Tinone Defines New Zone of Strong Lithium-IN-Soil Anomalism at Its Aberfoyle Project, Tasmania, Australia
TINONE DEFINES NEW ZONE OF STRONG
LITHIUM-IN-SOIL ANOMALISM AT ITS
ABERFOYLE PROJECT, TASMANIA,
AUSTRALIA
TSX.V: TORC OTCQB: TORCF
VANCOUVER, BC
,
July 20, 2023
/CNW/ -
TinOne Resources Inc.
(TSXV: TORC) (OTCQB:
TORCF) (
Frankfurt
: 57Z0) ("
TinOne
" or the "
Company
") is pleased to announce that it has defined
a new zone of anomalous lithium-in-soil at its 100%-owned, 9,600 hectare Aberfoyle Project located
in the tier-one mining jurisdiction of
Tasmania, Australia
.
Highlights
Definition
of a new zone of broad lithium-in-soil anomalism:
The Dalrymple area is 9 km southeast of the Dead Pig-Guinea Pig anomaly and measures
approximately 2.6 by 1.2 km.
A coherent anomaly is emerging near the southeast extent of the Dalrymple area with peak
lithium in soils of 1,730 ppm (0.37% Li
2
O).
Infill and additional soil sampling are warranted to fully constrain the size of the anomalous
footprint.
Significant lithium potential:
The presence of broad zones of lithium-in-soil anomalism
suggests the
Aberfoyle
project is emerging as a significant lithium exploration play. Prior to the
Company's 2022-2023 exploration programs,
Aberfoyle
has never been targeted for lithium
mineralization.
Exploration through a new lens:
New results from
Aberfoyle
will be used to guide lithium-
focused exploration initiatives across the Company's highly prospective portfolio of lithium-tin-
tungsten projects in northeast
Tasmania
.
"The final results from our recently completed reconnaissance-style soil sampling program at
Aberfoyle
clearly demonstrate the significant lithium potential of the project,"
commented
Chris
Donaldson
, Executive Chairman
.
"We have now identified multiple zones of strong lithium-in-soil
anomalism which support the potential scale of lithium mineralization. Plans are underway to
follow-up and expand on these anomalies with infill soil lines as well as new lines to expand open-
ended anomalies. We continue to be pleased with results from the Company's exploration activities
at
Aberfoyle
as we work towards defining a new lithium district."
Key Results
Reconnaissance-style soil sampling has been completed across the
Aberfoyle
project (Figure 1).
Initial soil sampling was completed on a wide-spaced 200 x
400 m
grid, with more detailed sampling
on a 50 x
200 m
grid across the Rex Hill area (Figure 1). One infill east-west oriented soil line was
completed at Dead Pig-Guinea Pig with samples taken at
100 m
intervals, midway between two
400
m
spaced lines. Results have now been received from all 657 samples collected and the new
results, primarily from the eastern side of the project, build on previously released results (see
April
26
th
, 2023 news release).
Figure 1. Map showing lithium-in-soil geochemical results from Aberfoyle. (CNW Group/TinOne
Resources Corp.)
The soil geochemical data define multiple broad zones of lithium anomalism (Figure 1) highlighted by:
The newly defined Dalrymple area measures 2.6 by 1.2 km at the 220 ppm (0.047% Li
2
O)
cutoff. The broad zone of lithium anomalism is open to the south and northeast and is more
coherent to the southeast, although additional sampling across the area is warranted to fully
constrain the size of the anomaly. Only 13 rock samples have been collected across this broad
soil anomaly (up to 0.06% Li
2
O), which were sampled primarily for tin mineralization.
The prospective Devonian granites at Dalrymple are partially covered by relatively shallow (<
80
m
thick) Permian aged sediments (Figure 1). The occurrence of highly anomalous lithium in soil
immediately adjacent to the boundary between the lithium-bearing granite and the cover rocks
indicates the potential for lithium anomalism to persist under cover at depths amenable to
shallow drilling.
The Dead Pig-Guinea Pig anomaly measures 2.3 by 0.8 km at the 220 ppm (0.047% Li
2
0)
cutoff. Rock samples collected from across the anomaly returned Li
2
O values of up to 2.0%
(float) and 1.1% (outcrop) with 33 samples yielding values over 0.1% Li
2
O (465 ppm Li) (see
April 26
th
, 2023 news release).
Rex Hill
east area spans four 400 m spaced sample lines where the highest Li values (e.g., 416
ppm Li) are from the eastern ends of the lines. The emerging anomaly measures 1 km north to
south and is open to the east.
Follow-up geological mapping and rock sampling together with infill and expansion, tighter-
spaced soil lines will be completed across the new soil anomalies to better define their
footprints and develop vectors to higher-grade zones.
Detailed multi-element analysis of all soil geochemical data and integration with new geological and
structural mapping and new rock geochemical data will be completed and the results are expected
to define potential drill targets at Aberfoyle. Importantly, new insights from this work will also help
guide future exploration programs across the Company's portfolio of highly prospective tin-tungsten-
lithium projects in northeast
Tasmania
(Figure 2).
The Company is also currently awaiting assay results from samples of historic drill core from
Aberfoyle
stored at the Mineral Resources Tasmania (MRT) drill core storage facility. The drill core
was logged and where micaceous alteration (potentially lithium-bearing) was observed, the core was
sampled and submitted for full multi-element geochemical analyses.
Sample Methodology, Analytical Procedures and QA/QC
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 to 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) with both fractions
retained (ALS method PREP-41).
Soil samples were delivered to ALS Limited in Burnie,
Australia
from where they were forwarded to
ALS Adelaide for sample preparation. Samples for analysis were forwarded to either ALS Brisbane
or ALS Perth. Both the ALS Brisbane and ALS Perth facilities are ISO 9001 and ISO/IEC 17025
certified. Samples were analysed for lithium via inductively coupled plasma mass spectroscopy after
a four acid digestion (ICP-MS; 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.
Figure 2. Location of the Company’s projects in the mining friendly jurisdiction of Tasmania,
Australia. (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.
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, Mount Maurice 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
Russell Fulton
(MAIG), Vice President Exploration for the Company and
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2023/20/c3874.html
%SEDAR: 00048559E
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 20-JUL-23