AfriTin Mining Ltd Operational Update (6299H)
March 14 2018 - 3:01AM
UK Regulatory
TIDMATM
RNS Number : 6299H
AfriTin Mining Ltd
14 March 2018
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.
Highlights
-- 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.
Enquiries:
AfriTin Limited
Anthony Vijoen (CEO) +27 (11) 268 6555
Nominated Adviser and Broker
WH Ireland Limited
Katy Mitchell
Adrian Hadden
James Sinclair-Ford +44 (0) 207 220 1666
Financial PR (United Kingdom)
Tavistock
Jos Simson / Barney Hayward +44 (0) 207 920 3150
Financial PR (South Africa)
Lifa Communications
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.
This information is provided by RNS
The company news service from the London Stock Exchange
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