First Tin PLC on Thursday saw its shares rise, after it update the mineral resource estimate for its Taronga tin project in Australia.
First Tin is a London-based tin development company, focused on advanced, low capital expenditure projects in Germany and Australia.
According to First Tin, the mineral resource estimate is now 133.0 million tonnage at 0.1% tin, for 138,300 tonnes tin.
‘The 2023 MRE represents the culmination of a highly successful drill campaign at Taronga, which opened up new areas of mineralisation and validated previous data. We are very pleased with the large increase in contained tin and the addition of a measured resource category, which provides further confidence in the MRE,’ said Chief Executive Officer Thomas Buenger.
‘The grade-tonnage curve shows that the mineral resource estimate is robust and that significant tonnages of higher-grade material exist that will in turn reduce risk due to changing tin prices.’
First Tin shares were trading 4.6% higher at 7.48 pence each in London on Thursday afternoon.
Copyright 2023 Alliance News Ltd. All Rights Reserved.
