using the Archimedes Principle of weight n air versus weight in water. A regression formula of tin grade against relative density was developed and applied to the samples that did not have direct measurements. The assigned specific gravity was interpolated into the block model using ordinary kriging.
Data density and distribution A total of 124 holes were drilled in Mpama South. An additional 6 holes previously drilled in the Wedge area of Mpama North have been included in the Mineral Resource. Holes were drilled steeply from east to west, along section lines spaced approximately 60 m to 80 m apart. Several sets of holes were drilled in a fan pattern into the side of a steep hill, with orientations spanning from the northeast to the southeast (from azimuth 045° to 125°). These drillholes fans intersect the mineralisation 25 m to 40 m apart in most of the Mineral Resource area.
Database integrity Data was provided as Excel files. MSA completed spot checks on the database and is confident that the Alphamin database is an accurate representation of the original data collected.
Dimensions The mineralisation consists of seven zones, with a total extent of 950 m along strike. MZ1 has a strike length of 950 m and 500 m down-dip and MZ2 has a strike length of 650 m and 500 m down-dip. Together, these two zones account for 88% of the Mineral Resource. The zones occurring in the footwall and hangingwall of the MZ1 and MZ2 tend to be narrower and irregular in shape with strike lengths from 100 m to 300 m. MZ6, which is located to the south has a strike length of 270 m and a dip length of 110 m.
Geological interpretation The mineralised intersections are clearly discernible in drill core. The Mineral Resource is interpreted to occur as irregular veins and disseminations of cassiterite that when combined form tabular mineralised zones, dipping 65-70° to the east. The mineralised zones are hosted in chlorite schist that is the result of intense hydrothermal alteration associated with a fracture system.MZ1 is the largest zone by volume of the Mineral Resource, with an extent of 950 m and an average thickness of 4.1 m. MZ2 is the second largest zone, with a strike length of 650 m and an average thickness of 3.4 m. However, the thicknesses of these two zones vary from as little as 1 m, up to 13 m thick.Three smaller zones (MZ3 to MZ5) occur in the footwall of the main zones of mineralisation which progressively become narrower, moving away from the main zones. MZ3 thickness ranges from 1 m to 9 m with an average thickness of 1.5 m. MZ4 has an average thickness of 1 m, attaining a maximum thickness of 5 m. MZ5 has an average thickness of 1.2 m, ranging from 1 m to 5 m. All zones become narrower along the edges, where they pinch-out.A narrow zone (MZ7) occurs in the hangingwall of the main mineralisation with an average thickness of 0.5 m and a maximum thickness of 4 m.MZ6, which occurs to the south, tends to be lower in grade and has an average thickness of 4 m, ranging from 1 m up to 9 m. MZ6 is not part of the Mineral Resource. A three-dimensional wireframe model was created for the seven zones of mineralisation based on a grade threshold of 0.40% Sn. MZ1 and MZ2 make up the main zone, which are the most consistent zones and occur within a persistent chlorite schist. Narrower less continuous zones occur above and below the main zone within chlorite-mica schists.
Domains The mineralisation was modelled as seven tabular zones containing irregular vein style mineralisation. A hard boundary was used to select data for estimation in order to honour the sharp nature of vein boundaries.
Compositing Sample lengths were composited to 1 m by length and density weighting.
Statistics and variography Statistics for the seven estimation domains show distributions that are positively skewed with coefficients of variation (CV) ranging from 1.3 to 1.96, the only exception being domain MZ7 which shows lower variability due to very few composites resulting in a CV of 0.79.The two main zones (MZ1 and MZ2) have similar average tin grades (2.22% and 2.11% respectively). The smaller, footwall zones (MZ3 to MZ5) are higher in tin grade with averages ranging from 3% to 4.41% while MZ6 and MZ7 are lower in tin grade, with an average of 0.63% and 1.07% respectively.Normal Scores semivariograms were calculated in the plane of the mineralisation, down-hole and across strike. Variograms were modelled for tin, with a range of 40 m within the plane of mineralisation and with a range of 3 m across the structures.
Top or bottom cuts for grades Top caps were applied to outlier values, identified as breaks in the cumulative, probability plots.
Data clustering Data clustering occurs where the fan drilling, collared on the western side of the deposit, intersect the surface drilling collared in the east, resulting in a data spacing of 25 m to 40 m towards the centre of the deposit. Outside of this area, the grid spacing becomes more regular, 60m to 80 m along strike and 50 m down-dip.
Block size A rotated block model with a parent cell of 10 mX by 10 mY by 2 mZ was used. Sub-celling was used to divide the parent cells to a minimum sub-cell of 1 mX by 1mY by 0.2 mZ to closely fit the narrow portions of the vein structures
Grade estimation Tin, copper, lead, zinc, silver, arsenic and density were estimated using ordinary kriging. A minimum number of 5 and a maximum of 10 one metre composites were required for the tin and density estimates. A minimum of 5 and maximum of 8 composites were used for the other elements. Estimation was carried out in three passes, with the first pass using search volumes coinciding with the variogram ranges. A second pass estimate expanded the search volumes by a factor of 1.5 to estimate blocks where insufficient samples were present for an estimate in the first pass. Where blocks remained un-estimated from the first two passes, a third pass, using an expansion factor of 10 was used to ensure all blocks in the model received a grade and density estimate.Dynamic Anisotropy was used to orientate the search volumes to the strike and dip of the individual mineralised zones.
Resource classification Indicated Mineral Resources were declared where the drillhole spacing is approximately 40 m and where the geological model has low variability. The remainder of the interpreted model was classified as Inferred Mineral Resources, corresponding to areas informed by drilling spaced 50 m to 80 m apart with a maximum extrapolation of 20 m from the nearest drillhole.
Mining cuts and cut-off grade assumptions. A minimum of 1 m was applied to the mineralisation model. The thickness, grade and steep dip implies that the Mineral Resource can be extracted using established underground mining methods similar to those applied at Mpama North.A 1% cut-off grade was applied based on the Mpama North costs and prevailing tin price.Isolated blocks above cut-off grade in dominantly low-grade areas of the model were not included in the Mineral Resource
Metallurgical factors or assumptions The tin mineralisation occurs as cassiterite, an oxide of tin (SnO2). At Mpama North gravity separation is used to produce a tin concentrate. The Cu, Zn and Pb mineralisation occurs as sulphides, which are removed by flotation to create the cassiterite product. It is assumed that similar processes will be used to process the Mpama South mineralisation.
Legal aspects and tenure Alphamin through its wholly owned DRC subsidiary, Alphamin Mining Bisie SA, has a Mining License PE 13155 which includes the Bisie Tin Mine. Alphamin has an 84.14 percent interest in ABM. The Government of the Democratic Republic of Congo (GDRC) has a non-dilutive, 5% share in ABM.
Audits, reviews and site inspection The following review work was completed by MSA:
  • Inspection of approximately 20% of mineralised core intersections used in the Maiden Mineral Resource estimate.
  • Database checks.
  • Inspection of Mpama South drill sites in August 2021.
  • On-site review of the exploration processes.
  • Laboratory inspections.

1 Based on data obtained from International Tin Association Tin Industry Review 20222 See News Announcement 7 March 2022 for Preliminary Economic Assessment and Resources3 CIM Definition: An Indicated Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors insufficient detail to support mine planning and evaluation of the economic viability of the deposit.4 CIM Definition: An Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity.

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