Positive Intercepts from Gottesberg, Germany

RNS Number : 8439X

First Tin PLC

01 September 2022

 

01 September 2022

First Tin Plc

("First Tin" or "the Company")

 Positive Intercepts from Gottesberg, Germany

First Tin Plc ("First Tin"), a tin development company with advanced, low capex projects in Germany and Australia , is pleased to announce that the latest two diamond drillholes received from the Gottesberg tin project in German has intercepted broad zones of higher grade mineralisation.  

Results from drillholes SaxGB002_1 and SaxGB002_3 have been returned (see Figure 1) with significant intercepts including:

· 73.3m @ 0.49% tin ("Sn") from 91.7m including 15.6m @ 0.74% Sn from 149.4m

· 2.5m @ 2.72% Sn, 2.56% W from 128.2m followed by

· 6.95m @ 1.46% Sn, 0.26% Cu, 7.7g/t Ag from 143.65m

These results, further details on which can be found below, follow on from the previously reported intercept of 6.5m @ 0.98% Sn from 124.7m announced on 20 June 2022, and are significantly higher than the average resource grade at Gottesberg, which contains 42.1Mt grading 0.27% Sn (114,000t tin) as reported under JORC 2012 guidelines (see www.firsttin.com for details). 

Combined, the results to date validate the Board's belief that a higher grade core exists within the large but moderate grade Gottesberg deposit. During the programme, undertaken between, 24 November 2021 and 30 March 2022, 16 drillholes for a total length of 2080.5m were drilled from seven drill sites in the project area.  Results have now been returned from 10 drillholes with six drillholes remaining outstanding.  

Gottesberg is of particular interest as a potential source of high-grade mineralisation that may be able to be pre-concentrated and transported to a central milling facility at the Tellerhäuser project, which is approximately 25km away, for additional processing.

First Tin CEO Thomas Buenger said, "These results confirm that broad zones of significantly higher grade material are present within the overall moderate grade Gottesberg deposit.  This confirms our exploration model and supports our vision of implementing a possible hub and spoke approach in the broader Tellerhäuser project area.  I am eagerly awaiting results of the remaining drillholes at Gottesberg so we can combine the data and plan additional drilling that will enable us to update the existing resource under JORC 2012 guidelines."

Figure 1: Central Cross Section, Gottesberg Prospect, Looking West

Further Information regarding the latest results

The intercept of 73.3m @ 0.49% Sn is from within the main part of the Gottesberg deposit where several higher grade sub-zones have combined to form a significantly higher than average grade zone that could potentially be mineable as a bulk underground deposit.  The higher grade zone of 15.6m @ 0.74% Sn appears to be along strike of the intercept announced in June, assuming an approximately east-west trend. This may be related to controlling structures for the mineralisation and may form a discrete higher grade target.

The intercepts of 2.5m @ 2.72% Sn, 2.56% W and 6.95m @ 1.46% Sn, 0.26% Cu, 7.7g/t Ag are outside the main resource area but below old surface tin workings and associated with a strong IP chargeability anomaly. The copper and silver are associated with sulphides which may be the source of the IP anomaly.  The high tungsten is unusual in this district and may be related to a separate mineralising event.

Results from the remaining two drillholes on this section are awaited and may help clarify the morphology of mineralisation.  These results are expected to be received within the next few weeks.

Results from the third and final fence of drilling (four drillholes) have now been despatched to the laboratory and results are expected within 6-8 weeks.

Figure 2: Location Plan showing Recent Drilling at The Gottesberg Tin Deposit

Enquiries:

First Tin	Via SEC Newgate below
Thomas Buenger - Chief Executive Officer
Arlington Group Asset Management Limited (Financial Advisor and Joint Broker)
Simon Catt	020 7389 5016
WH Ireland Limited (Joint Broker)
Harry Ansell	020 7220 1670
SEC Newgate (Financial Communications)
Elisabeth Cowell / Axaule Shukanayeva / Molly Gretton	07900 248 213

Notes to Editors

First Tin is an ethical, reliable, and sustainable tin production company led by a team of renowned tin specialists. The Company is focused on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.

Tin is a critical metal, vital in any plan to decarbonise and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future. Its assets have been de-risked significantly, with extensive work undertaken to date.

First Tin's goal is to use best-in-class environmental standards to bring two tin mines into production in three years, providing provenance of supply to support the current global clean energy and technological revolutions.

 

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