Alphamin’s Mpama South increases resource confidence and mineral resources

Alphamin Resources Corp., a producer of 4% of the world’s mined tin from its high-grade operation in the Democratic Republic of Congo, has announced completion of the infill drilling campaign at Mpama South and an updated Mineral Resource Estimate (MRE) for Mpama South.

HIGHLIGHTS

• extending the known mineralisation boundary.
• Increased Indicated Resources by 286% to 3.26Mt based on assays from 63 additional infill and extensional drillholes.
• Mpama South Mineral Resources now stand at:
• 3.26Mt @ 2.46% Sn for 80.2kt contained tin in the Indicated category; and
• 2.84Mt @ 2.42% Sn for 68.7kt contained tin in the Inferred category.
• Significant additional resource growth potential at Mpama South as the deposit still remains open down-dip.
• Mpama South Mine construction works progressing according to plan – project completion expected to increase Alphamin’s annual contained tin production from the current 12,000tpa to ~20,000tpa, approximating 6.6% of the world’s mined tin.

The update is based on receipt of assays for another 63 infill and extensional drillholes completed subsequent to the previous estimate which was based on 124 drillholes. The updated Mineral Resource is presented in Figure 1 along with the direction in which mineralisation is still open down dip and significant high grade periphery drilling intercepts.

Bisie Ridge Regional Exploration Update

Alphamin intensified exploration drilling on the 13km long Bisie Ridge from Q3 2022 to test highly anomalous soil, geophysical and structural targets identified during 2021. 8,773 metres of the 10,000 metre Phase 1 diamond core programme have been completed along the Ridge, with the remainder due for completion in Q1 2023.

Assay results when received will support a fuller investigation into the regional setting, along with data from the on-going geophysical downhole surveys, structural investigations and mapping, thereby enabling a refocused exploration programme. Until then, the key focus at site remains the construction and commissioning of the new Mpama South Mine.