Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) has released details of a new tin resource for 11 historically mined pegmatite orebodies located close to the actively mined V1/V2 pegmatite at the Uis mine in Namibia.
These 11 pegmatites have been collectively termed the Proximal Pegmatites and are located within a three-kilometre radius from the existing processing plant.
The V1/V2 pegmatite as well as the Proximal Pegmatites are located within the mining licence ML134 as part of a swarm comprising more than 180 mineralised pegmatites.
An initial resource for V1/V2 was released late in 2019, and amounted to 71.5mln tonnes of ore.
The additional inferred resource over the Proximal Pegmatites amounts to 57mln tonnes of ore with an average grade of 0.131% tin.
Historical drill hole information further indicates that the Proximal Pegmatites remain open-ended at depth, and accordingly, Andrada is embarking on a confirmatory drilling programme to improve the tin resource classification and to evaluate lithium and tantalum potential of the Proximal Pegmatites.
"The declaration of this inferred resource, using the historical drill data from the Uis Mine, significantly advances the total Andrada mineral inventory towards management's internal mineral resource target of at least 200mln tonnes of mineralisation,” said Andrada chief executive Anthony Viljoen.
“These additional pegmatites, together with the mineral resource at the V1/V2 orebody, provide an entire resource portfolio of approximately 128mln tonnes of ore with a gross combined content of 170,000 tonnes of tin, making Andrada the owner of one of the largest tin assets globally. Furthermore, through our demonstrated ability to rapidly and profitably scale up production at the existing operations at the Uis mine, we believe Andrada has the ability to compound the company's economies of scale and position the company as one of the lowest cost tech-metal producers in the next five years.”