2020 year end results/growth initiativesAlphamin’s audited consolidated financial statements and accompanying Management’s Discussion and Analysis for the quarter and year ended 31 December 2020 are expected to be released on or about 8 March 2021. Growth Initiatives
The fine tin recovery plant is 70% complete and progressing on schedule for commissioning commencing April 2021. Estimated expenditure at completion is in line with the budget of US$4.6 million.
Drilling at the Mpama South deposit, located only 750m south of the current processing facility, commenced in December 2020. Two drilling campaigns are scheduled on Mpama South for 2021. Phase 1 is planned as a 6,000m diamond drilling campaign to be executed from December 2020 to March 2021. Subject to positive drill results, we expect to declare a maiden Mineral Resource during Q2 2021. Phase 2 of the Mpama South drilling program is planned as a 2,500m diamond drilling campaign to be executed during Q3 2021. This second phase of drilling is aimed at testing the limits of mineralisation on this deposit to depths of up to 500m below surface and along strike to better understand the potential for establishing another long life, high grade mine at the Bisie complex.
While Mpama South could provide an opportunity to increase the production rate and life of operations at Bisie, an extension of the life of mine at Mpama North (current producing orebody) can be confirmed by drilling down-dip and along strike beyond the northernmost holes drilled in the 2014 drilling campaign. A 6,000m diamond drilling campaign is planned for execution in Q2 2021 from an underground drilling drive (under development) located on Level 6 at Mpama North. Access for the drill rig to commence drilling is planned for April 2021.
Further, the 14km long Bisie Ridge, hosting both Mpama North and South, has a plethora of anomalous geochemical targets for follow up and lies entirely within Alphamin’s tenements. In this regard, the Company has commenced an extensive soil sampling campaign and is allocating expert resources to identifying additional drill targets for H2 2021.