UK-based tin developer First Tin (LSE: 1SN) has announced a significant conversion of its Taronga tin resource in New South Wales, Australia to the Measured and Indicated categories ahead of its upcoming definitive feasibility study.
Measured resources increased by 15.8% to 7,000 tonnes of tin and Indicated resources increased by 10.5% to 4,400 tonnes of tin. Over 71% of contained tin is now classified in the Measured and Indicated categories.
The overall total tin resource stayed broadly consistent from the September 2023 MRE.
| Taronga mineral resource as of 31 March 2026 (First Tin) | ||||
| Category | Ore (Mt) | Grade (% Sn) | Tin contained (t Sn) | Change in tin contained (%) |
| Measured | 39.2 | 0.13 | 51,200 | +15.8 |
| Indicated | 46.5 | 0.10 | 46,400 | +10.5 |
| Measured & Indicated | 85.7 | 0.11 | 97,700 | +13.3 |
| Inferred | 46.2 | 0.08 | 38,900 | -25.0 |
| Total | 132.0 | 0.10 | 136,600 | -1.2 |
In addition to tin, the company defined an Inferred resource of 132.0 Mt grading 0.05% Cu and 2.8 ppm Ag, giving the company a contained copper resource of 60,600 tonnes and a contained silver resource of 12.0 Moz.
The company said it will exclude copper and silver from its upcoming DFS but is currently assessing the technical and economic options for their eventual extraction as by-products.
First Tin CEO Bill Scotting said the resource update was a “significant step forward for Taronga”, and they “look forward to incorporating updated pit designs and an extended life of mine” in the DFS update.
The previous Taronga DFS published in 2024 delineated a mine life of 9 years, with average production of 3,600 tonnes of tin-in-concentrate per year.
Our view: The improved confidence of the Taronga mineral resource marks strong progress as First Tin brings the project towards an updated DFS. ITA looks forward to the publication of the updated report.
First Tin is a member of ITA’s Explorers & Developers Group.
