Alphamin’s Mpama South Project and The Bisie Ridge Exploration
MAURITIUS – 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 provided the following updates on Mpama South development project and exploration activities:
MPAMA SOUTH DEVELOPMENT PROJECT
The Mpama South project, which is adjacent to the producing Mpama North mine, is expected to produce approximately 7,200 tonnes of contained tin per year effective FY2024 thereby increasing Alphamin’s annual tin production to ~20,000 tonnes. The project is progressing on schedule for targeted commissioning in December 2023. Overall project completion is at 18.6%, and 84.3% of the procurement requirements have been finalised and ordered. The project is not expected to exceed its total cost estimate of US$116 million.
EXPLORATION ACTIVITIES
Alphamin’s vision is to become one of the world’s largest sustainable tin producers. In addition to drilling for resource extensions at Mpama North and Mpama South, the Company is actively exploring for more tin deposits on its license areas.
Resource expansion drilling, resource confidence drilling and new deposit discovery drilling progressed well during the third quarter with 9,094 metres drilled.
The Bisie Ridge Phase 1 new discovery drilling campaign saw 2,355 metres drilled completing17 holes in the quarter. Minor visual cassiterite was intersected in two drillholes while prospective associated chlorite alteration was intercepted in multiple other drillholes, assaysare awaited. The Phase 1 campaign has been accelerated with ~90 drillholes planned in fences across the Bisie Ridge on six highly anomalous targets, following which a Phase 2campaign will delineate any discoveries or else in-fill the most prospective targets.
The Mpama South Phase 6 drilling campaign is the largest single campaign to date on the licence and aims to both in-fill and extend the Mineral Resource announced on 30 May 2022.
An update to that Mineral Resource is expected in December 2022. Based on the success of Phase 6 and the still open-ended mineralization showing visual cassiterite and good grades from already received assays, a Phase 7 resource extension campaign will continue upon completion of Phase 6.
The Mpama North Phase 2 drilling campaign progressed well during the quarter. Visual intercepts of cassiterite were intersected on the southern and eastern extensions of the orebody – many on current mining levels. These intercepts contain the visual mineralization style characteristic of the Mpama North mine and, although less intensely mineralized than elsewhere, should provide valuable blending material for the deeper high-grade zones of Mpama North, thus potentially extending the life of mine and maintaining current production levels for longer.
