First Tin PLC has released an update on the regional exploration conducted alongside the Definitive Feasibility Study at its Taronga Tin Project in Australia. The exploration has revealed significant potential for satellite deposits within the company's large tenement holdings in the district. The region has a history of producing over 83,000t tin in concentrate between 1872 and 1984, and is believed to be well mineralized with tin, related to the late stages of emplacement of the Mole Leucogranite.
The company's Australian subsidiary, Taronga Mines Pty Ltd, has primarily focused on the Taronga deposit and has conducted soil sampling over the deposit to obtain a reference for comparison with other mineralization in the region, ensure no mineralization occurs in areas of planned infrastructure, and identify potential satellite feed for the Taronga tin processing facility. The results have been promising, with confirmed tin anomalies at Pound Flat and Battery Hill prospects, as well as at McDonalds and Stannum.
CEO Bill Scotting expressed optimism about the potential for the Taronga Tin Processing Facility to become a hub for several potential satellite deposits, potentially increasing tin production and extending the mine life. The company has identified three new targets, including Pound Flat, which has shown a significant tin anomaly and is currently undergoing further soil sampling and drill testing. Battery Hill, located approximately 23km northeast of Taronga, has revealed moderate to high-grade tin in rocks over a substantial area, with rock chip samples returning high values of tin content.
The company's exploration efforts have also focused on the Tin Beetle prospect, approximately 8.5km southeast of Taronga, which has shown promising drilling results and is considered a high priority target for further exploration and definition work. First Tin PLC looks forward to presenting additional exploration results as they progress with these and other targets in the district over the coming months and years.