Exploration drilling at the adjacent Mpama South prospect, first commenced in December 2020 and expected to last until August, is planned for three phases totalling 16,800 metres of drilling in 70 holes.
All three phases are expected to form the basis of a mineral resource estimation exercise, the results of which are expected by the end of the year.
Infill drilling and further step-out drilling will continue for the remainder of 2021 after the current program ends.
The new results from Mpama South are highlighted by four high-grade drill intercepts: 10.8 m at 2.86% Sn from 195.2 m, 5.3 m at 4.00% Sn from 164.2 m, 2.6 m at 7.17% Sn from 218.0 m, and 10.6 m at 2.77% Sn from 198.9 m.
Another significant new intercept, returning 3.2 m at 9.59% Sn from 173.7 m, was reported from the newly discovered footwall zone
Another significant new intercept, returning 3.2 m at 9.59% Sn from 173.7 m, was reported from the newly discovered footwall zone.
Although only shallowly drilled to date, tell-tale signs have led management to believe there is potential for a high-grade shoot at Mpama South, possibly similar to that at the Mpama North mine. The ongoing third phase of drilling is designed to test the extension of this interpreted high-grade shoot.
Meanwhile, the company has also commenced its “long-awaited” mine extension drilling at Mpama North, which currently has an estimated mine life of 12.5 years.
Shares of Alphamin Resources rose 5.1% by noon ET, after hitting a 52-week high of C$0.87 earlier in the session. The tin producer has a market capitalization of C$982.1 million.
