First Tin PLC has released an updated Mineral Resource Estimate (MRE) for its Tellerhäuser Tin Project in Germany. The MRE, completed by independent geological consultants DMT Group, shows a 35% increase in the total Indicated plus Inferred tin MRE at 0.20% Sn cut-off, from 102,900t tin to 138,600t tin. This increase is attributed to the additional 42,726 tin assays included in the database, with 1,164 reporting grades over the cut-off of 0.20% Sn. The cut-off has been reduced from 0.50% Sn to 0.20% Sn due to improved tin prices, resulting in a 49% increase in Indicated and Inferred tin MRE from the previous estimate.
First Tin's CEO, Bill Scotting, expressed the significance of this update, stating, "This increased MRE is a large step forward for us at our Tellerhäuser project in Germany." The updated MRE, reported to a 0.2% Sn cut-off grade, allows for a longer mine life to be considered in economic evaluations. The estimation was made by Competent Persons under the JORC 2012 code and is considered to be a reasonable cut-off based on current tin prices.
The MRE is based on the digitization of additional historic drilling data obtained from archives in Hartenstein and Chemnitz, providing a more robust resource model with significantly more tonnes. The Tellerhäuser project is owned by First Tin's 100% owned German subsidiary, Saxore Bergbau GmbH. The company's CEO emphasized the value of increasing resources from historic drilling data mining, especially in a world requiring more tin with few advanced projects like theirs.
The updated MRE figures and comparisons with previous estimates were provided, showing the substantial increase in tin tonnage, particularly in the Indicated category. The MRE conducted by DMT contains around 36,000t more tin than the previous estimate and around 12,000t more tin in the Indicated category. Additionally, a direct comparison with the Bara MRE, which used a cut-off of 0.50% Sn, was provided for completeness.
Overall, the updated Mineral Resource Estimate for the Tellerhäuser Tin Project in Germany represents a significant advancement for First Tin PLC, providing a more comprehensive understanding of the project's potential and paving the way for extended economic evaluations and mine life considerations.