| Announcement Date: | 2022-08-02 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | NI43-101 |
| Company name: | Alphamin Resources Corp. |
| Project name: | Bisie |
| Location: | Democratic Republic of the Congo |
| Commodities: | Tin |
| Highlight: | Updated Resource and Reserve Estimates for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | 2 August 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 updated Mineral Resource and Mineral Reserve estimates along with an updated life of mine schedule (LoM) for the Mpama North Mine. Mining has progressed steadily at Mpama North since the 2019 estimation of the Reserves and LoM schedule with 990,821 tonnes of ore having been extracted in the 30 months Dec 2019 – Jun 2022. A number of operational improvements and changes resulted in actual mine performance surpassing the 2019 LoM schedule. Run of Mine (RoM) tonnes mined for the financial years 2020 and 2021 exceeded the 2019 LoM schedule by 18.5% and 8.1%, respectively. In addition, the Reserve cut-off grade calculated in the 31 December 2019 LoM schedule of 1.6% Sn, has at an operational level consistently been reduced due to the improved RoM output, optimised mine planning, out-performance versus dilution assumptions, improvements in the process plant recoveries and an increase in the tin price. |
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