31 August 2023

First Tin Plc

("First Tin" or "the Company")

Taronga Mines Pty Ltd applies for Exploration Licence over the Tingha Tin Field

First Tin PLC ("First Tin"), a tin development company with advanced, low capex projects in Germany and Australia, is pleased to report that its 100% owned Australia subsidiary - Taronga Mines Pty Ltd (TMPL) - has applied for a large (276.6km²) Exploration Licence covering the majority of the Tingha tin field, located approximately 50km from TMPL's advanced stage Taronga tin project in northeastern New South Wales (Figure 1).

There are three main tin fields in northeastern NSW and southeastern Queensland, that form the New England Tin Corridor. This is evident in Figure 1, which shows known tin mineralisation as orange dots overlaid on a Google Earth image. TMPL currently holds the majority of the Emmaville Tin Field under its existing tenure. Once the Exploration Licence is granted, TMPL will hold the majority of the Tingha Tin Field and will have access to explore most of the known tin mineralised areas in northeastern NSW. This will consolidate the Companys control of the exploration potential around our world class Taronga tin deposit.  

The three tin fields all have significant historical tin production, the majority of which is from alluvial and eluvial sources:

·      Stanthorpe Tin Field                            51,000t tin

·      Emmaville Tin Field                              88,000t tin

·      Tingha Tin Field                                    64,000t tin

The tin mined at Tingha was mainly alluvial, with large dredges operating over an extended timeframe during the late 1800s to late 1900s. The tin is interpreted as being derived from the Triassic age Gilgai Leucogranite which has a similar age and formation history to the Mole Leucogranite, which is interpreted as the source of the tin mineralising fluids that formed Taronga.

Some small hard-rock deposits are known to occur in the Tingha area. These are generally vein-style (quartz-cassiterite-mica) deposits that trend east-northeast and northwest. While they tend to be small, we can see potential for larger disseminated or stockwork-sheeted vein-style deposits, similar to Taronga.

Initial work will consist of data compilation and geological mapping aimed at assessing the potential for large scale disseminated or sheeted-stockwork style tin deposits.  This will be followed by drilling if warranted.

First Tin CEO Thomas Buenger said: "This Exploration Licence submission is an important step in consolidating First Tin's control of significant historical tin producing areas in northeastern NSW. It forms part of our long-term strategy of building on our existing tin holdings and extending our "Tin District" concept around our world-class Taronga tin deposit. We expect that the Exploration Licence will be granted close to the time of completion of our DFS on the Taronga deposit, and we look forward to updating shareholders with the outcome once this procedure has been completed."