7th Feb 2024 14:11
First Tin PLC - London-based tin development company focused on advanced, low-capital expenditure projects in Germany and Australia - Says recent soil sampling at the Taronga tin project has confirmed extensions to known mineralisation to the project's northeast and southwest. The Taronga project, based in New South Wales, is owned by First Tin's 100% owned Australian subsidiary, Taronga Mines Pty Ltd. Sampling revealed "several potential satellite tin mineralisation targets", the company says, and a 500 parts per million tin anomaly co-incident with the southeastern edge of known mineralisation in Taronga's north pit.
First Tin Chief Executive Officer Bill Scotting says: "This is the first systematic soil sampling conducted over our Taronga tin deposit and we are pleased to announce that the gathered data provides a framework for understanding soil anomalies across the broader Emmaville district. Our sampling has reassured First Tin that no significant mineralisation is present in the designated waste rock dumps, as well as confirming the potential for extensions to the Taronga mineralisation to both the northeast and southwest. Furthermore, we have identified several nearby targets with potential to serve as supplementary feed sources for the proposed Taronga processing plant."
Current stock price: Untraded on Wednesday, last closed at 4.00 pence per share in London on Tuesday.
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By Hugh Cameron, Alliance News reporter
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