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AfriTin Mining Ltd on Monday announced further results on its lithium and tantalum drilling programme at its flagship Uis mine in Namibia.
The Guernsey-based technology metals mining company with assets in Namibia said it has discovered 90 metres of 1.4% lithium oxide and 182 parts per million of tantalum at between 134 metres to 224 metres below ground during its drilling.
The finding is the highest average lithium grade for a full pegmatite intersection within the V1/V2 pegmatite ore body discovered during the programme so far.
AfriTin said that the drilling also found a continuous portion of 76 metres of 1.56% lithium oxide between 136 metres and 212 metres below ground in the same intersection.
The company also notes the discovery of 25 metres of 1.65 lithium oxide and 26 metres of 1.0% lithium oxide.
The company reported the results of five of the 50 drill holes in its programme, all of which have been completed. The first 25 results were announced back in June, and the final 20 results are set to be provided at a later date when the results are received. The drilling programme aims to increase confidence in the existing estimates of lithium and tantalum mineral resources in the deposit, the company said.
Chief Executive Officer Anthony Viljoen said: ‘The lithium grade of the V1/V2 pegmatite appears to increase with depth, and the Company intends to further explore the down dip potential of this pegmatite. We look forward to the potential upgrade of our mineral resource estimate and advancing our lithium and tantalum product development programmes at Uis.’
AfriTin shares were 0.8% higher, trading at 4.49 pence per share on Monday afternoon in London.
By Harvey Dorset, Alliance News Reporter
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