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AfriTin Mining Ltd - Tin mining company which operates the Uis tin mine in Namibia - Says drilling results for lithium and tantalum at the Uis mine have surpassed expectations. The company says it is ‘pleased’ with the lithium grades results seen the first four holes at the main V1/V2 pegmatite at Uis.
AfriTin says the mineralised intersections of the reported holes are well aligned with the current geological model, highlighting the veracity of the existing dataset. The current infill drilling programme consists of about 50 planned holes, of which 27 holes have been drilled.
Chief Executive Officer Anthony Viljoen says: ‘We are very pleased to announce these drilling results which have produced lithium grades surpassing our expectations and reinforce our belief that Uis is host to one of the largest lithium resources globally. While the V1/V2 pegmatite displays impressive dimensions and is open-ended at depth, a multitude of surrounding pegmatites present significant upside potential.
The company believes this programme will increase the confidence of the current lithium and tantalum estimates, which is part of its strategy to bring these two commodities into production alongside tin production.
Current stock price: up 7.3% at 6.87 pence each on Wednesday
12-month change: up 16%
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