Namibia-Mining

AfriTin discovers lithium in Namibia

APA-Windhoek (Namibia)

The London Stock Exchange listed AfriTin Mining Limited said it has discovered a geologically significant lithium occurrences at its ML 133 Licence, near Uis in western Namibia.

The company said in a statement seen by APA on Thursday that it took the decision to follow up on results that were obtained by Greenhills Resources Limited, during their due diligence that was undertaken in 2016.

As part of this investigation a number of grab samples were taken from each license area.

It further revealed that five samples were obtained from the ML133 (Nainais) license area, the site of the historic TinTan mine dating back to the late 1980s.

The results of this due diligence indicated significant tin mineralisation, with grades averaging 0.274 percent tin, the company said.

"We are delighted by the discovery of geologically significant grades of lithium-bearing material at our Nainais deposit. Although the lithium discovery at the ML133 license is not of immediate priority for the company, it does provide us with a considerable upside target for the company to explore in the future. Lithium remains a major industrial mineral in battery storage technologies and exploitation of lithium from this license area could potentially contribute value to the Company in the future" AfriTin CEO Anthony Viljoen commented.

He said further work will be undertaken to determine the economics of exploiting the Lithium.

AfriTin has a portfolio of near production tin assets in Namibia and South Africa, with the flagship asset being the Uis Tin Mine in Erongo region of Namibia.


AT/as/APA

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