Atlantic Tin has substantially expanded the Achmmach mineral resource, now the sixth largest undeveloped tin resource globally, and fourth largest including only CRIRSCO-compliant resources.
The company provided an updated mineral resource estimate for the project in Morocco of 39.1 Mt at 0.55% Sn for a total of 213,300 tonnes contained tin, a 33% increase in tin content from the previous mineral resource estimate in 2021.
157,700 tonnes of the contained tin is in the indicated category, with the remaining 18,100 tonnes in the measured category and 37,500 tonnes in the inferred category.
Most of the increase to the MRE came from using a lower cut-off grade of 0.26% at a tin price of $30,000, bringing in additional lower grade material. The company plans to mine the highest-grade stopes first at an elevated cut-off grade to ensure processing feed is maximised in the early years.
On top of this, the company gained 7,000 tonnes of tin based on new drilling at the Sidi Addi Western Zone Extended mineralisation.
Referencing the acquisition of the neighbouring Samine license earlier this year, Atlantic Tin Chief Executive Officer Simon Milroy commented that the increased resource “will form the basis of the current feasibility study of the combined Achmmach-Samine project. An updated Ore Reserve Estimate will be produced once the current technical studies are sufficiently advanced”.
The company also defined a new exploration target at the Ain Karma prospect of 500 to 900 kt ore grading 0.35% to 0.45% Sn, part of the larger Bou El Jaj prospect near to the main Achmmach site.
Our view: We are pleased to see a substantial upgrade to the Achmmach resource, which was already one of the largest undeveloped tin resources globally. ITA looks forward to reading the project feasibility study and updated ore reserve statement.
Atlantic Tin is a member of ITA’s Explorers & Developers Group
