| Announcement Date: | 2022-03-07 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | NI43-101 |
| Company name: | Alphamin Resources Corp. |
| Project name: | Mpama South |
| Location: | Democratic Republic of the Congo |
| Commodities: | Tin |
| Highlight: | Initial Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | 07 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 a Mineral Resource estimate and a positive Preliminary Economic Assessment (PEA) for Mpama South. Following completion of the Phase 3 diamond drilling campaign in September 2021 and receipt of assays, a Mineral Resource Estimation (MRE) for the Mpama South project was commenced in December 2021. The MRE includes results from 79 drillholes totalling 23,109m, 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. 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. 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. The Mineral Resource Statement with an effective date of 4 March is presented in Table 1:- |
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