AfriTin Mining Ltd (AIM:ATM, OTC:AFTTF) said initial drilling results from its flagship Uis mine in Namibia have returned better than expected lithium grades.
A lithium and tantalum infill drilling program is underway on the main V1/V2 pegmatite at Uis, which is currently being mined for tin, to increase confidence in the existing lithium and tantalum estimates.
“We are very pleased to announce these drill results which have produced lithium grades exceeding our expectations and reinforce our belief that Uis hosts one of the largest lithium resources in the world,” said Managing Director Anthony Viljoen.
“While the V1/V2 pegmatite displays impressive dimensions and is open at depth, a host of surrounding pegmatites show significant upside potential.”
Significant V1/V2 pegmatite intersections include: 132 meters (m) grading 0.168% tin, 75 parts per million (ppm) tantalum, and 0.74% lithium oxide (Li2O); and 110 m at 0.171% tin, 92 ppm tantalum and 0.75% lithium oxide.
Notable intersections of lithium mineralization within the pegmatite include: 8 m at 1.08% lithium oxide; 10m at 1.05%; 12m at 0.99%; and 45m at 1.04%.
“As a former mining operation, Uis has been extensively drilled, but historical analyzes have focused only on tin without considering lithium or tantalum in the deposit,” Viljoen said.
“This program will increase confidence in current lithium and tantalum estimates and is part of our strategy to bring these two products into production alongside our tin operation.”
A Preliminary Economic Assessment (PEA) for the mine’s Phase 2 expansion, announced in April, “highlighted the economic potential of these game-changing byproduct elements,” Viljoen added.
“Building a new lithium pilot plant will allow us to move into the commercial production phases much faster than a new greenfield lithium resource elsewhere.”