Elementos Limited has confirmed significant fluorite (CaF2, also known as fluorspar) mineralisation at its Cleveland Tin Project in Tasmania, based on follow-up assays from drill hole C2119 completed in its 2022 diamond drilling program, and mineralogical results during metallurgical test work. The presence of fluorite within Cleveland's tin-copper resource was first confirmed by an optical mineralogy study completed by ALS laboratories, in conjunction with McKnight Mineralogy, during 2022. The study involved the preparation of polished thin sections and scanning by QXRD analysis.

The study found that fluorite comprised 8.7% of the composite sample assessed. Initial assay results from hole C2119, reported on 15th June 20221, were for the standard project elements of tin, copper, tungsten (WO3), molybdenum and bismuth. Fluorine, which was only identified as a mineral of interest during the mineralogy program, requires a separate method of analysis (alkali fusion).

These analyses were subsequently carried out at the ALS facility in Vancouver, Canada. Significant fluorite (CaF2) results from this additional assay data are shown and underlined below: C2119: 89.85m @ 5.44% CaF2 from 205.3m, including; 14.2m @ 0.36% WO3 @ 10.2% CaF2 from 221.0m ­ Tungsten Zone (Upper Foleys Zone) and 3.85m @ 1.05% Sn, 0.28% Cu & 5.36% CaF2 from 64.25m - Tin-Copper Zone (Battery Lode). Foleys Zone Drilling (Tungsten Zone): Drill hole C2119 was drilled in 2022 to a depth of 300m.

The drill hole targeted an untested zone that occurs between northeast dipping and southwest dipping limbs of the historical underground mine workings and current JORC 2012 compliant mineral resource. C2119 intersected a zone of intensive quartz veining from 205.3m down hole containing wolframite (tungsten), fluorite (fluorine) and molybdenite (Mo) within a significant zone of silica and sericite alteration. The mineralisation style and type has been interpreted to be an extension of the mineralisation within the Foleys Zone tungsten resource, approximately 150m above the defined resource.

Fluorite mineralisation within the Foleys Zone was studied in detail and reported in a PhD thesis by P.L.F. Collins in 1983*3. The fluorite occurs as at an early stage in conjunction with wolframite (tungsten) as coarse purple crystals. A later stage of fluorite mineralisation occurs as green crystals in veins up to 0.5m wide. Topaz mineralisation has been observed in very minor quantities (topaz also contains fluorine).

It has been reported*³ as occurring as small crystals 0.05mm to 0.5mm in diameter. Topaz is not considered to be a significant fluorine mineral at the Foleys Zone. The fluorite intercept from C2119 approximately 150m above the Foleys Zone is shown below: C2119: 89.85m @ 5.44% CaF2 from 205.3m, including 14.2m @ 0.36% WO3 @ 10.2% Ca F2 from 221.0m.

The fluorine assay results are being reported as fluorite. Fluorite is present in the drill core as coarse grained minerals. Fluorite is the common product in commercial concentrates containing fluorine.

The CaF2 (fluorite) assay was calculated using the following formula: CaF2 = ((Ca (atomic weight) + 2F(atomic weight))/2F(atomic weight)) * F (ALS assay). An investigation was carried out into the relationship between calcium (Ca) and fluorine (F) to test the validity of the assumption that a majority of the fluorine in the assay data comes from fluorite. A total of 87 samples were compared in a scatter plot.

The plot shows are good correlation between Ca and F with a R2 value of 0.93. From this correlation, in combination with visual estimates of the mineralogy in the Foleys Zone, a large proportion of the fluorine is present as Fluorite. Samples outside the strong correlation trend were observed to contain elevated carbonate in veins.

Battery Lode (Tin-Copper Zone): C2119 intersected an extension to the Battery Lode below the current JORC resource from a downhole depth of 64.25m for a downhole length 3.7m. Battery Lode intercept: C2119: 3.85m @ 1.05% Sn, 0.28% Cu & 5.36% CaF2 from 64.25m. The presence of fluorine as fluorite within the Battery Lode was confirmed by an optical mineralogy study completed by ALS laboratories, in conjunction with McKnight Mineralogy, in 2022.

The study involved the preparation of polished thin sections and scanning by QXRD analysis. The study found that fluorite comprised 8.7% of the composite sample being assessed.