FIRST TIN PLC — Regulatory Filings 2022

Aug 11, 2022

National Storage Mechanism | Additional information

RNS Number : 6250V

First Tin PLC

11 August 2022

11 August 2022

First Tin Plc

("First Tin" or "the Company")

Commencement of Deep Drilling at Tellerhäuser

First Tin Plc ("First Tin"), a tin development company with advanced, low capex projects in Germany and Australia, is pleased to announce that it has commenced a fully funded programme of diamond drilling at its flagship Tellerhäuser tin deposit in Germany. This is a key workstream focused on adding high grade tin mineralisation to the Indicated Resources already present at the project.

The drilling will consist of five parent diamond drillholes, with each having up to five daughter holes. The daughter holes will be highly deviated from the centre parent hole, designed to intersect the deeper, high grade Dreiberg tin mineralisation at a nominal 50m x 50m spacing around the parent holes. The deviation technique was chosen for its cost effectiveness given the upper 800m is host rock. The deviation from the parent hole will be above the mineralised zone and the program will overall take approximately six months to complete, with first assay results expected during Q4 2022.

Dreiberg mineralisation was originally intersected by Soviet Union drilling undertaken between the late 1960's and early 1980's and in total there have been 25 holes drilled into the structure, with best historical results including 7.2m @ 2.15% tin ("Sn").

Dreiberg mineralisation sits approximately 3km down dip of Tellerhäuser's Hämmerlein tin mineralisation and is approximately 400m deeper due to the dip angle.  The ultimate aim of this work is to convert as much of the high grade Dreiberg tin mineralisation as possible, from Inferred to Indicated resource status and thus enable this to be used for economic evaluation under JORC guidelines. The drilling will also aim to identify additional extensions to the known Dreiberg tin mineralisation.

The drilling will also enable collection of a new sample of the Dreiberg mineralisation for additional mineral processing testwork, to ensure the Dreiberg mineralisation behaves in a similar manner to the Hämmerlein mineralisation, where most of First Tin's metallurgical testwork has focused to date.  Previous work by SDAG Wismut (the previous Soviet/GDR Joint Venture) suggests this is the case, however First Tin intends to confirm it through its own work.

First Tin CEO Thomas Buenger said, "The deeper drilling at Tellerhäuser is an exciting progression for First Tin, the objective of which is to add high grade tin mineralisation to our Indicated Resources. While the previous mineral processing testwork suggests the mineral processing characteristics of this mineralisation are very similar to those at Hämmerlein, it will be incredibly useful to confirm that with our own sample. This, together with the expansion drilling across both our tin projects in Germany and Australia, means we are well placed to provide significant news flow over the coming months as we build value in our assets."

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 / Axaule Shukanayeva / 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.

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