AfriTin Mining Limited (LON:ATM) is to move ahead with plans for a large scale operation at the Uis tin mine after a maiden resource confirmed the scale of the orebody.
“The scale of this resource, from 2 pegmatites, places the tin inventory as one of the biggest of its kind in the world and encourages further development of the additional outcropping pegmatites identified within our mining licence area, of which an excess of 100 pegmatite bodies have been identified,” said Anthony Viljoen, chief executive.
On a JORC basis, measured, indicated and inferred resources are 71.54mln tonnes of ore at a grade of 0.134 % for 95,539 tonnes of contained tin.
An additional 6,091 tonnes of tantalum and 450,000 tonnes of contained lithium oxide (Li2O) were also recorded.
“The addition of tantalum and lithium to the estimate further enhances the attractiveness of this globally significant asset and creates an exciting opportunity for other potential revenue streams.
"Assays of the historical resource didn't typically capture other elements as there were no markets for these by-products at the time."