AfriTin Mining Ltd Lithium Discovery on AfriTin Mining License (2914D)
March 02 2022 - 1:00AM
UK Regulatory
TIDMATM
RNS Number : 2914D
AfriTin Mining Ltd
02 March 2022
2 March 2022
AfriTin Mining Limited
("AfriTin" or the "Company")
Lithium (Spodumene) Discovery on AfriTin Mining License
AfriTin Mining Limited (AIM: ATM), an African tech-metals mining
company with a portfolio of mining and exploration assets in
Namibia, is pleased to announce the discovery of spodumene, a
lithium-bearing mineral, within its fully permitted mining license
ML 129, situated 11 kilometres SW of the Company's flagship asset,
the Uis Tin Mine ("Uis").
Link to Map:
https://afritinmining.com/lithium-spodumene-discovery-on-afritin-mining-license-map/
Highlights:
-- Lithium-bearing spodumene identified within multiple
pegmatites located on adjacent mining licence ML 129;
-- Discovery lies within the operational limits of the current
Uis Tin Mine processing facility;
-- Spodumene complements the Company's existing pegmatite hosted lithium resource at Uis; and,
-- This discovery is the first result of an extensive
early-stage regional exploration programme.
Anthony Viljoen (CEO) commented:
"The discovery of spodumene during our current exploration
programme is an exciting development that highlights the
significant potential of our licence areas in Namibia and provides
a promising target for AfriTin's operations within the region. I am
delighted by this new discovery, which reaffirms our development
goals and supports the overall strategy of building a diverse
portfolio of technology metals.
The Company intends to conduct an exploration drilling programme
on this target during 2022, with the aim of adding to our existing
lithium resource at Uis. Lithium from these sources can be of
interest to both technical and chemical lithium markets, the latter
finding application in lithium-ion batteries."
The discovery of spodumene, the primary mineral used in the
production of lithium-ion batteries, was achieved under the
Company's regional exploration programme over historical mine
workings and greenfield opportunities in central Namibia. The
mineralised pegmatites have a combined strike length of
approximately 2 km and occur within the adjacent fully permitted
mining licence, ML 129. They occur in close proximity to an
existing arterial road and fall within the operational limits of
the Uis Tin Mine.
The presence of spodumene within the pegmatites was confirmed
through laboratory X-Ray diffraction analysis of surface grab
samples. Four of the five samples collected returned positive
results, the best of which yielded a whole rock spodumene content
of 10%. Follow-up field observations have subsequently identified
additional surface exposures of similar pegmatite type along
strike. Whilst it is an early stage discovery, and significant work
is required to fully understand these results, it is nevertheless
an exciting development that underpins the Company's confidence in
the prospectivity of ML129.
AfriTin's mining licence, ML 134, on which the Uis Tin Mine is
situated, hosts a JORC (2012) compliant mineral resource containing
approximately 450,000 tonnes of Li(2) O, with the primary lithium
ore mineral identified as petalite (see announcement dated 16
September 2019). The spodumene identified on ML 129 indicates the
potential for broadening the range of AfriTin's strategic mineral
portfolio and furthering the Company's objective of establishing an
inventory of technology metals.
Glossary of abbreviations
km kilometres
Li Symbol for Lithium
Li (2) Lithium oxide
O
Li -> Metal to metal-oxide conversion factor of 2.153
Li (2)
O
JORC The Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves
SW South-west
AfriTin Mining Limited +27 (11) 268 6555
Anthony Viljoen, CEO
Nominated Adviser +44 (0) 207 220 1666
WH Ireland Limited
Katy Mitchell
Corporate Advisor and Joint Broker
H&P Advisory Limited
Andrew Chubb
Jay Ashfield
Nilesh Patel +44 (0) 20 7907 8500
Stifel Nicolaus Europe Limited
Ashton Clanfield
Callum Stewart +44 (0) 20 7710 7600
Tavistock Financial PR (United
Kingdom) +44 (0) 207 920 3150
Jos Simson
Oliver Lamb
Nick Elwes
About AfriTin Mining Limited
Notes to Editors
AfriTin Mining Limited is a London-listed tech-metals mining
company with a vision to create a portfolio of globally
significant, conflict-free, producing assets. The Company's
flagship asset is the Uis Tin Mine in Namibia, formerly the world's
largest hard-rock open cast tin mine.
AfriTin is managed by an experienced board of directors and
management team with a current strategy to ramp-up production at
the Uis Tin Mine in Namibia to 10,000 tonnes of tin concentrate and
350,000 tonnes of lithium concentrate in a Phase 2 expansion,
having reached Phase 1 commercial production in 2020. The Company
strives to capitalise on the solid supply/demand fundamentals of
tin and lithium by developing a critical mass of resource
inventory, achieving production in the near term and further
scaling production by consolidating assets in Africa.
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