First Tin rated the result as "outstanding" as it confirmed the existence of a high-grade target zone. This is of particular interest, it said, as the tin mineralization found at Gotteswald is a potential source of high-grade mineralization that could potentially be pre-concentrated and transported to the neighboring Tellerhäuser project for further processing. First Tin is currently preparing a feasibility study for Tellerhäuser.
Between November 24, 2021 and March 30, 2022, 16 drill holes totaling 2,080.5 m were drilled at seven drill sites in the project area. Eleven holes (1,597.5 m) of this 16-hole program were used to explore an interpreted higher-grade core of the large but moderately high-grade Gottesberg tin deposit (42.1 million t @ 0.27% Sn with 114,000 t of tin in indicated and inferred resources).
Thomas Bünger, CEO of First Tin, said, "We are pleased to confirm the presence of high-grade mineralization at the Gottesberg tin project in Germany, which is in close proximity to our Tellerhäuser project. Mineralization in this area is expected to provide additional ore for processing at a central processing plant and expand our presence as a supplier of conflict-free, local tin to the German and European technology markets. We look forward to announcing additional results in the coming weeks and months."
Results from the first three drill holes at Gottesberg - SaxGB003-01, SaxGB003-02 and SaxGB003-03 - are now available.
Drill hole SaxGB003-03 intersected the large, moderately high-grade mineralized zone as expected and returned a total hole intersection of 90.8 m @ 0.15% Sn from 75.8 m hole depth. Within this zone and adjacent to the underground workings developed in the 1960s, a high grade intersection of 6.5 m (downhole) @ 0.98% Sn was encountered from 124.7 m below the medieval surface workings.
Drill hole SaxGB003-02 did not meet the target, indicating that mineralization in this area is steeper than expected.
Hole SaxGB003-01 targeted an IP anomaly outside the known area of mineralization, which was interpreted as a possible extension of the interpreted high-grade mineralization. This returned low grade tin mineralization with a best intercept of 17.8m @ 0.05% Sn from 109.2m - possibly the source of the IP anomaly.
Further drill core samples are currently being analyzed at ALS in Romania and First Tin is eagerly awaiting confirmation of the interpretation of additional high-grade mineralization from drilling along strike identified in drill hole SaxGB003-03.
According to §34b WpHG and according to paragraph 48f paragraph 5 BörseG (Austria) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares of First Tin and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss First Tin during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between First Tin and GOLDINVEST Consulting GmbH, which means that a conflict of interest exists, especially since First Tin remunerates GOLDINVEST Consulting GmbH for its reporting.