San Finx Tin and Tungsten Project

San Finx is located in Galicia, NW of Spain, in the Lousame municipality of A Coruña province. San Finx was acquired by Rafaella Resources on 1 January 2022. San Finx is an historic high-grade underground tin and tungsten mine, last operated in 2017. The mine is permitted, and restart is pending the award of a water discharge permit.

Geologically, San Finx is located in the Galicia Tras Os Montes Zone (GTOMZ) of the Iberian Variscan Massif. The western boundary of the San Finx deposit is close to the allochthonous Malpica-Tui Unit, similar to the Santa Comba deposit.

Tin and tungsten mineralization at San Finx is associated with quartz veins, with variable widths from 1.0 to 1.5m, striking NE-SW, strongly dipping to the SE and showing continuity along strike for 2,300m.

Cassiterite is abundant within the mineralised zones and persistent all along the vein systems whilst wolframite is increasing towards the southwest. Ratio of tin to tungsten, based on historical production, is 60%:40% respectively with grades increasing with depth.

The deposit has been split into 5 sectors (Buenaventura, Pozo Nuevo, Campelo, Castiñeiro and Susana) based on later geological structures which are separating the zones, as shown below.

The underground infrastructure has been developed down to some 200m from surface, reaching level 8, but only in some parts of the Buenaventura and Pozo Nuevo zones, which correspond to the southern half of the outcropping vein systems.

Image: San Finx Sn-W deposit showing the mineralized zones at surface and the projection of the underground development for the zones of Buenaventura and Pozo Nuevo.

NEXT STEPS

The Company is currently completing a resource review and a mine restart plan in anticipation of the granting of the water discharge permit.