Wrap Text
Alphamin announces an updated Mpama South mineral resource estimate and the decision to commence with development
Alphamin Resources Corp.
Continued in the Republic of Mauritius
Date of incorporation: 12 August 1981
Corporation number: C125884 C1/GBL
TSX-V share code: AFM
JSE share code: APH
ISIN: MU0456S00006
ALPHAMIN ANNOUNCES AN UPDATED MPAMA SOUTH MINERAL RESOURCE
ESTIMATE AND THE DECISION TO COMMENCE WITH DEVELOPMENT
29 March 2022 – Alphamin Resources Corp. (AFM:TSXV, APH:JSE AltX, “Alphamin” or the
“Company”), a producer of 4% of the world’s mined tin1 from its high-grade operation in the
Democratic Republic of Congo, is pleased to announce an updated Mpama South Mineral
Resource estimate and the decision to commence with the development of the Mpama South
mine and processing plant.
HIGHLIGHTS
- Mpama South updated Inferred Resource up 75% to 3.42Mt based on assays from 22
additional drillholes. Mpama South Mineral Resource now stands at:-
• 0.85Mt @ 2.55% Sn for 21.5kt contained tin in the Indicated category; and
• 3.42Mt @ 2.45% Sn for 83.7kt contained tin in the Inferred category
- Significant additional resource growth potential at Mpama South - drilling is on-going
with considerable mineralisation intercepted beyond the updated Mineral Resource
boundary
- Decision to commence with the development of Mpama South:-
o Targeted first tin production by December 2023
o Estimated annual contained tin production of 7,232 tonnes3 at an estimated
AISC2 of US$15,188/t tin (Based on an assumed US$40,000/t tin price)
o Estimated annual EBITDA2 of US$187m3 at an assumed tin price of US$40,000/t
1 Data obtained from International Tin Association Tin Industry Review 2020.
2 This is a non-GAAP financial measure, is not standardized and may not be comparable to similar financial measures of other issuers. See “Use
of Non-IFRS Financial Performance Measures” below for a further explanation of this performance metric and how it is calculated.
o Estimated capital development cost of US$116m3 providing a projected short
payback in relation to annual EBITDA potential
o De-risked project execution with similar mining method, mining fleet and
processing route as currently applied at Alphamin’s adjacent Mpama North Mine
o Capital development cost to be funded from cash reserves
- Mpama South’s development is expected to increase annual contained tin production from
the current 12,000tpa to ~20,000tpa, approximating 6.6% of the world’s mined tin1
Chief Executive Officer, Maritz Smith comments:
“The development of Mpama South as a brownfields expansion is expected to increase
Alphamin’s annual tin production by 65% to a targeted 20,000t from FY2024. Tin and technology
are inter-linked and consequently global demand for tin continues to increase despite constrained
supply. This development decision and the resultant additional production expected by the end of
2023, positions us to deliver more tin into this widening market deficit.”
Mpama South Updated Mineral Resource Estimate
The updated Mineral Resource for Mpama South follows three weeks after the announcement of
the maiden Mineral Resource in the Company’s announcement of 7th March 2022. The update is
based on the receipt of assays for a further 22 drillholes to the original 79 drillholes on which the
Maiden Mineral Resource estimate was based.
The updated Mineral Resource presented in Figure 1 closely follows the spatial position of
reported assays which Alphamin presented in its 22nd March 2022 Company announcement. This
practice of regularly plotting intercepted visual cassiterite and assays in news announcements,
as an early indication of where Mineral Resources may potentially extend to and then following it
up with regular Mineral Resource updates, is planned to continue during 2022.
Figure 1: Updated Mpama South Mineral Resource and visual cassiterite intercepts
awaiting assay
3 Data obtained from Preliminary Economic Assessment study announced on 7 March 2022.
Source: Alphamin 2022
Following the receipt of assays for the additional 22 drillholes, an updated Mineral Resource
Estimate (MRE) for the Mpama South project was completed. The MRE, which now includes
results from 102 drillholes, was estimated using the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM) Best Practice Guidelines (2019) and is reported in accordance with the 2014
CIM Definition Standards.
The Mineral Resource is classified into the Indicated and Inferred categories and is reported at a
base case tin grade of 1.0%, which satisfies reasonable prospects for economic extraction.
Mpama South Inferred Resources increased by 75% to 3.42Mt. The Mineral Resource Statement
with an effective date of 28 March 2022 is presented in Table 1:-
Table 1: Updated Mpama South Mineral Resources effective 28 March 2022
Sn Tonnes
Classification Tonnes (millions) Sn %
(thousands)
Indicated4 0.85 2.55 21.5
Inferred5 3.42 2.45 83.7
Mineral Resources that are not Mineral Reserves do not have a demonstrated economic viability
and require advanced studies and economic analysis to prove their viability for extraction.
4 CIM Definition: An Indicated Mineral Resource is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and
physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors insufficient detail to support mine
planning and evaluation of the economic viability of the deposit.
5 CIM Definition: An Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated on the
basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality
continuity.
The MRE for Mpama South does not include a substantial quantity of subsequent drilling
containing characteristic high grade visual cassiterite. Around 30 additional drillholes and over
~10,000 metres beyond and within the limits of the updated MRE at Mpama South have been
completed. Subsequent Mpama South MRE updates are expected to be released throughout the
remainder of the drilling phases in 2022 and beyond as assays are received.
The MRE has been completed by Mr. J.C. Witley (BSc Hons, MSc (Eng.)) who is a geologist with
33 years’ experience in base and precious metals exploration and mining as well as Mineral
Resource evaluation and reporting. He is a Principal Resource Consultant for The MSA Group
(an independent consulting company), is registered with the South African Council for Natural
Scientific Professions (SACNASP) and is a Fellow of the Geological Society of South Africa
(GSSA). Mr. Witley has the appropriate relevant qualifications and experience to be considered
a “Qualified Person” for the style and type of mineralisation and activity being undertaken as
defined in National Instrument 43-101 Standards of Disclosure of Mineral Projects.
Preliminary Economic Assessment (PEA) Results on Mpama South
Summary results from the PEA announced on 7 March 2022 are tabulated below. The PEA was
based on the maiden Resource estimate and excludes Resources from the updated MRE
included in this announcement.
Description Unit Value
Avg. Annualised ROM mined and processed ‘000t 468
Avg. Annualised ROM grade %Sn 2.21
Processing recovery % 70.0
Avg. Annualised Contained tin produced tonnes 7,232
Avg. Annualised AISC per tonne contained tin sold (At $/t tin 15,188
US$40,000/t tin price)
Avg. Annualised AISC per tonne contained tin sold (At $/t tin 14,326
US$30,000/t tin price)
Avg. Annualised EBITDA (At US$40,000/t tin price) US$’000 187,310
Avg. Annualised EBITDA (At US$30,000/t tin price) US$’000 121,220
Development Capital Estimate US$’000 115,970
* The outputs are based on 100% of the project. Alphamin indirectly owns 84,14% of the project.
The PEA is preliminary in nature, it includes Inferred Mineral Resources that are considered too
speculative geologically to have economic considerations applied to them that would enable them
to be categorized as Mineral Reserves. There is no certainty that the PEA results will be realized.
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability,
nor is there certainty that the Mineral Resource will be converted into Mineral Reserves.
Decision to commence with the development of Mpama South
PEA studies are conceptual in nature and are most commonly applied to projects at an early stage
of exploration to conceptualise potential viability. A PEA is not a pre-feasibility or feasibility study
and the Company does not purport the PEA results to be equivalent to a feasibility study.
However, notwithstanding the very preliminary and conceptual nature of the PEA, based on the
Company’s experience at Mpama North and knowledge base, including regarding underground
conditions, the mining method and processing route, and the proximity and very similar
characteristics of the deposits, the Company believes that Mpama South represents an
immediately accessible adjacent Resource to the current producing Mpama North mine.
The Board has approved the commencement of development of Mpama South without delay
taking account of:
• the opportunity to take advantage of the current and forecasted supply deficit in the tin
market;
• the Company’s ability to self-fund its development from current and short-term forecasted
cash reserves;
• the continued exploration success at Mpama South which has immediate potential for
further resource extensions and successful conversion of inferred resources;
• the expected short payback on this capital investment;
• the potential significant value any additional production has to the operating profits of the
Company in the near term.
The lead time to project completion and commissioning is estimated at 20 months with first tin
production targeted by December 2023. The surface infrastructure and processing plant
construction will be executed under an EPCM contract model, using contractors who are familiar
with the Mpama North mine, and who have proven their competence at the mine to date. The
underground mine development will be executed by a dedicated Alphamin mining team who will
progress from developing the project to planned production mining.
Qualified Persons
Mr Jeremy Witley, Pr. Sci. Nat., B.Sc. (Hons.) Mining Geology, M.Sc. (Eng.), is a qualified person
(QP) as defined in National Instrument 43-101 and has reviewed and approved the scientific and
technical information relating to Mineral Resources contained in this news release. He is a
Principal Mineral Resource Consultant of The MSA Group (Pty.) Ltd., an independent technical
consultant to the Company.
Mr. Clive Brown, Pr. Eng., B.Sc. Engineering (Mining), is a qualified person (QP) as defined in
National Instrument 43-101 and has reviewed and approved all scientific and technical information
other than relating to the mineral resources contained in this news release. He is a Principal
Consultant and Director of Bara Consulting Pty Limited, an independent technical consultant to
the Company.
____________________________________________________________________________
FOR MORE INFORMATION, PLEASE CONTACT:
Maritz Smith
CEO
Alphamin Resources Corp.
Tel: +230 269 4166
E-mail: msmith@alphaminresources.com
JSE Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
____________________________________________________________________________
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a statement of historical fact constitutes forward-
looking information. Forward-looking statements contained herein include, without limitation,
statements relating to the results of the Mpama South PEA, including estimated development
costs, estimated quantities of materials to be mined and processed, estimated grades,
metallurgical recoveries and quantities of tin to be produced, and estimated costs of production
and EBITDA, estimated time for mine construction, the merit and potential viability of the project,
estimated Mineral Resources for Mpama South, development of a mine at Mpama South and
anticipated exploration activities and outcomes. Forward-looking statements are based on
assumptions management believes to be reasonable at the time such statements are made.
There can be no assurance that such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements. Although Alphamin has
attempted to identify important factors that could cause actual results to differ materially from
those contained in forward-looking statements, there may be other factors that cause results not
to be as anticipated, estimated or intended. Factors that may cause actual results to differ
materially from expected results described in forward-looking statements include, but are not
limited to: uncertainties inherent in estimates of Mineral Resources, mine development and
operating costs, mining volumes, grades and processing recoveries, particularly in light of the
very early stage at which some of these estimates are being made, global economic uncertainties,
volatility of metal prices, uncertainties with respect to social, community and environmental
impacts, uninterrupted access to required infrastructure, adverse political geopolitical events,
impacts of the global Covid-19 pandemic on mining, global supply chain issues which may cause
longer lead-times to procure critical equipment and consumables which may delay project
implementation as well as those risk factors set out in the Company’s Management Discussion
and Analysis and other disclosure documents available under the Company’s profile at
www.sedar.com. Forward-looking statements contained herein are made as of the date of this
news release and Alphamin disclaims any obligation to update any forward-looking statements,
whether as a result of new information, future events or results or otherwise, except as required
by applicable securities laws.
USE OF NON-IFRS FINANCIAL PERFORMANCE MEASURES
This announcement refers to the following non-IFRS financial performance measures:
EBITDA
EBITDA is profit before net finance expense, income taxes and depreciation, depletion, and
amortization. This measure assists readers in understanding the cash generating potential of the
project including liquidity to fund working capital, pay taxes, service debt, and funding capital
expenditures and investment opportunities.
This measure is not recognized under IFRS as it does not have any standardized meaning
prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by
other issuers. EBITDA data is intended to provide additional information and should not be
considered in isolation or as a substitute for measures of performance prepared in accordance
with IFRS.
AISC
This measures the costs to produce a tonne of contained tin plus the capital sustaining costs to
maintain the mine, processing plant and infrastructure. AISC includes mine operating production
expenses such as mining, processing, administration, indirect charges (including surface
maintenance and camp and tailings dam construction costs), smelting costs and deductions,
refining and freight, distribution, royalties and product marketing fees. AISC does not include
depreciation, depletion, and amortization, reclamation expenses, borrowing costs and exploration
expenses. Contractual product marketing fees terminate in August 2024, following which date
zero marketing fees have been included in estimated AISC and EBITDA.
Sustaining capital expenditures are defined as those expenditures which do not increase
contained tin production at a mine site and excludes all expenditures at the Company’s projects
and certain expenditures at the Company’s operating sites which are deemed expansionary in
nature.
Risks relating to Mineral Resource Estimates
The figures for Mineral Resources contained in this news release are estimates only and no
assurance can be given that the anticipated tonnages and grades will be achieved, that the
indicated level of recovery will be realized or that the Mineral Resources could be mined or
processed profitably. There are numerous uncertainties inherent in estimating Mineral Resources,
including many factors beyond the Company’s control. Such estimation is a subjective process,
and the accuracy of any resource estimate is a function of the quantity and quality of available
data and of the assumptions made and judgments used in engineering and geological
interpretation. Short-term operating factors relating to the Mineral Resources, such as the need
for orderly development of the ore bodies or the processing of new or different ore grades, may
cause the mining operation to be unprofitable in any particular accounting period. In addition,
there can be no assurance that metal recoveries in small scale laboratory tests will be duplicated
in larger scale tests under on-site conditions or during production. Lower market prices, increased
production costs, the presence of deleterious elements, reduced recovery rates and other factors
may result in revision of its resource estimates from time to time or may render the Company’s
resources uneconomic to exploit. Resource data is not indicative of future results of operations.
If the Company’s actual Mineral Resources are less than current estimates or if the Company fails
to develop its resource base through the realization of identified mineralized potential, its results
of operations or financial condition may be materially and adversely affected.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Appendix 1: SAMPLE PREPARATION, ANALYSES AND QUALITY CONTROL AND QUALITY
ASSURANCE (QAQC)
After receipt of diamond drill core from the drillers at the drill rig in marked core trays, core was
transported to the Company’s core shed by the site geologist for logging and sampling. After
sample mark up, lithological and geotechnical logging and photography, the core was split
longitudinally in half using a water-cooled rotating diamond blade core saw. The cut core was
replaced into the core tray with the half to be sampled facing upward. The Archimedes method of
weight in air vs weight in water was used to provide relative density measurements on the whole
length of the half core that was to be sampled and then replaced in the core trays.
Air dried samples were placed in pre-numbered sample bags together with pre-printed numbered
sample tickets, which were cross-checked afterwards to prevent sample swaps. Sample bags
were sealed using a plastic cable tie and then placed into poly-weave sacks which were in turn
sealed with plastic cable ties. Each poly-weave sack was marked with a number and the sample
numbers contained within, ready for delivery to the on-site Alphamin-Bisie laboratory (managed
by Anchem) for sample preparation.
At the laboratory, samples were first checked off against the submission list supplied and then
weighed and oven dried for 2 hours at 105 degrees Celsius. The dried samples were crushed by
jaw crusher to 75% passing 2mm, from which a 250g riffle split was taken. This 250g split was
pulverised in ring mills to 90% passing 75?m from which a sample for analysis was taken.
Samples were homogenised using a corner-to-corner methodology and two samples were taken
from each pulp, one of 10g for on-site laboratory preliminary assaying and another 150g sample
for export and independent accredited 3rd party laboratory assaying.
For the initial on-site laboratory assay, 10 grams of pulverised sample is mixed with 2 grams of
binder before press pellet preparation at 20t/psi for 1 minute. Press pellets are analysed in a
desktop Spectro Xepos XRF analyser, twelve at a time, for Sn, Fe, Zn, Cu, Ag, Pb and As along
with a standard, duplicate and blank. The analytical method conducted on the pressed pellet has
an expected 10% precision and an upper detection limit of 70,000ppm and lower detection limit
of 500ppm. Over-limit samples are titrated by wet chemistry with an upper limit validation of 70%
Sn. The on-site laboratory assays are merely an exploration tool and were not used for reporting
the exploration results or Mineral Resource estimation, which are based solely on the ALS assays.
The 150g sample is packaged in sealed paper sample envelopes and packed in a box for export
in batches of approximately 500 samples and prepared for export authorisation with national
authorities. Once authorisation is received, samples are air-couriered to ALS Global in
Johannesburg South Africa, a subsidiary of ALS Limited, which is an independent commercial
analytical facility. ALS operations are ISO 9001:2015 certificated and the Johannesburg office is
ISO 17025 accredited for Chemical Analysis by SANAS (South African National Accreditation
System, facility number T087), although the accreditation does not extend to the methods used
for tin.
Received samples at ALS Johannesburg are checked off against the list of samples supplied and
logged in the system. Quality Control is performed in the way of sieve tests every 50 samples and
should a sample fail, the preceding 50 samples are ground in a ring mill pulveriser using a carbon
steel ring set to 85 % passing 75?m. Samples are analysed for tin using method code ME-XRF05
conducted on a pressed pellet with 10% precision and an upper limit of 5,000ppm. The over-limit
tin samples are analysed as fused disks according to method ME-XRF15c, which makes use of
pre-oxidation and decomposition by fusion with 12:22 lithium borate flux containing 20% Sodium
Nitrate as an oxidizing agent, with an upper detection limit of 79% Sn.
Method code ME-ICP61 (HF, HNO3, HClO4 and HCl leach with ICP-AES finish) is used for 33
elements including base metals. ME-OG62, a four-acid digestion, is used on ore grade samples
for lead, zinc, copper and silver. Both methods are accredited by SANAS.
The program is designed to include a comprehensive analytical quality assurance and control
routine comprising the systematic use of Company inserted standards, blanks and field duplicate
samples, internal laboratory standards and analysis at an accredited laboratory. The pulps were
accompanied by blind QAQC samples inserted into the sample stream by the Alphamin-Bisie
geologists. These comprised blank samples, certified reference materials and pulp duplicates
each at an insertion rate of approximately 5%.
The QAQC results demonstrate that the assay results are both accurate and precise with an
insignificant amount of contamination (in the order of 10pmm Sn on average) and negligible
sampling errors.
Laboratory verification work was conducted by check assays conducted at SGS South Africa (Pty)
Ltd. This included 105 check samples submitted in November 2021. These samples comprised
duplicated pulps from the maiden resource drillholes derived from the sample preparation at the
on-site laboratory. CRMs and blanks to an appropriate level also formed part of the 105-sample
submission. Check assay results showed that there was a near zero overall bias and that inter-
lab precision, after removal of <0.10% Sn samples ,was ~85% within 10% error and ~95% within
20% error. Given the nature of high-grade tin variability and previous knowledge of umpire check
exercises at the operation, these results are considered acceptable.
Appendix 2: SIGNIFICANT INTERCEPTS (0.5% Sn lower threshold)
Mpama South Drillholes prefixed “BGH”
Mpama North Drillholes prefixed “MND”
Hole Easting Northing RLm Azi (°) Dip (°) From To Sn % Width Sample Position
GPS GPS (m)1 mid_x mid_y mid_z
BGH017 582535 9884822 732 55 -10 237.8 238.8 4.99 1 582,732 9,884,966 678.6
BGH018 582535 9884822 732 93 0 141.2 144.35 2.07 3.15 582,691 9,884,820 727.9
145.75 151 0.76 5.25 582,696 9,884,820 727.9
BGH019 582535 9884822 732 85 -5 147 152 2.05 5 582,696 9,884,837 715.8
BGH020 582535 9884822 732 84 -15 160.6 164.4 1.45 3.8 582,704 9,884,846 689.3
169.3 171.1 5.42 1.8 582,711 9,884,846 687.7
BGH021 582535 9884822 732 93 -15 109.15 110.25 3.2 1.1 582,654 9,884,821 700.1
164.6 167.32 3.29 2.72 582,708 9,884,818 687.6
BGH022 582554 9884785 732 90 0 75 80.53 3.99 5.53 582,633 9,884,784 729.3
109 110 1.35 1 582,664 9,884,785 729.9
119.22 122.1 2.22 2.88 582,676 9,884,785 730.1
BGH023 582535 9884822 732 75 -15 171.43 174.32 1.72 2.89 582,710 9,884,859 683.7
175.85 178 1.09 2.15 582,714 9,884,860 683
BGH024 582554 9884785 732 103 -5 127.7 129.6 0.54 1.9 582,679 9,884,749 717.2
137.95 142 1.13 4.05 582,690 9,884,746 716.2
BGH025 582535 9884822 732 55 -20 212.25 213.4 0.6 1.15 582,724 9,884,919 662.3
218 221.45 2.29 3.45 582,731 9,884,921 660.7
222.7 223.7 13.05 1 582,734 9,884,923 659.9
228 234.8 2.73 6.8 582,741 9,884,926 658
BGH026 582554 9884785 732 113 -10 103.71 108 3.3 4.29 582,649 9,884,735 713.7
134.8 136.45 3.72 1.65 582,676 9,884,722 708.6
161 162.5 5.61 1.5 582,699 9,884,711 704.5
BGH030 582554 9884785 732 115 -20 110 111.4 7.24 1.4 582,655 9,884,753 692.2
141.9 152.5 4.85 10.6 582,686 9,884,745 680
158 161.2 3.61 3.2 582,699 9,884,742 675.3
174.45 175.8 11.03 1.35 582,713 9,884,738 670.5
BGH032 582554 9884785 732 125 -20 177 178.72 1.7 1.72 582,692 9,884,684 671.3
182 188.25 3 6.25 582,697 9,884,679 669.1
190.25 193 0.95 2.75 582,702 9,884,676 667.2
194.4 202 1.37 7.6 582,707 9,884,672 665.3
203.5 208 2.67 4.5 582,713 9,884,668 663.2
BGH034 582554 9884785 732 115 -25 174.8 178 11.99 3.2 582,689 9,884,696 653.3
195.7 200 1.21 4.3 582,706 9,884,686 644.8
202.37 206.65 1.86 4.28 582,711 9,884,683 642.3
208 213.3 1.4 5.3 582,716 9,884,680 640.1
216.25 221.3 1.42 5.05 582,722 9,884,676 637.3
225.65 231 0.7 5.35 582,730 9,884,671 634
BGH027 582544 9884822 732 68 -27 212.35 214 0.58 1.65 582,729 9,884,879 634
226 229.3 1.32 3.3 582,741 9,884,883 628.4
235.45 236.58 1.54 1.13 582,749 9,884,885 625.2
BGH028 582554 9884785 732 90 -10 125 126 1.72 1 582,676 9,884,772 700.9
136.1 137.18 1.85 1.08 582,687 9,884,770 698.4
140.28 142 1.03 1.72 582,691 9,884,770 697.4
147.46 151.25 2.88 3.79 582,699 9,884,769 695.5
BGH029 582544 9884822 732 93 -25 126 128.35 4.66 2.35 582,663 9,884,826 678.5
178.9 184.05 1.25 5.15 582,713 9,884,827 657.7
193.7 196.05 3.95 2.35 582,726 9,884,827 653
BGH031 582544 9884822 732 75 -25 208 211.53 0.99 3.53 582,729 9,884,876 639.9
219.4 222.38 1.16 2.98 582,739 9,884,879 636
BGH033 582544 9884822 732 60 -27 259 265.46 7.32 6.46 582,756 9,884,929 612.8
268.53 270.52 1.02 1.99 582,762 9,884,931 610
BGH035 582554 9884785 732 90 -25 152 165 2.96 13 582,686 9,884,816 665
171 173.6 1.47 2.6 582,703 9,884,815 657.4
176.6 180.08 2.4 3.48 582,709 9,884,814 654.9
147.45 151.35 2.31 3.9 582,687 9,884,878 724.8
BGH036 582544 9884822 732 65 0 156.63 160.65 0.93 4.02 582,696 9,884,881 724.7
BGH037 582554 9884785 732 105 -30 154 157 3.81 3 582,680 9,884,741 647.5
194.6 197.55 1.54 2.95 582,712 9,884,730 626
207.95 211.18 1.29 3.23 582,723 9,884,726 619.3
216.25 220.15 2.79 3.9 582,730 9,884,723 615.1
222.4 226.7 1.77 4.3 582,735 9,884,721 612.1
BGH038 582544 9884822 732 75 -30 151.7 154.6 5.22 2.9 582,677 9,884,851 654.3
218.3 223.65 3.38 5.35 582,735 9,884,861 621.4
226.7 231.5 1.95 4.8 582,743 9,884,862 617.6
BGH039 582554 9884785 732 100 -22 112.08 113 2.12 0.92 582665.1 9,884,755 687.6
116.3 120.95 3.33 4.65 582,661 9,884,753 686.1
145 166 2.2 21 582,696 9,884,744 674.2
174.5 176 0.95 1.5 582,713 9,884,739 668.9
BGH040 582544 9884822 732 60 -30 232 233 0.95 1 582,725 9,884,922 618.2
273.7 277.05 3.79 3.35 582,761 9,884,937 600
BGH041 582500 9884847 732 55 -25 340 344.5 3.03 4.5 582,807 9,885,002 599.5
BGH042 582544 9884822 732 60 -35 277.35 280 1.93 2.65 582,751 9,884,922 569.4
308.5 312 0.62 3.5 582,776 9,884,932 552.6
313 315.55 1.52 2.55 582,779 9,884,933 550.5
BGH043 582544 9884822 732 100 -10 102.5 104.15 2.69 1.65 582,644 9,884,808 709
123 124 1.06 1 582,663 9,884,805 704.8
163.64 167 2.82 3.36 582,704 9,884,798 696.7
BGH044 582500 9884847 710 70 -35 330 334.13 1.31 4.13 582,764 9,884,941 533.4
BGH045 582544 9884822 732 100 -20 120.65 121.75 31.55 1.1 582,656 9,884,806 687.4
156 159.4 0.56 3.4 582,689 9,884,799 674.7
176.7 183.62 3.24 6.92 582,708 9,884,795 668.1
BGH046 582544 9884822 732 100 -30 195.18 206 2.85 10.82 582,712 9,884,795 630.5
212.53 215.18 1.9 2.65 582,723 9,884,793 623.7
218 220.6 7.16 2.6 582,728 9,884,792 620.8
225 226 4.36 1 582,733 9,884,791 617.7
BGH047 582565 9884535 718 60 0 121.58 124.57 0.91 2.99 582,653 9,884,879 739.2
147.09 148.09 1.28 1 582,675 9,884,889 741.1
BGH048 582567 9884509 727 90 0 140.75 143.05 0.9 2.3 582,708 9,884,496 727.7
146.53 148 0.74 1.47 582,713 9,884,495 728
BGH049 582565 9884535 718 65 -15 145.4 147.4 4.27 2 582,689 9,884,599 674.5
BGH050 582567 9884509 727 105 -5 160 161.38 1.06 1.38 582,722 9,884,469 711.7
BGH051 582565 9884535 718 40 0 134.8 137 2.23 2.2 582,662 9,884,630 712.3
151 156.3 1.2 5.3 582,675 9,884,642 711.4
164.18 169.45 3.95 5.27 582,685 9,884,651 710.8
171.27 172.57 4.08 1.3 582,688 9,884,655 710.6
BGH052 582567 9884509 727 120 0 205.9 207.1 1.86 1.2 582,732 9,884,385 722.9
BGH053 582565 9884535 718 40 -15 173.73 176.93 9.58 3.2 582,685 9,884,653 669.2
178.55 181.43 4.07 2.88 582,688 9,884,656 667.9
192.41 196.86 3.28 4.45 582,698 9,884,666 664
198.86 206.77 2.45 7.91 582,704 9,884,671 661.8
207.53 209.5 5.04 1.97 582,708 9,884,675 660.3
214.65 216 2.32 1.35 582,713 9,884,680 658.6
BGH054 No significant intercepts
BGH055 582565 9884535 718 80 -15 145 146 0.62 1 582,705 9,884,549 682.7
BGH056 No significant intercepts
BGH057 No significant intercepts
BGH058 582565 9884510 727 95 -5 153.35 155.6 1.98 2.25 582,717.30 9,884,501.20 703.9
BGH059 582567 9884536 718 95 0 165 166 3.63 1 582,732.30 9,884,528.30 714.4
BGH060 No significant intercepts
BGH061 582567 9884536 727 130 -10 157.57 159.19 1.22 1.62 582,719 9,884,525 677.7
BGH062 582567 9884537 718 95 -15 154 156 2.18 2 582,695 9,884,589 650.2
BGH063 582782 9884646 829 270 -70 186.25 194.37 0.82 8.12 582,719 9,884,661 650.5
197.42 202.45 1.12 5.03 582,715 9,884,661 641.8
205 209.05 0.83 4.05 582,712 9,884,661 635.4
211.13 218.9 2.06 7.77 582,709 9,884,661 628.3
220.4 222.55 0.86 2.15 582,706 9,884,661 622.5
231 233 0.87 2 582,701 9,884,661 613
BGH064 582888 9884976 839 270 -50 220.8 222.6 0.63 1.8 582,746 9,884,976 668.9
BGH065 582913 9885057 819 270 -60 271 275.95 2.93 4.95 582,769 9,885,057 586.1
291.56 292.56 1.7 1 582,759 9,885,057 570.9
BGH066 582888 9884976 839 270 -60 276 278.59 8.49 2.59 582,754 9,884,965 596.1
300 301 1.78 1 582,742 9,884,965 576.6
BGH067 582913 9885057 819 270 -67 295.75 300.47 3.21 4.72 582,789 9,885,065 548.1
303 304.62 1.56 1.62 582,786 9,885,065 543.1
337 338 0.55 1 582,769 9,885,068 514.3
BGH068 582913 9885057 819 270 -50 247 248.2 2.1 1.2 582,749 9,885,051 633.1
251.8 255.1 1.75 3.3 582,745 9,885,051 628.8
BGH069 582888 9884976 839 270 -70 321.8 324.73 3.84 2.93 582,779 9,884,962 534.7
BGH070 582913 9885057 819 270 -73 331 336.35 3 5.35 582,802 9,885,040 505.2
BGH071 No significant intercepts
BGH072 582852 9884845 831 270 -67 274.6 279.7 2.7 5.1 582,749 9,884,847 574
290.4 294.8 3.61 4.4 582,742 9,884,847 560
BGH073 582731 9884691 838 280 -60 121 123 0.72 2 582,671 9,884,702 731.9
BGH074 582944 9885130 798 270 -67 278.9 283.93 2.85 5.03 582,810 9,885,137 551.2
285.49 289.1 1.6 3.61 582,807 9,885,138 546.3
294.51 297.3 7.14 2.79 582,802 9,885,139 539.1
299.65 303.34 0.53 3.69 582,799 9,885,139 534.5
BGH075 582731 9884691 838 270 -70 115.4 116.65 6.76 1.25 582,690 9,884,690 729.4
119.5 120.8 15.22 1.3 582,688 9,884,690 725.7
125.09 129.8 3.56 4.71 582,684 9,884,690 719.3
162.55 164.63 8.94 2.08 582,667 9,884,689 687.8
BGH076 582752 9884801 849 300 -40 108 109 0.84 1 582,682 9,884,844 779.6
118.8 119.45 3.71 0.65 582,675 9,884,848 772.7
128.15 131 2.82 2.85 582,668 9,884,852 765.8
136.7 137 0.97 0.3 582,663 9,884,855 761
BGH077 582944 9885130 798 270 -72 316.84 321.2 2.57 4.36 582,830 9,885,130 501.7
323 328.36 2.56 5.36 582,827 9,885,130 495.8
329.06 330.13 0.52 1.07 582,825 9,885,130 492.4
335.25 337.36 9.63 2.11 582,822 9,885,130 486.5
339.77 340.07 7.07 0.3 582,820 9,885,131 483.4
BGH078 582752 9884801 849 280 -40 102 106 1.88 4 582,674 9,884,816 782.6
108 109 0.62 1 582,671 9,884,817 779.7
115 117.15 0.8 2.15 582,665 9,884,818 774.8
BGH079 582852 9884845 831 270 -73 290.15 294.4 1 4.25 582,765 9,884,842 552.6
296.3 302.3 9.46 6 582,763 9,884,841 546.1
304.81 305.7 18.75 0.89 582,761 9,884,841 540.5
312 313 1.08 1 582,758 9,884,841 533.8
316.9 321.63 4.65 4.73 582,755 9,884,840 527.5
322.57 328 5.41 5.43 582,753 9,884,840 522
328.95 329.48 1.59 0.53 582,751 9,884,840 518.4
340.68 341.42 4.29 0.74 582,747 9,884,839 507.6
BGH080 582944 9885130 798 270 -75 339.9 343.6 1.05 3.7 582,853 9,885,141 469.2
345 346.55 4.11 1.55 582,851 9,885,141 465.5
360.7 361 11.95 0.3 582,846 9,885,143 451.5
BGH081a 583022 9885299 776 270 -50 269 274.56 1.99 5.56 582,838 9,885,306 578.6
275.56 275.86 0.64 0.3 582,835 9,885,307 576
BGH082a 583013 9885209 752 270 -50 263.83 266.3 3.43 2.47 582,836 9,885,222 556
268.35 269.15 3.32 0.8 582,833 9,885,223 553.5
276.97 277.27 15.65 0.3 582,827 9,885,224 547.9
BGH083 No significant intercepts
BGH084 583023 9885299 776 270 -57 278.95 280.9 6.25 1.95 582,857 9,885,307 552.8
283.06 286.31 1.28 3.25 582,854 9,885,307 549.2
BGH085 583023 9885299 776 270 -65 294.65 298.35 0.83 3.7 582,890 9,885,304 512.9
BGH086 583013 9885208 752 270 -57 275.35 280.78 3.07 5.43 582,847 9,885,214 530.1
286.05 286.51 18.9 0.46 582,841 9,885,215 524.4
BGH087 583023 9885299 777 270 -75 263.75 264.28 0.59 0.53 582,946 9,885,305 525.0
BGH088 583012 9885208 752 270 -67 297.74 299.46 11.93 1.72 582,876 9,885,221 487.3
301 301.77 6.79 0.77 582,875 9,885,221 485.0
303.7 304 2.47 0.3 582,873 9,885,222 483.0
305.7 306 1.66 0.3 582,872 9,885,222 481.4
307.2 307.55 6.66 0.35 582,871 9,885,223 480.2
308.26 308.93 12.15 0.67 582,871 9,885,223 479.2
309.46 309.77 1.98 0.31 582,870 9,885,223 478.3
310.35 310.68 17.65 0.33 582,869 9,885,223 477.6
313 313.85 2.82 0.85 582,868 9,885,224 475.3
324.48 324.86 5.77 0.38 582,861 9,885,226 466.3
325.43 325.83 10.40 0.4 582,861 9,885,226 465.6
BGH089 582951 9885352 779 270 -50 198 199 4.58 1 582,822 9,885,357 628.9
202.65 203.45 12.25 0.8 582,819 9,885,357 625.5
205.1 205.54 7.96 0.44 582,818 9,885,357 623.7
217.45 218.45 31.90 1 582,809 9,885,358 614.1
BGH090 582951 9885423 769 270 -50 168.8 170.48 2.45 1.68 582,843 9,885,424 638.3
170.88 171.48 12.55 0.6 582,842 9,885,424 637.1
172.97 173.3 5.05 0.33 582,841 9,885,424 635.6
BGH091 582951 9885352 779 270 -65 222.1 223.5 4.02 1.4 582,850 9,885,358 581.3
BGH092 583021 9885430 752 270 -55 193.5 193.88 17.15 0.38 582,913 9,885,431 591.9
BGH093 583013 9885345 759 270 -70 224.25 224.75 4.06 0.5 582,932 9,885,341 549.9
225.8 226.72 1.81 0.92 582,931 9,885,341 548.3
227.7 228.3 2.75 0.6 582,930 9,885,341 546.7
BGH094 582990 9885055 810 270 -65 381 384.81 3.84 3.81 582,808 9,885,054 473.5
389.74 390.25 5.95 0.51 582,805 9,885,054 467.4
408.45 411 5.82 2.55 582,795 9,885,054 450.4
BGH095 582960 9884759 831 270 -60 391.57 399.6 4.56 8.03 582,773 9,884,762 482.7
400 401 1.85 1 582,770 9,884,761 478.6
405 411.97 4.47 6.97 582,766 9,884,761 471.9
414 414.3 1.36 0.3 582,763 9,884,761 467.2
BGH096 No significant intercepts
BGH097 583013 9885345 759 270 -58 242 245.5 1.10 3.5 582,879 9,885,344 555.7
247 250.1 2.66 3.1 582,876 9,885,344 551.8
BGH099 No significant intercepts
BGH100 583013 9885345 759 270 -79 226.76 231.27 2.09 4.51 582,965 9,885,347 535.2
233.08 235 1.58 1.92 582,964 9,885,347 530.3
BGH101 582990 9884975 813 270 -65 387.37 388.62 2.66 1.25 582,802 9,884,968 474.7
392.33 394.68 1.49 2.35 582,799 9,884,968 470.1
396 398.24 0.53 2.24 582,797 9,884,968 467.1
402.74 410.2 3.68 7.46 582,792 9,884,967 459.3
423.64 425.48 13.48 1.84 582,781 9,884,967 444.5
BGH102 No significant intercepts
MND001 No significant intercepts
MND002 No significant intercepts
MND003 No significant intercepts
MND004 583392 9886283 682 270 -52 524.76 525.06 0.67 0.3 582,994 9,886,250 347
MND005 No significant intercepts
MND006 No significant intercepts
MND007 583100 9886210 726 270 -75 402 402.45 0.58 0.45 582,987 9,886,211 340.5
MND009 582881 9886200 752 270 -65 96.35 96.75 2.28 0.4 582,842 9,886,200 667.3
MND010 No significant intercepts
MND011 583103 9886211 726 270 -83 419.26 428 21.85 8.74 583,021 9,886,194 312.7
430.6 438.9 17.52 8.3 583,018 9,886,193 302
MND012 582950 9886140 765 270 -60 64.7 65.35 12.2 0.65 582,916 9,886,142 699.8
MND013 582945 9886142 759 270 -50 142.7 142.98 10.05 0.28 582,852 9,886,146 651.2
177 178 1.02 1 582,829 9,886,146 625.5
MND014 No significant intercepts
MND015a 582950 9886140 755 270 -70 172.32 172.68 6.34 0.36 582,887 9,886,144 594.8
MND016 583063 9886162 741 270 -50 249.42 253 0.62 3.58 582,895 9,886,161 554.1
MND017 583200 9886170 745 270 -50 385 386 1.02 1 582,952 9,886,164 450.4
MND018 583063 9886162 741 270 -60 284.7 285 11.7 0.3 582,912 9,886,160 499.2
MND019 583200 9886170 745 270 -64 432.24 444 25.94 11.76 582,996 9,886,161 357.6
445 445.55 15.3 0.55 582,993 9,886,160 351.6
1. Apparent widths, not true thickness
Appendix 3: Checklist of Assessment and Reporting Criteria
Drilling techniques All drillholes were diamond drill cored and drilled from surface (most
intersections drilled using NQ size), holes drilled orientated in an east-west
direction were angled between -60° and -70°. Holes collared in the west
were drilled out in fan patterns into the side of a hill and angled between 0°
and minus 35°.
Logging All of the drillholes were geologically logged by qualified geologists. The
logging is of an appropriate standard for grade estimation.
Drill sample recovery Core recovery in the mineralised zones was observed to be very good and
is on average 97%.
Sampling methods Half core samples were collected continuously through the mineralised
zones after being cut longitudinally in half using a diamond saw. Drillhole
samples were taken at nominal 1 m intervals, which were adjusted to
smaller intervals in order to target the cassiterite vein zones. Lithological
contacts were honoured during the sampling. MSA’s observations indicated
that the routine sampling was performed to a reasonable standard and is
suitable for evaluation purposes.
Quality of assay data and At the on-site ABM laboratory (managed by Anchem), samples were first
laboratory tests checked off against the submission list supplied and then weighed and oven
dried for 2 hours at 105 degrees Celsius. The dried samples were crushed
by jaw crusher to 75% passing 2mm, from which a 250g riffle split was
taken. This 250g split was pulverised in ring mills to 90% passing 75?m
from which a sample for analysis was taken. Samples were homogenised
using a corner-to-corner methodology and two samples were taken from
each pulp, one of 10g for on-site laboratory assaying and another 150g
sample for export and independent accredited 3rd party laboratory
assaying.
Received samples at ALS Johannesburg are checked off against the list of
samples supplied and logged in the system. Quality Control is performed by
way of sieve tests every 50 samples and should a sample fail, the preceding
50 samples are ground in a ring mill pulveriser using a carbon steel ring set
to 85 % passing 75?m. Samples are analysed for tin using method code
ME-XRF05 conducted on a pressed pellet with 10% precision and an upper
limit of 5,000ppm. The over-limit tin samples are analysed as fused disks
according to method ME-XRF15c, which makes use of pre-oxidation and
decomposition by fusion with 12:22 lithium borate flux containing 20%
Sodium Nitrate as an oxidizing agent, with an upper detection limit of 79%
Sn.
Prior to the 2021 drilling the assays were also conducted at ALS Global in
Johannesburg where samples were analysed for tin using fused disc ME-
XRF05 with 10% precision and an upper limit of 10 000 ppm. This was
reduced to 5,000 ppm from 2014 onwards. Over limit samples were sent to
Vancouver for ME-XRF10 which uses a Lithium Borate 50:50 flux with an
upper detection limit of 60% and precision of 5%.
ME-ICP61, HF, HNO3, HCL04 and HCL leach with ICP-AES finish was
used for 33 elements including base metals. ME-OG62, a four-acid
digestion, was used on high grade samples for Pb, Zn, Cu & Ag.
External quality assurance of the laboratory assays for the Alphamin
samples was monitored. Blank samples (223), certified reference materials
(310) and duplicate samples (277) were inserted with the field samples
accounting for approximately 11% of the total sample set.
The QAQC measures used by Alphamin revealed the following:
• Blank samples indicated that no significant contamination occurred
overall. Low levels of contamination (mostly <200 ppm Sn) mostly
occurred, however 9 values between 229 ppm and 1,285 ppm
were returned. Given the high grades at Bisie, the levels of
contamination are not significant.
• Five different CRMs were used with expected values between
0.18% and 31.42% Sn. The lower grade CRMs were prepared by
Ore Research and Exploration (OREAS) and the two high grade
CRMs (4.19% and 31.42% Sn) by the Bureau of Analysed
Samples Ltd (BCS). In general, ALS returned values within the
tolerance limits (three standard deviations) for the OREAS CRMs,
although slightly lower than the expected value. Assays of the
highest grade BCS CRM were mostly outside of the three standard
deviation limits but within ±4%of the expected value. The update
assays of the high grade BCS-355 CRM were within ±6% of the
expected value with no overall bias relative to the CRM expected
value. For the 5.07% Sn BCS CRM, assays were consistently
lower than the expected value by as much as 7%. This trend
continued for the update assays with an average under-assay of
7% relative to the CRM expected value. Overall, the CRMs results
indicate a slight negative bias for the ALS assays.
• Coarse duplicates show mostly excellent correlation, indicating
minimal error in the process and a high degree of repeatability.
Verification of sampling and The mineralisation in thirteen of the drillholes completed in 2021 at Mpama
assaying South were visually verified during a site-visits by the QP in August 2021
and several of the initial drillholes were examined during earlier site visits to
Bisie. The QP observed the mineralisation in the cores and compared it with
the assay results. It was found that the assays generally agreed with the
observations made on the core. Core photos from the drilling programme
have regularly been provided to the QP for inspection.
105 pulp duplicates were sent to SGS (Johannesburg) in November 2021
for confirmation assaying.
• The pulp duplicates showed acceptable correlation with the ALS
assays at both high- and low-grade ranges with an overall bias of
near zero.
o Average bias for grade ranges > 1% is less than 1%.
o Tendency for ALS to be higher (~5%) for the grade ranges
less than 1%.
• Inter-lab precision (after removal of <0.10%) is 85% within 10%
error and 95% within 20% error
Location of data points The drillhole collar positions were surveyed using a differential GPS.
Downhole surveys were completed using a multishot down-hole survey
instrument (Reflex EZ-Track), or north seeking gyro (Reflex EZ-Gyro /
Reflex Gyro Sprint-IQ).
Tonnage factors (in situ bulk Relative density measurements were made on the majority of recent
densities) drillhole samples using the Archimedes Principle of weight n air versus
weight in water. A regression formula of tin grade against relative density
was developed and applied to the samples that did not have direct
measurements. The assigned specific gravity was interpolated into the
block model using ordinary kriging.
Data density and distribution A total of 107 holes were drilled in Mpama South. Holes were drilled steeply
from east to west, along section lines spaced approximately 60 m to 80 m
apart. Several sets of holes were drilled in a fan pattern into the side of a
steep hill, with orientations spanning from the northeast to the southeast
(from azimuth 045° to 125°). These drillholes fans intersect the
mineralisation 25 m to 40 m apart in most of the Mineral Resource area.
Database integrity Data was provided as Excel files. MSA completed spot checks on the
database and is confident that the Alphamin database is an accurate
representation of the original data collected.
Dimensions The mineralisation consists of seven zones, with a total extent of 1 110 m
along strike. The two main zones are MZ1 which has a strike length of 900
metres and 350 m down-dip and MZ2, with a strike length of 650 m and 350
m down-dip, accounting for 88% of the Mineral Resource.
The zones occurring in the footwall and hangingwall of the MZ1 and MZ2
tend to be narrower and irregular in shape with strike lengths from 100 m to
300 m. MZ6, which is located to the south has a strike length of 270 m and
a dip length of 110 m.
Geological interpretation The mineralised intersections in drill core are clearly discernible. The
Mineral Resource is interpreted to occur as irregular tabular mineralised
zones, dipping 65-70° to the east, containing several narrow veins and
disseminations of cassiterite. The mineralised zones are hosted in chlorite
schist that is the result of intense hydrothermal alteration associated with a
fracture system.
The two main zones of the Mineral Resource (MZ1 and MZ2) are
continuous for almost 900 m, with average thicknesses of 4.1 m and 3.4 m
respectively. However, the thicknesses of these two zones vary from as little
as 1 m, up to 14 m thick.
Three smaller zones (MZ3 to MZ5) occur in the footwall of the main
mineralisation which progressively become narrower, moving away from the
main zone. MZ3 thickness ranges from 1 m to 9 m with an average
thickness of 1.5 m. MZ4 has an average thickness of 1 m, attaining a
maximum thickness of 5 m. MZ5 has an average thickness of 1.2 m,
ranging from 1 m to 5 m. All zones become narrower along the edges,
where they pinch-out.
A small, narrow zone (MZ7) occurs in the hangingwall of the main
mineralisation with an average thickness of 0.5 m and a maximum thickness
of 4 m.
MZ6, which occurs to the south, tends to be lower in grade and has an
average thickness of 4 m, ranging from 1 m up to 9 m.
A three-dimensional wireframe model was created for the seven zones of
mineralisation based on a grade threshold of 0.40% Sn. The MZ1 and MZ2
make up the main zone, which are the most consistent zones and occur
within a persistent chlorite schist. Narrower less continuous zones occur
above and below the main zone within chlorite-mica schists.
Domains The mineralisation was modelled as seven tabular zones containing
irregular vein style mineralisation. A hard boundary was used to select data
for estimation in order to honour the sharp nature of vein boundaries.
Compositing Sample lengths were composited to 1 m by length and density weighting.
Statistics and variography Statistics for the seven estimation domains show distributions that are
positively skewed with coefficients of variation (CV) ranging from 1.33 to
1.97, the only exception being domain MZ7 which shows lower variability
due to very few composites resulting in a CV of 0.79.
The two main zones (MZ1 and MZ2) have similar average tin grades
(2.30% and 2.07% respectively). The smaller, footwall zones (MZ3 to MZ5)
are higher in tin grade with averages ranging from 2.4% to 4.11% while MZ6
and MZ7 are lower in tin grade, with an average of 0.57% and 1.05%
respectively.
Normal Scores semivariograms were calculated in the plane of the
mineralisation, down-hole and across strike. Variograms were modelled for
tin, with a range of 40 m within the plane of mineralisation and with a range
of 3 m across the structures.
Top or bottom cuts for grades Top caps were applied to outlier values, identified as breaks in the
cumulative, probability plots.
Data clustering Data clustering occurs where the fan drilling, collared on the western side of
the deposit, intersect the surface drilling collared in the east, resulting in a
data spacing of 25 m to 40 m towards the centre of the deposit. Outside of
this area, the grid spacing becomes more regular, 60m to 80 m along strike
and 50 m down-dip.
Block size A rotated block model with a parent cell of 10 mX by 10 mY by 2 mZ was
used. Sub-celling was used to divide the parent cells to a minimum sub-cell
of 1 mX by 1mY by 0.2 mZ to closely fit the narrow portions of the vein
structures
Grade estimation Tin, copper, lead, zinc, silver, arsenic and density were estimated using
ordinary kriging. A minimum number of 5 and a maximum of 10 one metre
composites were required for the tin and density estimates. A minimum of 5
and maximum of 8 composites were used for the other elements.
Estimation was carried out in three passes, with the first pass using search
volumes coinciding with the variogram ranges. A second pass estimate
expanded the search volumes by a factor of 1.5 to estimate blocks where
insufficient samples were present for an estimate in the first pass. Where
blocks remained un-estimated from the first two passes, a third pass, using
an expansion factor of 10 was used to ensure all blocks in the model
received a grade and density estimate.
Dynamic Anisotropy was used to orientate the search volumes to the strike
and dip of the individual mineralised zones.
Resource classification Indicated Mineral Resources were declared where the drillhole spacing is
approximately 40 m and where the geological model has low variability. The
remainder of the interpreted model was classified as Inferred Mineral
Resources, corresponding to areas informed by drilling spaced 50 m to 80
m apart with a maximum extrapolation of 20 m from the nearest drillhole.
Mining cuts and cut-off grade A minimum of 1 m was applied to the mineralisation model. The thickness,
assumptions. grade and steep dip implies that the Mineral Resource can be extracted
using established underground mining methods similar to those applied at
Mpama North.
A 1% cut-off grade was applied based on the Mpama North costs and
prevailing tin price.
Isolated blocks above cut-off grade in dominantly low-grade areas of the
model were not included in the Mineral Resource
Metallurgical factors or The tin mineralisation occurs as cassiterite, an oxide of tin (SnO2). At
assumptions Mpama North gravity separation is used to produce a tin concentrate. The
Cu, Zn and Pb mineralisation occurs as sulphides, which are removed by
flotation to create the cassiterite product. It is assumed that similar
processes will be used to process the Mpama South mineralisation.
Legal aspects and tenure Alphamin through its wholly owned DRC subsidiary, Alphamin Mining Bisie
SA, has a Mining License PE 13155 which includes the Bisie Tin Mine.
Alphamin has an 84.14 percent interest in ABM. The Government of the
Democratic Republic of Congo (GDRC) has a non-dilutive, 5% share in
ABM.
Audits, reviews and site The following review work was completed by MSA:
inspection • Inspection of approximately 20% of mineralised core intersections
used in the Maiden Mineral Resource estimate.
• Database checks.
• Inspection of Mpama South drill sites in August 2021.
• On-site review of the exploration processes.
• Laboratory inspections.
Date: 29-03-2022 01:00:00
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