AfriTin Mining Ltd (LON: ATM) shares rose on Monday after the firm said it has received a second batch of assay results from drilling at its Uis tin mine in Namibia.
Among the most significant intercepts from the most recent five holes were 30.32 metres grading 0.20% tin and 91 parts per million (ppm) tantalum, 109.32 metres grading 0.17% tin and 77ppm tantalum, and 53.83 metres grading 0.16% tin and 73ppm tantalum.
The drilling was part of a programme aimed at validating the historic information disclosed by SRK in 1985.
"I am pleased to provide a further update on the confirmatory drilling programme,” said Anthony Viljoen, chief executive of AfriTin.
“Of particular interest is a 109 metre intersection of mineralised pegmatite starting at 51 metres, indicating the presence of a voluminous ore body extension at depth. While these drilling results are subject to a resource modelling and independent validation process, we are encouraged by these results which remain comparable to the historical data of 1985."
In afternoon trading, shares in AfriTin were 4% higher at 3.80p.
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