Initial drilling program successfully completed
Heidelberg. Deutsche Rohstoff AG announced in Chemnitz today, that an independent Australian expert has confirmed the resource estimate for two of the world’s largest tin deposits in the Ore Mountains in Germany. The estimate is now JORC Compliant” since it complies with the worldwide applicable Australian classification standard for mineral resources. For Gottesberg the Australian consultant calculated a metal content of 115,000 tons of tin at an average grade of 0.27% tin within the ore and for Geyer a metal content of 44,000 tonnes at 0.37% tin. The price of tin is currently at USD 20,000 per tonne.
To verify the estimates from GDR times, Tin International (Deutsche Rohstoff AG 61%) drilled eight holes with a total length of 2,150m from November 2011 until April 2012.
Dr. Thomas Gutschlag, Chief Financial Officer of Deutsche Rohstoff AG, commented: “We are very pleased with the results of the confirmatory drilling work. TIN will now begin scoping and feasibility studies with the plan to develop the deposits.. ”
The new estimate for Gottesberg is in line with the historical estimate of 121,000 tons of tin at an average grade of 0.26%. In Geyer, the current estimate is slightly lower than the historical amount of 61,000 tons of tin at an average grade of 0.44%. However, this is also due to the fact that the new classification of the resource was made in the category “indicated”, while the historical estimate graded the deposit according to GDR standard “C2”, which corresponds to “inferred” and stands for a lower degree of certainty. Gottesberg is still classified as “inferred”, but the modelling of further underground drilling from the GDR times is currently running. The result of these drillings could upgrade parts of the Gottesberg resource to the “indicated” category.
In the future, the activities in both tin projects will be managed by the Australian Kerry Heywood who was appointed as Chief Executive Officer (CEO) of Tin International Ltd., Brisbane, Australia, of which Deutsche Rohstoff AG group is the largest share holder. Kerry Heywood is a mining engineer with over 30 years experience. Previously he worked in exploration, evaluation, development, financing and operation of mines in various countries, including Australia, Russia, Germany, Chile and South Africa. He also brings extensive experience in the management of listed companies.
To ensure the future funding for the feasibility and development of Gottesberg and Geyer an IPO in Australia is planned within 2012.
Heidelberg, 30 August 2012