First Tin PLC Application for Exploration Licence (8625K)
31 Agosto 2023 - 1:00AM
UK Regulatory
TIDM1SN
RNS Number : 8625K
First Tin PLC
31 August 2023
31 August 2023
First Tin Plc
("First Tin" or "the Company")
Taronga Mines Pty Ltd applies for Exploration Licence over the
Tingha Tin Field
First Tin PLC ("First Tin"), a tin development company with
advanced, low capex projects in Germany and Australia, is pleased
to report that its 100% owned Australia subsidiary - Taronga Mines
Pty Ltd (TMPL) - has applied for a large (276.6km(2) ) Exploration
Licence covering the majority of the Tingha tin field, located
approximately 50km from TMPL's advanced stage Taronga tin project
in northeastern New South Wales (Figure 1).
There are three main tin fields in northeastern NSW and
southeastern Queensland, that form the New England Tin Corridor.
This is evident in Figure 1, which shows known tin mineralisation
as orange dots overlaid on a Google Earth image. TMPL currently
holds the majority of the Emmaville Tin Field under its existing
tenure. Once the Exploration Licence is granted, TMPL will hold the
majority of the Tingha Tin Field and will have access to explore
most of the known tin mineralised areas in northeastern NSW. This
will consolidate the Companys control of the exploration potential
around our world class Taronga tin deposit.
The three tin fields all have significant historical tin
production, the majority of which is from alluvial and eluvial
sources:
-- Stanthorpe Tin Field 51,000t tin
-- Emmaville Tin Field 88,000t tin
-- Tingha Tin Field 64,000t tin
The tin mined at Tingha was mainly alluvial, with large dredges
operating over an extended timeframe during the late 1800s to late
1900s. The tin is interpreted as being derived from the Triassic
age Gilgai Leucogranite which has a similar age and formation
history to the Mole Leucogranite, which is interpreted as the
source of the tin mineralising fluids that formed Taronga.
Some small hard-rock deposits are known to occur in the Tingha
area. These are generally vein-style (quartz-cassiterite-mica)
deposits that trend east-northeast and northwest. While they tend
to be small, we can see potential for larger disseminated or
stockwork-sheeted vein-style deposits, similar to Taronga.
Initial work will consist of data compilation and geological
mapping aimed at assessing the potential for large scale
disseminated or sheeted-stockwork style tin deposits. This will be
followed by drilling if warranted.
First Tin CEO Thomas Buenger said: "This Exploration Licence
submission is an important step in consolidating First Tin's
control of significant historical tin producing areas in
northeastern NSW. It forms part of our long-term strategy of
building on our existing tin holdings and extending our "Tin
District" concept around our world-class Taronga tin deposit. We
expect that the Exploration Licence will be granted close to the
time of completion of our DFS on the Taronga deposit, and we look
forward to updating shareholders with the outcome once this
procedure has been completed."
Figure 1: Tingha Tin Project EL Application Location Pl
Figure 1: Tingha Tin Project EL Application Location Plan
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 / Molly FirstTin@secnewgate.co.uk
Gretton
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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