Taronga – Australia

Established tin resource in historic mining region on track for development

Interest in the site dates back over a century including extensive drilling, tunnelling and shallow alluvial mining. Significant exploration of the tin deposits was undertaken by BHP in 1933,1958 and 1964, followed by the Newmont Joint Venture from 1979 to 1982. From 2012 to 2018, AusNiCo Ltd and Aus Tin completed Mineral Resource and Ore Reserve estimates, completed a PFS, were granted a mining lease over most of the deposit and were given developmental approval for trial mining and processing.

Since the acquisition of the project in 2022, First Tin has undertaken further exploration and drilling, leading to publication of a significantly enhanced, JORC 2012 compliant, Mineral Resource Estimate. A definitive feasibility study (DFS) has been completed and published showing the attractiveness of this project. The project assessment and approval process is well advanced.

Ongoing mineral processing test work is yielding excellent results with increased tin recoveries anticipated through the processing plant. Coupled with an expectation of a longer mine life from a drilling program to convert Inferred Resources into Measured and Indicated status, there is significant upside value.

With significant freehold land ownership, advanced infrastructure, attractive geology, and mineralogy amenable to simple crushing and gravity separation processing, Taronga offers a low-capex, high margin project in a historic mining region in a low-risk jurisdiction.

First Tin has also continued to invest in this substantial tin district, acquiring additional exploration licenses with our exploration tenure now covering an area of 752 km² around Taronga, which offers significant long-term upside in this prospective regional tin corridor.

As global demand for critical metals accelerates, Taronga is well-positioned to supply a reliable and sustainable source of high-quality tin.