Alphamin Resources Corp. (TSXV: AFM) has built on its resource confidence with a successful infill drilling campaign at the high-grade Mpama South Project in the Democratic Republic of Congo (DRC).
The producer of four per cent of the world’s mined tin from its high-grade operation has released an updated Mineral Resource Estimate (MRE).
Highlights
- Substantially improved the confidence of Mineral Resources at Mpama South whilst extending the known mineralization boundary.
- Increased Indicated Resources by 286% to 3.26Mt based on assays from 63 additional infill
- Mpama South Mineral Resources now stand at: 3.26Mt @2.46% Sn for 80.2kt contained tin in the Indicated category; and 2.84Mt @2.42% Sn for 68.7kt contained tin in the Inferred category.
- Significant additional resource growth potential at Mpama South as the deposit still remains open down-dip.
- Mpama South Mine construction works progressing according to plan – project completion expected to increase Alphamin’s annual contained tin production from the current 12,000tpa to ~20,000tpa, approximating 6.6% of the world’s mined tin1.
Mpama South Updated Mineral Resource Estimate
In just 24 months, Alphamin has:
- delivered a top-10 globally significant CRIRSCO compliant tin deposit by contained tin at Mpama South;
- grown the resources to ~2.2 times versus the Maiden Mineral Resources and PEA2 numbers;
- increased resource confidence across the deposit; and
- commenced mine construction through own cashflows.
This brings forward an additional planned ~7,200tpa contained tin production, which will make Alphamin one of the largest tin producers globally and delivers on the company strategy of organic growth and creating shareholder value.
The updated Mineral Resource for Mpama South follows eight months after the previous update announced on 31 May 2022. The update is based on receipt of assays for another 63 infill and extensional drillholes completed subsequent to the previous estimate which was based on 124 drillholes.
The updated MRE now includes results from 187 drillholes at Mpama South as well as six drillholes drilled in 2015 in the area between Mpama South and the Mpama North ore body. The MRE was estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines (2019) and is reported in accordance with the 2014 CIM Definition Standards.
The Mineral Resource is classified into the Indicated and Inferred categories and is reported at a base case tin cut-off grade of 1.0%, which satisfies reasonable prospects for economic extraction. Mpama South Indicated Resources increased by ~286% to 3.26Mt by converting Inferred Resources, while Inferred Resources grew nominally by ~275kt (excluding those tonnes converted to Indicated).
For further information please visit: https://www.alphaminresources.com/
