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AfriTin Mining Ltd

AfriTin books encouraging drill results en route to maiden tin and tantalum resource at Uis

The current crop of results is confirming and expanding on historical data

1558335936_Afritin---on-the-ground-at-Uis.jpg
On the ground at Uis

AfriTin Mining Ltd (LON:ATM) shares rose on Moday as the firm said it completed its resource validation drilling programme at the Uis tin project in Namibia.

AfriTin completed 20 holes for 2,343 metres, and has already received assay results for five holes.

READ: Afritin MIning happy to build up slowly at Uis tin mine

Significant intersections include 16.22 metres grading 0.21% tin and 129 parts per million tantalum, and 17.87 metres grading 0.19% tin and 124ppm tantalum.

The plan is to use the data gleaned from the drilling to validate historic data compiled by consultant SRK for previous owner Iscor in 1985, and to declare a maiden JORC-compliant resource.

"We continue to make significant progress towards declaring a JORC-compliant mineral resource estimate for our Uis Tin Project,” said Anthony Viljoen, chief executive of AfriTin.

“This is a major step for the company in order to confirm the historical data originally produced by SRK for Iscor. While the results of the drilling are subject to a resource modelling and validation process, we are encouraged by the initial results which are comparable to historical data."

In afternoon trading, AfriTin shares were 1.5% higher at 3.35p.

 -- Adds share price -- 

 

 

 

Quick facts: AfriTin Mining Ltd

Price: £0.03

Market: AIM
Market Cap: £21.9 m
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