LONDON, June 20, 2022 (GLOBE NEWSWIRE) -- First Tin, a tin development company with advanced, low capex projects in Germany and Australia, is pleased to announce that high grade mineralisation has been confirmed at its Gottesberg tin project in Germany with an initial intercept of 6.5m @ 0.98% Sn from 124.7m downhole.
Between 24 November 2021 and 30 March 2022, 16 drillholes were drilled for a total length of 2080.5m from 7 drill sites in the project area. Eleven holes (1597.5m) of this 16 hole programme were designed to test for an interpreted higher grade core to the large but moderate grade Gottesberg tin deposit (42.1Mt @ 0.27% Sn containing 114,000t tin in Indicated plus Inferred resources). This is of particular interest as a potential source of high-grade mineralisation that may be able to be pre-concentrated and transported to the Tellerhäuser project for additional processing.
Results have now been received for the first three drillholes at Gottesberg - SaxGB003-01, SaxGB003-02 and SaxGB003-03.
Drillhole SaxGB003-03 intersected the large, moderate grade mineralisation zone as expected, returning an overall downhole intercept of 90.8m @ 0.15% Sn from 75.8m downhole. Within this zone and close to the area of underground workings previously opened up during the 1960s, a high-grade intercept of 6.5m (downhole) @ 0.98% Sn from 124.7m was encountered beneath medieval surface workings. This is an excellent outcome and supports the validity of the conceptual high grade target zone.
Drillhole SaxGB003-02 failed to reach the intended target, suggesting the mineralisation is steeper than anticipated in this area.
Drillhole SaxGB003-01 targeted an IP anomaly outside the known mineralisation area, interpreted as a possible extension of the interpreted higher grade mineralisation. This returned low grade tin mineralisation with a best intercept of 17.8m @ 0.05% Sn from 109.2m - possibly the source of the IP anomaly.
More drill core samples are currently being analyzed at ALS in Romania and First Tin is eagerly awaiting confirmation of interpreted additional high grade mineralisation from drilling along strike of that identified in drillhole SaxGB003-03.
First Tin CEO Thomas Buenger said, "We are pleased to confirm the presence of high grade mineralisation at the Gottesberg tin project in Germany, which is in close proximity to our Tellerhäuser project. Mineralisation from this area is intended to deliver additional ore for processing at a central processing facility, building our presence as a supplier of conflict free, local tin for the German and European technology market. We look forward to announcing additional results in the coming weeks and months."
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 PR) | |
| Elisabeth Cowell / 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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/).
