First Tin PLC, a tin development company, has announced the acquisition of an additional Exploration Licence (EL 9200) by its Australian subsidiary, Taronga Mines Pty Ltd. The new licence consolidates the company's landholdings in the Taronga district and extends the tin in soil anomaly at nearby Pound Flat. The region is historically well mineralized with tin, and the Taronga deposit has a measured, indicated, and inferred resource base of 138,000t tin. The new licence covers the majority of the known deep lead deposits in the district, representing an attractive target to supplement tin production from the Taronga hard rock deposit.
The soil sampling at Pound Flat has confirmed a significant tin in soil anomaly over a strike length of around 1.8km, with results showing promising grades of tin mineralization. The mineralization is now interpreted as a series of en-echelon NE trending dilation zones in an overall ENE trending shear system, opening up the project for additional drill testing in areas with previously untested high tin in soil values. First Tin CEO, Bill Scotting, expressed enthusiasm about the acquisition of EL 9200, stating that it provides access to the deep leads, a major part of the previous production profile in the Emmaville district.
The company considers Pound Flat a high priority target for future follow-up work. First Tin 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. The company has a resource base of 309,700t tin reported in accordance with the 2012 JORC Code and Guidelines. Tin is a critical metal, vital in various industries, and First Tin aims to establish itself as an ethical, reliable, and sustainable tin production company.