First Tin (LSE:1SN) received an updated Mineral Resource Estimate for the Taronga Tin Project prepared by H&S Consultants that converts a significant proportion of Inferred resources into Measured and Indicated categories.
The MRE, reported as at 31 March and prepared to the 2012 JORC Code using a 0.05% Sn cut-off, raises Measured to 39.2Mt @ 0.13% Sn (51,200t Sn), Indicated to 46.5Mt @ 0.10% Sn (46,400t Sn), lifts combined Measured & Indicated to 85.7Mt @ 0.11% Sn (97,700t Sn, +11,400t or 13.3%), and shows total M+I+I of 132Mt @ 0.10% Sn (136,600t Sn) with over 71% of contained tin now in higher‑confidence categories.
The update follows infill drilling and revised geological interpretation and notes total contained tin is broadly unchanged from the prior estimate, with a small 1,700t reduction attributed to refined weathering and density assumptions.
The MRE also includes a maiden Inferred estimate for copper and silver of 132Mt @ 0.05% Cu (60,600t Cu) and 2.8g/t (12.0Moz Ag), but First Tin says these by-products will not be included in the optimised DFS economic assessment because they remain Inferred and were only selectively assayed historically.
"This resource update demonstrates the successful conversion of targeted Inferred mineralisation into Measured and Indicated categories, enabling inclusion in ongoing financial evaluations," said Bill Scotting, Chief Executive Officer.
First Tin said it will incorporate the new MRE into updated pit designs and an extended life‑of‑mine in its forthcoming Definitive Feasibility Study update and will assess copper and silver extraction options after the current DFS optimisation work.
