Tinone Defines Broad Lithium and TIN Soil Anomalies at Its Aberfoyle Project, Tasmania, Australia
TINONE DEFINES BROAD LITHIUM AND TIN
SOIL ANOMALIES AT ITS ABERFOYLE
PROJECT, TASMANIA, AUSTRALIA
VANCOUVER, BC
,
April 26, 2023
/CNW/ -
TinOne Resources Inc.
(TSXV: TORC) (OTCQB:
TORCF) (
Frankfurt
: 57Z0) ("
TinOne
" or the "
Company
") is pleased to announce that it has defined
coherent and locally coincident lithium and tin soil anomalies during ongoing exploration activities at
its 100%-owned, 9,600 hectare Aberfoyle Project ("
Aberfoyle
" or the "
Project
") located in the tier-
one mining jurisdiction of
Tasmania, Australia
.
Highlights
Definition of a coherent lithium-in-soil anomaly (approximately 3,000 x 700-
200m
at a cut-off of
200ppm) coincident with, and extending beyond, the Dead Pig-Guinea Pig lithium prospect area
Peak lithium in soils was 875 ppm (0.18% Li
2
O)
Definition of two strong tin-in-soil anomalies (200 ppm cut-off) over the Rex Hill and Guinea Pig-
Dead Pig prospects
"We are very pleased with the initial results from our reconnaissance-style soil sampling program
at
Aberfoyle
,"
commented
Chris Donaldson
, Executive Chairman.
"
We have now identified a
significant lithium-in-soil anomaly across the Dead Pig and Guinea Pig prospects where we
previously reported rock samples containing up to 1.14% Li2O. Sampling focus now extends to the
Royal George
area, which is also considered highly prospective for both lithium and tin."
Key Results
First pass soil sampling has been completed over prospective target areas at the
Aberfoyle
project
(Figure 2). Initial sampling was completed on a wide-spaced 200 x
400m
grid, with more detailed
sampling on a 50 x
200m
across the Rex Hill area (Figure 2). A total of 657 samples have been
taken so far and results have been received for 364 samples.
The geochemical results received to date have defined coherent lithium and tin anomalies in the
Dead Pig-Guinea Pig and Rex Hill prospect areas (Figure 2). At the Dead Pig-Guinea Pig area, a
core area of highly anomalous lithium, greater than 300 ppm, occurs over an area of approximately
600 x
300m
. At a 200ppm cut-off, the lithium anomaly is coherent over more than 3,000 x 700-
200m
.
Results from two lines immediately north of the Dead Pig-Guinea Pig anomaly have not yet been
received and the anomaly is thus open to the north. The highest lithium in soil result was 875 ppm
(0.18% Li
2
O) within a
400m
, greater than 0.1% Li
2
O, zone across the Dead Pig-Guinea Pig area.
The soil geochemical results also define a coherent tin anomaly at the 200ppm level over
approximately 900 x
300m
in the Rex Hill prospect area. The Rex Hill prospects contains a historic
mine developed on a mineralized breccia surrounded by veined and greisen altered granite. The soil
program has been highly successful in defining the broader footprint of the prospect area and the
results will be used to define drill targets and inform the next phases of exploration.
Ongoing Work and Next Steps
Detailed multi-element analysis of the soil geochemical data and integration with geological and
structural mapping and rock geochemical data are ongoing and the results are expected to define
potential drill targets.
TinOne's field team continues to undertake geological mapping and additional systematic and
targeted rock sampling across the highly prospective lithium and tin mineralized areas identified to-
date and across other prospective areas known from historic records. Geochemical results from
ongoing rock sampling are expected in the coming weeks.
In addition, TinOne geologists have located drill holes stored in the Mineral Resources Tasmania
(MRT) drill core storage facility with records of micaceous alteration. These holes are being logged
and where micaceous alteration (potentially lithium-bearing) is observed, sampling for geochemical
analysis is being undertaken.
The Company also plans a program of mapping and rock and soil sampling on the southern outlier
part of EL27/2004 at Royal George. This part of the tenement covers an area around the historic
Royal George tin mine hosted by a similar tin granite to the Dead Pig area. As such, the area is
considered highly prospective for both lithium and tin. There has been no effective on-ground
exploration in this area for nearly four decades.
Figure 1:
Location of the Company’s projects in the mining friendly jurisdiction of Tasmania, Australia
(CNW Group/TinOne Resources Corp.)
Figure 2:
Aberfoyle project lithium ppm soil sampling results, highlighting the coherent lithium
anomaly defined in the Dead Pig-Guinea Pig and Rex Hill area.
Results from samples in the east are
pending. (CNW Group/TinOne Resources Corp.)
Figure 3. Aberfoyle project tin ppm soil sampling results, highlighting the coherent lithium anomaly
defined in the Dead Pig-Guinea Pig and Rex Hill area.
Results from samples in the east are pending.
(CNW Group/TinOne Resources Corp.)
About the Aberfoyle Project
The
Aberfoyle
project area straddles the boundary between the Silurian to Devonian Mathinna
Supergroup sedimentary rocks and the Devonian Ben Lomond Granite. The historic
Aberfoyle
(tin)
and Storeys Creek (tin-tungsten) mines as well as other vein systems are hosted in the sedimentary
rocks and occur as strike extensive systems of sheeted and stockwork veining. Elevated lithium has
not previously been reported from the project area.
Historic records and drilling indicate the mineralized vein system at
Aberfoyle
is up to 60 metres
wide, 800 metres in length and extends approximately 400 metres in the down dip direction. The
Lutwyche prospect occurs approximately 1 kilometre northeast of
Aberfoyle
and is comprised of two
sets of mineralized veins which can be traced along strike for approximately 750 metres.
An additional sediment-hosted vein system, the Kookaburra, is located 200 metres southwest of the
main Lutwyche vein system and is known to be approximately 40 metres wide with an along strike
extent of at least several hundred metres.
Mineralization at Storeys Creek is hosted within a 30 to 50 metre wide, north-northwest striking
sheeted vein array which dips to the southwest. The system can be traced along strike for 300
metres and extends 400 metres in the down dip direction. The Ben Lomond Granite crops out
approximately 1km west of the mine and has been identified at depth at 180 metres below the
surface.
Additional poorly known sediment-hosted vein systems occur at Brocks, Eastern Hill and elsewhere
in the tenement.
Granite-hosted occurrences are developed throughout the exposed areas of granitoid outcrop and
consist of vein, disseminated and breccia style occurrences with associated greisen style alteration.
These have given rise to historic small scale hard rock and more extensive alluvial production in the
Gipps Creek, Rex Hill,
Ben Lomond
, Royal George and other areas.
The Company interprets that both sediment- and granite-hosted systems have developed in
structural corridors of multi-kilometre extent and that historic exploration has not systematically
explored these corridors. TinOne believes systematic exploration of these prospective corridors will
result in the definition of high-quality drill targets.
Sample Methodology
Soil samples reported here were collected by experienced field assistants using hand sampling
techniques with a depth ranging from 30 to 100cm, with an average of 59cm depth. Samples were
coarsely sieved in the field with typically 0.5 and 1 kg despatched to the laboratory. Samples were
placed in pre-numbered, calico bags and then into large rice sacks which were sealed for shipping.
On receipt by the laboratory they were dried and sieved to -180µm (-80 mesh).
Quality Assurance / Quality Control
Rock samples were delivered to ALS Limited in Burnie,
Australia
for sample preparation and then
forwarded to ALS Perth for analysis. The ALS Perth facilities are ISO 9001 and ISO/IEC 17025
certified. Tin and tungsten are analysed by ICP-MS following lithium borate fusion (ALS method ME-
MS85), overlimit results are reanalysed by XRF (ALS method XRF15b). Forty-eight element multi-
element analyses are conducted by ICP-MS after a four-acid digestion (ALS method ME-MS61).
Control samples comprising certified reference samples (including reference material certified for
lithium) duplicates and blank samples were systematically inserted into the sample stream and
analyzed as part of the Company's quality assurance / quality control protocol.
About TinOne
TinOne is a TSX Venture Exchange listed Canadian public company with a high-quality portfolio of
tin, tin/tungsten and lithium projects in the Tier 1 mining jurisdictions of
Tasmania
and
New South
Wales, Australia
. The Company controls some of the most important tin districts in
Tasmania
,
including
Aberfoyle
, Rattler Range and Great Pyramid and is focussed on advancing its highly
prospective portfolio. TinOne is supported by Inventa Capital Corp.
Qualified Person
The Company's disclosure of technical or scientific information in this press release has been
reviewed and approved by Dr.
Stuart Smith
., Technical Adviser for TinOne. Dr. Smith is a Qualified
Person as defined under the terms of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward–Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and "forward–looking information" under
applicable Canadian securities laws. When used in this news release, the words "anticipate",
"believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and
similar words or expressions, identify forward–looking statements or information. These forward–
looking statements or information relate to, among other things: the development of the Company's
projects; future mineral exploration, development and production; and the release of exploration
results.
Forward–looking statements and forward–looking information relating to any future mineral
production, liquidity, enhanced value and capital markets profile of TinOne, future growth potential
for TinOne and its business, and future exploration plans are based on management's reasonable
assumptions, estimates, expectations, analyses and opinions, which are based on management's
experience and perception of trends, current conditions and expected developments, and other
factors that management believes are relevant and reasonable in the circumstances, but which
may prove to be incorrect. Assumptions have been made regarding, among other things, the price
of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of
exploration and development; the estimated costs of development of exploration projects; TinOne's
ability to operate in a safe and effective manner and its ability to obtain financing on reasonable
terms.
These statements reflect TinOne's respective current views with respect to future events and are
necessarily based upon a number of other assumptions and estimates that, while considered
reasonable by management, are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors, both known and unknown, could
cause actual results, performance or achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied by such forward–looking
statements or forward-looking information and TinOne has made assumptions and estimates
based on or related to many of these factors. Such factors include, without limitation: the
Company's dependence on early stage mineral projects; metal price volatility; risks associated with
the conduct of the Company's mining activities in
Australia
; regulatory, consent or permitting
delays; risks relating to reliance on the Company's management team and outside contractors;
risks regarding mineral resources and reserves; the Company's inability to obtain insurance to
cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding
the failure to generate sufficient cash flow from operations; risks relating to project financing and
equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of
reserves and resources, metallurgical recoveries and capital and operating costs of such projects;
contests over title to properties, particularly title to undeveloped properties; laws and regulations
governing the environment, health and safety; the ability of the communities in which the Company
operates to manage and cope with the implications of COVID-19; the economic and financial
implications of COVID-19 to the Company; operating or technical difficulties in connection with
mining or development activities; employee relations, labour unrest or unavailability; the
Company's interactions with surrounding communities and artisanal miners; the Company's ability
to successfully integrate acquired assets; the speculative nature of exploration and development,
including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts
of interest among certain directors and officers; lack of liquidity for shareholders of the Company;
litigation risk; and the factors identified under the caption "Risk Factors" in TinOne's management
discussion and analysis. Readers are cautioned against attributing undue certainty to forward–
looking statements or forward-looking information. Although TinOne has attempted to identify
important factors that could cause actual results to differ materially, there may be other factors that
cause results not to be anticipated, estimated or intended. TinOne does not intend, and does not
assume any obligation, to update these forward–looking statements or forward-looking information
to reflect changes in assumptions or changes in circumstances or any other events affecting such
statements or information, other than as required by applicable law.
SOURCE
TinOne Resources Corp.
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For further information:
and to sign-up to the mailing list, please contact: Chris Donaldson,
Executive Chairman, Tel: (604) 813-3931, Email: [email protected]
CO: TinOne Resources Corp.
CNW 08:00e 26-APR-23