AfriTin Mining Ltd (AIM:ATM, OTC:AFTTF) has announced a new discovery in its lithium exploration acreage in Namibia.
The company, in a statement, said it has discovered spodumene, a lithium-bearing mineral, in the 129 mining license which is located some 11 kilometres from the company’s flagship asset, the Uis Tin Mine.
Significantly, the company highlighted that the lithium discovery lies within the operational limits of the current Uis Tin Mine processing facility.
"The discovery of spodumene during our current exploration programme is an exciting development that highlights the significant potential of our licence areas in Namibia and provides a promising target for AfriTin's operations within the region,” said chief executive Anthony Viljoen.
“I am delighted by this new discovery, which reaffirms our development goals and supports the overall strategy of building a diverse portfolio of technology metals.
“The company intends to conduct an exploration drilling programme on this target during 2022, with the aim of adding to our existing lithium resource at Uis.
“Lithium from these sources can be of interest to both technical and chemical lithium markets, the latter finding application in lithium-ion batteries."
The company noted that the presence of spodumene was confirmed through laboratory X-Ray diffraction analysis of surface grab samples.
Four of the five samples collected returned positive results, the best of which yielded a whole rock spodumene content of 10%.