First Tin PLC has announced that its subsidiary, Taronga Mines Pty Ltd, has applied for an Exploration Licence covering the majority of the Tingha tin field in northeastern New South Wales, Australia. The licence, if granted, will consolidate the company's control of the exploration potential around its Taronga tin deposit. The Tingha tin field is one of three main tin fields in the New England Tin Corridor, with significant historical tin production. The tin mined at Tingha was mainly alluvial, with the potential for larger disseminated or stockwork-sheeted vein-style deposits similar to Taronga. Initial work will consist of data compilation and geological mapping, followed by drilling if warranted.
First Tin CEO Thomas Buenger stated that the Exploration Licence submission is an important step in consolidating the company's control of significant historical tin producing areas in northeastern New South Wales. He added that it forms part of their long-term strategy of building on their existing tin holdings and extending their "Tin District" concept around the Taronga tin deposit. The company expects the Exploration Licence to be granted close to the completion of their DFS (Definitive Feasibility Study) on the Taronga deposit.
First Tin is a tin development company 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 in the decarbonization and electrification of the world, and Europe has a limited supply. The company's assets have been de-risked significantly, with extensive work undertaken to date.